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$ONCI,,,Hey mikeyt, same feeling. I continue to buy and hold and not even contemplating any sell!
$VCEL,,Had a nice $.15 uptick on Fridays action and looks as if we can expect some nice continuation. The chart and indicators look really good and had a great earnings report:
Vericel Reports Second-Quarter 2017 Financial Results
GlobeNewswire•August 9, 2017
Revenue of $17.0 Million Represents a 32% Increase Over Second Quarter 2016
Results Driven by Momentum of MACI Uptake Following Launch
Conference Call Today at 8:00am Eastern Time
CAMBRIDGE, Mass., Aug. 09, 2017 (GLOBE NEWSWIRE) -- Vericel Corporation (VCEL), a leading developer of expanded autologous cell therapies for the treatment of patients with serious diseases and conditions, today reported financial results for the second quarter ended June 30, 2017.
Total GAAP net revenues for the quarter ended June 30, 2017 were approximately $17.0 million and included approximately $12.9 million of MACI® (autologous cultured chondrocytes on porcine collage membrane) and Carticel® (autologous cultured chondrocytes) net revenues and approximately $4.1 million of Epicel® (cultured epidermal autografts) net revenues, compared to $8.9 million of Carticel revenues and $3.8 million of Epicel revenues, respectively, in the second quarter of 2016. Total GAAP net revenues increased 32% compared to the second quarter of 2016, with MACI and Carticel revenues increasing 44% and Epicel revenues increasing 6%, respectively, compared to the same period in 2016.
MACI and Carticel GAAP net revenues include a partial reversal of a revenue reserve established in the first quarter of 2017. In April 2017, the company received notification of a contractual dispute between a contracted service provider and a third-party payer related to certain insurance reimbursement claims associated with Carticel and MACI surgeries performed in 2016 and 2017. This dispute was subsequently resolved and the negotiated reimbursement resulted in the company’s ability to recognize $1.4 million in additional MACI and Carticel revenue in the second quarter. Excluding the $1.4 million partial reversal of the revenue reserve, total revenues increased 21% and MACI and Carticel net revenues increased 28%, respectively, compared to the second quarter of 2016.
Gross profit for the quarter ended June 30, 2017 was $9.3 million, or 55% of net revenues, compared to $5.5 million, or 43% of net product revenues, for the second quarter of 2016.
Research and development expenses for the quarter ended June 30, 2017 were $3.0 million compared to $4.1 million in the second quarter of 2016. The reduction in second-quarter research and development expenses is primarily due to a reduction in ixCELL-DCM clinical trial expenses.
Selling, general and administrative expenses for the quarter ended June 30, 2017 were $8.8 million compared to $6.4 million for the same period a year ago. The increase in selling, general and administrative expenses is primarily due to an increase in expenses for marketing initiatives related to the launch of MACI and an increase in personnel costs primarily related to an increase in the MACI sales force.
Loss from operations for the quarter ended June 30, 2017 was $2.5 million, compared to $5.0 million for the second quarter of 2016. Material non-cash items impacting the operating loss for the quarter included $1.3 million of stock-based compensation expense and $0.8 million in depreciation expense.
Other income for the quarter ended June 30, 2017 was $0.1 million compared to $1.9 million for the same period in 2016. The change in other income for the quarter is primarily due to interest expense on the outstanding revolving credit agreement and term loans and the change in the fair value of warrants in the second quarter of 2017 compared to the same period in 2016.
Vericel’s net loss for the quarter ended June 30, 2017 was $2.4 million, or $0.07 per share, compared to a net loss of $3.0 million, or $0.22 per share, for the same period in 2016.
As of June 30, 2017, the company had $14.0 million in cash compared to $23.0 million in cash at December 31, 2016.
“We had a very strong second quarter driven by the accelerating uptake of MACI,” said Nick Colangelo, president and CEO of Vericel. “Our robust revenue growth and margin expansion reflect the success of our commercial team’s sales and marketing initiatives coupled with strong physician enthusiasm for MACI.”
$ONCI,, Another nice ONCI article.
https://insiderfinancial.com/on4-communications-inc-otcmktsonci-climbing-up-the-charts
Congrats on your new board Fitz. I will pass this along.
