secwatch.observer — SEC 8-K summary
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Issuer:     Bimergen Energy Corp (BESS)
CIK:        0001066764
Form:       8-K
Filed at:   2023-02-24T23:59:59+00:00
Accession:  0001493152-23-006013
Event type: litigation
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 1.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bitech Technologies settles lawsuit with Calvin Cao and SuperGreen; 51.5M shares canceled
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- Settlement with Calvin Cao and SuperGreen terminates License Agreement and cancels 51,507,749 shares of common stock.
- Mutual general release of liabilities; non-disparagement obligations between parties.
- Bitech will dismiss with prejudice claims against C. Cao and SuperGreen but continue lawsuit against remaining defendants (Michael Cao, B&B Investment, Linh Dao).
- C. Cao and SuperGreen to return company property including Ethereum Mining Ridge and Enphase Battery System.
- C. Cao agrees to cooperate and testify in ongoing litigation against other defendants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1066764/000149315223006013/0001493152-23-006013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1066764/000149315223006013/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-006013

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer