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Hearing on Acacia deal has been set up for Sept 24.
A bit about Nokia-Siemens from their website....
We’re one of the world’s largest network communications companies – with 60,000 employees and a leading position in all key markets across the world.
We’re one of the three largest telecom suppliers in the world, with a growing customer base in over 160 countries across five continents. And, with 2006 pro forma revenues of €17.1billion, our business base is strong enough to lead the way successfully into the future.
starts as one of the “Big Three” suppliers that cover approximately 50 per cent of the total market
holds a leading position in key carrier markets (No. 2 in wireless networks; No. 2 in operator services; No. 3 in wireline networks) READ THIS AGAIN!!! NO.2 IN WIRELESS NETWORKS. DO YOU KNOW HOW MANY CARRIERS AND ASNAP LICENSES THAT MEANS?
has a strong customer base with approximately 600 customers worldwide TRANSLATION - 600 CARRIERS
======================
HAVE A WHOLE PAGE DEDICATED TO FMC....
To reduce complexity in your network infrastructures, our end-to-end FMC solutions will provide a clear, flexible evolution path towards converged, access-agnostic networks with service integration and interoperability across domains and devices.
We provide smooth and cost-efficient evolution towards Fixed-Mobile Convergence, including a cost-effective, timely migration to an all-IP network, based on operators’ existing assets.
How FMC can benefit your business
Designed, developed and delivered by expert teams, our proposed FMC solutions can help you to:
Reduce CAPEX and OPEX with common, IP-based transport networks, and centralized OSS and BSS for converged networks
Achieve system synergies with standards-based FMC solutions – we can dissolve the barriers and complexities that separate today’s network islands (PSTN, PLMN, Cable, etc) enabling deployment of the same services across all domains
Retain customers and increase revenues with attractive, easy-to-use services (and service bundles) that are accessible through any access network and the consumer’s preferred device
Stand out from your competitors with unique service offerings such as Quad play services (based on standard service enablers and attractive standard and customized applications created by us and developer/partner programs)
Stay competitive in horizontal markets by managing the service life cycle efficiently from creation to closing
This is the section that says Acacia only gets the infringers and Calypso retains the licensing rights to everybody else. It's called a Grant Back and is common in license agreements.
Section 2.1 says acacia grants back to clyw the rights to license the patent to 3rd parties as a course of it's "business".
Section 2.2 says the grant back does not enable calypso to go after infringers, that is reserved for acacia to do and split with calypso 50/50.
2.1. Grant Back License. Subject to (i) the provisions of this Section; (ii) the Satisfactory Completion, as determined by APAC in its sole and absolute discretion, of the Investigation Period and (iii) Licensor marking each of its products in a conspicuous manner so as to identify each of the applicable Patents embodied in such products (e.g., U.S. Patent No. 6680923), APAC hereby grants to Assignor a limited, non-exclusive, non-transferable, royalty-free, personal right
and license under the Patents to make, use, offer or sell products or services solely as required by Assignor to conduct Assignor's Business as defined below (the "License"). The License shall commence as of the Effective Date and terminate
in accordance with the provisions of this Agreement. For purposes of this Section, "Assignor's Business" shall mean only those products and services offered for sale or sold by Assignor as of the Effective Date (the "Products"), including improvements, modifications or extensions of such Products developed solely by Assignor and offered for sale or sold by Assignor thereafter, provided, however, that "Assignor's Business" shall exclude, and the License shall not
apply to or otherwise cover, any and all products or services, including without limitation any and all improvements, modifications, and extensions thereof, that are developed, supplied, provided or acquired, in whole or in part, by or from any third parties.
2.2. Limitation to Grant Back. Other than as expressly set forth in Section 2.1 above, Licensor expressly retains no rights in or to the Patents, including without limitation no rights to sue for and collect past, present and future damages and to
seek and obtain injunctive or any other relief for infringement of the Patents, and no other rights or licenses under the Patents are granted or implied.
dhwco - my remarks are in CAPS
IMO ANY deal (except the Nokia and Helios deals) will go through Acacia who will deduct its outside costs and split the remaining "profits" 50/50 with clyw. THE CARRIERS BEHIND NOKIA-SIEMENS ARE EXCLUDED FROM THIS DEAL BY VIRTUE OF HOW THE NOKIA-SIEMENS DEAL WORKS. ALL LICENSES TO THESE CARRIERS WILL COME THROUGH THE NOKIA-SIEMENS DEAL AND ARE THEREBY EXCLUDED.
