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works for me.
I'd rather see something from UL about the panels though. It's been over a year.
You know, for the $ that Billy borrowed from Bentham to (apparently) fund his personal expenses, he could have just kept this company and stock current.
Who knows how many shares he owns. maybe a majority, maybe not.. I don't know if I'll be voting, but I can tell you that I will be reading every letter of every word no matter how small the fine print.
If what is alleged is true, then anything we're sent would be about him and getting his $ sooner.. under the guise of being in our interest.
That would be icing on the icing, but nothing I'm worried about at this point.
We know the 13 either have settled or are interested in settling in very short order. Once we get our share from that settlement, I imagine many of us will be leaving shares to our kids,grandkids, neices, nephews, etc. for any residual that hits down the road. I'll let them worry about international stuff since it would likely be many years before any $ comes of that.
Good info that I'll study further sitting on a beach sipping a cocktail once this is all said and done :)
it has been in an extremely narrow range for a long time. Very odd.
If anyone knows anything about RIDEm, they really don't seem to be trading on it.
Won't be long now.. Either we jump 1000% or lose 90% ????
Fun times!
Yes, he does control it.
No, he can't enrich himself at the expense of the minority shareholders.
We are a country of laws... laws that are very favorable to minority shareholders I might add. Waterfalls he creates won't change that.
where in the contract does it say Monthly payMents need to be paid?
It just says principle will accrue. That's a norMal thing. Doesn't Mean ownerhsip is lost.
Have a great day!
Wait wait wait.. I don't see anything about UO!IP in here. This corporate disclosure statement must be off.. Where is Billy's extra 20% that he gave himself?
Just being sarcastic. It's monday. Have a great week everyone!
sorry you had a rough week sir. making $ here is nice but doesn't offset the tough things either. Praying that your recovery so that you can enjoy the good things to come here with pctl!
from Chanbond financials:
" If the Promissory Note is not paid in full by the Maturity Date, the aggregate principal amount shall be increased by Twenty Five Thousand Dollars ($25,000) for each month such payment is delayed (or pro rata portion thereof) until paid in full"
It's not an issue!
I used to be a gambler and made good money at it. Dabbled in stocks and never had the same results.
Wife would always say 'quit investing and get back to gambling'.
1. UOIP owns chanbond
2. UOIP owns chanbons
3. not legal
4. not legal
5. Opinion-disagree
6. opinion-disagree
7. there is a provision to pay $25k interest a month after the $5m was due. There is nothing that says it needs to be paid pre-verdict ( note that there is no verdict, so we are still 'pre-verdict'). W
8. Thank you, we enjoy it too!
9. Not legal
God Bless!
can you summarize or share it on another platform? I did not see.
Thanks!
I remember projections that high, so I'll second you on this. It would take a while to find, but point is... you're not just taking a number out of thin air.
Whatever we ended up settling for is less than what the inventors deserved.
Any number up to and including that is reasonable to bat around.
"I suppose some will then spin it has, well we have an operational one and can say that when trying to get others up and running"
I'll be happy to be the first to spin it that way. medrecycler alone was never going to drive us to the stratosphere, at least not by my valuation.
The real value is getting it up and running and demonstrating it works. Just because you've stated it first and called it 'spin' doesn't make it any less true. I have been saying this all along... for many months.
Lets see this thing up and running. The rest will take care of itself.
Hoping to see approval soon!
Ditto!
Ex -UOIPers are going to run the show for a few different stocks by the time it's all said and done.
I keep rooting for some of my favorites to stay low until the money comes in here. I think that's a losing battle though :)
Yeah that's my understanding.
They would not have settled if this had worked. It's a nice try, but my non-legalise take is that a reasonable person would have understood that the sale of the patents included 'all rights and privileges herein', which would have included the ability to assign or transfer them.
It would have been meaningless to buy the patents if ownership carried no value. The judge saw through all that.
this was rejected before the trial, correct? It was filed 5/14 as a last ditch effort, but didn't work.
