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Sadly, my friend, PTSC will stock will slump back into the 2c range as it has always done after these EURO scheme arbitrage deals. Just saying I have watched them play out many times. Good time to sell now from my astute observations. A court win with appeal wont come until the appeals are done in late 2017. Lots of trading opps in the next 2-3 years if PTSC does not run out of money first.
I doubt PTSC will ever see .25c or .10c because the patent world has changed and now companies that do not use their patents cannot really make much licensing their patents. Also, every company that PTSC tries to license will simply end up in court. A very lengthy and expensive process. I do think PTSC could be a double from here (which would be great!)with a court win in mid late 2016 and surviving the automatic appeal.
This is what Polis used to own in EDIG:
http://www.sec.gov/Archives/edgar/data/886328/000101968708000133/0001019687-08-000133.txt
It always made me suspicious that an insider would sell so many shares if EDIG was soon going to be valued in dollars as many speculate. Compare that to today. At a shareholder meeting it was reported on the boards that Polis was selling due to a depressed Vegas real estate market. But scrunchi is gonna be huge! Yup. Snicker.
http://www.sec.gov/Archives/edgar/data/886328/000129549015000002/xslF345X03/primary_doc.xml
As I said: http://openinsider.com/insider/Polis-Eric-M/1295490
The financiers are the investors and the share holders are the product. Do you really think a board member who knows far more than shareholders about EDIGs potential would be selling 243,000 shares if your ship was about to come in?
The US Dollar EURO arbitrage scheme has always been proven to be a great chance 2 sell PTSC shares. I hope U all took advantage of it! Soon the stock will slump back down into the 2c range as it has always done after the scheme has played out. Even now at .037 it is still a gift 2 sell. The court schedule says they trial will not happen until mid late 2016. PTSC could very run out of munnie by then. Sidelines are best with this stock. Just saying.
No trial until after April in 2016 since, I assume, the trial comes some time after a summary judgment hearing. I would say the trial may not be until August or September. Then the judge takes up to 6 months to decide. That puts a decision some time late 2017 or early 2017. Then there is the appeal and they take up to up to 16 months to decide. That puts the final disposition of this case some time in early 2018. That is why I am on the sidelines. Also, I know that today every company that gets sued for patent infringement takes the case all the way (like HTC) whereas in the past they would usually settle.
http://photos.imageevent.com/banos/ndoc6/Letter%20from%20Defendants%20Regarding%20Plaintiffsqu%20Proposed%20Revisions%20to%20Current%20Case%20Schedule%20filed%20by%20BandN%207-9-15.pdf
PTSC like its sister company EDIG has been stringing along shareholders for well over a decade. I am just interested in seeing how long they play them.
The European arbitrage scheme seems to work the large currency fluctuations between the US Dollar and the Euro. Most of the shares traded in the US today were actually sells.
http://quotes.freerealtime.com/dl/frt/M?IM=quotes&type=Time%26Sales&SA=quotes&symbol=EDIG&qm_page=96307
The old PTSC Europe arbitrage scheme is playing out again today! Whenever there is huge move in the Euro this plays out. Today the Euro tanked .4% which is a huge move. Don't be fooled by this as it has never historically meant a thing when the PTSC European shares trade volume. I have seen this dozens of times over the years. Something is up but it has nothing to do with PTSC other than a currency arbitrage scheme using PTSC shares.
I seriously doubt that anybody is short 2 million shares. There is simply not the interest in the stock. The market makers might be short to help make a market in the stock which is normal. You would still take a beating selling as there is no liquidity in this stock. If 100,000 shares sold it would be back in the mid to low 2 cent range.
That a license was purchased will not help shareholders as these licenses are for very small amounts even with huge companies like HTC. Past financials confirm this. Novatel is a very small company. I have my doubts that even if PTSC won all its litigation over the next 2 years of this case and appeal that license fees would ever be large enough to raise the share price of PTSC. A major problem is PTSC has over 400 million shares outstanding.
The 16,900 volume tells the tale. The low settlements are in the financials for all to see. Novatel uses the same chips as HTC, TI and Qualcomm, so I would expect the settlements to be similar. Of course that $90,000 settlement has to be split with TPL. Then Dominion Harbor gets their 25% cut then the lawyers and PTSC management get paid. I expect PTSC got $10-$15,000 at the most in the end. Not what I want to report just the way it is.
