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Don't need an "official" PR. Word will spread and we will climb.
CLYW announces first FMC license and a field trial with Nokia. 20c/share and low float.
Calypso Wireless, Inc. News Update.
Calypso Wirelss, Inc. has started a trial with Nokia Siemens Networks USA, LLC. in Boca Raton, Florida.
Nokia Siemens Networks is performing a limited set of interoperability tests of Calypso’s technology and has configured accounts in their IMS system for this end. After successful completion, Nokia Siemens Networks will take Calypso’s ASNAP technology to its product marketing team and customers. Calypso is also finalizing details of its first licensing agreement with a leader in technology licensing willing to advance Calypso five million US dollars.
From I-Hub.............
NOKIA & MORE...
Things are breaking as I told you they would, just took longer than everyone thought. Guess we now know what 2 deals went to the judge. Now we know one of the "nine figure" players and it's a doozy. On Nokia, understand they wanted to be sure the software worked on Nokia's systems before releasing the news so waited a bit for that. Also understand not a general release PR due to some logistics but should probably see this get backed by general PR soon.
Believe strongly this was the "joint PR" Turrini mentioned a while back, so I'd expect Nokia to announce it sometime as well . Guessing it takes a little longer to work through Nokia's chain of command to issue a PR.
Also, once Nokia signs off on the tech, they will take it to their carriers - from the PR:
"After successful completion, Nokia Siemens Networks will take Calypso’s ASNAP technology to its product marketing team and customers."
At that point, it will be an accepted tech and the big licenses will come in quickly. I asked a while back in general how long field trials lasted and was told a couple of months, unless of course the customer says we're done earlier. I expect things to move quickly from here.
In addition, Nokia is the gateway to all the carriers. Some you might want to keep in mind - these were all mentioned by Turrini in the SHM:
Nokia - looks like getting done
Bridgeport
TMobile - infringing
Cisco
RIM
Alcatel
Lucent
Avaya
Motorola
Microsoft
Cingular
Sprint (Embark)
My guess is they are already working with some of these as well.
On the licensing agreement, it's a big deal that CLYW gets $5MM up front. That just doesn't happen much in "pay as you go" licenses. It's a very good sign and also gets CLYW enough working capital to finish tying up the company. Remember, they have basically been running on $200-$300k private money up to now. Would expect Sharma to come back now that it looks like they have long term funding.
All IMO of course.
Everything I said has happened. The two deals mentioned by Turrini at the SHM have been announced - "1st license being finalized. Trial with Nokia underway."
Now you can bet that talks are on-going with several others, Sharma will be official soon now that they have cash, back financials almost complete through 1Q after which we file for OTCBB and settlement talks underway now that CLYW has the goods against Daic.
Trust me, it's a good bet.
All IMO of course.
You can wait but you will pay more. The field trial agreements specify that the customer has to agree to any news release. That means Nokia has already agreed. Bottom line, it's the real deal and so is the 1st license. We are on our way.
NOKIA & MORE...
Things are breaking as I told you they would, just took longer than everyone thought. Guess we now know what 2 deals went to the judge. Now we know one of the "nine figure" players and it's a doozy. On Nokia, understand they wanted to be sure the software worked on Nokia's systems before releasing the news so waited a bit for that. Also understand not a general release PR due to some logistics but should probably see this get backed by general PR soon.
Believe strongly this was the "joint PR" Turrini mentioned a while back, so I'd expect Nokia to announce it sometime as well . Guessing it takes a little longer to work through Nokia's chain of command to issue a PR.
Also, once Nokia signs off on the tech, they will take it to their carriers - from the PR:
"After successful completion, Nokia Siemens Networks will take Calypso’s ASNAP technology to its product marketing team and customers."
At that point, it will be an accepted tech and the big licenses will come in quickly. I asked a while back in general how long field trials lasted and was told a couple of months, unless of course the customer says we're done earlier. I expect things to move quickly from here.
In addition, Nokia is the gateway to all the carriers. Some you might want to keep in mind - these were all mentioned by Turrini in the SHM:
Nokia - looks like getting done
Bridgeport
TMobile - infringing
Cisco
RIM
Alcatel
Lucent
Avaya
Motorola
Microsoft
Cingular
Sprint (Embark)
My guess is they are already working with some of these as well.
On the licensing agreement, it's a big deal that CLYW gets $5MM up front. That just doesn't happen much in "pay as you go" licenses. It's a very good sign and also gets CLYW enough working capital to finish tying up the company. Remember, they have basically been running on $200-$300k private money up to now. Would expect Sharma to come back now that it looks like they have long term funding.