BTW,,,PoemStone contacted me to see if I wanted to be an assistant moderator on the Coffee Shoppe board. I guess they are trying to find new boards for members of Dip and Rip to o
$ONCI,,Hey BigTime,,,I can understand and accept how you trade as I do the same type of trading in drug stocks. What I see here is the MM's shorting which will cause more shorts from retail trying to get in on the profits of shorting,,,but smack,,,news pops, shorts scramble and the crying begins. This is NOT a company to 'bet' with. Odds are against the shorts on this particular company and although there may be a window cracked open now and then to climb in and short, the CEO could slam that window shut anytime,,,as has been seen. Just My Opinion.
$ONCI,,,agreed INSTATRADER,,,this company has more potential for solid, sustainable growth than any company I have come across in years. I honestly believe that the next piece of news could send the pps of this company well above the $.01 range.
$BBOX,,,should see a nice recovery after the beating from its 1st Quarter report. Chart and indicators show This stock should rise. The last 40 minutes on Friday show greater buying growing. Just my opinion
Here is the Attny who filed Colorado filing for Hexagon Holdings:
John E. Dolkart, Jr. is an attorney in San Diego, California with a practice that focuses on civil and business litigation. Mr. Dolkart represents clients in corporate, securities, and regulatory matters including matters of enforcement and corporate finance before the Securities and Exchange Commission and California Department of Corporations. Mr. Dolkart can provide counsel on business incorporation, entity formation, and venture capital placement.
John Dolkart will work proactively to explore all possible resolutions for your unique legal needs. Mr. Dolkart represent clients, including several public companies, through various stages of litigation and during complex business transactions with experience in a broad array of practice areas from medical malpractice to trust and estate law. Through an extensive network of accounting, consulting, financial, real estate and legal professionals which be tasked to assist in specialized areas; clients are assured of a professional and personalized service that larger national firms simply cannot deliver.
Atty who filed for Hexagon Holdings in Colorado:
John E. Dolkart, Jr. is an attorney in San Diego, California with a practice that focuses on civil and business litigation. Mr. Dolkart represents clients in corporate, securities, and regulatory matters including matters of enforcement and corporate finance before the Securities and Exchange Commission and California Department of Corporations. Mr. Dolkart can provide counsel on business incorporation, entity formation, and venture capital placement.
John Dolkart will work proactively to explore all possible resolutions for your unique legal needs. Mr. Dolkart represent clients, including several public companies, through various stages of litigation and during complex business transactions with experience in a broad array of practice areas from medical malpractice to trust and estate law. Through an extensive network of accounting, consulting, financial, real estate and legal professionals which be tasked to assist in specialized areas; clients are assured of a professional and personalized service that larger national firms simply cannot deliver.
Contact us today to see how we can help you.
$FRZT,,,Just so I can catch up on this company:
About Freeze Tag, Inc.
Freeze Tag, Inc. is a leading creator of mobile social games that are fun and engaging for all ages. Based on a free-to-play business model that has propelled games like Pokemon Go and Candy Crush Saga to worldwide success, we employ state-of-the-art data analytics and proprietary technology to dynamically optimize the gaming experience for revenue generation. Players can download and enjoy our games for free, or they can purchase virtual items and additional features within the game to increase the fun factor. Our games encourage players to compete and engage with their friends on major social networks such as Facebook and Twitter. Founded by gaming industry veterans, Freeze Tag has launched several successful mobile games including the number one hit series Victorian Mysteries® and Unsolved Mystery Club®, as well as digital entertainment like Etch A Sketch®. Freeze Tag games have been downloaded millions of times on the Apple, Amazon and Google app stores.
It appears this company has a major win having Garfield:
Garfield GO News: Freeze Tag Announces Anytime, Anywhere Gameplay
Marketwired MarketwiredAugust 7, 2017
TUSTIN, CA--(Marketwired - Aug 7, 2017) - Freeze Tag ( OTC : FRZT ), a leading creator of mobile social games, today announced that a major update to Garfield™ GO, a free-to-play, augmented reality treasure hunting game is available now in the Apple iOS App Store and Google Play App Store.
I will be tracking this also as I have been looking for some sub-penny stocks.
$BIOC,,,Had a pretty bad day today but came back off the low of $1.11 to close at $1.25. It had decent volume today @ 778k vs. average daily volume of 558.40k. It had a big gap down at the open but began to claw its way back up. The RSI is sitting at 53.29 and headed up. MFI is 22.60 headed back up. MacD is just begining to cross over the signal and slow stochastics has just turned to head up.
It actually had a very positive financial earnings report, but they missed expectations by a penny. My take is that investors saw they had missed expectations and immediately dumped shares. They then began to realize the report was actually good. It maybe that the gap will be filled by mid-week next week. All of this is only in my opinion.
Oh, you're right, that will be on Monday.
Can anyone let me know what happened with this on-line endeavor:
New York, NY -- August 1, 2017 -- InvestorsHub NewsWire -- On4 Communications, Inc. (OTC Pink: ONCI) today announced it Has entered into a marketing agreement with one of the largest worldwide online shopping sites with access to over 50 million customers,
CEO Steve Berman states, “This is our first foray into the online marketing business and we are pleased to be associated with a company that’s can deliver our FMS safe driving app to millions of eyes daily. This shopping site also has arrangements with large corporations that offer discounts to there employees including Fed Ex, Pepsi, UPS and General foods and many other companies in the USA and around the World.
Berman states “We will be placed on the home page and have access to all its top members and will be involved in e-mail blasts and other major sales opportunities. We will be launching this endeavor on Monday August7. I will release the name of the site as soon as our move to Colorado is finalized which we expect to be completed within the next 2 weeks.
“With our recent success in Asia and South America we are now becoming a completely Global Company with a major online presence.”
“I look forward with a great deal of excitement to providing several more updates on our global and national growth over the coming days including updates on commitments from Asia, South America and the USA.” CEO Steve Berman concludes.
Thanks
$ONCI,,This will be a great time to get Into this company. IMO
ONCI DD updated to reflect NEW SALES:
ONCI Acquired FMS marketing in NOV 2016:
11/04/2016 On4 Communications acquires FMS Marketing
FMS (or Family Mobile Safety) is our drive safe or distracted driving app. ONCI owns a 49% stake in this app.
Let’s take a look and see what this app has given us in the last 8 months:
On 12/19/2016, ONCI announced: ONCI Secures New Contract with Large Food & Beverage distributor. 1000 units sold.
On 12/23/2016, ONCI announced: ONCI Secures New Contract with Large Taxi Fleet. 1500 units sold.
On 01/06/2017, ONCI announced: ONCI Secures Luxury Auto Dealer for their Proprietary FMS Drive Safe App. ? units sold.
On 01/18/2017, we get our first sale of the vehicle tracking device: ONCI Launches Revolutionary Tracking Device Platform and Secures 1st Contract. 500 units sold.
On 01/24/2017, ONCI announces: ONCI Increases Revenue by Securing 8 New Vendors in Florida. ? units sold, but we get this little nugget of info: As previously mentioned in earlier press, it takes approximately 6 months for full vendor implementation. This means that ONCI has given its customers time to bring in all the units and terms to pay for the units sold, meaning revenue for these sales is flowing in NOW.
On 04/19/2017, we get our first ASIAN deal: On4 Communications Inc's FMS Marketing Receives $100k Order from Leading Asian Auto Manufacturer. This is a test run of 500 units of our drive safe app. Prior DD has shown that Berman was in South Korea and that the ‘Leading’ car maker is most likely KIA or HYUNDAI.
On April 26, 2017, ONCI announces: ONCI Releases New Contract. 1250 FMS units sold to SECOND major ASIAN car maker.
On 06/26/2017, we received this: ONCI Launches Global Distribution And Inks a Deal in Brazil and South America. 750 units sold.
7/25/2017: 1000 units at $175 each for a total purchase order of $175,000, another 1000 units on hold.” 2000 units sold.
07/27/2017 ONCI INKS DEAL WITH MAJOR FLORIDA AUTO DEALER LAW GROUP
This gives us the immediate attention of over 500 auto dealerships. Law Firm gets commission on all deals. Even if 10% of all dealerships order 50 units, that's 2500 units sold, which is VERY conservative.
08/01/2017 ONCI LAUNCHES MAJOR DEAL WITH A LARGE WORLDWIDE ONLINE SHOPPING SITE Our first retail venture. Will be live on 8/7/17. We can sell thousands of units with front page exposure.
08/03/2017 ONCI LAUNCHES DEAL WITH LARGE EXTENDED WARRANTY COMPANY IN ARGENTINA. 1000 units sold
08/04/2017 FORD MOTOR COMPANY INVITES ON4 COMM TO ITS CORP OFFICES IN DEARBORN MICH TO PITCH ITS FMS DISTRACTED DRIVING SOLUTION We know that two South Korean auto makers have purchased the app (not revealed yet), and a Japanese auto insurer bought the app as well (also not revealed yet). Why not FORD? We can sell thousands of units in an initial test drive. Can you imagine if we get a complete roll out?
New York, NY -- August 08, 2017 -- InvestorsHub NewsWire -- On4 Communications, Inc. (OTC Pink: (OTC :ONCI)) - On4 Communications (OTC: ONCI) today announced it has been invited to present its FMS safe driving app to the CHRYSLER CORP Ticker symbol FACU IN AUBURN HILLS MICHIGAN on THURSDAY Aug 31 2017
CEO Steve Berman states, “Distracted driving is a worldwide epidemic and auto makers have now realized that this is the logical next step in auto technology. I look forward with a great deal of excitement to secure future meetings with major auto makers in the USA and EUROPE .”
"All previous corporate announcements are on targ
ONCI IS PROUD TO ANNOUNCE AN INVITATION BY THE OFFICEGOVERNOR OF THE GREAT STATE OF MICHIGANS OFFICE TO PITCH ITS FMS SAFE DRIVING APP ON AUGUST 30 IN LANSING, MICHIGAN
New York, New York-- Aug 10 2017 -- InvestorHub NewsWire -- On4 Communications, Inc. is pleased to announce an invitation to pitch its FMS Safe Driving app on August 30 in Lansing, Michigan, the car capital of the world.
CEO Steve Berman states, The Michigan directive to stop distracted driving in its tracks is on the forefront of states that want to stop the distracted driving epidemic. Michigan will be creating a website for all young drivers under the age of 24 to give them insight to stop distracted driving. Michigan would like On4 Communications to participate in this initiative to roll out a website to improve safe driving practices.
Michigan is one of the first states to develop a distracted driving website for all young motorists. Michigan would like to have all young drivers have a distracted driving deterrent to keep them safe while driving. Michigan is working on legislation to have all young drivers protected by a distracted driving solution.
Steve Berman also states, In addition we have officially filed with the state of Colorado for the name of Hexagon Holdings Corp., this will be available to view within the next 1-2 business days. This is the first step in a re domicile process, and one step closer to our previously announced MJ joint venture, more updates to come next week. We expect to release another big names shortly, stay tuned. Steve Berman concludes
ON4 COMMUNICATIONS MAKES AN AD DEAL WITH GOOGLE BRAZIL
New York, New York -- Aug 11 2017 -- InvestorsHub NewsWire -- On4 Communications, Inc. is pleased to announce it has executed a contract with Google Brazil yesterday.
CEO Steve Berman states, "This is another big step for us as we move into another huge revenue stream opportunity. We expect to earn approximately $600,000 from this deal in Brazil over the course of the next 12 months. We are confident that when this deal works out we will make similar deals with Google in Argentina, Peru, Chile, Columbia, Paraguay and Venezuela creating a revenue stream of well over 1 million USD per year." "Our goal is to create a multi-revenue stream platform including business to business, business to consumer, and direct marketing sales."
"More updates, including Colorado and another large auto-manufacturer, will be released beginning early next week." Steve Berman concludes.
TOTAL UNITS SOLD (estimated that we know of) = 11000 units + or a MINIMUM OF 2.2 million. I can honestly predict that this number will be much higher with additional sales, plus ALL OTHER REVENUE STREAMS BEING LAUNCHED.
I see a trend here. Not only is Steve selling the app (for $175-$200 wholesale), but it is being purchased by large companies. What I find very interesting is that MAJOR car manufacturers are purchasing a technology that they could very easily create themselves. Or can they??? There’s a lot of competition out there and there’s a LOT of big companies that have the know how to add this kind of technology into their vehicles. But they chose to buy the ONCI app. This speaks volumes.
And as Steve said, this is just the tip of the iceberg. We have a digital advertising company, we have the GEO tracker app and the forthcoming Apple Beacon app. We have been looking at JV’s with MJ companies, and there’s the forthcoming Share Reduction, to be completed after the redomicile to CO.