If Motorola approached CLYW to do a $10MM deal or more after this agreement was signed, Clyw would have to "give" half of the money to Acacia and receive nothing in return, having exceeded the minimum guarantees offered by Acacia. Any subsequent volunatry deal would accrue 50% to Acacia again for nothing in return. THAT WOULD BE AGAINST THE SPIRIT OF THE ACACIA AGREEMENT. THE SPIRIT OF THE ACACIA DEAL IS THAT ACACIA WORKS FOR THEIR 50%. IF MOTOROLA COMES DIRECTLY TO CLYW, THEN ACACIA DID NOTHING TO EARN A 50% CUT. YOU SAY IT YOUR SELF BELOW:
While there is language that would imply that Acacia will only do deals as a result of infringement (article 6.1 "APAC (Acacia)will attempt to negotiate licenses with companies that APAC believes may be infringing on the patents."), ONLY IT'S NOT "IMPLYING".
The other side of the equation deals with the infringers. Acacia would take the infringers to task and take 50% of the net recovery leaving 50% to clyw. I'm sure this is the intent and focus of the agreement. THIS IS THE AGREEMENT, NOT JUST THE INTENT
CLYW will be greatly improved as a result of this agreement and I see the stock appreciating as a result. However, I haven't been long on clyw for years to make a 10% return. I want to make a killing. If I am correct in my conclusions, I have to say that I am disappointed that CLYW is signing away half of the farm. I don't agree it is ok simply because it may be "such a big farm" the remaining half would still be "big". ONE MORE TIME, NOT SIGNING AWAY HALF THE FARM. CLYW DOES NOT HAVE THE TIME NOR RESOURCES TO GO AFTER INFRINGERS SO IN REALITY WITHOUT THE ACACIA DEAL THEY WOULD SEE EXACTLY ZERO REVS FROM INFRINGERS. THIS DEAL ALLOWS THEM TO CAPTURE THOSE REVS WHILE STAYING FOCUSED ON THE BUSINESS.
Exerpts from Acacia license. "IN NEGOTIATIONS WITH NOKIA-SIEMENS..."
EXCLUSIVE LICENSE AGREEMENT
This Exclusive License Agreement ("Agreement") is entered into by and between Calypso Wireless, Inc. ("Licensor"), a Delaware corporation having a principal place of business at 2500 NW 79th Avenue Suite 220, Miami, Florida 33122, and ACACIA PATENT ACQUISITION CORPORATION ("APAC"), a Delaware corporation having a principal place of business at 500 Newport Center Drive, Suite 700, Newport Beach, CA 92660 (collectively referred to herein as the "Parties" and individually as "Party"). The effective date of this Agreement shall be the date on which the last Party executes this Agreement below (the "Effective Date").
BACKGROUND
Whereas, Licensor is the sole and exclusive owner of U.S. Patent No(s). 6680923 and all related patent applications, corresponding foreign patents and foreign patent applications, and all continuations, continuations in part, divisions, extensions, renewals, reissues and re-examinations relating to all inventions thereof, which are collectively referred to as the "Patents" (the "Patents") attached hereto as Exhibit A; and
Whereas, Licensor entered into negotiations with Nokia-Siemens Networks, Inc. and Helio, Inc. prior to the Effective Date (the "Existing Agreements"); and
Whereas, Licensor is willing to grant worldwide exclusive license rights in the Patents to APAC, subject to the Existing Agreements, and APAC in turn, desires to license all substantial rights in and to the Patents.
