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You mean an extension of the loan? I guess you're right that there's some uncertainty... but the loan has been extended for months now... Seems clear that the best way for the bank to get a return on these funds is to give these very legitimate extensions.
Oh snap.. That is worth a little pop in price then!
I don't think any of us doubt that Nick is 'legit'... but if he's out there talking with billionaires, it's clear that he's no lightweight himself.
Still grateful I bought in when I did for what I did. Found this one on breakout boards one day about a year ago. Thank you IHUB!
Thank you!
That is interesting, and should generate some interest over here... Probably the reason for the jump today.
If it is, it really shows how thin the ask is.. Slightest positive can move this in a big way because no one is selling anything of significance.
GLTA!
Interesting! I don't have twitter access. Care to post any relevant items from the discussion?
Good afternoon Iglow! I just unblocked you after about a year, and now I wonder what I've been missing out on! thanks for your recent posts.
LOL, anyway, I think if we can get someone to file for us, it doesn't even need to be 'pro-bono'. We could pay a few bucks $500-$1000 for a few hours time... and/or I'm sure many of us would be willing to sign away 1% of what we collect to a lawyer who would just file a basic amicus brief or motion to consider or whatever is needed. Potentially a big gain for just a few hours work and no strings attached with a potentially big payoff.
I know you say we shouldn't use a cheap craigslist lawyer.. but a lawyer is a lawyer in my opinion. It seems like whatever we'd lose by not getting "the best", we'd gain in getting SOME type of voice before all this goes down and the money goes to the Caymans... So I am all for getting someone to help us out. If you think your Harvard person could make an impact.. I am all for it.
As far as your dislike for scammers... I wonder how you feel about the people we have this case against. Seems like there are scammers all around... but clearly anyone who invested hard-earned money in the idea of there being value in the rule of law feels the same way you do. None of us here like scammers. Hopefully we can all work together to stop them.
agree with all this... but then it would seem easy enough to tweet some clarification about the R/S, especially since the FINRA thing seems to be in dispute.
Doesn't really matter though.. I'm kinda hoping he doesn't clarify if the Dems are going to send out more stimulus money.. I think I'd load up on shares and I'd rather they be nice and low.
I think whoever knows that's going on is all set to take things out.. Nothing anyone has to force. Good things are happening and we're going to move as they do. If a balloon has helium in it, you don't have to force it up to the sky!
I'm just glad that this is one of the few I got in on at the ground floor. Love not having to chase.
Good luck all!
Could use some edits, but better than nothing :)
I appreciate them acknowledging that it's a long process. As long as they're working on it... it is what it is.
I'm going to have to agree with Wall Street, though.. If the reverse is really just a backup plan... it would be nice for them to be clear, especially given all of Nick's statements about R/S in the past.
To be clear, this is not a complaint. This company is going places and I am up but not selling. (Well I did sell $50 worth this morning at .0023, but I'll probably buy that back :)). As a (hopefully!) long-term holder, it doesn't necessarily matter a ton what the short-term price moves are... but I do hope that they get all the RS stuff clarified before or at facility opening so it doesn't weigh down our big run ( which would not only bring a price increase... but more importantly, would help to gain attention from the industry and make additional opportunities open up).
Have a great day all!
Great idea! If there is a cheap way to file a few things.. I'm all for it. What have we got to lose?
We raised quite a bit of money for our prior effort so I'm sure we could raise a bit if needed.
A few of the posters here have attorney family members, so I'd be interested to hear their take on whether a cost effective 'interim' solution like this is worth pursuing, or if we gain nothing from that and are just better off waiting.
GL to us!
Happy new year sir. Thanks for the post!
That takes quite a bit of conviction..... or maybe just a lot of cash.
Might I ask.. What first drew you to SNPW, and then what made you essentially want go all in? D
I agree that the ebbs and flows shouldn't be too much concern to long-term holders... but as allude to, most of us don't have the luxury of not taking anything off the table for 5 years.
Whether one is a trader or a holder or something in between, hope it works out for all of us!
On page 38/39 it says something about Bentham being able to potentially recover "as much as 5 times the amount" that was loaned. Could this be the cap?
Since it sounds like he was using this for personal expenses, anything is probably too much, but it looks to me like there is an upper ceiling. TRO is from Diedre, though, so who knows what she knows and what she's guessing on.
It's possible they're just not factoring that cap into the waterfall that was published because the recovery in that hypothetical scenario doesn't get them anywhere near 5x.
