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"The past is the past. Let it go."
Unfortunately, this bit of advice is lost on Wolf and his cohorts.
SGE
Anyone who doesn't read the boards
is certainly disadvanaged to a degree, in that (seemingly rarely) valuable insights and conjecture is shared. Whether it be a PACER or something else, those that don't read don't get the benefit.
What do you plan for all those poor soles who are ignorant of everything posted on the boards - beyond PACERs?
SGE
Moxa - Hey buddy, why you thinking this?
Okay, I guess I KNOW! LOL This has dragged out to this point....
Me, Milestone and a few others are thinking that this thing might wrap up on Monday (17th) or Tuesday. Reason being that there was no (public) ruling on the joint request for Stay of last Monday, suggesting that either the Judge ruled covertly or informally that "I'll give you guys one more week, and that's it". I personally suspect that without a settlement before the rescheduled PreTrial Conference, the Js may face sanctions, further weakening their defense at trial.
The "one week" thought falls from the reschedule of the Pretrial Conference, moving it out just one day (permitting the full "one week").
Maybe you're thinking "the courthouse steps" on their way to the Pretrial Conference?
Just my/our suspicion....and of course I KNOW nuttin'! - 'Cept that I'll be watching things real close for the next few days!
SGE
Curt - Thank you for your civil reply. You ask:
"....ptsc needs recurring rev contracts, then maybe this is what's keeping other speculators from jumping on and running this stock up? Maybe?"
Well, maybe it has a little to do with the fact that we are engaged in litigation - and the uncertainty that brings. And/or maybe it has something to do with not KNOWING the numbers from the recent licensees (which may be much larger than some suspect).
With a settlement or win at trial, the litigation uncertainty goes away (along with uncertainty as to the validity of the patents). Any settlement, for virtually any amount, should be viewed as a "win", IMO.
It is frustrating for our PPS to languish when things, IMO, look so good. Hopefully things will change in a big way very soon!
SGE
Pedro - you say "How many? Any zero growth company with a pile of cash.". Okay, you make it sound like they are a dime a dozen, so name a dozen such companies.
Apparently you miss the point. I intentionally said "near term" - ignoring the other 450+ companies on notice. I also ignored the fact that just sitting on the money is not PTSC's stated intent.
I just gave the simplest of examples to reveal that the "no recurring revenues" argument is pretty weak. Especially when considering that per the example, PTSC would still have $100M in the bank (ignoring taxes).
I'll be looking for your list of a dozen companies with this example circumstance. Good luck!
SGE
Curt - I've heard this agrument about the need for recurring revenues so many times.... I'll give you a brief version of my standard response to this, IMO, lame argument.
IF PTSC can manage to bring in a mere $100M near term, and simply place that money in a virtually risk-free investment vehicle for say 10% return, you've got your recurring revenue stream. Now, how many companies can promise risk-free revenues of $10M per annum?
Just a simple example to make the point.
BTW, Intel only produces 2% of the chips; AMD a similar amount. You may want to do a little bit of DD before you spew such non-sense.
TI, SUN, MOT, Etc., etc., etc. Then there's Apple, Dell, Samsung, LG, etc., etc., etc. BTW, they're not so interested in pursuing chip makers, but chip users first, because they want to get as many 2nd tier companies as they can FIRST. Going after the chip maker kills going after the companies they supply. Again, do a little DD and THINK.
Hope this helps, and offsets your FUD.
SGE
Thank you Wolf and Ease.
SGE
Hey Ease, and the other folks I haven't seen in a while....
Hope you guys don't mind me dropping by.
As far as MSJs, as I recall it, Ronran suggested they (often?)come AFTER a MSJ is filed, but before the Judge rules. I'm thinking that Ron (or was it somebody else?) suggested the "before the Judge rules" because (particularly with Asian defendants) it is their last opportunity to settle AND save face.
But it seems to me the pressure would be far greater if the Judge had already ruled in our favor. How soon after? One would think PDQ, just to stop the litigation costs (both sides).
I look forward to hearing what your friend has to say.
Thanks,
SGE
BTW, things appear real peaceful over here. I recall a time where it wasn't a very happy place (though I'm probably thinking to the EDIG board).
Cass - Interesting scenario, but all of your underlined figures ARE WRONG (how can the DIFFERENCE be greater than the total? e.g., 180,500 - 8,300 = A DIFFERENCE of $172,200, not $191,200). Maybe correct and repost? Maybe not necessary, as the point is made. But still....