NOW, THEREFORE, in consideration of the promises and mutual covenants contained herein and for other good and valuable consideration, Licensor and APAC agree as follows:
3.1. Royalty Payment, in consideration of the rights assigned to APAC hereunder and upon written notice of Satisfactory Completion (the "Satisfactory Completion Date"), as determined by APAC in its sole and absolute discretion, of the Investigation Period, APAC shall pay Licensor (i) a one-time payment of Five Hundred Thousand ($500,000) U.S. Dollars ("Initial Payment"), that will be due and payable within seven (7) days of Satisfactory Completion
(Acacia gets 60 days of DD before paying the $500k, but word is they've already completed it)
Royalty Payment. APAC shall pay Licensor a continuing royalty equal to fifty percent (50%) of the Net Proceeds
3.3. Minimum Payment. With respect to the anniversary dates listed below as calculated from the Satisfactory Completion Date, APAC will pay Licensor, within thirty (30) days from each of such anniversary dates (the "Payment Period"), the greater of (i) the amount of Net Proceeds calculated to be due Licensor under Section 3, or (ii) the applicable minimum payment indicated below (the "Minimum Payment").
Anniversary Date Minimum Payment
6 month $500,000
12 month $500,000
18 month $500,000
24 month $3,000,000
What BS Biscuit. Helios is owned by Earthlink and SK Telecom and has a huge backing.
Helio is a joint venture between SK Telecom (NYSE: SKM), Korea's leading mobile communications company, and EarthLink (NASDAQ: ELNK), the nation's next generation Internet service provider. The company is capitalized with $440 million of partner investments.
That may be but in this case the clerk told me the judge could in fact be asked to read the depositions given by calypso's witnesses and that "She's got a lot of power".
go to edoc system for harris county courts, sign up and you can buy downloads of all filings made. case number 200722571
https://e-docs.hcdistrictclerk.com/eDocs.Web/Login.aspx
They are working directly with Calypso, they are excluded from the Acacia license.
I think the elephant in the room here is that we have in writing now that Calypso is in NEGOTIATIONS with Nokia-Siemens (and with Helio).
Helio is a nationwide carrier:
We're the most advanced mobile service in the U.S., helping you stay connected like never before through exclusive, high-end, beautiful devices, innovative market-first services and smart pricing all running on the nation's largest high-speed 3G network.
We're some folks who got fed up with the existing carriers, their one-size fits-all philosophy, generic devices and disappointing service. We wanted more from our wireless experience. Since there wasn't already a mobile company out there for people like us, we created one of our own.
Thus, Helio was born.
http://www.helio.com/page?p=whatis&
I've been told by the court clerk that the order granting calypso authority to do the license with Acacia has in fact not been signed yet by the judge. It has been filed by Calypso's lawyers and will be reviewed by the judge.
Well we know what the deal looks like now and that calypso is in fact in negotiations with Nokia-Siemens and Helio.
LOOK FOR A PR FROM ACACIA - IT'S A PUBLIC COMPANY. THE NEWS WILL GET OUT AND SO WILL THE NEGOTIATIONS WITH NOKIA-SIEMENS.
JEEZ - NO! ACACIA GOES AFTER INFRINGERS AND THERE ARE CRAP LOAD - LOOK AT ALL THE FMC PR'S OUT THERE. THEY GET RECOVERIES FROM THOSE INFRINGERS IN THE FORM OF TAKING LICENSES OF ASNAP. THE LICENSE FEES ARE SPLIT 50/50. CALYPSO DOES NOT HAVE THE TIME OR EXPERTISE TO GO AFTER INFRINGERS.
CALYPSO CARVED OUT THE NOKIA-SIEMENS DEAL BECAUSE THAT DEAL ALL BY ITSELF GETS THEM 80% OF THE WORLD'S CARRIERS. SO THEY KEEP THAT 80% ALL TO THEMSELVES WHILE ACACIA GOES AFTER THE REST AND CALYPSO GETS 50% OF THAT.
NOTICE THERE IS NO CONDITION IN THE LICENSE AGREEMENT THAT SPECIFIES IT IS CONTINGENT UPON THE DAIC CASE. THAT MEANS DAIC IS DONE. I WONDER IF SHE HAS ALREADY OVERTURNED THE ORIGINAL AWARD AFTER READING THE DEPOSITIONS.
I have the actual licensing agreement now:
SAYS CALYPSO IS NEGOTIATING WITH NOKIA-SIEMENS AND HELIO!!!!!!