However the above details sort themselves out, it is a huge problem that Billy has created UO!IP and transferred a portion of ownership ( future licensing ) from UOIP to this new entity that he created for himself. It's also a huge problem that this loan ( capped or not) is out there since he was apparently using it for personal expenses. Looking forward to sorting this all out!
Thanks! Figured it was something like that, just checking. What % of the float would you say your group owns, and how many people...
We don't get a ton of traffic around here so it would just be interesting to know the level of interest there is 'behind the scenes'.
Have a good one!
what is 'recent new power'?
Good morning!
I have a question about these numbers in the revised waterfall. There should not be a UO!IP created to receive extra cash either way, but I am seeing the numbers a little differently and want to see if I'm on the same page, because I think I'm getting the 'net' piece of this confused.
% recovery in our revised 'worst-case', this is from page 39:
Bentham: 25%
Mishcon: 28.5%
IPNAV: 22%
___
That's a total of 75.5%
Of the rest, or remainder, 50% of that goes to CBV (12.25%)
SO, what I see there is the Unified/Chanbond remainder is 12.25% of the total settlement.
With his newly formed company, Billy takes 20% of that piece off the top. Now... for Billy to skim 20% of that to his little
UO!IP company is clearly shady and problematic... but as I read it and as the revised shows, it looks like Unified Net at the end is 9.8% of the total.
That's not great and I certainly have no desire to give Billy an extra 20% off the top (He's still a shareholder so he's going to get about half of the UOIP portion either way. There is no reason for him to take more). The thing is, this little insertion in the revised waterfall takes our % down from 12.25% to 9.8%, and I don't see the 1%. While I don't see us as 1%, the problem here to me is that, like Diedre alleges, Billy could settle for low dollar amounts, but then funnel any future licensing through UO!IP and that's where the money goes.
So in short, I read it as 10% rather than 1%.... but that it's still a problem because
# 1. Even a 20% theft is still theft, and
# 2. Because it could end up being much more than 20% going to Billy under some 'kickback' scenarios where he does a low settlement and high licensing arrangement.
Thanks for any thoughts on how I'm reading this! Hope everyone has a great 2021!
I don't think we see a squeeze without some kind of catalyst.. especially at the end of the year when there's going to be a lot of volume and therefore not impossible to cover.
I've got a (very) few shares on the bid myself.. Maybe I'll be able to pick some up!
This is not a good short in my opinion. Very binary outcomes, at least on the upside. Either we hover or creep down, or we take off in a big way.
A 1000:1 reverse split may cause a slight drop.... but not enough to justify the risk. I've mentioned this before, but I know of two companies that really took off after a R/S, and that could potentially be SNPW depending on the details, which we just don't know... and that's IF there is a R/S, which we also don't know
This is clearly 'in process' and not just some penny scam. There is a facility, with pictures, we have patents, etc.
Unless I'm on the W.W. town council and have inside info that I can sabotage this thing for years, I see no good reason to short.
The more people do, it's better for me because it will pop if something good happens.. I just don't think it's wise.
GLTA!
Good point sir, I may give that screenshot thing a try at some point.
I really like how you articulated the issues a CEO would run into and why they avoid going down the rabbit hole with folks.... I agree with everyone that I don't really want him wasting much time with it.
Have a great day everyone!
You are a bawsss! 10%. Congrats sir!
Since we're talking about it, have you gotten any emails answered in the past?
I agree that I don't think he should spend all day chatting with folks. I still think that if an email address is listed it would make sense to respond quickly, or with a pre-written something or other. My guess is that him not writing is more of a legal thing than a time thing anyway.
Since all of your emails don't get answered, what is an example of one that has been answered. Again, I've never had any answered ( I think I only wrote 3 times).
Thanks and good luck!
That's fine, but then they should not have an address there as if they'd respond.
Given that I own 1% of the Co, I would not consider myself to be among 'thousands'. It's not a big number, but I think it warrants a 15 second response. Also, it seems they've responded to others, and thirdly, it's a very legitimate question, (what date are the FAQs current as of) the answer to which would benefit everyone.
I get that they're busy and I agree that I don't want him wasting a ton of time on this.... but then I don't think they should have an email address out there.
Either way.. Holding and hoping. Merry Christmas!
Ha! You're not wrong.
Merry Christmas! :)
Looks like .0017 is about to go down.