It's a great time to be an ONCI shareholder.
Totally agree with your post Last One.
Hi Fitz,,,I have tried numerous attempts to get on and send a message without luck. I got in and out of AEZS,,,0icked up a position of MNKD,, I hope it treats me better this time,,,I had to hold on for about 2 months last go round in order to get my money back,lol
Hey jimr1717,,,is it still that high?
Not a problem.
Wow, lots of users and time being spent on Viva!!! Do we know what that relates to n revenue?
Go Aussies!!
Glad to have followed you here. I owe you for all your help in the recent past and hope I can return the favors. I think this could be a tremendous board.
Hello. My name is Mac and I wanted to introduce myself. I typically review lots of BioPharm stocks and try to pick some short term runners (1 hr - 3,4 or 5 days). I have begun looking at penny stocks as I made a huge profit on my very first one (beginners luck). But I found I enjoy the quick pace f the OTC Market.
I do have an OTC OMOANY now IN which I have invested as I believe the CEO is nothing short of amazing. He has a lot of ideas he would like see come to fruition and what I find amazing is he has contacts to make those things happen.
The company is ONCI. I recommend you guys drive over to the ONCI board here on IHUB, and read up on all of the DD which has already been gathered. One issue I have brought up is the outstanding shares. There is a number but until I see it written in a filing, I don't trust it. The CEO has stated an 8k will be issued in September. If said it, I believe it. This filing will identify all shares and how they are listed.
Good luck trading and I hope to spend some quality time in this board.
Here is some new news just released about 30 minutes ago:
ONCI IS PROUD TO ANNOUNCE AN INVITATION BY THE OFFICE OF THE GOVERNOR OF THE GREAT STATE OF MICHIGANS TO PITCH ITS FMS SAFE DRIVING APP ON AUGUST 30 IN LANSING, MICHIGAN
New York, New York-- Aug 10 2017 -- InvestorHub NewsWire -- On4 Communications, Inc. is pleased to announce an invitation to pitch its FMS Safe Driving app on August 30 in Lansing, Michigan, the car capital of the world.
CEO Steve Berman states, The Michigan directive to stop distracted driving in its tracks is on the forefront of states that want to stop the distracted driving epidemic. Michigan will be creating a website for all young drivers under the age of 24 to give them insight to stop distracted driving. Michigan would like On4 Communications to participate in this initiative to roll out a website to improve safe driving practices.
Michigan is one of the first states to develop a distracted driving website for all young motorists. Michigan would like to have all young drivers have a distracted driving deterrent to keep them safe while driving. Michigan is working on legislation to have all young drivers protected by a distracted driving solution.
Steve Berman also states, In addition we have officially filed with the state of Colorado for the name of Hexagon Holdings Corp., this will be available to view within the next 1-2 business days. This is the first step in a re domicile process, and one step closer to our previously announced MJ joint venture, more updates to come next week. We expect to release another big names shortly, stay tuned. Steve Berman concludes
About On4 Communications
On4 is a holdings company with an aggressive focus of acquiring proven and profitable businesses. Our first project is focusing on businesses operating in the $1.7 trillion U.S. healthcare industry. Our newest targeted businesses are operating in the trillion-dollar mobile App space. Our first acquisition in the mobile App space is FMS Marketing a global creator and distributor of mobile Apps for Android and Iphones. We are also targeting businesses to acquire and joint venture with in the medical marijuana and emerging MJ ancillary products space.
Forward-Looking Statement
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," ""believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements, as described in our reports filed with the Securities and Exchange Commission which are vailable for review at www.sec.gov, to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or o to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
That's true! He is smart so I don't expect the news until 3:59 today. Even without news, stock is doing alright. Keep news under wrap for tomorrow's opening. JMO
Can someone copy and paste the tweet fro SB,,,I missed it,,,I can assume what was said but would like to see it.
Thank you
Hey DJ, you are correct. I purchased a block of shares last week after reading some info on the company. As the week has gone by, I have become more knowledgeable about ONCI and have not been as excited about getting in with ANY COMPANY as I have with this company. All I can say is WOW. I have been buying penny stocks for over a year and I have to say this company appears to be structured for greatness. The CEO is perfect to lead this company forward and I look forward to catching up everyday on what else he is getting into. So yes, there are and will be new folks joining in on the wonderful news that is ONCI.