I TOLD YOU!!! WE HAVE PASSED THE FIELD TRIALS WITH NOKIA-SIEMENS AND ARE NOW NEGOTIATING LICENSE WITH NOKIA-SIEMENS AND NOKIA-SIEMENS WILL IN TURN TAKE ASNAP TO ALL THEIR CARRIERS!!!
THESE TWO DEALS WILL BE HELD OUT FROM THE ACACIA LICENSE. THAT IS BECAUSE THE NOKIA-SIEMENS DEAL WILL BE ABSOLUTELY HUGE. NOKIA-SIEMENS HAS 80% OF THE WORLD'S CARRIERS.
"Whereas licensor entered into negotiations with Nokia-Siemens Networks Inc and Helio Inc....."
ACACIA SO CONFIDENT THAT THEY HAVE AGREED TO PAY CALYPSO GUARANTEED MINIMUM PAYMENTS - ~5MM OVER 2 YEARS. THE BASE DEAL IS THAT CALYPSO GETS 50% OF ALL RECOVERIES!!!
Acacia announces hiring of wireless expert today...
Acacia Technologies Expands Engineering Team
Wednesday September 12, 6:00 am ET
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Acacia Research Corporation (Nasdaq:ACTG - News) announced today that its Acacia Technologies group, a leader in technology licensing, has named Marcel Mahdavi as Vice President, Engineering.
ADVERTISEMENT
"Mr. Mahdavi is a great addition to our engineering team. His industry experience in wireless communications will be extremely valuable as we continue to expand our leadership position in technology licensing," commented Acacia Chairman and CEO, Paul Ryan.
Mr. Mahdavi was previously Managing Partner of mComm Solutions, which provided mobile wireless solutions and consulting services for companies including Mobile ESPN.
Previously he was Director of Core Network Technology with Sprint Nextel Corporation, Senior Manager of Network Engineering and Technology Services with LCC International, Inc., Group Technology Manager with Cingular Wireless, and Principal Member of Technical Staff at AT&T Inc.
Mr. Mahdavi holds a B.S. Electrical Engineering from the University of Southern California, a M.S. Electrical Engineering from the University of Michigan, and a Ph.D. Electrical Engineering from the University of Southern California.
ABOUT ACACIA RESEARCH CORPORATION
The Acacia Technologies group develops, acquires, and licenses patented technologies. Acacia controls 77 patent portfolios covering technologies used in a wide variety of industries including audio/video enhancement & synchronization, broadcast data retrieval, computer memory cache coherency, credit card fraud protection, database management, data encryption & product activation, digital media transmission (DMT®), digital video production, dynamic manufacturing modeling, enhanced Internet navigation, image resolution enhancement, interactive data sharing, interactive television, laptop docking station connectivity, microprocessor enhancement, multi-dimensional bar codes, resource scheduling, spreadsheet automation, and user activated Internet advertising.
Acacia's website
http://www.acaciatechnologies.com/
Notice all the big names they represent. They will also help us reach licensing deals along with going after infringers.
JUDGE APPROVES LICENSE!!!!!!!!!!!!!!!
IT IS ORDER THAT CALYPSO WIRELESS IS HEREBY AUTHORIZED TO ENTER INTO...LICENSING AGREEMENT WITH ACACIA PATENT COMPANY...CALYPSO WILL RECEIVE $500,000 INITIAL PAYMENT....
We will use Acacia to go after patent infringers. It's been in the works a while, finally out!
Have heard that the depositions went well for Calypso. eom
Thanks, straight from the Bill of Review. Daic's lawyers have to be crapping their pants knowing they have zero shot at ever getting paid unless they try to settle out of court.
Tomorrow is the beginning of the end for Daic and his BS....
"On February 14,2007, Davila resigned as President and CEO....Those positions were offered to Turrini...Turrini acceptted and began serving as President and CEO on March 1, 2007." (So in only 5 months, he's gotten all the financials completed, he's secured a field trial with Nokia-Siemens, he's close to doing his 1st license and will receieve $5MM up front, he's secured a Bill of Review to overturn the BS Daic judgement, he's secured evidence that will do so, he on his own accord held a open SHM to answer questions and demonstrate ASNAP...)
