Ramyac-
e.Digital is judgement proof. There is no meaningful income, no property and no assets. The patents have essentially been proven to have no real value other to serve as fodder for nuisance claims, the success of which is entirely dependent upon the advocacy skills of third-party lawyers hired by e.Digital to attempt to extract nuisance settlements, with greatly diminishing returns apparent. Thus, there is nothing of tangible value possessed or controlled by e.Digital, rather any value or revenue is created entirely by the independent lawyers.
Why is this important? Because there is nothing of value to satisfy any judgement that might be obtained against e.Digital. Presumably a potential lawsuit against e.Digital would sound in fraud or misrepresentation by e.Digital's officers to the detriment of the shareholders. Misleading statements intentionally made are generally not covered by insurance, and such statements were made by individuals in their employ by e.Digital. Thus, the shareholders have a potential action for intentional conduct made on behalf of e.Digital which is unlikely to be covered by insurance, with a judgement proof company unable to pay any meaningful judgment that may eventually be obtained, assuming a bankruptcy doesn't stay the proceeding and derail the potential claim altogether.
Who is willing to throw good money after bad in attempting to file a potential lawsuit which, if successful in leading to a meaningful judgement, is unlikely to be satisfied?
At a certain point in time, which for most investors was 10-15 years ago, one has to say enough is enough and move on in life.
JMHO