Sorry, just needed to took up, click and read.
Was There A Meeting with FORD?
PER THE 10Q,,,,,,,this seems to be a problem. Wage expense is over 90% of the net loss for both ending periods?
and (iii) wage expenses of $8,768,449 and $8,887,291 for three and six months ended April 30, 2017, respectively.
Net Loss
Our net loss for the three and six months ended April 30, 2017 was $9,647,118 and $10,625,937, respectively.
ALSO PER 10Q:
Plan of Operation
As of April 30, 2017 we had a working capital deficiency of $2,309,397, have not generated revenue, and have an accumulated deficit of $15,379,416.
Our auditors have issued a going concern opinion. This means that our auditors believe there is substantial doubt that we can continue as an on-going business for the next twelve months unless we obtain additional capital to pay our bills. This is because we have not generated any revenues or profits.
We have only four officers and directors. They are responsible for our managerial and organizational structure which will include preparation of disclosure and accounting controls under the Sarbanes Oxley Act of 2002. When these controls are implemented, they will be responsible for the administration of the controls. Should they not have sufficient experience, they may be incapable of creating and implementing the controls which may cause us to be subject to sanctions and fines by the SEC which ultimately could cause you to lose your investment.
I imagine we will all be able to test whether it's possible,,soon enough.
Let's just hope Mr. Howe, III and whomever is on the Board will ensure all of the shareholders who are seeing this through are justly rewarded. Although he did go to Auburn,,,just kidding,,,I graduated from Georgia.
Just giving some perspective as to how some companies have screwed its shareholders once a settlement is negotiated (I have shares and can only hope this does not happen here. This was taken from the SFOR ihub board)
"Here's some DD for new share holders that don't know the history of Reverse splits with SFOR. 3 in less than two years, and all with the CEO saying no RS. What is worse in my mind is the last RS was done after Kay knew there would be a settlement from Microsoft. Instead of rewarding his share holders(some who had been through to RSs already)he wipes them out. There was no need for that RS other than wiping out the current share holders. At the same time they raised the AS from 3 billion to five billion! Why? Because they new 2 billion were going to be dumped on the market and the AS would be depleted. Due some real DD and look into the names and connections of the people who were given shares for loans prior to the last RS and announcement of the Microsoft deal. SFOR has done nothing ever with the share holders interest in mind."
We can only hope that our CEO and Board allow us to share in the rewards once a settlement is negotiated.
My accountant is working with my broker but the broker is saying that should the $100k be rolled into another account, the broker is required, by tax laws, to immediately take out $20k for tax. We are now trying to determine what happens next year should I leave the $ in my retirement account.
Hey Shotsky, I am not sure you will be able to put all of it into your rollover IRA. I just accidentally used my IRA account to purchase a load of stock which went from $.03 to $1.04. I have three accounts with this particular broker and didn't mean to place the purchase into that account. But anyway, I got a call from my broker explaining that I was only allowed to put up to $6,500 into that account annually. I am going through some difficulties now as the government wants 20% of that overage. I am not sure how a 401k rollover IRA will handle this but my accountant is trying to get it all put into one of my other accounts immediately.
Sorry, apparently my last post has been addressed earlier.
I believe this will take place Tomorrow!
PLEASE TAKE NOTICE that pursuant to 37 C.F.R. § 42.53(d)(4), Petitioner Cisco Systems, Inc., will take the deposition of Patent Owner’s declarant, Mr. Scott M. Nettles, Ph.D., upon oral examination as follows: Date: Time: June 30, 2017 9:00 a.m.
156 Fifth Avenue, Suite 904 New York, NY 10010 The deposition will be recorded by stenographic means by a court reporter licensed to administer oaths.
In accordance with 37 C.F.R. § 42.53(d)(1), the parties have conferred and have agreed upon this date and time for Mr. Nettles deposition.
Respectfully submitted, BAKER BOTTS L.L.P. /Wayne O. Stacy/ Wayne Stacy Reg. No. 45,125 Lead Counsel Case IPR2016-01744 U.S. Patent No. 7,941,822
Probably pretty close. There are 2080 working hrs in a year and trial is scheduled for August, 2018. I imagine if a settle comes prior to trial,,,those hours may be correct.
