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.225! RUT RO! Rushing for the exits!
Dump has begun. .23 and dropping fast
PTSC is on 15 day trader sites recommend list so dont try to tell me it aint gonna crash hard. As I said there are only enough longs to support a .05-.08c share price.
PM bloodbath IMO. Expect a sub .20 close
All the day trader sites mention PTSC right now and they are piling in. I would not want to be in this when it carshes after everybody runs for the exist. There are no long shareholders to prop this pump a dump up.
Its gotta pull back at some point.I have not seen a pull back since .09 so I would expect one soon.
5,000 shares
This little pump a dump is going down Get out ASAP no revenue is holding up this house of cards.
No stock goes straight up expect a pull back soon and possibly all the way to .08c. There is no revenue to support the current share price and in fact PTSC is bleeding cash big time.
We should see a "sell the news" price action possibly down to .10-12 pennies.
Also-Sirius hardware sales are negligible and I suspect any license of the MMP would be for only a few hundred thousand if that. PTSC has 409 MILLION shares outstanding. Almost no amount of licensing revenue will float this boat.
Day traders will be selling soon! Dont be the last one out! Daytraders have computer programs that light up when volume is detected in a stock and they scurry over to get in on the price move. That is all this run up has been. There is nothing to keep to keep it from sliding back to .08. Dont try to buy and hold.
PTSC=foolish investment but a good penny pump a dump. Better get out before it rapidly deflates.
Sell the pop! Day & momo traders have pumped up this stock beyond all proportion. Sirrus may have settled but the settlement PACER court document says they did it on the 14th of JULY! 5 days before the US patent office terminated the reexam! This means that PTSC got jack in settlement dollars. If only they had waited a few days. This is another example of management incompetence. Dont worry though another reexam should be filed shortly. It only takes the $5,000 filing fee to tie things up for another 4 months to 1 year.
Pacer- No dollar value is attached to this settlement so we have to assume they simply agreed to dismiss the claims against PTSC with the claims against Sirrus offsetting eachother for zero dollars. PTSC may have even had to pay a settlement TO Sirrus.
A DIRECTOR of PTSC on the board of Agoracom a pump a dump stock site that is a paid promoter. Where to begin. These people belong in jail.
Also-EDIG will have LONG run out of money before there is any final adjudication to this case. HTC and Nokia have very deep pockets and can simply use the strategy of filing multiple requests for reexamination with the US Patent office as there are no limitations on the number that can be filed. They will then ask the court to stay the litigation until the US patent office decides on the reexams. Each request for a reexam costs only 5k to file and takes 3-4 months to decide if it moves forward and when it moves forward it takes another YEAR to decide its merits. If these is a back and forth with the US patent office and the patent holder where they request changes to the wording in the patent in order to re certify it it could take 3-4 years. Even if the patent office decides in EDIGs favor it will take 3-4 years and EDIG will long be out of money. The patents will also have expired at any rate and no license fees can be collected once a patent expires. This "investment" is a STRONG SELL.
EDIGs flash patent covers dictation devices only as that is what the "Flashback" recorder which they used as the exhibit of the embodiment of the patent to the US patent office was meant to be used for. EDIG is attempting to take a patent granted for dictation devices only and broadly apply it to any device that uses flash memory. EDIG can maybe chase after the 1 or 2 companies that make dictation devices and collect a few thousand in licenses. This has zero chance of success for common stock shareholders but that is not the point here. EDIGs lawyers bullied a few companies to pay nuisance value settlements (nuisance value is defined as any settlement of less than $5 million as that is what is costs to defend against patent infringement lawsuits). Only the lawyers and EDIG management make money in this scenario. Why do you think EDIG is so afraid to actually go to court? Samsung almost laid them out but EDIG and their lawyers caved and ran away at the last minute. Nokia and HTC will not be bullied and will fight this for YEARS if that is what it takes. They will pay the 5k filing fee to the US patent office to reexamine the patents until they expire and the issue is moot. I rate this stock a STRONG SELL!
Quinn-EDIG showed their weak case when the ran away from Samsung. Why would EDIG with only a couple of months to wait until a Markman hearing settle with Samsung for peanuts. If EDIGs case was strong wouldn't they have waited and collected the big bucks?
