HTP Inc v. First Merit Group Holdings Inc

CourtDistrict Court, W.D. Washington
DecidedFebruary 5, 2025
Docket2:21-cv-00732
StatusUnknown

This text of HTP Inc v. First Merit Group Holdings Inc (HTP Inc v. First Merit Group Holdings Inc) is published on Counsel Stack Legal Research, covering District Court, W.D. Washington primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
HTP Inc v. First Merit Group Holdings Inc, (W.D. Wash. 2025).

Opinion

1 The Honorable Barbara J. Rothstein

5 UNITED STATES DISTRICT COURT WESTERN DISTRICT OF WASHINGTON 6 AT SEATTLE

7 NO. 21-cv-732-BJR HTP, INC., 8 ORDER GRANTING DEFENDANTS’ Plaintiff, MOTION FOR SUMMARY 9 JUDGMENT v. 10 FIRST MERIT GROUP HOLDINGS, INC., et 11 al.,

12 Defendants.

13 I. INTRODUCTION 14 Plaintiff HTP, Inc. (“HTP”) brought this lawsuit against Defendants First Merit Group 15 Holdings, Inc. (“FMG”), NanoGen Technologies Group, Inc. (“NanoGen”), Barry Lee, Anthony 16 Dutton, David Richardson, and Evan Johnson, asserting various claims arising from the parties’ 17 business relationships. HTP claims that Defendants caused it to lose necessary financing and 18 business opportunities relating to its emission control technology. Currently pending before the 19 Court is Defendants’ motion for summary judgment, ECF No. 138. Having reviewed the materials1 20 21 22 1 Including the motion, ECF No. 138; Plaintiff’s response in opposition, ECF No. 146; and Defendants’ reply, ECF 23 No. 148; together with attached declarations and exhibits.

24 ORDER GRANTING DEFENDANTS’ MOTION FOR SUMMARY JUDGMENT 1 and the relevant legal authorities, the Court will GRANT Defendants’ motion. The reasoning for 2 the Court’s decision follows. 3 II. BACKGROUND 4 A. Factual Background 5 Phillip Jennings, Barry Lee, Evan Johnson, and their companies, have had long-term 6 business dealings. Opp’n 2, ECF No. 146; Talevich Decl. Ex. 1, ECF No. 147-1. In 2014, Phillip 7 Jennings, as Chief Executive Officer & Director of DEEC, Inc., entered into a transaction with 8 Barry Lee, FMG’s owner, whereby DEEC and Evan Johnson’s company became known as HTP, 9 Inc.,2 and Evan Johnson became HTP’s chief technical officer and director. Am. Compl. ¶¶ 11-12, 10 24; Johnson Decl. ¶ 2, ECF No. 142. Lee became an HTP shareholder. Lee Decl. ¶ 2, ECF No. 139; 11 Counterclaim ¶ 21.

12 HTP focused on developing diesel engine emission control technology for use in increasing 13 internal combustion engines’ fuel efficiency and decreasing their greenhouse gas emissions. Am. 14 Compl. ¶ 10; Johnson Decl. ¶ 2. HTP’s Internal Combustion Assistance technology (“ICA 15 technology”) was designed to enhance diesel engine performance through the injection of hydrogen 16 gas. Id. Johnson managed the development of the ICA technology. Am. Compl. ¶¶ 11-12; Johnson 17 Decl. ¶ 2. These development efforts were expensive. Am. Compl. ¶ 13; Johnson Decl. ¶¶ 3-4. 18 Despite having borrowed more than $3 million in December 2017 from Acamar Investment, Inc. 19 (“Acamar”), secured by HTP’s assets, by June 2018, HTP found it necessary to seek additional 20 funds to continue developing its ICA and related technologies. Am. Compl. ¶ 13; Johnson Decl. ¶¶ 21 3-4; Counterclaim ¶ 12.

22 2 Initially, the company was known as HyTech Power, Inc., but later changed its name to HTP Inc. To avoid confusion 23 with a later created company, HyTech Power, LLC, the Court will only refer to this entity as HTP.

