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The main point, for our new poster...
New?
Yeah. Right.
The big claim on the part of Brad was that RSMI was "invited" to submit a proposal by the GSA. For starting DD, find out if that is the way that the GSA does business.
Actually, it is. Pretty much every government procurement is in the form of a Request for Proposal (RFP) typically entitled "Invitation to Bid".
So, it is indeed true that the GSA invited RIM to bid on the work, but they also invited pretty much everyone in the free world.
I pointed this out long ago (though few listened). It's just another example of the history of deception by this company.
The word I get from the execs is this could happen anytime soon.
So, you would have us believe that a former contract employee is in constant contact with executives and they discuss funding with you?
Right.
Since you are obviously plugged into the thinking of "the execs", perhaps you could tell us what form this financing will take.It clearly can't be equity financing, since the company has no equity. It can't be secured by the IP since the IP is currently already used as security for the lenders to whom RIM is in default. There are no more shares to issue, so it can't even be dilutive death-spiral instruments.
So, how will this financing be structured? Please tell us.
The rim semi offices have been locked but all the IP is secure and sitting pretty.
What you seem to be missing is that RIM no longer possesses title to the IP.
I've been watching the installation of the new power distribution system for the XT5 out of my office window over the last several months (I work at ORNL). An entire new substation was installed, and the peak power consumption will be something like 7MW. Definitely an impressive system.
All I am saying is that RQAM demodulation worked in software simulation and in fpga.
Perhaps you can tell us how this revolutionary RQAM demodulation differs from the previous, but still revolutionary offset-QAM methodology of Embarq, or from the previous, but still revolutionary spread-spectrum methodology of PowerStream, or the previous, but still revolutionary soliton wave methodology of Cu@OCx.
While you are at it, maybe you can tell us why all of those previous, but still revolutionary methodologies were abandoned and written off as worthless, and why the IP associated with the current and still revolutionary RQAM methodology has not attracted any attention from the industry...
You claim to have an "insider", but I bet you can't name the fpga platform we used or the verification suite.
You weren't asking me. However, I can tell you which FPGA platform was photoshopped with the RIM logo when they published their bogus photos. It was an Altera Excalibur.
Does that count?
BTW, your timing is impeccable. Just when all hope is lost, a "former employee" shows up saying that the technology is real, and is just a funding package away.
P. T. Barnum was right...
There will be no sale - at least in terms of sale of assets since there are no assets. People keep talking about the patents and IP, but those are all held as security for the lenders to whom RIM is in default. Those lenders, having title to the patents and IP, may try to sell them, but given the fact that no working product was ever produced, I think it is a fair assessment to say that they have no technical merit and are worthless. Even if they had some value, shareholders wouldn't see the first cent, since RIM and it's shareholders have no claim to the title to the patents.
I don't see anyone buying the shell either. There is too much debt associated with it. While the shell can be bought for a mere $400,000, that shell comes with total liabilities of nearly $8 million. Nobody is going to assume $8 million in liability for a shell with no assets whatsoever. Even if the liabilities could be settled for 10 cents on the dollar, you're still talking about $1.2 million for a worthless shell. Ain't gonna happen.
RIM will be delisted soon, and will file for bankruptcy soon too. The company will die a quiet death, and Ray and Brad will retire on the money that they stole from you. The SEC might pick up the gauntlet, and with any luck, Ray, Brad and people like Hightower will be stripped of their gains and maybe even do time, but I doubt it. Right now, the SEC has much bigger fish to fry.
Some more SEC fodder...
For those of you who are in contact with the SEC, here's another tidbit that you might share with them. A couple of years ago, RIM quit putting the Executive Compensation section in the 10-K with the understanding that Executive Compensation would be included in the SHM proxy. Well, it wasn't, and unless they have another SHM with a legal proxy, they are in violation of SEC requirements for reporting Executive Compensation.
I can't imagine why they would want to hide their executive compensation info...
About .0006 of my insight comes from this board....
That just might explain why you have lost your shirt in this stock...
We've seen many postings on both boards speculating about a possible financing package of "major" proportions being close at hand...
Putting aside for the moment the fact that this claim has been made relentlessly for going on 10 years now, let's look at the facts, shall we?