I'd still like to know if anyone has ever gotten a response from Nick or the company. I emailed just asking about the last date the website was updated and never got a response. I've written a time or two over the last year and never heard anything. I don't think holders should be a burden and I've tried to respect Nick's time, but my question would take seconds to respond to.
Has anyone ever gotten an email response?
Thanks!
If we get a 5 cent gain from each of these... I'll be right there with you. That would make snpw a $200M company.
TBH I don't see that happening in 2021. We'll see some gains I agree... but I don't see each of those things as worth $50M.
We shall see though!
A great point I hadn't really considered... Since they can invest in the project itself, there is no reason to R/S SNPW stock to make it attractive since that's not where we'd want investment anyway.
I assume any future projects can be structured similarly. If our little SNPW holding company collects enough funds over the years, maybe we could 'self-fund' a project at some point, but at that point we wouldn't need outside investment anyway.
Pretty cool actually... how much of an investment we got that didn't dilute SNPW at all. Yes, we had to give up a good portion of the profits on this particular project.... but I'd venture to say that most of us didn't invest because of one facility anyway.. We invested with the idea of replicating this across the country and if sharing a little bit of ownership in our fist facility allows that to happen... Great!
Hopefully this Operating Permit comes soon!
I agree. I try to neither lost nor gain confidence based on the whims of the market. A few hundredths of a penny here or there aren't going to determine the fate of this company.
I know that when I was buying it had a significant effect on the price, and so I'm sure if one or two people are out there selling now it would have an impact too. I have no inside info and doubt they do either, so any movement we see now is just noise.
A meaningful move here is going to occur when something good (grand opening) or bad ( project cancel ) happens. Everything else is the whims of a person here or there affecting the price of a thinly traded stock.
GLTA!
I know the PR is positive news, but to be honest.. I had hoped that by this time we'd be announcing 5 or 10 units added each month in the UK. While adding a level 2 distributor is nice and there are no criticisms around that... it's not going to be enough to bring most of us to break-even on this thing.
I'm not clear why we're not hearing more about the UK. I hope that things are progressing but that is just hope.
I feel very good about the price here and whether we go a little lower or not because of year-end tax selling, I have every confidence that the true value is more than 1.5 cents just based on 2020- $4m and 2021- $10M. That said, those numbers are not enough to spur anything huge. Maybe they get us to a nickel or so per share, but I really hope to hear more and see more about the UK as that's where biggest potential is right now and I don't see any big breakouts without something solid from there.
GLTA
I'm not seeing any news or anything.
Why do they need to cover today?
That's a lot of shares to be short when we know that so much of the float is locked up here. We know that guy in Wyoming owns about 5%, and there are quite a few of us sitting on 1%.
I think a lot of folks got in cheap and are holding on. It's going to be tough to cover this many shares if anything good happens. 100,000. Volume is deceptively high because I imagine MMs are trading the same shares back and forth.... but I just don't think there are that many shares out there.
We'll see!
Who knows... Maybe someone is trying to trade with themselves to manipulate the price. I'm certainly not selling at these levels.
Good afternoon!
I don't see any vinegar in what I wrote... but maybe I'm missing it? I tried to be very respectful and assume the best. I don't plan to make an emotional appeal or talk about my kids because none of that stuff seems relevant. I could be single, childless, and plan to spend all the money on lotto tickets... and it shouldn't matter. What I own is what I own and I shouldn't need to make emotional appeals to enforce that.
While I'm happy to write for myself, but the whole point of this particular endeavor was to request a board seat, and I don't know if one person has enough shares to make that a legitimate request, or if a 'legitimate' request is even possible.
We know he's not going to respond to you or me or anyone else and so the goal is not to get a response... the goal is to document that we have asked for these things and he has ignored the requests, which at least removes the 'I didn't know' defense.
I'd be happy to leave your name (or anyone's) name off... or not even send at all.... this is just a draft at this point anyway.. but I'm curious about your opposition to taking a group action like this. If this is what we were going to pay a lawyer hundreds or even thousands to do... Why would we not take action for free?
What email address did you send to?
Good morning! Here is a draft of a letter to Billy. I'd be happy to send this verified delivery and delivery confirmation. At worst, it's ignored, and then perhaps that helps us to make any case we try to make later?
Thank you for thoughts on whether this is worth pursuing.
________________________________________
Billy Carter:
I am writing on behalf of a large group of (in fact, a majority of) minority shareholders in UOIP representing xxx#, xx% of shares (names and share counts attached) . We are excited about the progress and about the light at the end of the tunnel and a potential recognition of significant value on our investment. First, thank you for re-instating UOIP! Second, I write on behalf of minority shareholders to request that minority holders (specifically, xxxxname) is given a board seat in this newly reinstated company.