This could be very interesting Evilbean!
Here is the ARRIS 10Q refered by Evilbean,,,Dated September, 2015
ChanBond v. MSOs, C.A. 15-cv-00848, et al, District of Delaware (RGA). On September 21, 2015, ChanBond filed suit against several MSOs alleging infringement of three US Patents. The complaint requests unspecified damages for infringement and injunction against future infringement. To date, no evidence of infringement or damages has been introduced. It is premature to assess the likelihood of an unfavorable outcome. In the event of an unfavorable outcome, ARRIS may be required to indemnify the MSOs and/or pay damages for utilizing certain technology.Here is the ARRIS 10Q refered,,,dated September, 2015:
I would have no clue. Sorry
Warrant coverage is a key term in venture debt. It is used, along with some other data, to determine the number of shares, and therefore the amount of dilution, associated with a particular investment or warrant issuance. Warrant coverage is expressed as a percent of the investment amount NOT a percent of the company.
I have no idea but I would bet they would for the Top Dogs in this fight? Just as an FYI on Warrants
Stock warrants are a common component of venture debt, and while typically small in relation to the other overarching economics, they are important because they have to do with the cap table, which we all know is a zero sum game. They also can be confusing because they have a unique lexicon, and what information is on the web about warrants focuses more on the legal and tax ramifications rather than the practical.
First, the definition: a warrant is a security whereby the holder, almost always an investor (stock options are for employees, warrants are for investors – they get different tax treatment), has the option, but not the requirement, to purchase a company’s stock at some point in the future at a price that is set when the warrant is initially issued. It works just like a stock option, but again, has its own vocabulary.
Below is a phrase you might see in a typical venture debt term sheet, including our own. We’ll dissect it, and then give an example.
“Warrant coverage of 10% in Series A shares at a pre-money valuation of 5.0x ARR. The warrant will expire after 10 years.”
Warrant coverage is a key term in venture debt. It is used, along with some other data, to determine the number of shares, and therefore the amount of dilution, associated with a particular investment or warrant issuance. Warrant coverage is expressed as a percent of the investment amount NOT a percent of the company. As we will describe below, it’s useful to think of warrant coverage in terms of dollars first: 10% coverage on a $3,000,000 loan is $300,000 worth of warrants. How many shares that is, and at what price they can be acquired, is determined by the Strike Price. In venture lending, 5% to 20% coverage is typical and negotiated for each transaction.
The strike price is set when the warrant is issued and typically fixed for the life of the warrant. The strike price, expressed as the price per share, can be set to literally anything and is simply part of the negotiation and/or nature of the investment and role the warrant is filling. It can be set out-of-the-money (above the current fair value), at-the-money (at current valuation), or in-the-money (below current fair value). Another common pricing methodology is what is called “penny warrants”. Literally, the strike price is set at $0.01, and is typically used when a valuation cannot be agreed to. But do note that the strike price matters greatly in the value of the warrant (see Black-Scholes for more on this), and that a warrant for more shares at an out-of-the-money strike is not worth the same as a warrant for fewer shares at an in-the-money strike. At-the-money or penny warrants are the most common in venture debt.
Warrants can be for any class of stock, so the warrant will specifically state what security it is for, be it common, Series A preferred shares, etc. The warrant will share the terms of the class once exercised. If not yet exercised, however, warrants do not carry any liquidation preferences since no dollars have been invested.
Warrants always have an expiration date and 5 or 10 years is the most common. The warrants have no value after the expiration date, so the investor needs to decide at that point if they want to exercise (buy the shares by writing the company a check), or simply let them expire.
Let’s suppose in our example above that the investment was for $3 million, so at 10% coverage, the warrant would give the investor the right to purchase $300,000 worth of the company’s Series A stock. If the company was on a $5 million ARR run rate, the pre-money valuation would be $25 million. If the company had 12.5 million fully diluted shares, the price per share would be $2.00 ($25 million/12.5 million). Therefore, the investor has the option to buy 150,000 Series A shares at some point in the future at $2.00. We also know that this warrant is worth 1.2% of the company (150k / 12.5 million). As a practical matter, almost all investors will only exercise at the point of a liquidity event, or at expiration.