Likewise, all the bolded final sentences.
"If they just would have sold and not reinvested, they would be ahead by $10,500." No, it would be 19,000 - 8,300 = 10,700.
"If they just would have sold and not reinvested, they would be ahead by $24,500." No, it would be 51,000 - 8,300 = $42,700.
Buy a new calculator! LOL But, again, the point is made. Woulda-coulda-shoulda!
SGE
Berge - OT re: IQs. Saw a national news blurb earleir, talking about proposed cuts in student loans. They interviewed a SC Davis student who, because of the cuts, will not be able to attend law school. He said "and there is millions of other people just like me". "IS"? This was immediately followed by an interview with some woman involved in the funding, and she did the same thing; said "is" when it should have been "are". Amazing, and on this subject....
SGE
Cass - Thanks! SGE eom
WSJ - Was a joke - though I do wish they'd come up with a better name!
SGE
wsj - makes you wonder what would happen if EDIG changed the name of the device! (and I wish they would - the "Medeviewer" is cumbersome [Mobile Entertainment Device E Viewer?] and too "clinical" sounding).
SGE
Cass - Thank you for the reply, but, my suggested change to your proclaimation stands. They didn't exercise their registration rights, and therefore did not convert. Not enough shares authorized? Per business quotes, there is a float of 175.26M shares, yet until recently, there were 200M shares authorized. To my untrained eye, it would appear there were nearly 25M shares available (which were probably set aside "just in case"). For the past few months, there have been another 100M authorized shares. Why didn't they jump on them?
So I'd say that yes, there is the POTENTIAL for dilution based on this financing, just as there is always POTENTIAL for dilution if the company acted using authorized shares. But until any of these things happen, it is merely a POTENTIAL, not a certainty as you seem to suggest. In fact, I would think that the feared dilution would more likely occur due to company actions, not those of the financiers (though, as you point out, they might would quickly follow).
BUT (another big butt! LOL), it would appear that the company would have no reason to act in this fashion for some time to come - they just got an infusion of $500K (sans any other income).
JMHO,
SGE
Cass - BUT...you should probably restate thusly: "Unfortunately, this is POTENTIALLY dilutive financing as this is fully convertible debt". I only suggest this because this is an amendment to prior terms/financing to add $500k and the Mede carrot, and an extension on time. And I believe this is the second/third (fourth?) time extension of the same debt with the same "friendly investors", with the same or similar conversion terms as in the past. Have any shares been thus converted in the past? Same opportunity existed, but has it been exercised? Perhaps strike prices haven't been attractive? No incentive to exercise the conversion option? No desire?
I don't know all the answers to the above, but I'm sure you do. But I strongly suspect that no conversions have occurred on this front (or why would the outstanding debt still be outstanding?). As someone who has such a great focus on the past and how it will repeat, I'd think you'd acknowledge and expect this to repeat as well (and not jump to a conclusion inconsistent with the past).
But I KNOW nuttin'!
SGE
Cass - First, please accept my apology for pursuing an erroneous line of thought - that Atul remains as CEO for some period beyond the date of his resignation. That word "effective" I think hit your mark. But I do have to suggest that virtually every company has an established pecking order, so that if one person of authority becomes unavailable for any reason, that person's authority is automatically delegated to someone else within the company. Without such a system in place, any incident causing an authority to be become unavailable would stop all business (e.g., if the CFO is in a comma, paychecks can still be signed and issued). Hence your default to Sr. VP Putnam.
SGE
Cass - Pardon my asking, but how do you know his departure date was 10/26/05? I haven't seen that anywhere.... Perhaps your email to RP will resolve this (I'm assuming you sent one). If he says Atul is still CEO, I guess we'll know who's reading this situation correctly. If not, and it's someone else on an interim basis, you'll receive my apologies.
Thanks,
SGE
resqjuc - Your source?
SGE
Fred -You may be right to a degree. But the reality is that, after the shareholders meeting and Atul's pitch that I strained to understand (without much success), I had bad visions of uh, uh, uh FF seeing customers with "wha'dhesay?" Atul in tow. Not pretty.... I'm not knocking Atul, his capabilities or his probable contributions. But effective communication is everything, especially when you're trying to sell something. BTW, I suspect you've read my posts in this regard on Agora, and that's where your thoughts about my take are coming from. Maybe from my replies to Cass? Her immediate jump to a conclusion that EDIG was in violation of SEC regs because Atul had tendered his resignation was silly at best, so I gave the benefit of the doubt that she hadn't thought things through. Not good for the credibility in any case.... Of course I'm sure I've put my credibility in question more than once, though I'm usually pretty quick to acknowledge my foul up and/or ill-thought conclusions.