All IMO of course.
Sad thing is how ridiculous the original suit was in the first place. Zero hard facts or contracts to back up Daic's claims. Would have been thrown out if CLYW even showed up but Daic's thugs threatened them out of it. Now he's trying to stall any way he can but the jigs up. Judge was very forceful about getting depositions done - "given the background in the case, we'll do them via video conference if we have to".
Spoke to the court last week. They were all set up to take depositions against Daic but then Daic's lawyer filed a vacation request the day before. Court cleark said it's a common stall tactic. Rumor is Daic's trying to settle now.
- EX B - 2007 ATTORNEY VACATION SCHEDULE REQUEST 7/9/2007
Friend sent me this list of Bankruptcy and Civil cases over the years involving Daic. Most all of which he was defendant.
Bankruptcy:
DAIC INDIVIDUALLY, DRAGO txsbke 97-04751 11/03/1997 AP
DAIC, DRAGO txsbke 01-22772 08/21/2001 7
Civil:
21 DAIC, DRAGO txsdce 4:1993cv00044 01/07/1993 140 09/28/1993
22 DAIC, DRAGO txsdce 4:1986cv00440 10/23/1991 190 12/31/1991
23 DAIC, DRAGO txndce 3:1994cv01109 06/02/1994 150 07/13/1994
24 DAIC, DRAGO txsdce 4:2001cv01425 05/02/2001 290 07/31/2001
25 DAIC, DRAGO txsdce 4:1992cv03990 12/24/1992 190 12/07/1993
26 DAIC, DRAGO txsdce 4:1992cv03991 12/24/1992 190 09/15/1993
27 DAIC, DRAGO txsdce 4:1992cv03992 12/24/1992 190 09/15/1993
28 DAIC, DRAGO txsdce 4:1992cv03993 12/24/1992 190 08/24/1993
In the 4:2001 Civil case, Drago in the form of his company DDI was being sued for fraud and breach of contract (real estate). In the end, it went to arbitration and he lost and was ordered to pay $1.8MM in damages. Here's a brief summary from a law review.
In the arbitration, Nauru claimed DDI fraudulently induced Nauru to enter into the transaction and to continue development with various cost overruns. In addition, Nauru claimed that DDI materially breached the Development Agreement and sought indemnification from DDI for any liability on the contingent, non-recourse Promissory Note to Daic Trustee and M-666.
Finally, the panel decided that DDI was liable to Nauru for over $1.8 million as a result of DDI's material breaches of the Development Agreement. Nauru then filed an action in district court to confirm the arbitration award. DDI moved to dismiss for lack of jurisdiction and also moved to vacate or modify the award. The district court denied the motion to dismiss and referred the matter to a magistrate judge, who recommended that the award be confirmed. In 1997, the district court accepted the magistrate judge's findings and recommendations and confirmed the arbitration award.
Right after that, we see that Drago files for Bankruptcy protection in case # 01-22772.
This guy is a scam artist. Calypso is going to bury him.
droy, email me bulbar2@hotmail.com
Court today
Another desperate motion by Daic's attorney, this time to turn over the 4 new patents to the Judge for Daic. Judge quickly denied it.
Turrini also submitted signed affadavit that Carlos has zero authority to sell the patent or do anything else with it. Carlos is officially out. Not even a majority shareholder.
Trial date set for Aug 28. Turrini is bringing at least 4 witnesses. Some or all will attest to Daic threatening Calypso witnesses into not showing. Judge said if for some reason these witnesses can't come, she will accept their testimony in front of the jury by live video feed. Said they do it all the time now.
At last hearing, overheard Daic's attorney tell Cohn to make her an offer. Turrini is going to fry this guy.
AH, etc.
I'm not sure what Bill said because I have him on ignore but FYI, Miles Cohn was very impressive in the hearing while the opposing attorney, not so much. She was asking some really dumb questions and making some really unlearned statements that Cohn repeatedly was correcting. Believe me we are in good shape here and getting better every day. The judge's clerk told me that Judge Baker literally had no choice in rendering a default judgement because Calypso's witnesses didn't show up, but as soon as she saw some of the evidence Turrini had gathered against Daic and then brought to the court in March, she immediately granted the Bill of Review.
Will be a great year.
They are not sharing the case - Cyndi Rusnak and Jimmy Williamson are partners.
And from the dumb questions she was asking and saying yesterday, not very good ones. If it ever even gets to trial, this guy is in major trouble.
