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They never went after the acknowledged crooks at Boston DTox. Why should they with CLYW?
Can't sell CLYW without shareholder approval. I, for one, have not been approached.
After soliciting input from shareholders, Turrini has since "gone dark." Has not answered me, either. What a coincidence.
Another possible avenue is to contact the board of bar overseers in the states where CLYW's circus of attorneys are members. Not one has produced as much as a glass of warm spit for us shareholders. Does anyone have a list of these lawyers?
The BOD is apparently a band of professional criminals who are working with the infringers to enrich themselves at our expense. Now, what to do about it.
Scottrade is trading it. I traded.
As I noted, I suspect the infringers are funding the BOD to keep the patent tied-up until it expires. Evidence? Just a growing certainty that this mess could not have been sustained for all these years without some collusion or racketeering going on. 2002-2003 the pps was $5. Eight years later and 200M shares and no MM is screaming for the BOD to be replaced? A BOD with no visible means of support dragging this on year after year after year? Lawyers coming and going like flies at a picnic? I believe lawyers cannot divulge to others (like us) when they find fraud being committed. A patent worth hundereds of billions of dollars being held hostage? I've mentioned the Boston DTox scam, but that was a short-term fraud lasting perhaps two years and involving several dozen investors. CLYW-scale frauds cannot continue for a decade with 200M shares without a lot of help.
People operate primarily out of self-interest. What reason would the BOD have to continually destroy any money-making deal except to destroy the company through stealing the value of the patents, if not the patents themselves?
How does one approach the feds with suspicion of racketeering?
One might suspect that the infringers have been covertly paying for the sabotage of CLYW. To spend millions to keep from having to pay billions is a no-brainer. Would be interesting to check the past and present BODs' personal financial records. How might we do that? Through the discovery phase of Williams' counter-suit?
>>When are the people who have thousands, or tens of thousands, or more, going to pool their collective power and stop a BOD that obviously is NOT working in their best interests?
Please explain how they may do that. Law suit? 2-8 years to come to trial after perhaps $400,000 in expenses.
>>It just seems strange to this novice that if these patents are everything this board claims they are and this BOD has done nothing but hinder the gold rush then when is something going to get rolling like Filegate? Better yet, HOW and WHY was the Board's behavior tolerated for this long?
Initially, lack of paying attention. Now, lack of alternatives. Williams stated that he won a suit to allow the court to appoint a receiver and boot the BOD. He did not do that. No one else has tried to do it. Do you want to try?
>>With the value of these patents being estimated in, as some say, the tens or even hundreds of billions of dollars, even the most uneducated board, with the least amount of market experience, could have done a better job than this.
You assume good faith on the part of the BOD. That has never been demonstrated.
>>For the regulars that post here with some market experience, why not spend some of that valuable time shopping around for a contingency lawyer or an investor to get the company back on the pinks? While all of this is fairly entertaining, it is still an investment. If it's going to tank then let it tank. If it's worth fighting for then let's formulate a strategy and beat these crooks at their own game!
YES! Finally the point. There are almost 200M common shares outstanding. This message board represents a very small percentage of the total. At the risk of sounding like downsideup in all caps, WHERE ARE THE MAJORITY SHAREHOLDERS AND WHY HAVE THEY ALLOWED THIS CRAP TO CONTINUE? Educated guess: the shares are owned by company officers through trusts or secret deals or outright fraud and they do not want anything done to allow the company to succeed UNTIL THE REST OF US HAVE GIVEN-UP AND SOLD OUR SHARES. Then they can reap the billions of dollars CLYW is worth.
If you can suggest any way we can change this, I'm all ears.
Your post assumes good faith on the part of the BOD. We have seen none.
OK. How do we get a receiver appointed? Dave Williams, in an interview early this year, said he had won the judgment from the court that one could be appointed, adding that he didn't know if that would be a benefit for the shareholders. Dave, if you are out there (we know you are), how do you get a receiver appointed upon your winning judgment? What did the court say? Can anyone point to the court judgment document?
Per Fix Calypsowireless:
"Let us not forget that the judge's decision to allow CLYW and Daic 60 days to settle is ticking down. This means that, most likely, next month the case is thrown-out and we are back at square zero, with no money and the same BOD. We need a strategy to deal with this. Suing Daic clearly wasn't it. Receivership looks better every day."
A four dollar sell halves the pps. Is there any more proof needed that the BOD has to go?
The Facebook Fix Calypsowireless page is recommending that a receiver be appointed to remove the BOD that clearly has no intention of saving the company or the stockholders' investments. I agree. This may be our only reasonable short-term solution.
Reality check for Saturday, 19 November 2011.
There are approximately 200 million common shares outstanding. We know that, at best, this board represents perhaps 15% of them. The question is: why do the vast majority of the other shares remain uninvolved and apparently unconcerned with the company's littany of failures and alleged criminal activities?
Why is there not one MM willing to front the money to get the audit done and a shareholders' meeting done?
Why is there not one MM shareholder suing the BOD into oblivion?