SGE
A resignation date is not necessarily a departure date, it's just the date the person gave notice. Again, think about what you are saying! In your interpretation, every time a CEO of any company tendered their resignation, the company would be in immediate non-compliance with the SEC. I seriously doubt that is the case. Further, I'm certain that SEC grants some grace period for companies that are blind-sided by an abrupt resignation and instant departure (like in a case where the CEO is pissed or under review for possible wrongful behavior and escorted out). Per the SEC filing you quote, Atul is leaving under agreeable terms; why wouldn't he include a few weeks notice?
Wait till Atul is known to be actually gone (and not using accrued vacation, if he so chose), then shoot your flares.
You make me want to use "the forbidden word"!
SGE
Cass - Think about what you are saying! The CEO is Atul. When he actually leaves (circa 11/11), I'm sure EDIG will advise of who (temporarily) will be filling this role, with all proper disclosures to the SEC. There is no violation. A CEO is in place. No need for shareholders to demand anything in this regard, yet. You're just getting alittle ahead of yourself....
SGE
HH - And to offset (and reinforce my post to Fred), I sold 51,000 over the past few days. Why? Needed some quick cash. Still have enough to count though. And I may buy 'em back after 30 days (may as well lock a loss while I'm at it).
SGE
I hear most of what you're saying (especially the novels written about much less intriguing occurances! LOL). You are overlooking one thing though, which may be skewing your read of the significance. This is the OTC market, where each buy and each sell are counted separately/independently (unlike the NYSE, where a trade is a trade, a buy and sell combined). Seeing how there was a seeming balance, thereby keeping the PPS rather "static", half the volume was buys, the other half sales. So it wasn't a retail buyer(s) shelling out for ~1.5M shares, but ~750K shares - only around $75 grand. Small spuds.
As I think you've acknowledged, there was apparently a large depth of standing sell orders (at .10, where there were 4-5 MMs lined up on the ask). That's why not much of a move.... Somebody(s) decided to buy a bunch, and a lot of other somebody's standing by ready to sell in quantity.
Why so many standing by to sell? Well, either they've been reading this board (!) or RB (!!!!!), have just given up, just needed some cash, or are doing some "advance" tax loss selling (or were postured to, at .10).
But I KNOW nuttin'!
SGE
Fred - I think you're trying to read way too much into it. Somebody(s) just bought some shares, to the tune of well under $100K. This offset by standing sell orders. No biggie, no trap, just somebody(s) taking the plunge at the shallow end IMO.
SGE
Here's a question that you folks might find compelling: Where's Woody? You know, the Norris Communications Woody. I know, he's bopping around in an AirScooter right now, but would he or should he step in?
Would he? I don't know. Doesn't have to, and he seems to be a guy that just jumps from interest to interest. But he might find the challenge "amusing".
Should he? I don't know again. Is he the guy that could single-handedly turn things around? He does have the Salesman skill (did pretty good on 60 minutes, and Tactical to Practical), and that is a primary complaint about EDIG it seems.
What you guys think? (I've posed this on Agora before, but didn't get too much feedback).
SGE
WSJ - Not trying to be out-n-out disrespectful, but the analogy works both ways. It suggests he had optimism, but then suddenly lost it. He put an end to it, and didn't go to war crimes trials to complain endlessly about the past and blame others for what were, ultimately, HIS DECISIONS. And he was nuts!
SGE
WSJ - You've hit on the basic conflict of attitudes between this board and Agora. While you can't see any possibility of success - apparently - those on "the other side" DO see a possibility. But you mention logic.... To me, it's logical to visit and post on a message board about positive future possibilities - that's what investing is ALL ABOUT (especially in an OTCBB). But I see no logic in posting ad nausium about the past that everyone already knows, nor about a company you aren't - or shouldn't be - invested in (in your opinion). But, hey, it's your time, and here's the forum, enjoy!