Novatel is TINY compared to HTC and since the HTC settlement was 1.8 million I assume the Novatel settlement was far far smaller. Novatel had 332 million in revenue in 2013 and HTC had 6.74 billion. Novatels revenue is 20 times less then HTC so I would guess the settlement amount was 20 times smaller than the 1.8 million HTC paid. If I divide 1.8 million by 20 I get about $90,000 which is what Novatel probably paid. The stock should not increase in value due to this settlement but if it does selling a few shares might be a good idea as there is usually very little liquidity in this stock.
https://en.wikipedia.org/wiki/HTC
https://en.wikipedia.org/wiki/Novatel_Wireless
If an investor bet against EVERY EDIG pr for the last 15 years they would have been 100% correct. If they believed the implications of progress and enduring success they would have been 100% wrong. No accident. Some still choose to trust this company in advance of results. I do not they burned up any trust about 10 years ago.
"DISMISSED with prejudice and without costs to any party" means PTSC did not get any money out of this. The case was simply dismissed.
NUNCHI InSiDe! (tm) Of course shareholders are meant to start seeing NUNCHI everywhere! That is what EDIG does. They glom on to current tech trends appearing to be an important part of it. They did this with music players 15 years ago. They appeared to be an integral part of the business and shareholders wondered if each new companies music player offering had "EDIG inside". They would ask the company and the response would be "how do you know we are not" or words to that effect. Sure enough not a one of the big players were licensing EDIGs tech. EDIG bought its music players from an Asian company and simply stuck their label on it or they engineered a few low volume players they sold on their website. I think few showed up at Best Buy. Shareholders bought most of them and the company lost money. The idea was EDIG would have multi billion dollar partners in the music player biz and they ended up with very little. I am not saying they are a total fraud. EDIG did do some custom engineering and make some prototypes. EDIG was simply not a critical part of the industry as they presented themselves. If EDIGs flash memory patents were strong believe me a lawyer would have taken them on as clients on a contingency fee arrangement (yeah lawyers really did that in the early 2000s). That is why a call them flim flam artists. They take a kernel of truth and spin a tale for share holders.
PTSC settled for court costs only according to the legal filings with Novatel. This tells me PTSC was afraid of being counter sued for court costs and simply let them off to avoid being sued for malicious prosecution. Not good for shareholders.
http://photos.imageevent.com/banos/ndoc6/STIPULATION%20And%20Order%20Of%20Dismissal%20filed%20by%20PDS%207-1-15.pdf
It is sad PTSC only has an "interim CFO/CEO" who has no affinity for shareholders and is happy to collect his 400k a year paycheck. Sick. Why would anybody hold shares in this stock. It is a mystery to me.
No PR on Novatel means it was nuisance value and I have seen this before when a PR does not come out after a settlement. Sadly it is a sign of weakness and a small settlement. Basically Novatel agreed to settle but stipulated that no PR would be allowed. Novatel does not want all the other patent trolls (non practicing entities) to know they are an easy mark for quick cash). The market reaction says it all. Zero shares traded. Wish it were different but there is no quick solution to PTSCs stock trading higher. Court win and appeal win I say does the trick! The trial is coming very soon in mid 2016.
PTSC financials prove settlements are for PEANUTS. The HTC
settlement was not even enough to make a profit for the quarter. If anybody buys into the stock based on this settlement it would be a good chance to unload a few shares. I would need a court and appeal win and a couple of quarters of stable revenue to have any confidence buying the stock.
EDIGs product is its "investors" that they string along and its investors are people like the Polis Family who have sold almost 30 million EDIG shares since 2008. If EDIG had such a good thing going with the lawsuits starting in 2008 why would the Polis family trust sell almost all their shares? The son is on the board of directors after all. They know what is going on. I never figured out why I was the only one to point out the SEC form SC13G that the Polis Family Trust filed every year to show the continually declining ownership. They no longer file because they are below 5% ownership now. My guess is well below that!
EDIG filed its parent NUNCHI patent before the AIA (America Invents Act) took effect so they do not have to meet the requirement that they have a working model of their patent. Also, it is vaporware as there is no working model of NUNCHI and Microsignet. The company said as much 14 months ago when they said in a PR that they were developing prototypes to demonstrate the technology.
I think I have followed enough trial reading all the legal filings for PTSC WILN and EDIG. Just because you are not a lawyer does not mean you should totally just trust the lawyers have your best interests at heart. I am not a CEO but I do not just trust Fred Falk. I know the most expensive phase of a lawsuit after the actual trial is the discovery phase because there is so much info to wade through. Most companies look to settle before this so they do not have to pay the hefty legal fees. EDIG, recently lets them go for like $2,000. This does not in any way "validate" EDIGs patents. The fact no PRs were allowed (because you know EDIG wanted them) is a sign of weakness on EDIGs part. None of the settlement dollar amounts since 2008, when they were far higher, indicate anything positive for shareholders....unless you buy into NUNCHI and Microsignet which simply exist on paper and as method patents can simply be worded around. By the way if you look up the Microsignet tech you will find there are already 2 companies that use the natural variations in silicone as a "fingerprint" security measure. They were in business before Microsignet and have patents.
