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by Mike Caswell

Railtown AI Technologies Inc. denies that it owes anything to West Vancouver's Ljubo Mikulic, who is suing the company over a 10-cent stock option. Mr. Mikulic claimed that Railtown was supposed to grant him an option as payment for consulting work, but the company failed to follow through. For its part, Railtown says that its board never agreed to the option and Mr. Mikulic never signed the associated agreement.

The company is responding to a lawsuit that Mr. Mikulic filed in the Supreme Court of British Columbia on April 11, 2025. According to the suit, Mr. Mikulic introduced Railtown to a New York stock promoter named Michael Doleh. For his services, he was to receive an option to buy one million shares at 10 cents, he claimed. He complained that he made the introduction, but Railtown refused to honour the option.

For its part, Railtown says that Mr. Mikulic is not entitled to that stock option. In a response filed on May 30, 2025, the company agrees that it had an arrangement with Mr. Mikulic, but says that the arrangement was contingent on Mr. Mikulic entering into a full consulting agreement. The company's president, Cory Brandolini, signed a document regarding the option that was essentially an "agreement to agree," the response states. The board did not approve any option and the company could not grant an option with an exercise price lower than its current market price, Railtown says.

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