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Its also leverage for more dilution thru PP and secondaries. It will happen sooner or later.
Private no way. The company is unprofitable. Salaries are being paid by issuing shares. They will continue to issue shares and that is one reason they want to be listed on the nasdaq. Also the reason why they settled.
Salaries and bonuses paid by issuing shares. They are rich off that model.
Where on the site is that info?
Still no reply from Cliff. Guess he won't acknowledge my email.
Rain,
Unfortunately the company is probably thrilled with the outcome. Maybe they saw a much lower payout.
The only people pumping 100's of millions was the K Porters and others. Not the company.
Makes sense to me.
However, our track record imho is about .000
Please send Emails to Cliff for the company to clarify and send out PR on the settlement!
JJSeabrook,
Care to comment on the 10k? Does it imply royalties or is it clearly stating $21M is all?
I understand you. I agree.
I am sure they will receive another nice bonus for the settlement.
Could be they are being quiet to protect the shareholders. This was BAD news at the current stock price(?)
Are you sure the settlement was too Low? Did the company say that? Or did K Porter and GIO say that?
IMHO the company is celebrating. Thats 2-3 more years of salary, a ticket to more dilution and years of work.
Its also an achievement that they won.. great on a resume.
No response from Cliff. I emailed him. Did you?
I sent my email to Cliff. IPNOOB, this another spherix? Where the board was thinking 100s of millions when indeed these settlements never approach 1/10 of that?
Thanks.
Giovinco, JJSeabroke..
Comments on todays PR? You guys are MIA now?
greenaccountingbeen,
We were suppose to see $300M minimum according the guys here. LYOGI stated $1B. According to them the settlement would put us at $30-50 Post split. We are at $3. This is not a dissappointment. this is Fing JOKE.
BS. This doesn't even cover the cost of the lawsuit and expenses. This is a let down
This is what these guys on HERE and SA were saying. Not the company. Remember who has been speading that info. Certain folks HERE.
LYOGI and Rainmaker assured us this deal would make 100M plus maybe even $1Billion.
I am sure there is more to this
Says License agreement as well. What about the $100's of Millions in the NDA?
On December 7, 2015, Vringo, Inc. and its affiliates (the “Company”) entered into a Confidential Settlement and License Agreement (the “Settlement Agreement”) with ZTE Corporation and its affiliates (“ZTE”), pursuant to which the parties agreed to settle all and any pending litigations and proceedings between the parties relating, among others, to patent infringements and patent invalidity claims. In addition, under the Settlement Agreement, the Company granted ZTE a non-exclusive, non-transferable, worldwide perpetual license of certain patents and patent applications owned by the Company.
ZTE will pay the Company a lump sum of $21.5 million in cash within 15 days following the execution of the Settlement Agreement. ZTE will also responsible for the payment of any withholding, value added or other taxes. Within ten days following receipt of the payment by the Company, the parties will withdraw all the pending litigations and proceedings.
The foregoing description of the Settlement Agreement is only a summary and is qualified in its entirety by reference to the Settlement Agreement. The Company intends to file a copy of the Settlement Agreement as exhibit to its Annual Report on Form 10-K for its fiscal year ending December 31, 2015, portions of which will be subject to a FOIA Confidential Treatment Request which will be submitted to the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. The omitted material will be included in the request for confidential treatment.
$21M I guessed $30M. What about the $500M guys?
HALTED
i just bought 2,000 at 2.95. It was an all or none order. FYI
I don't know. It sure feels like a bottom but it just continues to move down. The only significant reversals have been on PR or Jusin Giles Seeking Alpha articles.
I don't understand it. Who the hell is selling and selling? Its not the company issuing shares is it?
Just took that dump. I am getting a feel for how the interactive brokers and investment houses manipulate the exchanges. Not a suprise to see them wipe out margin holders. sigh
Stock price could get scary. Below $3 the margin req changes. Just and FYI
Whats the unpaid balance?
It was pointed out that the company is "issuing" shares which has the same effect as a seller would. When will the issuing be over?
$50 is certainly possible especially after a 10 - 1 reverse split.
1. Company is issuing stock. More supply of stock than demand. Econ 101.
2. I sold at .35 cents. I feel the company will raise more cash and again, will create oversupply. I think others are waiting as well. JMHO
FWIW 100K shares on the bid
0.3325 x103,900 0.3399 x200
Daily dilution is enough to drive the price down. They don't need to sell.
Well there you have it. Extra shares being sold off everyday. That explains why the price is dropping. Supply and Demand. Plenty of supply and little demand.
The company is selling shares to pay for financing. This is the same effect as someone shorting
Why were we blaming ZTE for shorting when these are not short shares these are issued shares by our own company!
Ugh... and no one caught that. Or maybe some did but chose not to discuss.
Last year the company diluted over 10%. Now that the SP is in the pennies the dilution is more severe hence more shares being dumped. Its a spiral effect? I am not expert but I am glad this was brought to light. There is high probability of more downside. The time to BUY is when the dilutions stops. But how do we know?
Spook..VRNG has been paying via issueing shares and shares only. Its possible they are still issuing them?
From the 10K
During the three months ended June 30, 2015, the Company made principal payments in the aggregate amount of $1,191 The Company elected to make these principal payments in shares of the Company’s common stock, which are issued at a 15% discount to the market price. As such, the Company issued 2,300,000 shares in lieu of principal payments and recorded $210 as extinguishment of debt expense on the consolidated statements of operations. Subsequent to June 30, 2015, the Company made additional principal payments in the aggregate amount of $1,524 and an interest payment of $155 in shares of common stock, the latter of which had been accrued as of June 30, 2015.
Really? Well one thing for sure. ZTE is NOT shorting like GIOV claims. The short interest has not moved.
IMHO the dilution would happen on high volume days (pr days). Makes sense spook.
Settlement Date Short Interest Avg Daily Share Volume Days To Cover
10/15/2015 11,789,573 1,392,044 8.469253
9/30/2015 11,765,229 525,647 22.382376
9/15/2015 11,601,458 379,526 30.568283
8/31/2015 11,731,277 584,645 20.065642
8/14/2015 10,623,951 701,449 15.145721
7/31/2015 10,682,509 857,797 12.453423
7/15/2015 10,657,036 600,345 17.751520
6/30/2015 13,010,967 1,365,944 9.525257
6/15/2015 13,420,177 504,564 26.597571
5/29/2015 13,895,665 491,312 28.282771
5/15/2015 13,331,957 914,980 14.570763
Read more: http://www.nasdaq.com/symbol/vrng/short-interest#ixzz3r0wF4zwR
You continue to say ZTE is shorting but the reported short interest doesn't change. I have a hunch a major holder is selling. Are you one of them?
Maybe not. Maybe something happens and we all get our investments back. Maybe we even get rich.
This is an easy way for Flicharge to get listed on a stock exchange to raise funds. I am expecting dilution to raise money for flicharge and for VRNG to have some cushion for more lawsuits. I think 10 to 20 cents is coming real soon. Think about it, the company can't wait to start looking for more cash till spring and risk bankruptcy. IMHO we should be expecting the company to a PP and hoping too just in case ZTE is not willing to pay us in 2016.
20 X $400M = $80 per share