T M M Inc (TMMI)

[Urbanlegend]

DNC,

If anything depends on the final conclusion of the litigation I think unless there is a settlement we are a long way from that. Tmmi has said they may be applying to adjourn the trial scheduled to go ahead otherwise in September. They are running out of time to decide whether or not to apply. If they do apply, there's no guarantee that the adjournment will be granted. But it might be, meaning that the trial will be reset probably for some date in 2017.

If the trial does goes ahead, the sole claim remaining is the claim brought by Dimension for a declaration that Dimension owns VDK 2. That may be resolved, but the other monetary claim has been dismissed "without prejudice", meaning it could be restarted in theory.

I've never really understood the assertion that the existence of the lawsuit is impeding contracts. Maybe it is, though, in which case contracts will be impeded for months to come by the looks of it. What does Tmmi do in the meantime? They need to refinance. It may well be that the existence of the outstanding litigation is making refinancing tough.

It seems to all come down to Tmmi's depth of commitment to VDK 2, and whether Tmmi is willing to concede an exclusive license to Dimension. If duedillenge3 is right, and if Cavenaugh's press release is correct, I'm not sure why they would hold out and fight, especially when they seem to have no ability to pay trial lawyers. They have a new lawyer --- perhaps a very good one, but not one who seems to do trials as a general rule. He does financing and re-orgs.

My take anyway.