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This was just the hearing for the TRO. The arbitration for rescission is still pending. I don't honestly think Cox, or any of the providers was close to a deal. Again, I think the "rumors" (all of the allegations in Leane's filing were hearsay, with the exception of the $5 million due), were put out there by the 13. There is no way they were ready to settle a month after they requested an extension. I think they knew Andrews wasn't going to give them another extension unless something truly extraordinary came up. This was just an opportunity for them to delay even further into the future. The delay, however, does buy us some time to get our ducks in a row.
We're trying to get an inside look. Just trying to figure out if we're gonna take a peek through a locked window first, or just use a battering ram on the front door.
This was not a "snafu." This was fraud.
"None of what he [Carter] is doing is legal." I'm just gonna leave that there. The contract with Bentham definitely needs to be "renegotiated" at the very least, and they need to get the tickere reinstated. Anything short of the above, we may need to scorch some earth ourselves.
Without legal counsel, we see nothing.
I disagree. Who's to say that Carter doesn't go in there and negotiate for a smaller percentage? We have no idea what is going to happen in the arbitration. The panel or judge needs to know that any decisions they have made AFTER delisting in private, and any decisions going forward affect at least a hundred other people holding 35% to 38% of the outstanding shares of UOIP. Perhaps we don't need a representative in the hearing, but we need a voice in that hearing.
She went scorched earth on Carter. I think the "rumors" she refers to in her request for a TRO were seeded by the 13. No way they were ready to settle end of August when a month before they were trying to push the court date back again. Leane fell right into it. I think it was another successful attempt to push the court date back another 8 months.
The Delaware filing shows 6 billion available. What we want to know is the number of oustanding shares -- the shares we own.
Very good questions.
So now we have a public record of the AS at least.
Yeah, I was shocked too. Then we thought that was the value to be assessed, but it looks like the taxes are based on the authorized shares with $200,000 being the cap.
"The minimum tax is currently $175.00, using the Authorized Shares Method and the Minimum Tax using the Assumed Par Value Capital Method is $400.00 with a maximum tax of $200,000.00 for both methods unless it has been identified as a Large Corporate Filer, then their tax will be $250,000.00. Taxes are assessed if the corporation is active in the records of the Division of Corporations anytime during January 1st through December 31st of the current tax year."
Could be one of the directors. Apparently, there was a filing with Delaware. The company has a value -- $200k.
No, really. Look at the date.
We don't know who brought the company current.
Check your email and Facebook. Someone outside our group crossed one of the items on our future to do list off. Don't know who exactly. But UOIP is now current with Delaware SOS.
Or more, if she can get the contract rescinded.
Did you get mine? I posted it and sent you an email - 1,329,646 for me and my son.
The only negotiations going on currently seem to be between Leane and Carter. I read through the filings. There seem to be 500+ million shares that are not represented in those filings.
Zomby, all of the shares in the publicly traded company were sold under UOIP and recorded under UOIP, UnifiedOnline, Inc. There was only one ticker registered with FINRA. We all bought shares in UOIP - Unifiedonline, Inc.
At least they were acknowledged in the contract. Its the remaining 501+ million shares that are not officially recorded anywhere in this litigation. If the arbitration judge/panel is aware that there are 600+ million shares out there, as opposed to 118 million, he/she/they may be a bit more apprehensive about rescinding the contract. Maybe.
Your shares were included in the contract between UOIP and Chanbond then.
Goodbuddy has been holding since IceWeb. His shares were included in the contract. Deirdre and Billy own a billion. Goodbuddy's are part of the 180 million.
That was correct at the time the contract was filed. I believe it was an attachment to the original contract. But we need to have a record just in case Carter didnt keep a record. Again, phantom shares don't show on OTCMarkets. The solution was recorded.
If Leane and Carter own a billion combined, we own just over 38% of the outstanding shares at the time of delisting.
I'm not sure it would cover fraud. The other two members of the board may be covered if they have insurance. They may be considered negligent.
Let's see what Park61's attorney says Wednesday.
I have a feeling the TA will need to be subpoenaed.
Awesome! Thank you!. I don't think the technology is in question at this point, though. Does he have experience in Contract or Securities law?
Why didn't Carter just use some of the $5m borrowed from Bentham to file quarterly financials to keep UOIP a going concern if to collect money on the licensing if that were important? Who will be receiving the licensing fees? Unifiedonline, Inc.? Or Unifiedonline! LLC? Or UO!IP? Or Chanbond? I'm through with the guessing games.
Chanbond.
It's been recorded with the District Court of Texas in a legal filing. That's the only way we could possibly know at this point, or after the fact, since UOIP is now a privately held company.
But then Dierdre's filing also states in paragraph 13 that "Unified" was incorporated by Billy Carter in the State of Delaware, and she lists the address of "UnifiedOnline! LLC," Carter's company, not UnifiedOnline, Inc.
But how will you know, if there are no further disputes between Carter and Leane and the companies all settle out of court? We would never have known about the $50 million offer if it hadn't been for Leane's TRO until it was too late. Should we wait three or four months until those companies that are publicly traded file their Q's and hope Carter and Leane aren't living in the South of France or somewhere else where they can't be extradited? And what about those of the 13 that are privately held? How do we find out how much the settlement was and where it went? There's a reason Carter stopped filing when he took control with his 900m shares in November 2015.
Our shares are not mentioned anywhere in the TRO. Leane has a VERY STRONG case for rescission, and she will likely get it in Texas. Especially given that it looks as those she and carter own 950 million of only 1.18 billion shares.
I don't get the impression Carter is in this to get the company relisted. Every indication, from his creation of UnifiedOnline! LLC in Delaware where he transferred his 903m shares two weeks after the ink was dried on the UOIP/Chanbond deal, to his creation of UO!IP in NC indicates that he has no itention to relist UOIP.
No, our interests are not aligned with Leane's. She is asking that the ISA between UOIP and Chanbond be rescinded, leaving UOIP with nothing. And she has a strong case for rescission, particularly considering the only shares listed in her filing are the initial 1.18 billion. The arbitrator will have no idea we even exist.
Chanbond was just offered $50 million in damages plus licensing fees from one of the thirteen.
They tried to settle with one of the 13 for $50 million. I'm going to presume it was Cox, since the others would owe much less and Comcast about 4 times that much. At Cox's current subscription count, they would owe a minimum of somewhere in the neighborhood of $90 million at Teece's low estimate of 28 cents per box per month.
Billy has cut himself 22.5% BEFORE the CBV (the patent creators) that wasn't in the contract between Leane and Howe, leaving very little for the patent creators and UOIP. He could care less about the share value if he's getting $100 million to $200 million off the top after the attorneys and the toxic lender (whom he has borrowed from to fund a million dollar lifestyle) are paid their 28.5% and 25.5%.
I asked Specialneeds to volunteer to represent the group along with me. He suggested you. I think anyone we hire should have at least two contacts, just in case. Are you up for it?
This is why I'm reluctant to hire an attorney on contingency. Dierdre's complaint specifically states as much -- that Carter has left nothing for the inventors and leaves her with stock that is "worth less than the paper it's printed on." Essentially, Carter has taken the CBV and UOIP portions and divided it up amongst himself and Bentham, but mostly himself. If she get's the contract enforced, and they are aware the rest of us aren't going away with empty bags, I'm not sure we will need further representation.
No. I think the shares were dumped from the AS at UOIP. There were 6 billion in the AS when the contract was signed with Chanbond. How would it be possible to sell shares of a privately held company into a public company? I think Billy diluted UOIP and transferred UOIP funds to UnifiedOnline! LLC. Just a hunch, of course.