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I couldn't believe they actually grew Enterprise Revenue.
Very impressive quarter. I think we are witnessing a transformation.
Of Course it would go to trial. Especially for Arris. They dont have the revenue stream to take such a massive hit financially. They have to go to trial and appeal.
Worlds WDDD waiting for its Unified Online "moment" over the PRIVY issue much the same as "Time Barred" Cisco proxy Arris trying to sneak in an invalidation action. In Worlds Activion Blizzards proxy Bungie actually pulled it off and got Worlds 3D patent for Muliplayer Gaming nixed. They weren't as fortunate as Unified in this regard.
Its all on what panel you draw these days. So now they twist in the wind on Appellate Decision Watch -as 5 other actions have already been settled by others petitioning the same Appellate Judges.
Buying companies like Unified, Worlds, VirnetX has become a game of timing the Appellate Judges.
No Appellate Response Today 8/6/2018 for 17-1481 Appeal Worlds v. Bungie
No chance SCOTUS will grant certori IMO. I think they'll take up the issue of the PTAB being legal first.
Correct. It appears there will be some buying opps today.
There other PAE's out there with horrible governance, 3 year late filings, nonexistent executive officers. Worlds runs a clean operation and that's refreshing in the chaotic world of the "Pink Sheets".
CEO UPDATE AUG 2 2018*****
OPEN LETTER From CEO Worlds
Well-Capitalized to Pursue Patent Litigation and Growth Opportunities
??BOSTON, MA , Aug. 02, 2018 (GLOBE NEWSWIRE) -- Worlds, Inc. (OTCQB: WDDD) (“Worlds” or the “Company”), a leading intellectual property developer and licensee of patents related to 3D online virtual worlds, today announced the issuance of the following shareholder letter from its Chairman and Chief Executive Officer, Thom Kildrin:
Dear Worlds family, partners and shareholders,
I write to you today with gratitude, pride and excitement. Gratitude and pride for the dedication and support of our partners and shareholders in our accomplishments to date, and great excitement for the value I see for us in the path ahead.
Firstly, I’d like to discuss our cash balance and capital structure, which are important to our foundation in building shareholder value. When we spun off Worlds Online, Inc. in January 2011, we retained 5,936,115 shares of common stock in Worlds Online Inc., which is now named MariMed, Inc. and operates within legal jurisdictions of cannabis. MariMed, Inc. is publicly traded as MRMD and is currently trading at $2.37 for over a $400 million market capitalization value.
These shares are retained on the books of our Company with a book value of $0. In 2017 and through the three months ended March 31, 2018, we sold 1,651,850 shares at an average price of $0.75, raising $1,230,207. As of April 1, 2018, we own approximately 4,284,265 shares in MariMed, Inc., currently valued at $10.1 million, which equates to most of our current market capitalization at $0.20 per share.
During the January 2018, we received an additional $875,000 upon the exercise of 35,000,000 warrants to purchase 35,000,000 shares of the Company’s common stock at $0.025 per share. The S-1 Registration Statement filed on May 1, 2018 with the SEC, relates to 10.5 million shares from these existing shareholders and their cash exercise of warrants. The Registration Statement has since been declared effective on June 22, 2018. This group of long-term fundamental individual investors initially provided $875,000 of cash to the Company in October 2017.
As of March 31, 2018, we had a total of 49,354,833 shares outstanding and $1,147,409 in cash.
We are adequately capitalized for the remainder of 2018 and with our stock position in MariMed, Inc., we have the means to raise additional cash in a non-dilutive manner.
Now turning to our patent portfolio, litigation and business strategy going forward. We believe that multi-user, interactive 3D is becoming a “hot” area and our patent portfolio is well-positioned to take advantage of that.
We intend to continue to increase, and to more aggressively enforce, our IP against alleged infringers. We intend to endeavor to prosecute our issued patents and any future issued patents against all parties that we and our legal counsel believe to be infringing on our patents. We may also seek to acquire additional patents we believe will enhance our portfolio position in the markets within which our existing patents cover.
Worlds Inc. has retained all of its related Intellectual Property (IP) consisting of the 10 existing patents,
(6,219,045; 7,181,690; 7,493,558; 7,945,856; 8,082,501; 8,145,998; 8,161,385; 8,407,592; 8,640,028; 9,110,567).
The description of the initial patent is as follows:
“The present invention provides a highly scalable architecture for a three dimensional, multi-user, interactive virtual world system. In a preferred embodiment a plurality of users interact in the three-dimensional, computer-generated graphical space where each user executes a client process to view a virtual world from the perspective of that user. The virtual world shows Avatars representing the other users who are neighbors of the user viewing the virtual world. In order that the view can be updated to reflect the motion of the remote user's Avatar, motion information is transmitted to a central server process that provides position updates to client processes for neighbors of the user at that client process. The client process also uses an environment database to determine which background objects to render as well as to limit the number of displayable Avatars to a maximum number of Avatars displayable by that client.”