And I did get the supposed analogy....but find it highly unlikely that THAT was the source. Assuming he had a presence of mind and that attitude, why would he have done himself in the next day? I was just pointing out the obvious....and trying to offer a little humor ('twas a joke!, coupled with a couple weird observations - I take it you aren't going to name any of your kids "EDIG"! LOL).
SGE
WSJ - Good prediction, in that if things don't turn around within 3-6 months, I'll be long gone (or a gone Long).
And no, I'm not looking for "new friends" (or re-newed friends in some cases - like you), but lurk here occasionally. Sometimes I can't resist the urge to respond to posts that appear to me to be "over the top".
And BTW, the "I KNOW nuttin'" thing is my way of making it clear that I'm not privy to any inside info, particularly in my speculation posts (reinforced my "IMO" and "JMHO" throughout). Right now, I KNOW (IMO) that EDIG still has a decent chance at success. And you're right, if nothing pans out in 3-6 months, I KNOW the risk level will force my departure.
Reassurance? I doubt any message could adequately provide. A big fat order to EDIG, from anywhere, would do. Do you actually think I'd come HERE looking for reassurance that everything is okay?! LOL Too funny!
But I KNOW nuttin'!
SGE
Because you too responded to WSJ's post, part of what is known as a thread - didn't mean to needle you! (and sew what?!) No worries, it'll NEVER happen again.
SGE
WSJ - He was a babbling idiot at that point. Probably got fouled up in translation. He was probably just observing that gee, it's dark, and then it gets real light! LOL
Isn't it weird that (unfortunately) Nazism lives on, but you never, ever, hear of a person named "Hitler" after WWII? When was the last time you met an "Adolf"? (other than with a head on it). And after WWI, how many "Schmits" became "Smiths"?
SGE
Hollywood - While a lot of what you has merit, you are ignoring some of the facts.
Dataplay is an excellent example. Where, in the series of events, did EDIG foul up? Where did DataPlay foul up? IMO, neither did. Unless you consider having an expectation that your customer (in this case big companies, but for the most part slimey studios) would live up to their word. EDIG aside, the guys at DataPlay were NOT babes in the woods. Neither were their investor/partners (e.g., Computer Sciences Corp.). I know a couple of the investors, one a billionaire (but a very pleasant, "normal" person), the other David Crosby (who had a relatively small holding). While it's fairly obvious that the billionaire had great business smarts, don't discount David. After all, after "The Birds", they formed Crosby, Stills and Nash (and then Young) with that name for a sound business reason - name recognition to enable any to (come and) go independent successfully. Business and accounting reasons as well (not bad for a bunch of hippies!). And he kinda had a clue about the workings of the music industry. So who'da thought? In no way can I blame EDIG for anything that didn't pan out with/for DataPlay. EDIG shined.
F-10? I'm covinced EDIG got BS'd. But what would you believe in their shoes? Good working relationship, a contract, and contacts covertly feeding you a line of BS. Would you suspect? While I don't know what indicators may have existed that they could have picked up on, if any; if you were told such-n-such by your contact, would you tend to believe or would you dismiss it as a lie? And F-10 wasn't some two-bit outfit...so one would expect some level of credibility. Hard to blame EDIG for that one - they clearly got screwed, maybe due to ineptitude, being naive, too trusting, or maybe due to a very shadey customer (again, probably all of the above).
I'll stop there - you get my drift. Anyway, those were the "easy" ones!
So I chose to not be so quick to place total blame on EDIG. One exception - Collier. That guy, with strong credentials, almost killed us. Did we all believe his spewings? Most did (myself included). But that "$26M in revenues" comment was a blatant lie. I was one of the few that was not not too disappointed (though concerned) when he didn't show for that ASM. Now he's off wasting someone else's money.
And I KNOW nuttin'! (but my opinions, refected above)
SGE
Fred - Yeah, that's one of my biggest frustrations with EDIG as an investment. I KNOW from personal experience that they engineer good quality feature-rich products. And as many here (and on Agora, and Atomic Bob's) say, the sales effort has not been successful. I agree, but can't really say if it's the market environment that they play in (super competitive, with a lot of "known names" - tough for a little guy to break in...), or ineptness, or both, but things sure haven't panned out as I hoped (well, since mid-'00 anyway!).
And as far as my "positive" posts; while I try and maintain a positive tone and attitude, I am often critical, but most of my posts are along the lines of speculation (and clearly stated as such, usually multiple times) or in an effort to try and figure out what's going on.