"One of Turrini's immediate concerns was the xtraordinary judgement rendered in this lawsuit. Turrini therefore began investigating the circumstances under which such a large judgement could have been tendered without any defense being raised...Turrini learned that Mendoza had been pressured by Davila not to appear and give his deposition (happening tomorrow now)...Davila had repeatedly told Mendoza that Daic and his attorneys would have Mendoza arrested if he came to Houston.
"...After learning this from Mendoza, Turrini and Menoza confronted Davila. On March 11, 2007, Davia admitted to Mendoza anf Turrini that he had been in discussions with Daic for many months. Utilizing both bribes and threats, Daic had made every effort to enroll Davila in a scheme to obtain a judgement through fraud on this Court...Davila said that Daic sent representatives to see him in Nicaragua and that those representatives threatened him and his family with physical harm if he did not coorperate with Daic's scheme."
"Turrini has be able to confirm that reprsentatives of Daic did indeed meet with Davila...attended by several witnesses including a Minagua attorney...the attorney has given a sworn statement and has testified that Davila was indeed threatened"
"In the course of the Daic Lawsuit, Daci noticed the depositions of Mendoza and Davila (knowing full well they would not appear). However Mendoza and Davila failed to appear (wonder why?) and Daic moved for sanctions..the Court imposed sanctions including an order prohibiting Mendoza and Davila from testifying at trial (ran out of time to appear). By oder dated October 19, 2006, the Court imposed further sanctions including and order prohibiting Calypso...from contesting or questioning the key issues in dispute..The sanctions made it impossible for Calypso to defend itself..Calypso had no representative or defense when the summary judgement was issued"
Sorry for the typo's. eom.
More from Bill of Review:
"On February 14,2007, Davila resigned as President and CEO....Those positions were offered to Turrini...Turrini acceptted and began serving as President and CEO on March 1, 2007." (So in only 5 months, he's gotten all the financials completed, he's secured a field trial with Nokia-Siemens, he's close to doing his 1st license and will receieve $5MM up front, he's secured a Bill of Review to overturn the BS Daic judgement, he's secured evidence that will do so, he on his own accord held a open SHM to answer questions and demonstrate ASNAP...)
"One of Turrini's immediate concerns was the xtraordinary judgement rendered in this lawsuit. Turrini therefore began investigating the circumstances under which such a large judgement could have been tendered without any defense being raised...Turrini learned that Mendoza had been pressured by Davila not to appear and give his deposition (happening tomorrow now)...Davila had repeatedly told Mendoza that Daic and his attorneys would have Mendoza arrested if he came to Houston.
"...After learning this from Mendoza, Turrini and Menoza confronted Davila. On March 11, 2007, Davia admitted to Mendoza anf Turrini that he had been in discussions with Daic for many months. Utilizing both bribes and threats, Daic had made every effort to enroll Davila in a scheme to obtain a judgement through fraud on this Court...Davila said that Daic sent representatives to see him in Nicaragua and that those representatives threatened him and his family with physical harm if he did not coorperate with Daic's scheme."
"Turrini has be able to confirm that reprsentatives of Daic did indeed meet with Davila...attended by several witnesses including a Minagua attorney...the attorney has given a sworn statement and has testified that Davila was indeed threatened"
"In the course of the Daic Lawsuit, Daci noticed the depositions of Mendoza and Davila (knowing full well they would not appear). However Mendoza and Davila failed to appear (wonder why?) and Daic moved for sanctions..the Court imposed sanctions including an order prohibiting Mendoza and Davila from testifying at trial (ran out of time to appear). By oder dated October 19, 2006, the Court imposed further sanctions including and order prohibiting Calypso...from contesting or questioning the key issues in dispute..The sanctions made it impossible for Calypso to defend itself..Calypso had no representative or defense when the summary judgement was issued"
YOU STILL THINK DAIC HAS A SHOT IN HECK AT KEEPING THE JUDGEMENT? IF IT GETS TO A JURY IN NOV, HE'S GOING TO JAIL SOON AFTER.
No that is new. I informed them of the financials being current last week.