The company has issued all of its authorized shares. A financing package has to be secured by something. If there are no shares to issue in order to secure funding, the only option is equity financing (i.e. giving away part of the company). But, what has the company to offer for equity financing? The answer is nothing. They only thing they have that is of claimed value is the IP, and that is already put up as security for previous death-spiral packages. In short, they have no title to anything of value for which to secure financing. None. Nothing.
As for destiny's scenario that some company would place a 30 million dollar order with a 10 million down payment, well, the reality is that the scenario is pure and utter fantasy. Rim has no manufacturable or saleable product. They have a demonstrated history of not being able to deliver a product, despite repeated claims that they would. The filings clearly show that they have a habit of spending many more times as much money on executive compensation than they do on R&D. They have no cash flow, and when they have gotten cash flow in the past, they have demonstrated sheer and utter incompetence in managing it.
Furthermore, I defy you to offer a single example of a company receiving an order, with a substantial cash down payment, for a semiconductor product that is not even in silicon. It just doesn't happen. The industry moves much too fast. It takes at least 9 months to a year to bring a complex semiconductor design to market under the very best of circumstances. Nobody in their right mind would tie up capital in the promise of a possible future product from a pink sheet company with a sordid history of dismal failure.
It ain't gonna happen. Sadly, people like destiny seem to be able to convince people like you that there is still a glimmer of hope with these outrageous fantasies. That is truly sad.
I DO believe in one thing, though. I am convinced that we are only a matter of either "days" or at most, a few "weeks" away from significant, major announcements that will, once and for all, answer the questions as to the validity (or not) of everything concerning that which is known as "Rim Semiconductor."
Not much of a reach there. The company is broke, in default, and has no means to raise more money. You will have your answer soon.
I was referring specifically to "contrarian" who has willingly invested in this company knowing full well that it is a scam. I have the utmost sympathy for people like you and WHP who lost a bundle while investing in good faith. However, I have little sympathy for people who try to play the bounces of a stock that is a scam, only seeking to make a quick buck.
Be careful, apparently people are complaining to the mods about using names that are already well-known and have been used hundreds of times in the past. I had a post deleted earlier that had 427's first name in it and received a stern warning from the admin people about a serious privacy violation...
I said clearly that it was my opinion. I based that opinion on all of the false information he posted here, his claims to non-existent insider information, and his continued attacks on anyone critical of the company. I appreciate your opinion but allow me to have mine.
427 is not part of scaqm imo..he was scammed
My opinion is different than yours. Hopefully, the law will sort out those who are guilty and they'll pay an appropriate price...
You gonna tell him that you knew this was a scam for years but chose to invest anyway?
You have only yourself and your greed to blame for your investments in this company for the last 5 years.
You only contemplated the "I misunderstood" excuse close to a year later when it became apparent to me that the FPGA was indeed *not* done, and I called you down on it.
In response to your private mail, I was incorrect with the statement above. It was closer to 2 years before you acknowledged that you "misunderstood" what Ketch said.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=4746103
Lortap: And look at my posts shortly after where I said I misunderstood.
That's not correct. You only contemplated the "I misunderstood" excuse close to a year later when it became apparent to me that the FPGA was indeed *not* done, and I called you down on it.
Slowly losing patience and goodwill.
Well, at least you still have the supermodel girlfriend and the Ferrari...
I crack myself up...
Nevertheless I believe that they have the technology and I also believe in the telcordia report and the potential supply agreements in the making. You can't fool all of the people all of the time.
No, but apparently Ray and Brad have no trouble fooling you...
Really? You love a stock that is down 99%.
Correction - from it's all-time high, this stock has lost 99% of its value more than three times. To be more precise, it has lost 99.999% of its value.
Yet, we still have people claiming that they are making money. Of course, they are probably on other forums claiming that they date supermodels and drive Ferraris.
I hate to agree with you, but I've felt that taking the company private has always been more than just a possibility. The fact is the chipset exists (it was built, trashed and new version being built.
Horsehockey.
This company will never go private. Ketch and Ray cannot pad their pockets on the backs of shareholders in a private company.
The single most telling fact that no viable technology exists is that nobody has snatched this company up. A controlling interest can be had for a measly few hundred thousand, which represents a few hours worth of R&D budget for the big players. If Brad was telling the truth about this technology and about his discussions with the big boys, one of the big boys would without a doubt snatch this company up for the cost of what would amount to the coffee budget.
