XERION ECOSOLUTIONS GROUP INC.
Filing Type: 8-K
Description: Current Report
Filing Date: February 20, 2004
Period End: February 9, 2004
Primary Exchange: Over the Counter Includes OTC and OTCBB
Ticker: XECO
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Table of Contents
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8-K
ITEM 5.........................................................................1
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15d of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): February 9, 2004
XERION ECOSOLUTIONS GROUP INC.
(Exact name of registrant as specified in its charter)
Colorado 0-26760 84-1286065
(State of Incorporation) (Commission (I.R.S Employer
File Number) Identification No.)
Suite 905, 102-4369 Main St
Whistler BC, Canada, V0N 1B4
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (604) 696-0073
Former name: IMMULABS CORPORATION
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ITEM 5. OTHER EVENTS.
Purchase Agreements Canceled
On January 7, 2004, the Company received final results from an independent
review of its patent application for XRS technology. The review was conducted by
Dr. David Dreisinger, President of Dreisinger Consulting Inc. who is a
specialist consultant in the field of hydrometallurgy.
Dr. Dreisinger confirmed that much of the chemistry surrounding XRS technology
is known to be valid but pointed out that these valid components appear to have
been developed by parties other than the Vendors. The Vendors of the technology
(Byron Knelson, Ryan Jones, Richard Hewlett) previously maintained that a new
component of the chemistry, purportedly developed by them, adds significant
value to the existing body of knowledge. However, documents supplied to Dr.
Dreisinger by the Vendors have not confirmed their claims. The required test
work appears to be either insufficient or non-existent. This is contrary to
numerous and specific previous representations made by the Vendors that
'extensive test work' had been conducted, which verified their claims. It is
unknown at this time whether reliable scientific test work was actually
conducted by the Vendors prior to selling the technology to the company. The
Vendors were given ample opportunity to respond to Dr. Dreisinger's report with
further evidence in support of their claims, however, they have failed to do so.
The Company has cancelled the purchase agreement with the vendors and is taking
steps for recovery of shares that were granted to them. Additionally, the
company is currently evaluating its legal options for return of funds expended
in reliance upon the vendor's representations.
On March 17, 2003, the company entered into agreement to purchase 67 mining
claims from Richard Hewlett. Mr. Hewlett was to deliver documentation of his
previous exploration work on the properties to the company. He has neglected to
do so. The company has canceled this purchase agreement and recovered the shares
that were granted related to the purchase price.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: February 20, 2004
XERION ECOSOLUTIONS GROUP INC.
By: /s/ Ben Traub
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Ben Traub
President