Handel makes $30k a month no matter what happens then they get a contingency fee of what is collected. What more motivation would they need? They did not have to take the case because they think it will be a home run worth millions and will benefit EDIG shareholders. They will do well either way. I think it is a mistake to assume EDIG or the law firm are in business to help EDIG shareholders. Obviously both are doing quite well. And if you know Fred Falk's history it would be clear he is lucky to have any executive job. His primary skill has been stringing shareholders along for years implying potential that never actually happens.
"I.E. Flash technology and Microsignet.
I have no idea of why they / EDIG / Fred and can't make this work?"
My theory is the tech patents are just complicated enough to use for nuisance value lawsuits and that is why they exist. Look at how little the flash patents collected in the last quarterly report. Getting to the discovery phase of a lawsuit is very expensive and EDIG is settling for a couple of thousand dollars.
I think that if you do a little research on how complicated technology patents are often preferred to be used for nuisance lawsuits because of their complexity. Handals law license is not on the line and proving that they sued fraudulently is nearly impossible. You prefer to assume to best of people. You have said you feel Fred would just pack up and go home if he did not see great potential in EDIG or that he would go be a better paid CEO elsewhere. I see a guy who failed to graduate 2 community colleges he went to to study aviation, got he first job thanks to his uncle and has failed at everything he did at EDIG to increase shareholder value over a 15 year period who is not afraid to exaggerate every potential along the way. I suggest you go back over the years and read EDIGs PRs. It is a real eye opener. Whay would Handal do it? They are being paid a lot of money. I am only saying that based on EDIGs track record of hyping up their potential in every PR and then consistently failing over a 15 years period demands caution. Maybe if I had a boat load of money I would be defending the company but that would be based simply on emotion and not any kind of fundamentals.
I have seen dozens of excuses for EDIG not following through on the potential implied in their PRs. With regard to the demo units of Microsignet and NUNCHI technology they said they were working on 14 months ago people now say "oh they just were not important or too expensive or not feasible". When EDIG makes a claim in a PR implying potential and hope for investors I take it seriously and if it does not happen I lose trust in them. That is unemotional objective investing. The fact that not a single EDIG PR has ever even com close to living up to its implied potential is odd to say the least but 100% bad luck for 15 years is not a normal result.
Vaporware is exactly what NUNCHI is according to the definition. EDIG has never produced it in a working form, even though 16 months ago they said they were working on it.
https://en.wikipedia.org/wiki/Vaporware
In the computer industry, vaporware is a product, typically computer hardware or software, that is announced to the general public but is never actually manufactured nor officially cancelled. Use of the word has broadened to include products such as automobiles.
Vaporware is often announced months or years before its purported release, with development details lacking. Developers have been accused of intentionally promoting vaporware to keep customers from switching to competing products that offer more features.[1] Network World magazine called vaporware an "epidemic" in 1989, and blamed the press for not investigating whether developers' claims were true.
It would have to be significant. More than simply enough to keep the company hobbling along. Since EDIG said they expected partnership(s) in late 2011 in a March 2011 webcast I suspect they will come up short. If NUNCHI had anything to it it would be visibly promoted by EDIG and written up in tech journals. It is simply vaporware as far as I am concerned. Based on EDIGs past record of success with their many different business ventures and the long time since its introduction I suspect it will go nowhere.
I do not "hate" the company but I have observed them in action for a long time and they always come up way short and always exaggerate their potential. I think they are dishonest. I watch the company because I am amazed how they can continue to exist without ever producing results that will benefit shareholders. Fred Falk has made an entire career out of nothing. If I ever see one of their PRs come close to its implied potential I would consider buying shares but I think the long term history shows it is not a good idea to hold EDIG shares long term.
murryhill- Those are some hard truths that would get a poster below the rank of "president" banned (presidents cannot be banned). The biggest problem I had with EDIG regarding NUNCHI and Microsignet was this statement from a February 2014 PR:
“We continue to explore and market applications of our Nunchi®and microSignet™ technologies with the assistance of Handal & Associates. The Company’s microSignet technology offers a unique hardware security solution, which in addition to other levels of security offers a solution to online data security breaches. A prototype of this security technology is being developed to demonstrate this exciting technology to potential licensees. On a separate track, we are developing applications and technologies to demonstrate the power and functionality of our Nunchi technology,” concluded Falk.
So what ever happened to that? Another hope inspiring implication of progress from EDIG that gets said once and never spoken of again. They are simply untrustworthy. FUNNY! The guy on the other board who posted that "where are those prototypes" question I have also been talking about got banned!
mrkool-When EDIG applied for the NASDAQ I believe they did not have an independent board member with financial experience or the capitalization requirements. Something Falk should and the other execs at the company should have known. By the way it was during this period of intense hype over the NASDAQ application when they sold their shares and made millions.
