Calypso Wireless (fka CLYW)

[Mobile1230]

Is Calypso Wireless still alive? Came across news today
Calypso IP Returns a Former Calypso Wireless Patent to Litigation https://insight.rpxcorp.com/news/82095-calypso-ip-returns-a-former-calypso-wireless-patent-to-litigation

[drkazmd65]

I took the tax loss from this a couple of years ago to help offset a gain elsewhere.

C'est le vie?

Hope you are doing well.

[sirhaggus]

All of us did. What a colossal waste of several years of our lives and so much money. Now every phone transitions seamlessly between wifi and cellular without so much as a blip.

[sixpack]

walking through the cemetery. lost a ton here..

[litton51]

CLYW - Calypso Wireless, Inc.

CLYW is a stock selling scam that has had former officers accused of fraud.

Since 1997 Calypso has had no revenues from the sale of any product.

If I had been given free shares I would dump them.

If you need a write-off by all means buy it.

Robert Leon the inventor of the patent is gone and is selling all the shares he can as fast as he can.

On December 6, 2005, Robert Leon, the Company's former Chief Technology Officer, commenced an action against the Company seeking additional compensation and reimbursement of certain expenses. The Company believes that it has fully complied with all of its obligations to Mr. Leon and does not expect the outcome of the action to materially adversely effect the Company.
George Schilling the former CEO has lost his memory according to his public statements and remembers no transactions while he was president.

Calypso has changed accounting firms more often than they have recorded any legitimate deals.

Do your own DD and by all means do not listen to the Calypso employees posting on other boards telling you to buy this over-hyped, high risk, stock selling, no revenue, PINK SHEET POS company!

http://www.siliconinvestor.com/subject.aspx?subjectid=55877

[pumper_stumper]

Thanks for all the great info there.

Yep, many times the officers get off free while the stockholders who time and time again defended them to others who were critical, get left holding the pink sheet bag!

I will comment though that no business school is ever going to use a pink sheet stock as case study.

[litton51]

The SEC suspended trading three years ago as it called CLYW a scam and its officers crooks. The officers soon disappeared, one to Paraguay. The receiver was ordered to roll-up the company while making sure stockholders got money for their shares. After three years the receiver complained that he didn't even get reimbursement for his "work" and under stockholder questioning reported that there was zero worth to the company. Another poster here has reported that the patent that was declared worthless at a badly botched trial had been purchased for an undisclosed sum by an unknown entity. This story will certainly become a business school case study. The former officers have so far gotten-off scott free.

[pumper_stumper]

All shares purchased here in this one are now worth zero? Not even traded?

[litton51]

On the bright side, I can use all my CLYW stock certificates to wallpaper my entire house for free!

[sirhaggus]

Well friends it has been a long ride. I've invested countless hours and many dollars into this venture. Lots of lessons learned.

The receiver did what he could. There was no assets to move forward with anything. Can't get blood out of a stone. He, like many folks will not be reimbursed for his time or effort. He made a number of public filings that you can read if you like - nothing particularly noteworthy.

Best of wishes in all your future investing endeavors.

[On2_addict]

I do not even remember, but think it was between 200 and 300 million. I only had 65K, but came out only okay as I bought in at an average of .30

Hoped that CLYW would be another, but another one that did not work out. Now T-mobile uses the switching on my own iPhone!!!!

TRTC will be a great play, but not sure at what price I would get in if I was not already in at .10

[ki2002rom]

How many shares were outstanding? You think $3 is reasonable expectation? Attorneys fees on top, yeah, like you said interest also.

[On2_addict]

Hope so too. I doubt they will take it to the supreme court, but you know google.

They should just pay up for what they have done. I am sure On2 is in every video on youtube.

Should make for good damages!!! $3 per share would be fine, plus interest.

[ki2002rom]

Looks like the day is nearing for our ON2 payback.

[On2_addict]

TRTC is what you guys should be looking into to recoup your CLYW losses.

They are the only publicly traded company in the USA with marijuana dispensaries. They have two open right now. One in Oakland California, and One in Las Vegas.

With full legalization on the horizon in both states TRTC is poised to become a leader in a new sector.

Federal rescheduling of Marijuana is also likely to happen this year. If it does the floodgates should open.

Do your DD. The TRTC board here on Ihub is good.

[ki2002rom]

IMSC is cats meow for explosive narcotics detection.
http://12345678.freeforums.net/ and ihub's board. Will fill you in more later heading to work. Read the boars for some DD.

[Militaryissued]

Please expand on your statement

[ki2002rom]

Guys I remember bringing to your attention IMSC couple years back. What happened to INVN? The same is imminent.

[Visnusahasranama]

Frazier sued the receiver after the tmobile case and he was given the patent

[big deal]

Thanks again. Appears to me that Drago sold his patent ownership to Frazier? In any event, the long journey has finally come to an end.
Coulda, woulda, shoulda, the well known mantra of the stock holder
certainly applies here. Best of luck to all.

[Eli's Gone]

Don't know any details, but stick "calypso wireless" in the search field here:

http://assignment.uspto.gov/

[big deal]

So how is it known that Frazier and Drago bought the patent ?
Is there a public record of that as well ?

[big deal]

Thanks ElisComing.

[Eli's Gone]

Screenshot:

[big deal]

Re: https://drive.google.com/open?id=0ByhT6XrNEu-XM1hSQmxwWXNCWEk


This web address will not open for me. Is there any other source that I can go to to access the dissolution record ? Thanks.