Hey Bill - I was at the hearing today in person in fact and it had zero to do with the trial date. And I also visited with the court scheduler who said it will be in July.
Unlike others, I actually do real DD, call the company, stuff like that.
I think you are mistaken.
I don't see any new filings on SEC site. ?
Yes, Turrini said they were working hard to get them done.
FYI, spoke to Turrini briefly. Says all is going very well. The interest in ASNAP is as advertised in the SH meeting - very strong. Working to finish end year 2006 filings and talking about getting off pinks. Hired a SEC specialist lawyer to help out and also a general council for the company. Court hearing will be sometime in July and he is very confident, backing up what Cohn said at SH meeting. All announcements will come out in due time and not necessarily after court case resolved (no details of course).
Said he was still working 80 hour weeks and won't rest until this is a multi billion $ company - this guy is the real deal.
No, it's not all or nothing - the court could say Daic is due a much lesser amount, but given the evidence Calypso has against Daic now I think the court would throw the whole thing out. All that is mute however because I think Daic will drop the case or settle for next to zip when he sees the evidence they have against him in exchange for Calypso not pressing criminal charges.
Again, I'm sure he does not want to keep them "secret" but they need approval from the judge to release them. Those with patience will be rewarded.
Yeah, IMO, they are all caught up in this judge approval process. If you remember, Turrini actually said during the SH Meeting that he had submitted something to his lawyer that week, and that was about 3 weeks or so ago. Of course Turrini was on vacation for 1 of those weeks. I should know better to think things move at "business" pace thru the courts, but I can wait. No more time keeping for me. I suspect he's sent in more than 1 given all the interest they've had, but just IMO.
Turrini and the CFO are working their butts off to finish the old filings. The old CFO (forget her name) basically dropped the ball.
I did get this note from Cristian a few days ago...
I know everyone wants to see some PR; please know that we are working for a short and long term gain. We are trying to do everything the best way possible. I have learned not to under deliver thats why I am trying to be cautious with my estimation of milestones.
Board is getting better. Regarding these suits, I can tell you that Turrini told me a while back that he spent most of 2006 settling all of the outstanding suits against CLYW and the only outstanding one was Daic. Don't know anything beyond that.
Talked to the scheduler for the 151st court and was told judge Baker did in fact say she wants to expedite the Diac case to be heard this summer. The scheduler was not told that unfortunately and so she just scheduled it a ways out. When her phone started ringing yesterday she checked with the judge and found out it is to be expedited. No date yet.
Yes, the Bill of Review says Daic's lawyer can "ok" any licenses and in that event CLYW does not need to go thru the court. Guessing he would certainly approve as licenses would put money in CLYW's pocket, so maybe in reality CLYW won't have to go thru the court for approvals which could speed things up. Of course, Daic will never get a dime.
Charles - yes I believe it is. IMO they are finalizing large licensing deals.
check your mail again.
Charles - you are absolutely right. They are working very hard and will be bringing some major deals to the table over the next few weeks imo.
BTW, you have mail.
Long term succession planning. Hilarious. Did you expect a PR that the current CEO David Davila was thrown out on his ear because he was mixed up in a fraud case? Are you that naive?
Check out this FMC article from yesterday. It has CLYW written all over it. Notice RIM says they will roll out FMC later in 2007.
The new Nokia-Cisco Systems partnership for enterprise telephony is the kind of simple-yet-comprehensive product that tends to make IT managers salivate, which is why it got such a good reception by attendees at the Interop trade show in Las Vegas on Wednesday.
Uniting corporate PBX services with cellular devices, it has the potential to provide an elegant one-device, one-number answer to complicated and costly corporate voice challenges. Aligning with Cisco's popular and widespread wireless LANs and its Unified Communications Manager system, it builds on infrastructure that many companies have already installed. And it runs over the well-received E-series line of Nokia devices including the recently released E61i, a BlackBerry-like smartphone with an expanded screen and a full qwerty keyboard.
Known as "Nokia Intellisync Call Connect for Cisco," the new product promises to at last bring to fruition the long-talked-about notion of fixed-mobile convergence, or FMC.
As you might guess, however, there's a catch: the new product is currently unavailable in the United States, and there's little prospect of it being supported by major wireless carriers in the near term.
Nokia will rely on a "complementary channel strategy" for delivering the devices and the new Call Connect product in the U.S., said David Dorosin, director of product marketing for security and mobile connectivity at Nokia. That essentially means bypassing the Big 4 U.S. wireless carriers and selling directly to enterprises. "Our focus is on taking this solution into the enterprise, and leveraging the [E-series] devices' dual-mode capability in the corporate PBX," acknowledges Dorosin.