Well, at least we now know that this stock can legally trade at below par value. We have finally reached the point where this stock is literally worth less than the paper it is printed on.
Best of luck to those of you who are pursuing legal action. I sincerely hope that Ray and Brad - as well as their paid shills - get an opportunity to share a prison shower with "bubba".
come on cobra/other longs. defend the company now at .004..youse were very talkative at .20-31.00
The only thing sleazier than the constant pumping by the old timer longs is the on-and-off pumping by people who trade in and out of this stock.
KWIM?
Par value...
I seem to recall that this company's stock has a par value of $0.001. My understanding is that, depending on the laws of the state of incorporation, it may not be permitted to trade below par value. Does anyone know for sure? If true, there will undoubtedly be an emergency reverse split in the near future...
You have always stated that standards are more important than anything else to drive revenue. Well that could be the issue. I have not a clue what the issue really is.
I don't remember saying that. I do remember saying that a non-compliant technology has no hope of widespread acceptance.
I am baffled as to why you would ask for convincing evidence that this company is not legitimate, and then ignore that evidence completely.
As I already said, it is people like you who allow people like Ray and Brad to keep this scam operating...
I believe that the company must get substantial orders for volume shipments soon or they will cease to exist - soon.
You seem to be missing a fundamental piece of the picture. There is no product. As such, there can be no orders. Even if there is an FPGA, there will still be no orders. They would still need to fab a chip, and they don't have the money for that.
I am sure that you will blissfully ignore this convincing argument too...
I have not seen any convincing arguments on this board that the company's PR and president's letter which state 40 and 40+ Mbps at 5500' feet was not actually achieved as reported.
Here's a convincing argument. This is the third completely different technology for which the company has made similar claims. First, there was Cu@OCX, and it was touted as the fastest DSL technology in the world. However, it quietly died without so much as a whimper. Then came the PowerStream-based technology that was similarly "disruptive" according to the company. Sadly, it also turned out to be bogus.
Now, we are on the third, completely different, technology, and the company is making the same kinds of claims.
Do you not see the convincing argument? The company lied about Cu@OCX, they lied about PowerStream, and now they are making the same claims for Cupria (and have been for several years without any tangible results).
Even if you make the extremely dubious stipulation that the technology may actually exist, then it is in the hands of an absolutely inept management team.
Think about it. They claim to have the (their third) solution to the most pressing problem for nearly every telecom (the ability to deliver huge bandwidth to the masses) yet they can't sell it, or raise money without resorting to sleazy death-spiral deals.
Think about this, while you're at it. This stock currently has a market cap of under $5 million. If they had what they claim to have, one of the big players could buy the company outright for about a day's worth of R&D budget.
The bottom line is this. The company instists that the technology works as claimed, but they have done so in the past twice for two completely different technologies. Sure, they say it's the real deal this time, but still nobody is interested. Why do you suppose that is?
This company is nothing but a money making machine for Ray and Brad. People like you make it possible for them to continue.
My sense is you'll never make money on a consistent basis...
MAybe not. But there's nothing stopping him from pretending he is making a killing on an internet stock board, right?
LOL
I crack myself up.
it is absolutely amazing that some of you folks' are more concerned with goldrusher's credibility than rim's
That's been the mantra here for years. There are a select few whose only purpose here seems to be to attempt to discredit people who are both critical of the company and can tell a compelling story. It is a tired tactic that may have once been effective, but just doesn't work anymore.
While I understand why you are confused that these people try to nit-pick and parse every word of the critics here, yet are never questioning of the company's motives, you need to understand that there is only one logical conclusion. These people are not investors. They are company shills. There is no other reasonable explanation.
These people have been here from the beginning, singing the company's praises, and trying to squash and discredit any naysayers. In that time period of many years, the company has produced nothing, taken fat salaries and highly compensated a large number of "consultants".
Do the math.