Am I remembering correctly?
this is awesome.. there was a lot of talk on this board about how the judge would never see a letter. clearly... that was wrong.
You are a hero. Thanks for taking a leap and getting our concerns on record!!!
this is brilliant
it is odd to see all the marketing materials before the product is available. Summer is a good time to drop this stuff... what with the sun and all. UL process is painfully slow, but I guess it's that way for everyone.
Billy I am going to second ZW on this one. I think it's the deal of a lifetime over there. I hope you are able to move to that new zip code for the sake of your kid, and I think this ticker could help.
God Bless!
I can back ZW up on that. He got me into another one that I'm extremely excited about... and I'm down about 30%!.
Whatever happens with UOIP, I hope this community survives in some form elsewhere.
All I'm saying is that I won't be happy with a penny less than we deserve. That's exactly what I'd tell Billy if he were in front of me right now. These are sentiments I assume every shareholder shares and I think it is to our benefit if those cards are seen.
I would have preferred a trial ( If you look a year or two ago, I was one of the few voices saying that... and got chastised for it) and so my sincere hope is that any settlement we did get or will get is reasonable and very close to what we were asking.
All that being said... whatever we settled for... I won't be satisfied if Bily or Bentham takes more than their share. Even if we get $1.00 a share.. I'm not going to love it if someone is skimming off the top. I agree that not everything needs to go in a public forum... but to me... the idea of fighting for what we deserve on principle is a card I see no downside to showing.
Agree! I don't really care about the dollar amount. Sure... more is better, but I want to feel good about it at the end of the day.
If we settled for 12 cents ( not that I think we should have, but if...) then that's fair. But yeah... I would not be happy getting 12 cents per share out of a $1B settlement, regarldess of whether it would change the trajectory of my life or not ( It would)
Thank you. Not sure where I got the $25m. Maybe I was getting it mixed up with a capped % or something.
THanks for clarifying.... Of course, anything is too much!
Ahhhh. that's possible. Maybe the $25m is a floor, not a ceiling. Either way, it's nothing we shareholders should be covering.
to further elaborate.. I don't have the numbers in front of me so these are nice and round just to make the point...
Let's say the total settlement is a billion.
Inventors 25%
lawyers 30%
Bentham 25%
us- the rest....
then this would only leave us with 20% of this, or 200 mil to split among shareholders.
HOWEVER
If Bentham is capped at $25mil, then in the above scenario, he'd only get 2.5% rather than 25%, and I assume the rest would go to us as a part of the 'what's left' bucket.
Inventors: $250mil
Lawyers: $300mil
Bentham: $25mil
then that leaves $425mil for us, rather than just $200.
This is leaving Billy and UO!IP and Diedre and all that out of the equation, and is just meant to make the point that if Bentham is truly capped, then in a large settlement our share is larger than it might appear at first glance.
Just to be clear, whether Bentham gets $25mil or $250mil I believe Billy should pay for all of it, but either way... $25m does look a lot better.
Am I correct that Bentham is capped at 25mil? Their actual % would be much smaller in the event of a large settlement.
Still something Billy should cover out of his share IMO
soon enough. Have a nice weekend sir.
I said... I'm not a lawyer... nor do I claim to be. Waiting for an acknowledgment that I already said that.
Lawyers are telling us it's illegal, that's cause for concern. Happy to let lawyers sort this one out, but if this is what they're saying I see no reason not to look into it.
Your point proves my point. I don't know the laws, statutes, etc. around this...I'm not the brightest guy. Never claimed to be. All I can go by is what the lawyers are saying. If they say it's illegal, then that's a concern. I don't see where you can disagree with me on this.
Per every lawyer we ( BA ) has talked to, it is not legal for BIlly to create a new company and assign 20% of our payout to himself, nor is it legal to take loans from Bentham for personal expenses and give away 20% of our payout for that.
I am no legal expert and certainly don't claim to be.... But if lawyers are saying that this is an illegal taking, then I'm inclined to believe them.