The situation with the Nokia-Cisco system epitomizes the telecom industry's somewhat schizophrenic approach to FMC at the moment. Device vendors like Nokia and wireless LAN providers like Cisco see enticing productivity gains and nearly boundless demand for FMC capabilities in businesses large and small, while the wireless carriers, fearing an erosion of their core voice business, have resisted the spread of the technology.
Last year, Cingular launched a product called OfficeReach that uses a VPN to connect wireless devices to existing PBX telephone systems. And T-Mobile has launched in Seattle its "HotSpot at Home" service, which allows residential users to use their wireless network to make voice-over-IP calls using their cell phone. Speaking on a panel Wednesday at the Interop technology conference entitled "Enterprise Strategies for Convergence," Steve Shaw, director of marketing gat Kineto Wireless, said he expects the service to be rolled out nationwide by the summer.
To date, though, no U.S. carrier has announced a dual-mode WiFi/cellular service for businesses. Some carriers have actively discouraged the spread of converged services by disabling or barring WiFi functions on the phones they sell. Some service plans from carriers actually forbid voice-over-IP calls.
Device vendors, meanwhile, are moving aggressively forward to push converged devices into the market, particularly outside the U.S. Not surprisingly, Japan has become the leader in FMC deployments. Using devices from NTT DoCoMo and a voice-over-wireless-LAN system from Meru Networks, Osaka Gas in 2005 launched an FMC initiative that now comprises more than 1000 users and handsets.
Shipments of dual-mode phones will exceed 300 million by 2011, according to ABI Research, leaving resistant carriers in the position of putting a small dam across a very big river.
"Some carriers have been more open [to converged services] than others," said Meru Networks VP for product marketing Steve Troyer. "If history holds, the U.S. carriers will generally need a little bit of nudging from competitors to really move on this."
As Nokia announced its new FMC product, Jim Balsillie, co-CEO of BlackBerry-maker Research in Motion, was declaring his own intentions to embrace WiFi in upcoming devices. RIM will release a WiFi-enabled device as early as late 2007, Balsillie said in a speech at J.P. Morgan technology conference today in Boston.
"If you throw Wi-Fi in our products -- that's imminent -- and you have a service that does the handoff, it's something that can be interesting in the latter half of this year," Balsillie said.
He also asserted that "most of the carriers are supportive of FMC," an assertion that was echoed today by speakers on the Interop panel today.
"The dialogue has really changed," said Craig Gosselin, chief marketing office at NewStep Networks, a Bell Canada spin-off that sells converged-services software to service providers. "Twenty-four or even 12 months ago when we talked to mobile operators they really had a problem with the idea of cannibalizing minutes from their networks. It's been many quarters since I've heard that objection."
And if enterprises and converged-services providers find that the path to FMC remains blocked, there's another option, according to Vivek Khuller, co-founder of DiVitas Networks: "This is America," Khuller during the Interop panel discussion. "We always have the option of litigation."
They both specifically said they were "talking" 9 figure deals. I think you have it backwards in fact, companies are approachng CLYW just as much as visa versa.
Why don't you call him yourself instead of posting your questions? Same advice for LG. I call him and chat maybe once a week.
Yes, that was me on the phone asking Turrini if I heard correct. How could anyone not buy a 30c stock after the CFO who has zero ties to the old management says publicly they are talking 9 figure deals? And then the new CEO who booted out the old management confirms it. Beyond me why anyone would not want at least some small position, but to each his own.
It was Turrini not Sando that said they are talking to "several Fortune 250 companies about 9 figure deals" and then I asked him point blank later if I heard that right and he said "that is correct".
Lots of the same here on the board I see. Bottom line - I was on the call, asked the "9 figure" question point blank and got a "that is correct" answer from Christian with zero hedging from Sando afterward. If the CFO was going object, that was the time and he did not. Also heard Christian say they have emailed done deals to the court.
Christian also said last week they were delivering equipment to one of their cutomers to install on their networks. It's happening. CLYW probably has more upside right now over the next 3 months than most any other stock.
Great summary Foo. They had a strategy meeting over the weekend and I know licensing rollouts was one of the topics. Just remember..."9 figure deals" (and that's per year and per deal). Only one of those would value this > $10.
$100MM revs = ~$80MM earnings/130MM * 20 = $12
Charles you have mail.
Not every deal will be 9 figures but some will certainly be. The total annual revs on ASNAP alone might be closer to $750MM-$1B.