This company - from an investment standpoint - has absolutely no redeeming qualities. No revenues from the various supposedly "disruptive" technologies that they have harped over the years, empty claims of "contracts" that produce no revenue, promise after promise for products and revenue that year after year go unfulfilled, a share count that will soon be 4 billion, a share price that has lost 99+% of its value and constant overt deception of shareholders. Every single measure of a stock's potential value is through the floor. Massively negative ROI, no earning, and long history of no earnings, no money, huge debt, no product, no management effectiveness, and absolutely no indicatation that this trend will change.
It is clear. People who tout the virtues of this stock can only have one motive, and it has nothing to do with the value of this stock as an investment.
I would have thought these things were obvious by now.
We need additional shares authorized so that we will have shares available to meet our legal obligations to the holders of these existing convertible securities.
FOr those of you who have been filing complaints with the SEC, this may well be one of the most significant ones. By their own admission, the company entered into legal obligations that cannot be met without more than quadrupling the shares. That is, at least in my mind, a clear violation of fiduciary responsibility.
Brad and Ray have not done a dam thing to increase share holder value!!! I wish I were making 250K per year as they are.
Brad is making $400K plus bonuses.
I will vote NO!!!
It won't matter. The proxy statement showed that the company officers and UTEK account for nearly 40% of the vote. You can bet the mortgage that they have made sure that they have control over another 10% or so.
You don't have a vote - at least not one that will make a difference.
Never did.
IMO Brad and Ray need to step down. AS they have not brought any shareholders increased value.
I can only hope that you are starting to see that Brad and Ray never had any intention of bringing anything of value to shareholders. This is their very own cash cow. Pure and simple.
it was probably just a few lines of code saved on an old floppy disk - to justify it legally.
It doesn't matter what it was. Everyone needs to clearly understand that RIM immediately wrote this acquired "technology" down as worthless. Now, Ketch added some slimy, and deceptive words about this in his President's letter, but in the eyes of the SEC, and in accordance with reporting requirements, the acquired technology has been declared to the world in the most official and unambiguous way possible to be completely worthless.
This will end soon. They already have nearly all of the authorized shares committed. There just aren't enough shares left to make any more sleazy deals. I suppose they will ask for a reverse split at the SHM, but I think we all know that will just be putting off the inevitable and prolonging the agony.
un-freaking-believable...
Why would we write off an asset that we just acquired? The answer is not, “because it is has no value”! The answer is that we cannot conclusively determine exactly what the value is, so the conservative thing to do is to value it at nothing.
Do they think shareholders are idiots? When you write down an asset to -0-, you are declaring to the SEC and to shareholders officially and unequivocally that it has a value to your company of -0-.
The man has no shame.
Tim
This is interesting:
On January 14, 2008, the Company received a demand letter on behalf of an employee of a non-profit corporation. The employee contends that he was jointly employed by the non-profit corporation and the Company, and that the Company is liable to him for unpaid wages of approximately $85,000 and additional damages.
Clearly the non-profit is IPSL SIG, and the employee is Narin. This explains the lack of a meeting and keynote address... Looks like IPSL SIG is dead.
No real surprise there...
Not at all.
I posted this two years ago. I have added new, relevant information where needed, and updated the dates and timeframes.
NVEI began (I think) as a 3-D movie company. They also dabbled in other snake-oil endeavors such as CD-based business cards. At some point, Ray got introduced to Al Blevins and Mike Sheppard, who claimed to have a remarkable broadband transmission technology. Rather than market this technology to telecom equipment manufacturers, they were introduced by Ivan Berkowitz (I think) to Ray and his little 3-D movie company in 1999. Al and Mike thought they had something big. I think that Ray and Al and Mike actually sincerely thought that they could bring the original Cu@OCx to market. You must *really* have an ego to think that three people who have no formal education in the science of DSL, no experience in marketing broadband technology and no success managing a public company could produce something much better than the best minds in the world can do. HOwever, from what I have heard, Ray's ego was up to the task. They somehow finagled Lucent into doing a test and releasing the "results". The PRs were stunning - Lucent had verified that this technology worked as advertised.
Or so we thought.
The stock price shot up, and New Visual ENtertainment was on the map. Ray was fat and happy. A mysterious device appeared at the SHM that was supposedly a "prototype", and shareholders were cautioned not to touch it. The hype was unreal.