[lipsync]

We had a judge who ordered a Receiver to maximize shareholders and we had an investors who said to hell with that. I doubt the patent has any value now looking back at the revised claim construction. I wish Drago and Frazier all the luck in collecting.

[drkazmd65]

I guess it is time to use 2016 as the tax write off year then,...

In the "small blessings" category - at least I have some net gains for 2016 I can write these losses off against. A few other things have gone generally well.

But yeah - it would make an interesting case for somebody to write up for a textbook of what NOT to do.

[litton51]

An interesting ride and soon to be a case in business school. One can't help but wonder about the principals involved.

[drkazmd65]

I wish I could say I was surprised at this outcome,... But obviously we all had to figure by this point the company (& us) were toast.

Cest la vie?

[lipsync]

It is officially over folks.

It appears Frazier sued the Company and the Receiver and he was awarded the Patents.

Any thoughts or comments? Reflecting back, what was in those documents that made the attorneys filed a second infringement case, and why was it later pulled?

Calypso's Dissolution Letter:

https://drive.google.com/open?id=0ByhT6XrNEu-XM1hSQmxwWXNCWEk

[Militaryissued]

Yup

[ki2002rom]

Still here.

[litton51]

My experience is that the SEC doesn't get involved with penny stocks. The FBI doesn't take an interest in matters where an individual's loss is less than $50,000. The Secret Service (yes, they deal in financial crimes) says if you invest in penny stocks, you are on your own. We took a gamble with CLYW and we got barbequed. Everyone associated with CLYW has either fled the country or disappeared. I know a broker whose loss is in the six figures.

What is most disappointing is the court's utter disinterest in what happened and who is to blame. The courts are not supposed to care the dollar amount of the crime.

Remember the names of the guilty. I'm sure they will be back some day.

[wooden]

It was my understanding that the judge that ordered the receiver to wrap up the bussiness affairs of CLYW had wroked for the same law firm as the receiver. I thought the smell of fish was in the room at the time and stated such on this board. CLYW was at the time of confusion a publickly traded company where shairholders were crying out for legal help from the sec, and none ever came. Funny how the government can make regulations to safegard the public, but when they cry for help, there;s no one there! If this receiver cannot conduct the business ordered by a judge, then who is liable????? I say the judge is now responsible to us the bag holders!!

[litton51]

Ask him. I did.

[Mobile1230]

What kind of expenses receiver was expecting?
What has he done for CLYW and shareholders?
we haven't seen single update from Receiver in 3 years.

[litton51]

IIRC, the judge gave the receiver three years to roll-up CLYW and see that the shareholders got the most return on their investment.

I called the receiver some time ago and he told me he was basically done with CLYW -- didn't even expect to get his expenses back. Since then, nothing.

Hope this helps --

[wooden]

Testing Testing!!! any bag holders still looking at this message board?? Can someone give a clue as to the dealings with the judge in "MERRY LAND" is going to do since his receiver has had his hands tied??

[Visnusahasranama]

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[drkazmd65]

Interesting. Who knows if that means anything significant to us though.

It's something though,...

[Eli's Gone]

Yep--got both patents--what do it mean"

sordid assignment history here:

http://assignment.uspto.gov/

put "calypso wireless" in search box

[Twin2569]

Looks like calypso interest in patent has been reassigned


Frazier L. Scott
32064 Pacific Coast Highway
Malibu,California 90265

Date recorded 10/23/2015

Date assigned 8/27/2015

Reel/frame
36863-265

Atty: Feldman Gale,P.A
5335 Wisconsin Ave NW
Washington, DC 20015

Frazier was also part of the Albosta lawsuit

[Eli's Gone]

I haven't...is the rceiver still alive?

[Phique33]

Has anyone claimed this as a loss this year or is most still holding out to see what happens?

[Eli's Gone]

Call your broker--they will most likely "buy" them from you as a worthless security (the sale price will be either 0 or a penny or some nominal price)---this will give you a trade date and you can declare the loss this year with no hassles....

simply declaring the security worthless is a bit more involved--so talk to your broker....

http://finance.zacks.com/report-loss-worthless-securities-taxes-3180.html

[atlas101]

Need to claim this tax loss on CLYW. I can't really sell it - so is there a letter I need that someone either has or can direct me to? Thanks in advance. What a painful joke this turned out to be.

[wooden]

I guess I have to agree with you on Dave's con job. also why is he not still going after this? truth is , there seem to be no law that will protect 7us shareholders from the likes of the judges and receivers in cases like this!! Shame on us for being investors in a system we once believed in

[THE_BAMFACTSTER!!]

Correct , the remaining problem isn't in the past but that is where all CLYW problems started with and that is with Dave Williams. Just read the court docs.

Correct also that the receiver has not done his job either.

It all went down hill from the time Dave Williams came on board !!

Remember when he conned investors into sending him money so he could make copies ?!?! ROTFLMMFAO !! That was a joke !!

Him and his accomplice scammed investors out of money when he was asking investors to send him money so he could make copies of the records that he was holding hostage.

Just more money Dave put in his own pockets.

BAM !! FACT !!

[wooden]

The remaining problem is not with the past here at all!!! It's with the receiver not following through with the orders given in the Maryland court, and nothing has been done!! How legal is that?? At some point, he has to be heald accountable to us the remaining shareholders, but this must come to an end!!

[THE_BAMFACTSTER!!]

All those answers and more are in the court docs , Everything in there makes it crystal clear !!

Old Dave Williams even lied about who he was on ihub. !! OOPS !! LMAO !!

BAM !! FACT !!