From the 2Q 2006 filing:
Further, Alcatel which purchased Lucent Technology has contacted Calypso Wireless regarding meeting about our ASNAP patented solution.
That was one of the names mentioned at the SH meeting.
No more time tables for me. Don't care if it's next week or next month...They will announce when they announce and this will be a $10+ Naz company in due time.
Spoke to Turrini this a.m. and said they need to tie up a couple loose ends, he was going over there (I assume somewhere in Miami?) this afternoon to work on them. Asked him if we'd see some announcements in the next couple of weeks and he said most definitely. Sounded very confident as usual.
I remember in the SH meeting he said they already submitted 2 deals to the judge just to inform her before they released them.
I'll try to do short summaries:
1. Opening and major announcements - announced CFO (Turrini told me afterward they were all ready to announce a deal but needed to tie up a loose end first - I think it comes out early next week)
2. Introduction of the new Management Team - CFO, hinted
strongly Sharma coming back, gave out new board members names
3. The Financial Statements and Annual Report 2006 - said will be out next week, wanted done by SH meeting but not finished yet, auditor is at their offices working
4. Approval of the Financial Statements
5. Financial Projections -Did not do, would have been forward looking and did not release safe harbor statement pre meeting
6. Dividend Proposal - CFO said to plow early revs back into business
7. Legal presentation: patent and litigation issues - reviewed lawsuit and response by CLYW (I've summarized it in earlier posts)
8. Discharge of the members of the Board of Directors for their management during the year 2006 - don't think they formally did, but announced new board members coming on (CFO and one other I didn't catch name). This is important because by bringing in new members and firing Davila, Turrini has now fully wrestled control of the company away from mendoza et al because Turrini controls majority of voting rights.
9. Remuneration policy for the Members of the Board of Directors
10. Technical presentation and demonstration of ASNAP and BLUBLASTER - demoed both. Also introduced email/VOIP tech and talked about its potential (mentioned MSFT specifically). Sharma gave long presentation on ASNAP and gave long list of companies wanting this capability (Nokia, Avaya, Motorola, Sprint, Verizon, Cingular...)
11. Questions & answers - this is where Turrini said and then specifically reiterated that they were talking "9 figure deals with several Fortune 250 companies" (I thought he said Fortune 500 but someone that was there said Fortune 250). (Holy crap)
12. Summary and Conclusion by President and CEO
Summary From Yahoo Board:
I must tell you all that I was very impressed by Mr. Turrini, Mr.
Sando, Jill, Calypso's attorneys and Mr. Valenti as well. The poor quality on the conference call was due to the proximity of it to the people speaking early on. To ensure that you all could hear, all speakers held the call pod in their hand and spoke almost directly into it, or they stood next to it when they spoke. I was the guy holding the gsm phone during the ASNAP demonstration when Valente made the calls. To put it simply, it works, and there should be absolutely no doubt by any of you about it. Another shareholder from the DC area watched Mr. Valenti place the calls. The Blublaster demonstration was also successful. These technologies are well engineered and are ready for prime time.
I also asked the question about the timeline, litigation aside, and about the company's prioritization of events. There is a lot they want to do and I wanted to hear their primary focus. Goal 1, build their management team and board of directors so that the company is well grounded. Goal 2, licensing. Goal 3, acquiring new patents and technologies. Goal 4, reinvest in the company to create a broader base by which to acquire more of what they need in terms of acquisition and development. Turrini clearly stated the goal isn't to build an $80 million or $100 million company. The overall goal for Calypso is much larger than that.
Mr. Sharma's presentation was well done and I can't say enough about his expertise in fixed mobile convergance. He knows his stuff. Mr. Leon was in attendance, as were investment bankers who are currently funding Calypso's endeavors. There were several other shareholders there and chairs were added at the back of the room to hold more people.
Overall this was a successful shareholder meeting despite the drop in share value today. I surmise that the speculators who were looking for the licensing agreement today bailed.
This Calypso team has a plan and I think they can execute it. Turrini and others made the point that past management is out, and they are in and moving forward.
I can do this is you want, was on the call, but if you'd rather hear from tech no problem
NO. There is no question of who owns the patent. I told you before, the lawsuit was never about the patent and the judgement was money not the patent and anyway it will be over-turned or settled for about zip beforehand and then criminal charges will be filed. This is a once in a lifetime chance to own a future Naz big board billion $ market cap company beforehand. But do what you want..
Can't believe people are selling this after the CEO said they are talking 9 figure deals and hinted they have some already done but it's a great chance for me to load a larger position. Look back 1 month from now from $5