http://ecoflexrtpv.com/

Fact-checking the claims made by Åke Paulson, the managing director of Ecorub AB

For some time now I have been reading highly questionable claims made by Åke Paulsson, the managing director of Ecorub AB. The claims, made in media and on the internet, are about the company and the patent owned by the company. Ecorub AB is a small public company company based in Piteå, Sweden. Ecorub shares are listed on AktieTorget.

I am going to analyze the statements from the Investment Memorandum of the company and co-relate to the documents in public domain I have found on the internet. All sources and links to them will bi placed at the bottom of each page.

As I do not have access to insider information my conclusions can be wrong because of the lack of information. I hope that this writing will encourage the readers to find more sources of information and to draw their own conclusions from these facts.

I do hope that you will enjoy the reading

ProfessorK

Investment Memorandum of Ecorub AB

The investment memorandum was published by Ecorub AB before the introduction of the company on the stock market.

The stock market introduction was done by Sedermera Fondkommission AB(http://sedermera.se/).

The original of the investment memorandum is stored here:

http://www.ecorub.se/wp-content/uploads/2010/04/EcoRub%20memorandum%20FINAL.pdf

and here:

http://www.aktietorget.se/pressdocs/ecorub/documents/ecorub%20memorandum.pdf

Investment Memorandum of Ecorub AB

Ecorub shares are listed on the Swedish trading platform AktieTorget (www.aktietorget.se).

AktieTorget is a small stock market focused on emerging, entrepreneurial businesses.

AktieTorget published 04 June 2010 the decision to accept Ecorub AB to trade shares. The decision signed by Ronny Westman (the person in charge of stock market introduction at the AktieTorget).

Here is the link to this news

http://www.aktietorget.se/NewsItem.aspx?ID=55241

On the page 6 of the Investment memorandum is the following text (Google translation from Swedish to English):

"Ecological Rubber"Ake Paulsson, entrepreneur, also Managing Director of EcoRub, has since the 1990s worked on developing methods for producing high quality products based on rubber powder produced from discarded tires. In 2006 EcoRub granted a European patent (EPO 1127918) for a technology to bind the rubber powder with copolymers and create a thermo-elastic rubber. The patent is wholly owned by the Company.

This is not the truth!

The truth is that Åke Paulsson have bought the right to commercialize the patent. The patent (page 1) clearly states that the inventor is: Edgar A. Gonzalez (owner and the CEO of Synesis www.ecoflexrtpv.com) while Rerub AB (now known as Ecorub AB www.ecorub.se ) is proprietor. So the patent is issued to the inventor Edgar A. Gonzalez not to Ecorub AB.

Link to the patent: Polyolefin blends containing ground vulcanized rubber

https://register.epo.org/espacenet/application?number=EP00200710&tab=main

Also here http://v.yey.nu/249fadf1bb.pdf

WHO IS THE INVENTOR?

Edgar A. Gonzales filed a request for assignment of the patent from him to Rerub AB (now Ecorub AB www.ecorub.se ). As a part of this request he attached a contract of sale. Here is the link to the request for assignment containing the contract of sale signed by Åke Paulsson as buyer and Edgar A. Gonzales as seller.

http://bit.ly/jzsPUQ

Edgar A. Gonzales (owner and the CEO of Synesis www.ecoflexrtpv.com) also patented the same invention in USA. US patent 6, 031,009 Polyolefin blends containing ground vulcanized rubber (see the next slide). The aforementioned US patent can be reached here as a whole:

http://bit.ly/iBI9JI .

All documents regarding this patent are in public domain and can be retrieved at the address:

https://register.epoline.org/espacen...10&tab=doclist

Further on the page 6 of the Investment memorandum is the following text (Google translation from Swedish to English):

EcoRub is, according to knowledge of the Board of Directors, the only company in Europe that has a commercially viable method that allows the rubber powder as raw material to produce a material that is competitively priced and feature-wise - "Ecological Rubber". This material in turn can easily be reused.

This is not the truth!

There are several (in fact a whole bunch of) companies in USA and Europe producing similar materials. Here are the links to the companies selling on the European market:

http://www.rbrubber.com http://www.rubberplastics.com http://www.enviroext.com/

The following Swedish companies are dealing with exact the same kind of materials as Ecorub AB or have very similar technology:

http://cefibra.com/ http://www.polyplank.se/ http://www.woodfiber.se/

Further on the page 6 of the Investment memorandum is the following text (Google translation from Swedish to English):

"Proof of concept"Ake Paulsson has engaged in the development work that led to the patented technology along with an American inventor. As the initial development work was completed and the patent would be sought decided Ake Paulsson and the U.S. developer to divide the rights geographically.

EcoRub sought and obtained patents in Europe and the American inventor's company, Ecotech Inc., sought and was granted patents in the U.S. and Canada.

This is not the truth!

In the request for grant of a European patent, the only person mentioned as inventor is Edgar A. Gonzales not Åke Paulsson. You can see that the document (request for grant of a European patent) is signed by inventor, Edgar A. Gonzales in 24 of February 2000.

See the next slide.

Further on the page 6 of the Investment memorandum is the following text (Google translation from Swedish to English):

HistoryIn the mid-1990s began Ake Paulsson of EcoRub AB (until 2008 Recycled Rubber, ReRub AB), the experiments which in 2006 resulted in the aforementioned European patent on a technology to bind the rubber powder with copolymers and create a thermo-elastic rubber.

This is not the truth!

It is earlier proved that the inventor is not Åke Paulsson but Edgar A. Gonzalez. This fact is clearly seen in the patent document as well as from the documents submitted to the Europian Patent Office for alignment of the patent from the inventor Edgar A. Gonzalea to Åke Paulsson of Rerub AB. Rerub Ab later changed its name to Ecorub AB.

See the following 5 slides

On the page 11 is the following text (Google translation from Swedish to English):

A Word from the Managing DirectorThis patented technology, I have developed in collaboration with an American inventor. For some years now has three companies in the United States licensed to produce ecological rubber. A large part of the production goes to the automotive industry. Thus it is proved that the technology works in the United States. The big challenge for us is to reach out the European market with our ecological rubber.

Once again it is not true!

Åke Paulsson, the managing director of Ecorub AB, is not the inventor.

He is a buyer of the patent not the inventor. The slides 13 to 17 revealed clearly who is the inventor (Edgar A. Gonzalez) and who has bought the patent (Åke Paulsson).

SOME QUESTIONS AT THE END

I am not pretending that this is the final truth. In contrary, I am afraid that these few cases might only be the tip of the iceberg.

To make false statements in an investment memorandum means breaking the low. To do this while all relevant documents are in public domain, easy accessible via Internet, is puzzling.

Does Åke Paulson believe that the investors are stupid or ignorant? I do not have the answer to this question. Have you?

So, if you are an investor, try to find answers by yourself.

Don’t trust my conclusions, draw your own.

In case that you will buy Ecorub shares anyway, buy also some Aspirin.

You may need it.