But, physics got in the way of their plans and it turned out that Cu@OCx was a bust. It just didn't work. That didn't stop them from issuing PRs announcing "progress" and hiring of Fleishmann-Hillard, Quint and others. But in the end, Cu@OCx simply did not work, despite all the hype. The Lucent testing PRs were pulled. All evidence of the testing seemed to completely disappear, and Lucent was never spoken of by the company again. This did not stop the company from keeping up the appearance of having a "disruptive" technology, though. The public charade continued with period Persident's letters and PRs touting "progress".
But, Ray was in a predicament. He was pulling down a nice $250,000 salary plus bonuses for doing nothing, and did not want to give it up. Remember, Ray has absolutely *no* telecom or DSL experience. He had a publicly traded company that was listed as being in the telecom business. As long as he could keep investors interested and sell stock, he could keep up his salary without doing any actual work. But he needed a hook. Cu@OCx was dead, and too many people (Lucent) knew it, though it had not yet been publicly disclosed that CU@OCx was a scam.
Enter ANI.
They had a technology on the drawing boards (PowerStream) but didn't have the funds to complete it. Ray had access to money, but had no technology. It was a match made in heaven. So, Ray and ANI ink a deal. Here is where I think the dishonesty really began. I believe that Ray and Propp both knew full well that PowerStream could never be used over phone lines competitively. Look at the ANI website. The very best that PowerStream can do is 5Mbps according to their data. Yet, NVEI made claims that the PowerStream-based product could do over 100 Mbps. Furthermore, the development agreement between ANI and NVEI seemed to clearly indicate that PowerStream was a mature, working technology. Only over a year later did we find out that PowerStream was nowhere near completed at the time.
Now, think about this. First Cu@OCx was touted as being far superior to the nearest competition, and it was developed by two guys with no experience in the field. Now, Cu@OCx had been abandoned and NVEI was claiming that PowerStream-based Embarq was, once again, far superior to anything on the market, even though the ANI web site claims that PowerStream can only do 5Mbps. Bottom line is that the company publicly claimed to have developed two completely different technologies that far exceeded anything on the market. The first one was proven to be a bust, but miraculously, the "new" one was just as good. Yeah, that's likely...
But it was a telecommunications technology, complete with pedigreed industry" icons" for PR fodder and they could sure make it look like they were trying to make it work. So Ray promises to fund the completion of PowerStream and Propp in turn agrees to act like he is working on Embarq at the same time. So, Ray pays off all of ANI's debt and gives them a big hunk of cash - a total of almost $6 million. Propp and his gang busily start the job of finishing PowerStream. Meanwhile, Ray continues to lead investors down the garden path, sell wallpaper and collect his fat checks and bonused. NVEI makes public statements that an FPGA prototype will be released by the end of 2002 along with a promise of revenues. (this is important, as you will see) He brings Cooper on Board, but Cooper has integrity and sees right through the scam and departs as CEO just a few months later. Immediately following Cooper's departure as CEO, NVEI fails to deliver the FPGA prototype or any revenues as promised.
Enter Ketch. This guy has never held a job for more than a couple of years, but he has a telecom pedigree. That looks good on the "corporate bio" and investor fact sheet. Plus, Ketch gets to also pull down a fat salary plus bonuses for doing nothing. Of course, he has to have zero integrity to play along, but I know this is so, since he told me a bald-faced lie on the telephone without even flinching. So, Ketch is perfect for the figurehead who helps perpetuate the scam.
So, now you have Ray raising the bucks, and Ketch writing nice little "Dispatches from Supercomm" and "President's Letter" while Propp and his gang are busily working on PowerStream.
In the fall of 2003, PowerStream is done. A PR to that effect is released. Remember, all along, we investors were led to believe that PowerStream was done a long time before, when NVEI licensed it from ANI. Obviously, this was not so. Anyway, now ANI has their FPGA, and the "Technical Update" comes out that says Embarq is composed of 80% PowerStream. Remember that PowerStream can only do 5 Mbps, according to the ANI web site. Yet, NVEI is making outrageous claims of throughput of 20 times what PowerStream can do, and investors are gobbling it up. Once again, an FPGA prototype and revenues are promised for the end of 2003. The charade continues. Propp has no intention of actually trying to make Embarq work since he knows it won't work. But he just got his project paid for by Ray.