Why a positive attitude? Because I own the stock! And because I do believe there are real possibilities. If I didn't believe that, I'd sell, take my lumps, and move on.
That's another thing I don't understand about some posters. Bitch and moan about a stock that they chose to buy and hold, and then continue to hold. If you're that unhappy, say goodbye. Why prolong the agony and angst? Life's too short, and it just plain ain't healthy. I mean, honestly, I'm feeling the pain, the PPS is upsetting to me, I'm in a serious loss position, and I know the pressure does get to me - and I still have a positive attitude! I'd hate to think how I'd be affected (physically/mentally) if I was holding while full of hatred and out-n-out pissed off. Not a pretty picture, and I will bail before I hit that low.
Guess that was my little contribution to humanity for this evening!
Sorry for the novel (on Agora, I'm famous - or is it infamous - for it).
SGE
Good to see ya raggie!
SGE
resqjuc - And your point is? Oh, another focus on THE PAST! Dataplay.... Thanks for pointing out an instance where EDIG's efforts shined, but the customer failed. Yup, must have been all EDIG's fault! Yup, DataPlay put on a big show at CES, David Crosby and all, and the friggin' devices didn't even work till EDIG stepped in.
SGE
BTW, David is doing fine.
Fred - On this I do agree. The Agora script has a positive tone. Does it make you feel good that this board has a negative tone?
SGE
I'm not confused about what bashing is - at all. I'm confused about the "why?". And your explanation doesn't hold a lot of water considering the type of company EDIG is (it's an OTCBB, for crying out loud!). Discussion of past failures ad nausium, most of which IMO are not EDIG's fault (directly), does absolutely no good to anyone - anyone who's done the least bit of DD already knows!
Investing is about looking ahead. You're not going to make any money on what's already happened, so why debate it to death? When was the last time you saw a positive forward looking post on this board? And if there was one, there'd be 15 posts beating the crap out of it based on....the past. While I'm a big believer in the value of history, it doesn't necessarily foretell the future. Especially in the park where EDIG plays.
You acknowledge that a big deal could happen at any time, which would really turn things around. Yet is there any discussion of those possibilities? That would have a better chance of being valuable discussion, IMO.
Think about it. A proven product (the digE), IFE of the year, virtually failure free, very light weight while jet fuel prices are soaring, competition between airlines fierce, IFE the user can actually control.... I could go on and on, but any one who's done some DD should know this stuff too. But the possibilities, the markets, these are more worthy of discussion.
It does amaze me that the subject of the quality of the product, and past EDIG products, is so rarely mentioned (on any board). My O-1000 still works great!
Well, it's been fun "discussing" all this, but I don't expect that we'll change anyone's minds. Positions are pretty fixed....and that's what makes these boards a bit useless. Everybody's just reading their script....
Sorry to bother ya'll....
SGE
Cass - Yup, certainly not a buying frenzy or a mass exodus. Small money.... Pretty much a big yawn no matter what side of the fence you're. Maybe exciting for those on the fence? LOL
SGE
You apparently haven't been keeping up with me on Agora. I've been questioning Wencor's sales ability for quite some time, especially over the last few months. Seven new airline adoptors, eight re-orders from existing customers....how many orders to EDIG? And I've been questioning Wencor's sensibility for at least six months. How aggressive is a company that posts a "Regional Sales Manager" position opening and doesn't fill it for nine months? And then fills it by adding it to the duties of an existing manager? Not what I'd call aggressive.... And I've been saying so for a long time (and I KNOW they had some good candidates, fully qualified per their requesits, apply for the position).
And of course the IMS manuever, not to mention their supposed DD before buying APS. Sales? APS/Boyer did a better job of it. A baggage handler, and not a airline supplier with solid links to 48 airline customers.
SGE
For sure, Wencor stated that sales of EDIG-produced digEs would continue till year end, then unknown. I believe EDIG echoed that statement.
SGE
I don't recall seeing a single prediction of near term higher value based on what we KNOW a week ago or today. On positive news, yes. On where we are, I predict we'll be in the 8-12 cent range until news. Check the depth on level 2. The only wild card I see to the down side is possible year end sales to lock losses to offset gains elsewhere.
Saying a PPS of 50% off where we are is "more accurate" ain't even close using hand grenades or A-bombs! Did anyone predict we'd be at 20 cents based on latest news? That would be the equivalent to the up side.
FWIW,
SGE