Daic is cooked. Depositions are tomorrow. Read this from the Bill of Review:
You should read this again from the Bill of Review...for all those who actually maintain he has a shot in heck of keeping the judgement. And also note that Calypso is going after punitive damages against him.
Read this from the order granting the Bill of Review:
April 11 2007
"Turrini has been able to confirm that representatives of Daic did indeed meet with Davila in Managua, Nicaragua during the course of the original Daic lawsuit. At least one such meeting was attended by several witnesses including a Managua attorney. In a sworn statement given at Turrini's request, the attorney has testified that Davila was indeed threatened - he was told that his life and the lives of his family would not be safe if he did not do as Diac directed and insure that no defense was made by Calypso in this lawsuit".
---The attorney is coming to give deposition this week. You still think Daic has a shot in hell at keeping this bogus judgement? And Turrini has even more evidence now than he did back in April when the Bill of Review was granted.
Also from the petition for the Bill or Review:
"Calypso did not agree to transfer any shares of stock to Daic, much less the millions claimed by Daic..."
"Even if some stock agreement had been signed by Mendoza, such an agreement would plainly be beyond his authority..."
"The value of Daic's services is minimal at best...."
"The fraudulent scheme between Daic and Davila prevented Calypso from presenting these or any other issues..."
Sorry talkoption, have to put you on ignore like LG, JW, Billcon.
You should read this again from the Bill of Review...for all those who actually maintain he has a shot in heck of keeping the judgement. And also note that Calypso is going after punitive damages against him.
Read this from the order granting the Bill of Review:
April 11 2007
"Turrini has been able to confirm that representatives of Daic did indeed meet with Davila in Managua, Nicaragua during the course of the original Daic lawsuit. At least one such meeting was attended by several witnesses including a Managua attorney. In a sworn statement given at Turrini's request, the attorney has testified that Davila was indeed threatened - he was told that his life and the lives of his family would not be safe if he did not do as Diac directed and insure that no defense was made by Calypso in this lawsuit".
---The attorney is coming to give deposition this week. You still think Daic has a shot in hell at keeping this bogus judgement? And Turrini has even more evidence now than he did back in April when the Bill of Review was granted.
Also from the petition for the Bill or Review:
"Calypso did not agree to transfer any shares of stock to Daic, much less the millions claimed by Daic..."
"Even if some stock agreement had been signed by Mendoza, such an agreement would plainly be beyond his authority..."
"The value of Daic's services is minimal at best...."
"The fraudulent scheme between Daic and Davila prevented Calypso from presenting these or any other issues..."
Nuff said
Wow. What a bunch of BS regarding the Baxter patents. It's a stock deal and Turrini has already said that the deal won't close and they won't issue stock until they get rid of the Daic case. So of course it's not showing up yet! Where have you been? Lurking?
And by the way, Calypso is asking for exemplary (also called punitive) damages against Daic, so he will not only lose the judgement but will be paying damages to Calypso...
"Calypso Wireless is entitled to recover all damages caused by Daci's fraud, including the $200,000 wrongly paid to him, together with interest and exemplary damages"
Read this on punitive damages...
Because they usually compensate the plaintiff in excess of the plaintiff's provable injuries, punitive damages are awarded only in special cases, usually under tort law, where the defendant's conduct was egregiously invidious.
"in excess" of the provavble injuries". Think of the damages they can claim against Daic - market cap damages, harder to raise capital, licensing opportunities - they could be huge. And Daic is supposedly a rich real estate mogul who has a lot to lose.
I'd say this fraud and physical threats scheme of Daic's was egregiously invidious.
Read this from the order granting the Bill of Review:
April 11 2007
"Turrini has been able to confirm that representatives of Daic did indeed meet with Davila in Managua, Nicaragua during the course of the original Daic lawsuit. At least one such meeting was attended by several witnesses including a Managua attorney. In a sworn statement given at Turrini's request, the attorney has testified that Davila was indeed threatened - he was told that his life and the lives of his family would not be safe if he did not do as Diac directed and insure that no defense was made by Calypso in this lawsuit".
