Time line: Invention too good to be true
By LEONORA LaPETER ANTON
Published July 1, 2007
April 1996: Brent Kovar and his father, Glenn, form Satellite Access Systems Inc., a Nevada corporation.
September 1997: The Kovars tell investors SAS has either signed or is considering contracts worth $2.3-million a month.
April 1999: SAS, $4-million in debt, is acquired by Corsaire Inc., a provider of security services with offices in Fort Lauderdale and California.
September 1999: The Kovars refuse to turn over the technology to SAS' new managers to test its authenticity. They say Corsaire failed to pay off all of SAS' debt and provide agreed-upon shares. Brent, Glenn and Joy Kovar are fired from SAS.
October 1999: SAS sues all three Kovars.
2000: Brent Kovar founds Sky Way Global LLC, a high-speed broadband wireless service company.
Spring 2002: A newsletter to investors says five members went to Washington and "initiated high-level contacts."
2002: The Kovars form another company, Sky Way Aircraft Inc.
November 2002: A business plan says the management team was invited to dinner with President Bush. The plan quotes Bush as saying, "We need you."
July 1, 2003: Brent Kovar is issued a patent for a "digital data transmission utilizing vector coordinates within a hyperbola model."
2003: Kovar and others obtain control of a public company that they name SkyWay Communications Holding Corp. They market security to the airline industry.
June 2004: The company obtains a 1966 DC-9 airplane to demonstrate the technology.
December 2004: A dozen plaintiffs from Kuwait and Saudi Arabia sue the company. The case is settled in 2006 for an undisclosed amount.
June 2005: SkyWay Communications files for bankruptcy.
December 2005: Nineteen people from Kentucky, Illinois and Ohio sue Sky Way Global and Brent, Glenn and Joy Kovar. The plaintiffs say they invested $775, 000 based on false and misleading statements.
Feb. 15, 2007: A Pinellas County jury orders all three Kovars to pay SAS $36-million, among the largest verdicts in Pinellas history.
May 23, 2007: A federal bankruptcy judge approves a reorganization of SkyWay Communications as World Capita Communications Inc.
March 28, 2007: A judge approved a default judgment ordering Sky Way Global to pay $1.1-million to the investors from Kentucky, Ohio and Illinois.
June 14, 2007: World Capita files a complaint in bankruptcy court against Brent and Joy Kovar alleging fraudulent transfers of money and unexplained expenses.
[Last modified July 1, 2007, 08:18:38]
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