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FROM gATURFIL RESOURCES SEC. 303 866 355E 1996, 11-13 10:SS #76 P.06/07 <br /> UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLORADO <br /> IN BANKRUPTCY <br /> Ih re } <br /> JOHN SMITH, ) Adversary <br /> } No. <br /> } <br /> Bankruptcy <br /> JOHN SMITH, } No. _ <br /> Plaintiff(s) , j <br /> } <br /> V. } <br /> RICHARD ROE, ) <br /> ) <br /> Defendant(s) . } <br /> DIRECT TESTIXONy OF JOUN SMITH <br /> 1. My name is John Smith and I am the Plaintiff in <br /> this action. <br /> 2. On February 1, 1983, Richard ,Roe and I entered into <br /> a written agreement bearing the same date and marked . as <br /> Plaintiff's Exhibit 1. <br /> 3 . At the time of signing the agreement, I gave the. <br /> Defendant, Richard Roe, my personal check for $50,000, which he - <br /> subsequently negotiated. <br /> 4. One week before we signed the - contract, Mr. Roe <br /> showed me a special carburetor attachment which .h+e claimed he had <br /> invented and had a patent therefor. At 'that time, Mr. Rc�e said <br /> tc, me that the attachment 'WOUld reduce .by. SO percent gasoline <br /> cvnsumptian Of any engine -.to which it was attached. <br /> time,5. At the same said that he was <br /> negotiating with Genera]. Motors, who had offered ered $2 0 million for <br /> an exclusive license to use and manufacture the patented, device. <br /> However, Mr. Roe said he felt he was negotiating for a non- <br /> exclusive license -so that the product could subsequently be <br /> licensed to Ford, Chrysler, and other automobile manufacturers. <br /> had a 6. Three months after the contract was signed, I still ot received assignment of One-half interest in the patent <br /> rights to the device and in fact Mr. Roe has stopped returning my <br /> calls; his phone was disconnected and he had moved out of the. <br /> rt <br /> apartment where had been residing. <br /> 4 <br />