Of course, 2003 comes and goes without an FPGA prototype or revenues - just like the year before. NVEI does announce the release of a prototype, but it is computer based, despite two posters here saying that the company told them that the "chip was done, had 3 million gates and was the size of a fingernail". Two potential customers wer supposedly evaluating it. Needless to say, here we are five years later and those evaluating companies were never heard from.
Meanwhile, we have the film. The books only show about half a million in revenue, but some of the details of the distribution agreement are still secret and always will be, and all of the money went through TSP, which is unauditable. Sweet deal. John Howell made many statements about potential revenue in the $40 million range, only to have the company "reiterate" a $20 million target. In the end, the movie only returned a couple hundred thousand - at least above board.
So, here we are, 7 years after Cu@OCx, and Ray has taken home over $4 million over the table, and God only knows how much under the table with all of those shady share giveaway deals. Plus the many millions in the "Compensatory Elements of Stock Issuance" catagory - who know where all of that money went. $1 million raised four years ago for technology development was never spent on R&D, not a penny, but Ray and Ketch got paid anyway. Three years ago, they signed a $3.5 million death spiral financing deal, but only spent $366,000 on R&D. Meanwhile, Ketch gets a $70,000 bonus.
But now, Propp and ANI have moved on to their business after you and other shareholders funded his product. 3 years have gone by since the first promise of an FPGA prototype and revenues, and nothing has yet been delivered. Investors are getting anxious, the stock price is plummeting and Ray and Brad's gravy train is faultering. Ray needs another hook.
Enter HelloSoft. A secret deal is signed with secret phases defined and a lot of PR hullabaloo is issued. Interestingly, none of the PRs offered any details about exactly what HelloSoft was doing. Nonetheless, yet another promise (the third one) is made that an FPGA prototype will be released by year end along with revenues. Remember that this happened twice before, and no FPGA prototype was ever produced. No doubt that Ray and Brad believed that they needed to come up with something convincing. So, they announce the release of an FPGA prototype in December. However, they also tell us that we can't actually see one and that only two select customers will be given one. They announce "availability" of an unavailable product. They also produce a spiffy PDF flyer with details about their new "product". It had a professional-looking image of a chip in the corner, and a picture of an impressive circuit board with an arrow pointing to a chip, identifying it as their FPGA.
Astonishingly, we found out last month that the entire investment in the ANI PowerStream technology was written off as worthless. The PowerStream-based technology had been abandoned. Think about this. First, Cu@OCX was touted as the fastest broadband technology in thew world. Later it was found to be worthless and abandoned. Later, Embarq was touted as the fastest broadband technology in the world. We now know that it was abandoned as worthless. For a third time, they would have us believe that they have developed the fastest broadband technology in the world. People sure are gullible.
Un-freaking-believable.
I guess that they did not anticipate the tenacity of yours truly. I thought that the fancy picture of the chip, emblazoned with the EMbarq logo looked familiar, so I looked around. As an AMD investor, I had a hunch. The picture was, in fact, a stolen image from AMD and was a picture of AMD's very successful Opteron server chip. The offending picture was hastily removed from NVEI's web site shortly after I revealed their deception with my posts here.
I was also dubious about the picture of the circuit board in the flyer. I looked closely at the board, and it seemed clear to me that it had "Actiontec" engraved into the board. With the help of another skeptic, we found a photo of an *identical* board that was the guts of an Actiontec wireless DSL modem. Clearly, this company had intended to deceive us into thinking this was a picture of their own work, when in actuality, it was nothing more than a picture of the insides of a run-of-the-mill modem. Shortly after I revealed this deception here, the flyer was revamped to replace the bogus modem board with a picture of a different board.
It is abundantly clear to me that this latest promise to release an FPGA was just as bogus as the first two. This company pirated images from AMD and took pictures of modem boards and tried to pass them off as their own FPGA. The fact that these images were hastily removed from their site is proof-positive. I still have copies of the old bogus images if anyone is interested - as well as links that prove the images were bogus ripoffs.
Every assertion I have made here is dramatically supported by fact. Although I have speculated as to the motives for this bizarre littany of events, everything in this post actually happened.
Anyway, now HelloSoft is out of the picture, and the company claims to have an FPGA. They have claimed to have purchase orders, and claim that the product is once again being tested.
