- 5 - During the period January 1, 1990, through December 31, 1994, Sealodge did not have any cashflow available to increase equity, and Sealodge never paid a dividend. As of December 19, 1994, Sealodge did not have any liabilities. On or about August 7, 1987, Sealodge registered a trademark with the U.S. Patent and Trademark Office for the name “Jules Undersea Lodge”. This trademark expired on September 26, 1994, and was not renewed. As of December 19, 1994, Sealodge’s assets consisted of: (1) A submersible barge known as “Jules Undersea Lodge”; (2) a command center; (3) two diving bells; and (4) other miscellaneous equipment whose value was not of significance. A plan of liquidation was in place on the valuation date so Sealodge’s assets could be distributed to MRDF. Sealodge was liquidated as of December 31, 1994. Jules Undersea Lodge Jules Undersea Lodge was built in 1972 by Perry Submarine Builders (Perry). It was originally named “La Chalupa” and was constructed with private funds advanced by John Perry, the owner of Perry. Operational funds for La Chalupa were provided by the Government of Puerto Rico under the Puerto Rico International Undersea Laboratory program (PRINUL). The vessel was designed to house researchers for a week or more at a time at depths of up to and not exceeding approximately 160 feet. During the earlyPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Next
Last modified: May 25, 2011