On March 30, 2012, the Company filed a patent infringement lawsuit against Activision Bizzard Inc., Blizzard Entertainment Inc. and Activision Publishing Inc. in the United States District Court for the District of Massachusetts. Susman Godfrey LLP is lead counsel for the Company. The costs to prosecute those parties that the Company and our legal counsel believe to be infringing on said patents are expensed by the Company.
On May 26, 2015, Bungie, Inc. filed three Petitions for Inter Partes Review with the U.S. Patent & Trademark Office (“USPTO”), and specifically, the Patent Trial and Appeal Board (“PTAB”). These Petitions for Inter Partes Review, Case Nos. IPR2015-01264, -01268, and -01269 respectively contained validity challenges of three U.S. patents assigned to the Company. On June 1, 2015, Bungie, Inc. filed three additional Petitions for Inter Partes Review with the USPTO, and specifically the PTAB. The Petition for Inter Partes Review, Case No. IPR201501319 contained validity challenges of one additional U.S. patent assigned to the Company. The Petitions for Inter Partes Review, Case Nos. IPR2015-01321 and 01325 contained validity challenges of one additional U.S. patent assigned to the Company. In each Inter Partes Review, Bungie, Inc. was asking the PTAB to cancel issued claims from the Company’s patents.
Earlier this year on January 22, 2018, the United States Court of Appeals for the Federal Circuit scheduled the oral argument for Worlds’ appeal of the U.S. Patent & Trademark Office Patent Trial & Appeal Board (USPTO PTAB) Inter Partes Review (IPR) decisions that issued in November and December, 2016. The oral argument took place before a panel of three judges of the Federal Circuit on March 9, 2018. A decision on these appeals is expected within the 2018 calendar year.
The Federal case before Judge Denise Casper has been stayed pending the outcome of the IPR appeal to the United States Court of Appeals for the Federal Circuit (“CAFC”).
With all of this positive momentum building and an eye to the future of building long-term shareholder value, our Board and management believed it was an appropriate time to retain a proactive strategic investor relations firm to help us reach new potential investors and effectively communicate our investment thesis. In doing so, we have engaged Hayden IR, a well-known national investor relations firm, to develop a comprehensive investor relations program. Our goal with Hayden IR is to re-introduce Worlds, Inc. to the investment community, increase our awareness and shareholder base and enhance shareholder value. We are confident that throughout their national footprint, Hayden IR will help us more effectively communicate our business strategy, business objectives and corporate milestones to a wider audience of sophisticated investors.
Hayden IR is a highly regarded investor relations consulting firm known for its ability to connect underfollowed and undervalued emerging growth companies with sophisticated institutional investors, buy-side and sell-side analysts, retail brokerage firms and accredited individual investors. Leveraging decades of cumulative experience, Hayden IR develops strategies to help clients effectively communicate with the investment community and works to increase their exposure through targeted outreach and transparent positioning. Hayden IR helps public companies deliver the right message to the right audience. Over time, Hayden IR helps its clients navigate up the Wall Street value chain and to help them secure a reasonable valuation by broadening their audience, expanding institutional ownership and ensuring clear, consistent communication with the public.
In closing, we are very excited for what is ahead for Worlds, Inc. and look forward to increasing our communication and transparency with shareholders and prospective new shareholders.
All good wishes for a healthy, happy and prosperous second half of 2018 and into 2019 to our families, partners and sharetakeholders,
Sincerely,
Thom Kidrin
Chairman and Chief Executive Officer
Worlds, Inc.
Worlds, Inc. (OTCQB: WDDD), is a leading intellectual property developer and licensee of patents related to 3D online virtual worlds. The Company has a portfolio of 10 US patents for multi-server technology for 3D applications. The earliest of these patents issued on an application filed November 12, 1996. A provisional patent application, serial number 60/020,296, was filed on November 13, 1995. These patents are related to each other and disclose and claim systems and methods for enabling users to interact in a virtual space.
For additional information about Worlds, Inc., please visit: www.Worlds.com.
Forward-Looking Statements
This release contains certain forward-looking statements and information relating to Worlds Inc. that are based on the beliefs of Worlds' management, as well as assumptions made by and information currently available to the Company. Such statements reflect the current views of the Company with respect to future events including estimates and projections about its business based on certain assumptions of its management, including those described in this Release. These statements are not guarantees of future performance and involve risk and uncertainties that are difficult to predict. Additional risk factors are included in the Company’s public filings with the SEC. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein as “hoped,” “anticipated,” “believed,” “estimated,” “should,” “preparing,” “expected” or words of a similar nature. The Company does not intend to update these forward-looking statements.
Contacts:
Media Relations:
Accentuate PR
Julie Shepherd
847-275-3643
Julie@accentuatepr.com
Investor Relations:
Hayden IR
917-658-7878
hart@haydenir.com
Excellent post. Its not a coincidence that Tom released that IMO in light of the pending announcement by the US COA.
It seems the Appellate is all over "privy" issues now. Let hope the Judges swing hard to Worlds on this one. Then just like Chanbond/Unified Online last Friday you can watch this WDDD Blog site light up like a christmas tree.