Which brings us to today. There are currently over half a billion shares issued, and that is following a 4:1 reverse split. Shareholders were forced to allow the number of authorized shares to increase to just under a billion. This company has raised over $70 million in the last 4 years, but in that same time period has spent almost nothing on R&D, while spending almost $5 million on salaries. Anyone wonder where the rest of the money went? I challenge *anyone* to find any semiconductor company in the history of semiconductors that has spent five times as much on executive compensation as they have on R&D. Or one that ahs three times announced the independent development of the worlds fastest technology while simultaneously abandoning the previously announced technologies as worthless. Its ludicrous.
Remember that this company is on its third disruptive technology. The first two turned out to be bogus, but they want you to trust them this time.
Each year since 2000 has brought the promise of a shipping product and revenue, and yet another year has passed with neither. The fact that anyone actually believes in this company is astonishing.
Anyway, I have written far more than I intended to. There you have it.
not exactly''''A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. It is a more formal alternative to a gentlemen's agreement, but in some cases, depending on the exact wording, lacks the binding power of a contract.
You could have just posted the link...
http://en.wikipedia.org/wiki/Memorandum_of_understanding
Are you crazy?
MOU is a contract.
No.
It's not.
An MOU is specifically used when a contract is not desired. It is specifically not a contract and is almost never legally binding.
That why they used the term MOU.
Look it up.
"I am delighted to work with the talented team New Visual has assembled and look forward to the completion and commercialization of this exciting technology."
Dr. David Greaves
"Adaptive Networks is very excited to be working with
New Visual on the development of their extended-range high-speed copper wire
transmission technology. The approach we are taking is unique and exploits key
characteristics of the medium to yield significantly enhanced performance over
existing technologies. We are creating a commercially viable technology with New
Visual that builds on what we have learned from our proven technology for
communications over power lines, a noisy and distorted media."
Dr. Michael Propp
I have stated before that I do hold the company to the same standard when I talk to them.
Hogwash. If you did, you would have been outraged long ago. You are not being honest with yourself - either about your holding the company accountable, or your bizarre obsession with trying to trap me.
You are trying to discredit him because he is associated with Rim.
Once again, you are putting words in my mouth. Just because you demand that it is true does not make it so. I am saying that his association with Rim, regardless of his character, does not mean anything, since his association is paid for by Rim.
Well, maybe he knows things you don't. And because of his background he deserves the benefit of the doubt.
LOL. More of the thinly veiled hints of great and wonderful secrets. One could have said the same thing about Greaves, Propp, and the whole list that I posted previously. But then, that was my point.
The second statement infers that they named a price high enough that he would give his services to a company of ill repute.
Actually, I think you meant "implies". You know - semantic accuracy and all that. You did the inferring.
As for the ill-repute, well, you know that I believe that this company is a company of ill-repute. In fact, I think it meets the very definition. Look at the history. Deception about repeatedly abandoning existing "disruptive" technologies for all-new "disruptive" technologies. Deception about NASDAQ listing and reverse splits. Death spiral financing. Off-shore stock sales. Lily Beter. Pirated and doctored photos. Endless promises of revenues that never materialize. Exorbitant executive compensation and bonuses. Lies about deferred salaries. More pirated and doctored photos. Lies about "chip the size of a fingernail with 3 million gates". The list goes on and on.
I think the reasonable assumption of "ill-repute" has been established.
The reason I did it privately, is that I prefer not hashing over such things in the public forum. It's about you accepting responsibility for what you say, and that is more of a private conversation. It would be interesting to see how Mr.Swope would read your comment. Or if someone said it about you, how would you react.
I accept full responsibility for what I say. You, however, have accepted no responsibility for your assumptions of what you think I meant.
As for how I would react, well let me remind you of what the people who share your beliefs about this company have done. Remember when I received e-mails wishing death for my sick daughter? How about when GrooveMaster tried to get me fired? Remember that?
Swopes chose to associate himself with a public company that, at best, has a seriously checkered past. That much is undeniable. I have no idea why he chose to do so, but he *is* getting paid handsomely. Feel free to infer whatever else you wish.
That's all I have to say on this subject. If you continue to "hound" me on this issue, I will be forced to place you back on ignore.