Putnum and EDIG staff are expensive props for the pump a dump operation. How can you like Putnum he has conned you and is laughing all the way to the bank.
Fluff PRs announcing no revenue numbers will not move this stock an inch. I expect another reexam to be filed shortly and the stock will tank.
It is unfortunate that the only "reform" planned for the USPTO is to make it easier for large technology companies to continue to steal inventors IP and name their own price. The tech giants are busy spending millions lobbying congress to buy the legislation that will cripple the entrepreneur. This stock has been a nightmare since mid 2006.
the uspto seem incapable of quick decisions and the system has been gamed by the litigants. the way the reexam system is set up it can happen again as unlimited combinations of prior art are allowed to be used in order to raise SNQs.
Another reexam could easily be filed as one only needs the filing fee in order to submit the request for a reexam to the US patent office. The patent office then meanders along for a few months deciding if the reexam is allowed to proceed as it did in this case. Then the patent office continues to meander along for another year and even if the reexam terminated, as in this case, the infringers have tied up the patents for about a year and a half. There is nothing to stop this from happening until the patents expire in 2015. So even if PTSC board of directors and dont manage to f up a sure thing and even if PTSC can wind up their lawsuit against their lawyers there are ways to tie up a patent forever thanks to lax rules at the US patent office.
I'm just say'in..these guys cant shoot straight and could lost money on a sure thing.
Sadly PTSC just sold their MMP interest in the last few weeks and it will be PRed shortly in my opinion....just a prediction based on past decision making prowess. That is the kind of competence I would expect from the board of directors. If anything good were to happen to PTSC you can expect the company to piss it away.
Very true arkiboy1! EDIGs patents are obvious and never should have been granted. The patent examiners in the 1990s were overly lenient and their protocols for granting patents have since been reigned in by the current powers that be. Many 1990s patents have been reexamined and their true scope or significance substantially downgraded. EDIGs pathetic IFE business which simply repackages other peoples technology and sells it to some tiny third world airlines at way below cost does not even make as much money as your average McDonald s location. The few tiny sales that were actually made were closed by another organization acting as a distributor called Mezzo. So management and the staff at EDIG are essentially useless and simply exist as props. .08c a share is way overvalued. I would say EDIG is more properly valued at .02c a share.
USPTO News: Reexam Terminated
Application Number: 90/009,457 Customer Number: -
Filing or 371 (c) Date: 08-24-2009 Status: Reexam Terminated -- Notice of Intent to Issue a Reexamination Certificate Mailed
Application Type: Re-Examination Status Date: 07-19-2010
Examiner Name: PEIKARI, BEHZAD Location: What is a Location? ELECTRONIC
Group Art Unit: 3992
HTC Nokia et al.will be filing a reexam based on EDIGs patents being obvious with the US patent office imo. "Obviousness" can nullify previously granted patents. Anybody can see that flash memory is merely taking the place of a tape, casette or CD as a storage medium and IN NO WAY DESERVES PATENT PROTECTION. Strong SELL!!!
EDIG has a ZERO percent chance of prevailing. Read the PACER filings. Nokias and HTC lawyers are like men playing rugby against children.
http://www.box.net/shared/bz4d8bjeok/2/37965136/450469130/1#/shared/bz4d8bjeok/1/43373982/466768196/1
OUCH!! EDIG shredded by the defense in the response to EDIGs markman proposal. I have almost never read a more clear cut legal case. EDIGs so called tech was common in the mid 1990s and Nokias and HTCs defense lay it out well. Better read the PACER filings before you buy this POS. ROFLMAO!
http://www.box.net/shared/bz4d8bjeok/2/37965136/450469130/1#/shared/bz4d8bjeok/1/43373982/466768196/1
.076 pennies! What a foolish "investment" ROFLMAO!
Nokia & HTC will NOT be extorted by EDIGs lawyers. They will take a stand against patent trools and shut this scam down. Mark my words. EDIG and Duane Morris will not get another agreed upon silence not to expose them like they did with Samsung. This scam is up and I believe insiders like Jerry Polis have filed their Form 4 notices of sale of EDIG stock. Check it out at nasdaq.com and look under company filings.