"I Just Got Falked" tee shirt! http://falk-music.com/clothing/792/
EDIG was never on NASDAQ. They only claimed they filed an application and they "believed" and "expected" they would get on because they "felt" they met the requirements. I wished I did not believe them then and simply looked up the requirements. EDIG simply did not meet they. They did not have independent board members or the proper capitalization.
As for fundamentals EDIG simply did not have strong patents. If they did there were plenty of patent lawyers around in the early 2000s who would have taken the case on a contingency fee arrangement. EDIGs now defunct 774 patent was for a device that used flash memory as RAM. The reason for this was that RAM was very very expensive in the 1990s. EDIGs also used a specific type of flash memory that allowed this.
Simply trusting EDIG "hopes" and "expectations" has been a bad idea 100% of the time. You would be better off buying a lottery ticket because at least somebody wins other than company employees lawyers and financiers like the Polis family.
My point is no investors hopes or expectations for EDIG based on their PR implying potential in 15 years have even come close to fulfilling anything near share holder expectations. That is not normal for any business. Startups usually fail or succeed within a few years. Not 15.
EDIGs law firm is not "marketing" or "selling" NUNCHI what they are doing is true patent troll (non practicing entity) behavior. They sue a business and shake them down for a couple of thousand dollars. The amount they get (as proven by the financials) is far less than the company would have to spend on lawyers to defend themselves even through the early phases of litigation. They pay EDIG to go away. They settle they do not admit to "stealing" EDIGs tech. and do not allow any official PR. I did not make up this scenario it is well known to exist. It is called nuisance value settlements or "walking away money. I cant understand why you would ask why Fred or the law firm would keep this business running. They are making a very good living. Fred Falk went to 2 community colleges and did not graduate either. By the way he is no college drop out like Bill Gates, Falk studied aviation I believe. He is luck to have any job and got his start at a company a relative had control over.
Technology patents are often complicated so they are fertile ground for nuisance lawsuits. Proving that a lawsuit is unfounded is near impossible by the way. You assume the best of people when often that is not the case. If you watched EDIG for many years you would see the same patterns repeating themselves. People are judged by past behavior and by extension companies. Maybe if EDIG was just starting out and NUNCHI was its first business they could be given the benefit of the doubt. My opinion.
Those who have only been around a few years assume EDIG is some kind of normal business. I have watched them for 15 years and they are anything but normal. Always implying potential never coming close to reaching it. Sometimes, as with NUNCHI, they do not even seem to be trying. Just try searching the internet for "NUNCHI". Its been out since a March 2011 EDIG webcast and yet you get almost no hits other than EDIG themselves and the message boards. EDIGs product is its stock "investors" and its true investors are its employees and people like the Polis Family who sell millions of shares into the demand for the stock created by the implication of potential. Fred Falk has made an entire career out of implying potential. He has done well for himself and the lawyers are making a good living. Be happy for them!
Anybody who listened to the March 2011 webcast announcing NUNCHI knows they are full of BS. They practically promised partnership(s) by the fall and promised to be proactive and "get the word out". The result after 4 years is nothing and the promise that a law firm will be "selling" NUNCHI. Laughable.
Since 2008 EDIG has been getting smaller and smaller settlements. The patent licensing landscape has changed vastly since then and non practicing entities like EDIG have been delegitimized even when they have valid cases. EDIGs licensing fees are proven now repeatedly to be way below nuisance values. Sometimes only a one time payment of only a few thousand dollars.
WOW! Over 600k shares just sold. PTSC is now solidly in the 2c range. A very fair price considering the legal climate.
EDIGs lawfirm is "selling" NUNCHI..snicker
EDIG has been making claims about their potential for well over a decade. They "hope" or "expect" many positive things to happen they never do. If you were skeptical and betted against every one of EDIGs hopeful claims for 15 years you would have been 100% correct in the outcome. Those are not normal odds. It is more than simple bad luck. EDIG always throws out those hopeful sentences when they have yet another stinker quarter. It helps string the shareholders along. We long timers call them "carrots".
FALKED AGAIN! I had to say it. What other take is there? Investors expectations were for a breakout quarter with larger settlements AFTER a supposedly good markman ruling. The result was LESS than nuisance value settlements. I was actually way off in predicting a $1 million quarter (which still would have been bad for shareholders). By the way where on earth are those Microsignet and NUNCHI demonstration units the company mentioned over a year ago...that's right never mind.
EDIG had made more than a dozen such promising statements over the years. They specialize in them. Why not they have nothing to use it is purely speculative and if it does not work out, which for EDIG it never does, then its nothing on them. I wonder what basis trust in EDIG management is based. They are simply stringing investors along so board member Polis family trust can finish selling their millions of shares without tanking the share price. That is my opinion supported by their declining share holdings since 2008.