I was through after I sold out two years ago. But curiosity kept me following the events. The possibility of a windfall is real and this changes everything.
I am sure that you have read this:
Next, Cantor Colburn LLP ("Cantor") and the Company entered into an amended agreement pursuant to which Cantor agreed to accept 15% of any recoveries from the Company's pending patent litigation in excess of $3.6 million per year in exchange for all services rendered to date and moving forward. The Company recognized an $8,433,388 gain on extinguishment of debt upon the write-off of all accrued legal fees.
and the July Federal Circuit ruling which eviscerated McKinney's legal arguments.
C&C is not stupid and they did not give up millions for 15% of nothing.
The defendants (counsels) are not stupid and they knew what the July ruling meant.
There is more, but the bottom line looks very promising.
I am also curious how the many other infringing companies will be addressed; some are very deep-pocketed like Valero. That is one of the reasons that I am surprised at their willingness to "settle". It is taken nearly nine months -- with a few more months they would have had the court validation of their patents and the infringement which would have given them more legal leverage with the other infringing companies than this settlement with 15 or so current defendants.
Any thoughts on the reasons for missing last two filings?
The 500,000 BID size just vaporized and the BID dropped to 0.061 -- a ridiculous spread.