WOW! I read the plaintiffs and defendants claim construction and even a 10 year old would conclude that e.digital has NO CASE! EDIG was only granted the '774 patent by the US patent office under extremely narrow limitations on what they could claim as patent protected and it in no way allows them to go after the entire flash memory utilizing market. I can't believe the EDIGs lawyers, Duane Morris, are so stupid that they would waste time on this case especially on contingency. I suspect Duane Morris is using the EDIG case as practice for new associates in their firm. This is a common training and evaluation method at law firms. Possibly their lawyers might extort a small payment rather than EDIG and Duane Morriss victims paying millions for legal defense but thats it. The only reason EDIG is at still at 8c a share is most people have not read these documents cassie has posted in the links in the message preceding this one. Thank you!
even IF PTSC does not go bankrupt due to the US patent office endless multi year reexamination (first on ran from 2006-2009 and the current one could take at least that long and there is nothing to stop another one after that) PTSC will then have to fight a multi year court battle before anybody will buy another license. And this is IF PTSC can settle their LAWSUIT AGAINST THEIR LAWYERS! Yes folks it is hopeless on many levels. I would rate PTSC a STRONG SELL.
IMO Baroni will use his Govt connections to stall the MMP patent reexam with the US patent office until PTSC runs out of money. Then he can pick up the MMP patents and PTSG for a song. That is my prediction. If the MMP or PTSG are worth anything they will find a way to take it from those pesky shareholders.
Easy Cassie- We both agree that EDIG is essentially a scam designed as a way to keep the paychecks coming for management and the stock sales going for insiders. I agree that Samsung had EDIG on the ropes and probably threatened to expose their lawyers weak strategy and tie up EDIGs patents with US patent office reexams. Anybody can file a reexam and one only needs the 5k filing fee to tie up a patent for YEARS. Samsung could have blown the whole EDIG scam which has been running since the 1990s. Nokia and HTC should put EDIG and their patent troll lawyers to rest. I would recommend selling any shares you have because once this scam collapses the stock will not be worth 1 penny.
The key problem with EDIG is their patent claims are simply not supported by the text of the '774 patent (5491774). This is the only patent EDIG is suing the likes of HTC and Nokia for infringing. Cassie-you seem to be going after EDIGs "business" of selling portable devices when I really dont think anybody expects this to lead to the company making enough revenue to increase the share price. IP licensing is their only hope and it does not look good. I simply cannot see any court allowing something as obvious as using flash memory instead of a cassette tape or CD to store information as an "invention". There is not enough of an "inventive step" to warrant patent protection. Back in the 90s the US patent court was giving patents to almost anybody with a good story. The patent office recognized its error and has since stiffened requirements for patent-ability. The result is that a large % of patents granted in the 90s have been reexamined and thrown out based on obviousness (a patent is considered "obvious" if somebody reasonably schooled in the industry the patent was granted could have come up with the device attempting to be patented). I am surprised EDIGs lawyers took the case on contingency given the fact that anybody sitting down for 5 minutes and reviewing the patent claims can see they have no case. Of course we all know that lawsuits cost money to defend and many of EDIGs "settlements" paid "nuisance cost" which is defined as the amount you would have to pay your lawyers to defend against EDIGs bs claims of infringement. I guess EDIGs lawyers figure they can make a few bucks from scared companies. "You pay us $300,000k for a license or we cost you 1 million in attorneys fees to defend yourself". Soon the scam will end because the latest series of defendants have chosen to fight back against the injustice of EDIGs false claims. Nokia and HTC aint gonna be extorted!
Actually all the EVUs, DigEplayers, Treos, Odysseys, Cquence Mobiles and Flashbacks are all loss leaders for the IP licensing business. EDIG can claim they were utilizing the patents in question so IF any infringement is determined their case is stronger. Patent abandonment cannot be argued by the defendants. I think they already made more from IP licensing profits than all their devices combined to date.
Terrible earnings report.Good thing nobody gives a c--p about EDIG anymore or it would be down today. 1hr into trading and only 12,000 shares traded.