---The attorney is coming to give deposition this week. You still think Daic has a shot in hell at keeping this bogus judgement? And Turrini has even more evidence now than he did back in April when the Bill of Review was granted.
Also from the petition for the Bill or Review:
"Calypso did not agree to transfer any shares of stock to Daic, much less the millions claimed by Daic..."
"Even if some stock agreement had been signed by Mendoza, such an agreement would plainly be beyond his authority..."
"The value of Daic's services is minimal at best...."
"The fraudulent scheme between Daic and Davila prevented Calypso from presenting these or any other issues..."
Nuff said
No! You are wrong on the reason for the Bill of Review. It is in fact the jury trial they never got to have. It will NOT be followed by any other trials. It will decide whether or not the original award will be thrown out. If it is thrown out, and it will be, that's the end of the story.
Less than 30 days and much bigger than just licensing. IMO of course.
Sharma is working with Calypso, but just not officially an employee yet. I'd expect to see an announcement to that effect sometime this month. They were rasing funds in order to bring him back. He was at the SHM and spoke about ASNAP.
Turrni secured evidence and testimony that Daic hired thugs to visit Mendoza in S America and threaten him into not coming to the states to tesitfy. Turrini presented this evidence to Judge Baker and that's when she immediately granted the Bill of Review. Since that time, Turrini has gotten even more evidence of this, much of it in writing and sworn affadavits. Won't say any more.
If it ever gets to trial, the Bill of Review will be won by Calypso and the judgement rendered to Daic will be overturned.
Yes, Daic's lawyers are on contingency. In the original judgement awarded to Daic, their portion was ~ $32MM out of the the $119MM. I had to read it three times to believe it.
Field trial with Nokia-Siemens which has 70% of the world's carriers and will put ASNAP in every one?
Current on all financials now?
Now you have to join lg and billcon on ignore.
In the court papers.
I do know settlement talks are going on. Understand they are getting more urgent on Daic's side now that the judge put a stop to the BS delays in taking depositions. Once Daic's lawyers hear those depositions they will hammer Daic to settle for anything he can get. Do you think his lawyers want this to go to trial? They took it on contingency (which should tell you something). They know it's a lost cause so they also know they will not get paid if they go to trial. Their best bet now is to get any settlement so they get paid at least something.
Remember, Daic's original contention was that he was granted roughly 15 million shares of stock by Mendoza. That in itself was ludicrous. I've read the files. There are no contracts to that effect. He made it up. Mendoza didn't even have the authority to grant that many shares. The only reason the judgement was rendered in the first place was that Davila and Mendoza did not get their day in court and the judge literally had no choice. Any jury would throw it out immediately. Combine that with the evidence and testimony Calypso has that Daic threatened Calypso into not showing up. You think Daci's lawyers want that to come out too? How would that make them look?
Wrong big time. Daic is looking at criminal charges. Calypso has at least 4 individuals who will testify that he threatened the lives of Mendoza, Davila and others. If this actually goes to trial, that will all come out. Not only will he lose the Bill of Review, Calypso will then pursue criminal charges against Daic. Turrini told me that himself. And even besides that, Daic knows he is going to lose so of course he would want to settle for anything he could get. Depositions will be taken next week and I expect he will settle before that happens.
And don't forget the license they are negotiating right now which will pay them $5MM up front. last time I checked, $5MM is a lot more than $200k
Unbelievable. Why do I have to educate everybody on this board? They have not sold the patent. ok, the $200k was a private placement. The instrument used was convertable loans. It's a very common instrument. The private individuals loaned the company money on a 1 year 10% loan. To give the investors something tangible as collateral, the company used the patent. It makes some of the investors feel more comfortable.
First of all, most of these individuals have already converted their loans into shares. They did that because (1) it's 5c/share (some were 10c) and (2) the stock is restricted meaning they have to wait 1 year until they could sell. The clock starts ticking the minute they convert so they want to convert quickly. Believe me I know.
Second, the company has 1 year to pay back any of the loans that are actually still in place by that date. Field trials with Nokia-Siemens and another large GSM? Even if it all went south, do you really think the company would not to pay back even all $200k and risk the patent? Turrini himself could take out a loan if he had to. Get a grip people.