Issue is with U.S. Patent No. 8,984,565. The "channel" interpretation.
No. Without that Cisco landmine "the subjective take the PTAB Board interpreted Channel" this is more like $1.00 IMO This stock amounts to a very cheap call option on upwards of a $1 billion award.
The real issue facing UOIP is the core patent that Cisco won on. That patent creates a problem for UOIP/ Chanbond. The PTAB split the definition of "frequency" away from "RF Channel". That placed a wide door for Cisco to substitute type of Frequency's including CDMA with the definition "Channel" thereby bringing in prior art that defeated UOIP. This will make it difficult for Chanbond/Unified to prevail. It has to be remanded.
Looking forward to that. There are only a few of these entities making this kind of progress in PTAB hearings. Expect more visibility as the Federal Court hearings draw closer IMO.
$150 million is closer valuation based on litigation risk today IMO.
Apples motion will go nowhere IMO. Just a stall tactic to buy time, that's not really working. This was all about squeezing the company's prime revenue source, the stock, by trumping up a self serving motion aimed at diminishing perceived value of the successful litigation.
If MRMD MariMed can have a $500 mill market cap on $7 Million is sales, CNAB can have at least a $250 mill market cap on $8 Million in sales.
I think this is one of the few times where executing a license agreement early might just make sense for the Plaintiffs. Easily $20-25 million of litigation costs ahead.
Sent this over to a friend who was complaining the PTAB was disregarding Privy Complaints IP WATCH DOG Complains PTAB is ignoring PRIVY Please like his tweet to show that's no longer the case as in Unified Onlines case!
I suppose there are many with 1 million or more shares feeling that it could become a reality. Long road still but definitely on it for certain now.
Another quarter of Good Numbers and this will be on its way!
As requested. You asked for it and you got it. Congrats Unified!
"Outta the Park Hit" I will feature this on my Blog. I stand by $150 million market cap IMO per my comments yesterday. This should be at $.15-20 now IMO.
Unified Online (Chanbond) Major WIN over ARRIS 7/27/2018
Based on Risk at IPR this should be at least $150 million Market Value when weighed against other Patent Plays. Undervalued IMO
Buying and Holding.
Won at the PTAB. Claims brought to the PTAB are backed up with evidence (prior Art) that demonstrates the IP is obvious and should not have been granted a patent. Major players who can afford to spend 100's of millions on legal defense cant seem to find Prior Art that would suggest Voip-pals IP is obvious.
So to imply they have won nothing is a fallacy. They in fact have effectively blocked the best and the brightest legal minds from invalidating their IP before the Governments Tribunal; which was solely created to invalidate patents. Any one else would call that a WIN, a major WIN!
As much as I hate the Governance, I am compelled to like the Tech, which is why I stay in this equity. Equivalent to holding your nose in a Loo thats sitting on top of a Gold Mine.
There are many things I dont like about this company. There are also many things I do like. The Positive outweighs the Negative IMO.
Primarily because MRMD Marimed is a PINK Sheet stock. Marijuana stocks still have Banking issues caused by the Federal and State regulatory framework. Trading on the listed exchanges is complex for these entities. As Congress and States work to conform the laws things will get better. Of course so will the stock price, hence thats the reason MRMD carries such a high Market Value, many are anticipating this change.
Still many are waiting for the PTAB decision before deciding what to do with Worlds. Since its a small Shareholder base and Tom Kidrin rarely releases a press release we dont get much action. Certainly not what MRMD gets.
IP watchdog gets some very good press coverage. Gene Quinn does a fabulous job of getting his message out and his contributors are equally as impressive. Its easy to interpret the PR release as beneficial to Voip-Pal and claim this as a sell or buy event depending on the investor. The reality though is its always been a BUY since the "clean sweep" at the PTAB, for investors looking for a long term win, IMO. Personally any communication by the company is always a good thing, either for buyers or sellers. Lets hope for more.
Most patent plays are long term. That should be obvious given examples like VirnetX etc etc.
Agreed. Momentum has not yet begun IMO.
10 cents an under is a "gift" IMO
We added to our position.
We have taken a position based off Patent held.
"United Cannabis® Corporation has US and worldwide patent protection for its proprietary technology until October 21, 2035. United Cannabis® Corporation’s proprietary cannabinoid compositions are covered by United States Patent No. 9,730,911 (the ‘911 Patent).
The patent covers a variety of liquid formulations containing cannabinoids, with or without certain terpenes/flavonoids, and including formulations infused in a medium chain triglyceride (MCT). The technology can be used with a wide variety of phytotherapeutic products with applications in the medical, pharmaceutical and industrial markets.
United Cannabis® is offering licenses to its ‘911 Patent and related US and worldwide counterparts under terms that are customized to each licensee. Negotiations are
conducted pursuant to mutual non-disclosure agreements. Licensing is available in the United States and all countries where patent protection has been awarded to United Cannabis® via the Patent Cooperation Treaty."
Agreed.
Correct 3-5 years. Next question?
200 million shares at .07 $14 million. Not a problem for this PAE's tech.