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Should be a down day today and tomorrow. Then a large move up next week. Watch the PCC. It will be below 1 after these next 2 days as options get changed from puts to calls. It is a bottom forming, probably not THE bottom.
Back to 310 forming head and shoulders bottom
Why wouldn’t we see the response to the administrative proceeding from INVT?
Renee,
It is well past the timing detailed in the administrative proceeding document. There is also no new information on the SEC website about that document and also no new SEC filings. The symbol has not been revoked. We had new trades reported as late as this Friday. Can you speculate as to why none of the things you predicted have happened?
trader59,
I agree with the last line of this message only in reverse.
I would say "It's a good thing it is tethered to the grey sheets and expert market where most brokers protect their customers by not allowing sell orders. That way the "DOOM AND GLOOM" chatter that is inevitable won't help anyone dump the stock.
By the way, if you want to sell me your holdings in INVT at 0.0122 per share just let me know.
Renee,
Thank You for your insight. I want to understand the possibilities available. There are a few of us that own a significant part of INVT. Kevin Kanning owns 30% of the company, David Robins owns 10%, and others that own below 5%. While we are all still holding, we have all been waiting for the payday. If Joe Beyers is smart he has already engaged lawyers that specialize in SEC filings and know the options. I think if we are all patient we will see a positive outcome with this stock.
trader59,
Maybe you missed the part where the pink sheets did not require ANY SEC documentation filings. I don't remember when they were delisted from the NASAQ to the pink sheets, but it was quite some time ago. Then for years they had no SEC filing requirements until the rules changed last year.
At that time the company was fully involved in the Apple Lawsuit.
I understand they owe money to the State of Delaware and maybe their agent and others. I believe they now have the ability to pay those debts and make their documents current.
As I have said in other postings, if their registration is revoked you will own stock in a private company. When they are re-registered, you will still own stock in INVT. There is no zero value in the near future as long as INVT does fix the SEC filings as I believe they will.
trader59,
There was a patent infringement lawsuit where INVT through Fortress sued APPLE, HTC, and ZTE. During this lawsuit Apple sued Fortress for Antitrust.
Apple lost the Antitrust lawsuit and all indications are that they settled the patent infringement lawsuit.
trader59,
A corporation can be considered void for many reasons. For example if they failed to pay the registration fee to the state of Delaware they could be a voided corporation. If the registered agent stops representing the company for any reason it could also be called a voided corporation. This state is easily fixed by the company paying any money that is owed.
Just in case you didn't know, INVT has been tied up in a very long patent infringement lawsuit for the past 4 years. I can imagine that there was little to no income during this time. INVT was delisted to the Pink Sheets and was not required to provide ANY financial information to the SEC until 8 months ago when the rules were changed. They were not in compliance with the SEC during the time between their last filing and the delist date. Then they were not in compliance since the rules were changed 8 months ago.
If the registration is revoked we will all be holding shares of a private company until the registration gets reinstated. NO NEED TO PANIC!!
Renee,
INVT has been "not current" for more than 4 years now. I find it extremely suspicious timing that this is happening today when we think a large settlement is arriving to the company. Do you think it is possible that this Administrative Proceeding is how an out of compliance company learns what paperwork the SEC needs to see to reinstate their registration? Could it be a normal part of the process of getting the filings current?
I do understand that the registration revocation is leverage that the SEC uses to make a rogue company comply. I just do not think the timing justifies this as a punitive action.
I think the TCA receivership is a non-issue. Also an old issue.
Maybe they have a lien on INVT?
The SEC administrative proceedings do not apply to pink sheet stocks.
Although, INVT was on the NASDAQ for some time after 2017. Maybe they are finally getting around to the 2017 delinquencies? Are they that far behind?
I believe that INVT has to update all filings with the SEC to get back to the PINK sheets and should be able to provide proof that they have indeed been in litigation via Fortress and have been successful. This should satisfy the SEC as well.
I am still holding and believe the settlements happened. I will be buying more shares as soon as I can.