You talk about being rational, but I don't believe you've ever offered a counterpoint to the items above. At the very least, surely you can see from a shareholder's perspective that if every lawyer is saying that he's trying to steal from us... that would be tough to ignore.
It's not like someone from this board created Diedre's TRO request. That's all we have to go on... and if it is correct, lawyers are telling us it will not stand.
Just to be clear, I am relaxed and am excited about the efforts you refer to, and I believe shareholders will previal. I post not out of frustration... but rather because I like the idea of making sure others who are popping in every now and then here are getting all perspectives.
I agree that we don't need to litigate our case on here ( since clearly the 'opposition' reads this) but I do think it's good for the narrative of the board that folks know why action is being taken and that the vast majority of us support it.
Have a great holiday tomorrow, thanks to all who serve and who have served, and who have family members who have paid the price.
God Bless all!
What's the downside? This whole case is about outside help.
BIlly has it. Diedre has it. Inventors surely have it. The 13 have (had) it. Why not us?
Even if you give Billy the benefit of the doubt and assume this TRO is false (I don't, for the record).. what do we lost by having someone looking out for our interests.
Not trying to fight/argue.. just understand. Serious question.
I simply mean.. THere are laws. I don't care whether he loves or hates us... He simply needs to do the right thing. I'm responding to the idea that we need to walk on eggchells or tread lightly so that he'll do the right thing.
None of that should have to matter. No actions of ours should have any impact on whether he does the right thing or not... but if we do need to impact this... it won't be through anything posted here, but rather legal action.
He can dislike us all he wants as long as he pays up!
I am curious as well, but in the end, it shouldn't matter. I don't mean this to sound uncaring, but it should not matter whether Billy loves us, hates us, or something in between. We should not get a penny more or less either way.
If this was a large settlement ( I imagine it was) I believe Bentham gets up to $25mil. If Billy pays that from his share, and gets rid of this UO!IP thing. problem solved. If he announces that he will do this, then that is the last thing shareholders need to hear from him.... we'll just wait for our money.
The idea of a 'vote' when he holds the majority of shares is meaningless. It just means he decides something... but As we all know, he has a fuduciary duty to us and so if any vote of his is not good for all shareholders, then it can be challenged and as I'm sure he knows, we'd win.
In absence of communication from him for the last couple of years, shareholders have a right to be concerned... and a vote would not remove that concern at all.
Good luck to us!
Did Billy say anything about UO!IP or taking 20% off the top? Putting a vote to shareholders is great.... but I imagine we'd all vote to not authorize him to create a separate company to get 20% of the funds coming to UOIP.
Last of my allowed posts for the day, so no-one say anything good for the next 6 hours!!!
I am glad ZW sees some positives here and glad Billy may be seeing the light. I hope he makes a statement, tells us we're good.. and this all goes away.
That said, I strenuously object (#topgun) to any characterization of legal action as not taking the 'high road'. We have all seen the TRO where UO!IP gets 20%, and we know loans were taken for personal expense. It is entirely reasonable to take legal action to protect our rights, and I see nothing 'low' about this.
None of us forced Billy to create UO!IP or give himself 20% off the top, and no one should feel bad working to ensure that doesn't actually happen.
Anyway, I'm good with everything else... but if and when we do take legal action.. I truly believe that it will be the 'high' road. We owe it to ourselves and each other to do nothing less. Have a great weekend all!
Thanks ZW. are there recordings of these conversations or can we get something in writing from him that attests to this?
While I hear, trust, and appreciate this... I know you know that we've had many folks on here claiming to have talked to Billy for years and so I think we're naturally a little jaded by that.
It's exciting to have a glimmer of hope, but I believe we need ultimate vigilance as well. You say he is a decent guy.. but on paper I see a TRO which is not decent, and I don't know how to reconcile the two.
Thanks for reaching out, and please ask him to update us soon.
Have a good weekend!
Now we are getting into preferred personal pronouns. This case has already taken an odd turn.