NEW YORK, Nov. 14 /PRNewswire-FirstCall/ -- e-Smart Technologies, Inc. (Pink Sheets: ESMT) ("e-Smart" or the "Company") responds as follows to the press release issued by IDsmart in which a series of serious allegations are made regarding e-Smart Technologies, Inc. and which e-Smart hereby refutes as untrue, inaccurate and misleading. IDsmart is operated by Michael Gardiner, the same individual who, last year, plead guilty to securities fraud charges in the U.S. District Court, District of Nevada relating to a scheme in which it was alleged that he and others claimed that they could create gold from volcanic ash. Thereafter, Gardiner managed to persuade certain e-Smart employees to provide him access to the Company's technology and wrongfully converted e-Smart's proprietary technology to create his latest venture and dubbed it IDsmart, a variation on e-Smart's name -- in May of 2006
Based on the above-stated events, e-Smart filed a lawsuit against Michael Gardiner and others on September 11, 2006 [U.S. Dist. Court Case No. C-06-5528], alleging fraud and conversion among other causes of action. In that action, the court issued an order prohibiting Gardiner from using e-Smart's proprietary technology, anything derived from that technology, and anything obtained from e-Smart's consultants and/or employees that was developed during the employment or consultancy. Discovery continues and the litigation is being vigorously pursued by e-Smart.
More recently, Gardiner and IDsmart filed an action challenging the issuance of Patent 7,278,025, a lawsuit that suggests that Gardiner realizes that any product that he or IDsmart would produce would infringe on the awarded e-Smart Patent. Missing from the IDsmart press release is the fact that e-Smart's parent has filed a motion to dismiss the subject action which will be heard on February 1, 2008.
Mary Grace, CEO of e-Smart Technologies, stated that, "These statements
issued by Michael Gardiner are just the
|SOURCE e-Smart Technologies, Inc.|
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