24 ORDER GRANTING DEFENDANTS’ MOTION FOR SUMMARY JUDGMENT 1 In June 2018, HTP entered into a joint venture agreement with Joseph Clark, and his 2 company, JC Aviation Investments, LLC (“JCAI”), and a new entity, HyTech Power, LLC 3 (“HyTech”) was formed to research, develop, manufacture, and market the ICA technology. Id. 4 HTP contributed all its employees and assets, including its ICA and related technologies, to 5 HyTech, and Johnson became HyTech’s chief technology officer. Am. Compl. ¶¶ 13-14; Johnson 6 Decl. ¶¶ 3-4. Following this transaction, HTP held a minority interest in HyTech. Counterclaim ¶ 7 14. Acamar continued to own a security interest in HTP’s assets, which now was represented by 8 HTP’s 48% interest in HyTech. Id. JCAI contributed money, contacts, and experience, and as 9 majority interest owner, could appoint a majority of HyTech’s directors. Id. 10 Unfortunately, by late 2019, HyTech began experiencing financial difficulties, leading to 11 disagreements between HTP and JCAI regarding additional funding. Am. Compl. ¶¶ 17-20;

12 Counterclaim ¶¶ 15-16. And in early 2020, Clark, JCAI’s sole owner, died suddenly; JCAI sought 13 to wind-down HyTech while HTP sought funds to buy out JCAI’s interest in HyTech. Am. Compl. 14 ¶¶ 21-22. 15 On March 6, 2020, the HyTech Board determined that HyTech was insolvent and terminated 16 all the employees. Small Decl. Ex. B, ECF No. 143. During this time, Jennings, on behalf of HTP, 17 reached out to Lee (one of FMG’s owners and an HTP shareholder), and Anthony Dutton (a senior 18 manager at FMG) to value the technology and solicit investments on HTP’s behalf so it could buy 19 out JCAI’s interest in HyTech. Am. Compl. ¶¶ 22, 35-36. FMG also began lending money to HTP 20 to help fund Johnson and his team to they could continue refining the ICA and related technology 21 and develop test units (“ICA Units”). Id. at ¶¶ 17-18; Counterclaim ¶¶19-24.

22 In May 2020, JCAI began the process of dissolving HyTech by filing a Petition to Appoint 23 a Receiver. Counterclaim ¶ 18; Petition, ECF No. 38. And on May 27, 2020, HyTech filed a Motion

24 ORDER GRANTING DEFENDANTS’ MOTION FOR SUMMARY JUDGMENT 1 for a Temporary Restraining Order and sought a preliminary injunction in the receivership case, 2 arguing that HTP had acted contrary to the HyTech Board’s determination to suspend employment 3 and halt operations. Counterclaim ¶¶ 27-28. The receivership court entered a Temporary 4 Restraining Order on June 4, 2020. Id. ¶ 30. FMG expressed concern that JCAI was taking legal 5 action to stop HTP from using HyTech’s technology amidst ongoing demands for further funding 6 to continue testing the technology. Id. ¶¶ 29-31. Johnson presented a proposal to the HyTech Board 7 to resolve the on-going dispute and to continue funding the research and development of the ICA 8 technology, but the HyTech board rejected the proposal and did not authorize further funding or 9 development. Id. ¶ 32. On June 16, 2020, a preliminary injunction was entered in the receivership 10 case that enjoined HTP “from conducting HyTech’s business operations or using any of HyTech 11 Power, LLC’s products, assets, contact lists, and any other proprietary information in any way.” Id.

12 ¶ 33; Order Granting Preliminary Injunction, ECF No. 38. 13 Beginning in June 2020, FMG proposed that HTP raise the funds needed to buy out JCAI’s 14 interest in HyTech through a “Three-Part Deal” involving (1) negotiating the rights to the ICA and 15 related technologies; (2) procuring an agreement with Nabors Industries, Ltd. (“Nabors”), to form 16 a strategic alliance and purchase ICA Units; and (3) for FMG to solicit funds through a private 17 placement offering for a shell Canadian business entity owned by FMG. Am. Compl. ¶¶ 36-38. 18 HTP negotiated a purchase price of $10 million with JCAI, and JCAI agreed that HTP could test 19 the ICA Units before it received payment, provided HTP signed an agreement to pay the purchase 20 price within 60-90 days. Id. ¶¶ 45-46. If HTP did not pay the purchase price within that time frame, 21 it would lose its interest in HyTech, and JCAI would then own the ICA technology and the ICA

22 Units. Id. ¶ 46. David Richardson, a public relations professional working with FMG, and a 23 shareholder in HTP, became involved in negotiations with Nabors to purchase ICA Units and fund

24 ORDER GRANTING DEFENDANTS’ MOTION FOR SUMMARY JUDGMENT 1 further testing if certain fuel-efficiency tests passed successfully. Id. ¶¶ 47-51. FMG also took steps 2 to retain securities counsel in British Columbia, Canada to advise on the Canadian Stock Exchange 3 offering contemplated by the Three-Part Deal. Id. ¶¶ 37- 40; Opp’n Ex. 26, ECF No. 147-26. 4 Unfortunately, Nabors’ testing timeline was incompatible with JCAI’s deadline for 5 payment.

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HTP Inc v. First Merit Group Holdings Inc, Counsel Stack Legal Research, https://law.counselstack.com/opinion/htp-inc-v-first-merit-group-holdings-inc-wawd-2025.