The situation makes no intuitive sense. Eight years of "fraud as usual" and not one big shareholder makes a stink? Could the officers actually hold the 185M odd shares through blind partnerships and shell companies and fraudulent instruments? This is a burning question, not whether we were overcharged for the document copying (we weren't) or whether Dave Williams drives a Chevy or a Ford. We are missing the bigger picture and we need to discover it or else continue to chase our own tails while the BOD and the lawyers continue to laugh at us while they allegedly steal what little money the company has while they turn-down revenue opportunities.
Please remember that the cost of updating the records plus an independent audit is estimated at somewhere north of $300K. Who will pony-up for that? Management? Ha!
This assumes that management is honest. It isn't.
A US patent lasts 17 years. 2004 + 17 = 2021. We have ten years left on it.
Mid 2000s, I believe.
With opposition from the BOD, a certain percent of the stock is needed to call a shareholders' meeting. Don't know what that is.
Yeah. Really makes you wonder about the holders of 90% + of CLYW stock who remain silent and anonymous. What's the story with that?
>>DAVE saved the company by stopping Daic from taking the patent. Let's not forget that.
Oh, really? Where's that filed settlement Turrini promised by now? Dave is suing us as the owners of the company. Not such a hero.
You know, if the company's creditors sued together, they could put the company into bankruptcy and end the BOD problems. That they haven't once again suggests they know how much the patents are worth. In bankruptcy, the patents would go to someone like AT&T as highest bidder. Too many people want the patents' value for themselves. Gee. Who might that be...?
Let me repeat.
The company management has one goal: to become personally wealthy. Everything else is of no importance to them. If we get some crumbs, fine. If not, fine with them. The patents are worth billions. Billions. This means the insiders will do whatever it takes to get that money for themselves. This has meant creating as many roadblocks for investors as possible. The heavy scrutiny the management has garnered in the past year has stunned them. They thought they could keep this crap up until the company was gone and they were all fabulously wealthy. That dream of theirs is over. I suggest their main interest has now become divided between getting rich and keeping from losing in either civil or criminal court.
Calypso is a very large version of Boston Dtox. Dtox "went dark" after people had invested. No one ever saw either shares or their money back because, "the crooks stole the money." That is the best explanation anyone ever got. Rumor was a complaint was filed with the SEC. Nothing ever happened. Both Boston Dtox and Calypso Wireless were heavily involved with both DE Wine and Richard Pattin.
Calypso remains a lottery ticket. Small chance to win very big. While it's primary value for now has been reduced to entertainment, it also means that we shareholders have every reason to force management either to get a clue or get out.
First issue: getting audited financials so a shareholders' meeting can be called. Problem: having some high roller fund this. Suggestions?
>>These guys are unbelievable.
Why shouldn't they be? They have gotten away with it for about a decade. It's only recently that stockholders and regulators have started paying any attention. Turrini, Pierce, Daic, et al, can no longer get away with this crap. Past losers like Pattin and Wine know they are also in the crosshairs. Their undoing is now unstoppable. The issue for us is what we will be left with for our investment. Just the opportunity cost of having been long in this stock is enough to make you want to drink a twelve pack and then run naked through your stock broker's office, shouting in tongues.
Uh... Turrini and Pierce are liars?
And your timeframe for bringing these pirates to justice is...?
To be fair, they have not "failed," as they continue to do what they want at the expense of the stockholders.
Fine. Just how do we force a shareholders' meeting? Remember, this board represents, at best, 15% of the total shares. The vast majority of shareholders seem not to care. That opens-up another fascinating line of questions.
Turrini seems to be competent enough to have become a multi-millionaire.
108 pages. Short version?
Another day and no settlement despite this week's alleged conversations with Turrini. Stock down 25% from yesterday.
I am coming to believe that the BOD is manipulating the pps with its official and unofficial announcements. Turrini has, for the past year, either issued official statements or had his conversations with some stockholders unofficially released. All these statements have been positive, with timeframes for good stuff included. None of these happen, and accordingly, the pps drops. Who is profiting from this apparent stock manipulation? What are their relationships to company officers? Names, please.
Sssssshhhh.... he's too busy to answer. All those billions he's getting for the company now... announcement in a few days... wait for it... here it comes...!
>>let's get a real independent court appointed board member who clearly has no historic ties with working with any of the management or bod's.
And precisely how are we to do that? Resources available? Timetable?
I don't think Turrini, et al, were ready for the intensity of the spotlight that is being shined upon them by stockholders since last year. After all, for almost a decade they were allowed to do whatever they wanted behind a screen of lies and evasions. Those days are over. Civil and criminal judgments have become a real possibility for them.
One topic not discussed is how the patent inventor feels about what has been the history of CLYW.
How does this latest email from Turrini stack-up against what he has said since February re. imminent good developments, before the company was delisted?
$1.5M? I thought it was $150M to get the books audited! /S
Oh, woe is us! Sell now! Take 1/4 cent/share!
Sanity check. The patents are worth billions. Do you really think the players are going to just give that up? They haven't in the past eight years. They are apparently trying to steal it, but not give it up.
Well, the info is now posted here. Yet the stock stays stuck in the basement.
>>We have finally executed the settlement agreement and it should be filed with the court in the next couple of days. We are also working on other fronts and we hope to announce amazing news in the next 2 weeks.
You forgot to mention that CLYW has also purchased the Brooklyn Bridge and will begin charging all users $1.50/trip.
Don't keep us in suspense...