New SEC rule 15c2-11 was changed effective 9-27-2021. Pink sheets are now required to submit some level of financial documents.
It looks like Apple has settled . Nobody can guess what is left over after paying Fortress or what the settlement amount was or what the tax might be. We can only wait.
They did not make the new SEC reporting paperwork deadline. They are now on the Expert Market and retail traders cannot buy shares. I think this is a temporary situation as it affects many stocks. I am still holding by choice.
I sent
It has been sent
A man had a terrible problem where he could not stop telling airport jokes. He went to the doctor to get help with his condition. The doctor said he was terminal.
I thought the queen preferred hotmail.
What is the best way to send private messages? I would like to contact a few others on this board.
I had hoped to understand from the call their view on the new SEC filing requirements.
I missed a return call from Kevin Kanning last night. His number is on the SEC filings.
The main number at Inventergy is being answered. I have left a few messages. So far no response from Beyers.
Has anyone tried to contact INVT about the results of the Apple settlement?
Fat, I am holding by choice and have added recently. I have shared my opinions with the others on this board mostly to keep the interest up. If anyone is still holding you are a speculator. If we win, I want a large win. If we lose, we all gambled and lost. If you have insight that would help, I want to hear more from you or anyone else.
My motivation is quite clear?
Tennis, If you don’t appreciate my opinion………
Tennis, #5 is probably true only because if there are no buyers you might not be able to sell. Same as any low volume stock. Not an SEC rule.
#3 sounds like scare tactics.
Please read the rule for yourself as I have.
If your broker chooses to treat you that way it is their choice, not a mandate from the SEC. They are subject to fines if they do not follow the new rules.
The new SEC rules are effective August 26. They require all OTC companies including pink sheet companies to report certain information to brokers so they can offer bid and ask prices. The new rule does not and is not intended to provide shareholders with financials. If INVT does not comply they will not be accessible to the retail buyer. This rule does not prevent us from holding or selling , we just cannot buy more if they have not satisfied the rules. Today, the lawsuit is not over and the proceedings are sealed. This means they cannot disclose details about the case and any settlement. It is in INVT’s best interest to stay tradable and move back to the NASDAQ. Do not panic.
After a google search I now think the settlement is taxable.
Remember that Apple owed back license fees for all of the iPhones made for the past 7 years. Since this was willful patent infringement they would have been hit with triple the damages + court costs. This number could have been very very high.
My earlier guess of $500 million is way too low. What is everyone else thinking about settlement amount?
It normally would not, but the Jun 21 dismissal stated each party was responsible for their own court costs as part of the settlement.
We are all on the same page. Price will go up. I thought court settlements were not taxable. Seems like the $2 price estimate is too low.
Prior to any settlement all of the Fortress fees would have been considered court costs. Their involvement is only to provide deep pockets to hold up against Apple. The patents were transferred to a holding company because you cannot sue unless you are the owner of the patents and maybe they needed collateral. I have never seen any 80/20 split . Where did you get that information?
Today’s company value.
$500,000/19 million authorized shares = 0.026 dollars per share. The $500k is a generous number.
If settlement results in $500 million this changes to $500 million/19 million = $26 dollars per share. I think the $500 million is a low number.
Remember that the cost of Fortress has to be paid before the rest is applied to the bottom line.
What is everyone else thinking?
I heard about this August 28 change a while back, but I thought it only applied to the highest class of pink sheet stocks. I thought they defined 3 classes and this only applied to the top class. In any case, I also think Kanning will not allow anything bad to happen. He might stand to lose his $159k.
I agree with this analysis. In the big picture Kanning buying is a good indication for INVT holders. I think Beyers and Kanning talk.
I think a short squeeze is what we need. Need shorts first. Who would short at this price after good news?
I have been holding for a long time. No need to be impatient now. There has got to be more than 3 of us.
So priority 1. Finish the lawsuit.
2. Make SEC documents current.
3. Get price above $1 for 1 month
4 Relist with Nasdaq
I remember Sept 28 was the new deadline for pink documents.