We know that you have a fiduciary duty to protect our rights and ownership of UOIP's valuable patents. That being said, we believe board representation is the best way for our voice to be heard and our interests protected. Simply put, we would like one of our 'own' on the board. Our specific goals would be
1. To ensure that any settlement benefits all shareholders equally.
2. To ensure that shareholders benefit equally regardless of whether the bulk of any settlement value is in a one-time payment or in future licensing.
3. To ensure that none of the items UOIP owns are transferred to another entity to the detriment of minority shareholders.
4. To ensure that minority shareholders have a voice in the direction of the company.
5. To advocate for the goal of relisting these shares with a goal of continual profits from licensing.
6. To advocate for an annual shareholders meeting and timely filings of all financial statements.
7. To review any expenses incurred and ensure all align with the goal of creating shareholder value.
I can be reached at xxxxx or by phone at xxxx. Please let me know how you would like to receive signatures and documentation of this request for our nomination of a member to the board of directors of our company as we are happy to complete whatever process is required.
Thank you for your time and efforts as we proceed to trial and advocate for our patent rights in this monumental case!
-xxxx
As shareholders we have the same rights whether an attorney drafts a letter for us or whether we send it.
If it's something that's determined to be a good idea, I'm sure we can get some free advice (many of us know lawyers) on how to best draft this in order to provide ammunition for any cases later. If anyone talks to an attorney friend.... maybe run it by them?
I'm all for sending something if it would help... On this particular line of questioning, I don't know if there are official steps we'd need to take to request a vote on a board member. If we do this, and send a certified letter, and he ignores it, then maybe it helps to make the case..... Kind of like Al Capone with the tax evasion thing...
Surely requesting a board vote isn't a personal letter thing though. Surely there are some kind of official steps somewhere that we'd need to take in order to make it something of value to bring up later?
Good morning!
May be a silly question, but now that UOIP has been re-instated, what would it take to do a shareholder petition and go through the process to nominate and demand a vote for a board member. This isn't about the case or money or the waterfall or anything like that... It's about our rights as shareholders in an active company.
Our holdings are pretty significant.. certainly enough to justify one 'seat' on the board. Requesting it may not accomplish anything except to help us establish our case later ( If we send Billy a petition and he ignores it, surely that doesn't look good)
Thanks for any thoughts on this matter!
Good morning! Has anyone ever gotten an email response from the company?
I've written a couple of times and never heard anything. Most recently, I asked about the FAQs and if they could add a "date last updated" note on there so we know what information is current and can get a sense of what 'soon' is. Legitimate questions that I've always been very positive about. I've also been clear on here that I am long and see a bright future.
Given that, I would have thought I'd get some kind of response (otherwise... what's the point of listing the email?) So... Has anyone else here ever actually gotten a response from the company (Nick) and if so, would you be willing to share it here?
Additionally, I'd like an answer to my question if possible, so if someone here has an 'in'... maybe you can ask it?
Have a great day all!
Since it's only Nick's salary and since he is deferring as much as possible, I'm not worried about any significant dilution in order to cover expenses. What expenses would we be paying for?
I guess the bigger issue is whether or not we can get the lender to keep deferring until the bond comes through. They could sink us if they really wanted to ( I guess?)
Good morning!
Any ideas on how long the final stages of UL are? Seems like we have been in the final stages for a while, but I don't have a great sense of the process or what we're really looking for.
Could an announcement just drop any day? Are they waiting until some wing of UL investing can load up on shares?
Price action on this one is strange. Someone will buy millions of shares on the way to .0023/.0024 and then it settles back. Is someone trying to load up and clear out the walls so when it pops, it really pops? I am tempted to sell when it jumps 50% in a day, but I'm sure the time I do will be the time it doesn't drop back, but that it flies so for now I'm sitting on the shares.
Frankly, I doubt anything is imminent.... nothing this month and maybe nothing next, but I do think that we are looking mid-term (a year or less) rather than long-term for a big positive catalyst.. and I don't mind that timeframe. I do hope to see more updates/projections/etc. soon.
I mean.. this week's release says they're restricted so I have to believe that is correct. If we've dropped this much and the lenders aren't selling.... it does make me worry about what happens when they become unrestricted.
anyone know how long those 123 m shares are restricted? I thought they were the ones selling this whole time.