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For those interested it's worth noting that the latest 10-Q has been released for the first quarter March 2013.
Let's hope by the time the next 10-Q is released (June 2013) that the number of shares stated as issued and outstanding along with the share price at that time has increased exponentially suggesting a variety of things have occurred, no least confirmation of a capital raising, confirmation of production of the Medical Key ring and any other factors which may influence a rise in the share price, namely a positive development in legal proceedings.
These are the sorts of things which should be debated on this forum!
Shamus,
Welcome Back!
I've missed you and your insightful comments.
LMU
LNM
In those remarks indeed you are correct.
Your initial remarks implied that the "Judge Says" in your post 2713.
Hence Chaya's remarks about SMME's lawyers filing our Rebuttal.
That's all. I'm glad we cleared that up!!
LMU
LatenightMike,
Are you sure the statement of Uncontroverted facts is a statement made by the Judge as opposed to lawyers representing defendants V&MC?
I may be wrong however I believe you'll find the remarks made are those of their lawyers not the Judge.
If I'm wrong then I expect I'll be corrected.
LMU
Chaya
We are women hear us roar
In numbers too big to ignore
You are in a league of your own.
I wish you Luck as you enter the fight of your life.
LMU
KR,
So what are you suggesting?
That V, MC and their lawyers don't take SMME's claim seriously?
Or that the market hasn't taken their claim seriously?
In the case of the latter, it may well be the case. At least for the time being. I admit to the news taking my breath away when I glanced the figure then immediately turned my thoughts to the time and effort that SMME's legal representatives have worked on proceedings and formulated what may well be one of if not the largest patent infringement lawsuit in history?
The amount claimed and formally announced in the press release dated 05/07/2013 has I suspect taken everyone by surprise and may well take time for it to filter through.
I also suspect there is a degree of skepticism from various quarters as to the amount being claimed.
Personally I take the amount filed via the courts very seriously and await with anticipation the reactions of everyone currently and yet to be associated with this matter.
What I find more interesting is given the claim of 13.4 billion that the price shifted half a cent up during the day. One could have been forgiven for thinking that such news may have provided the catalyst for a spike in the price even if only temporary.
Given this inaction by the market it appears everyone is desperate to receive news and the status of production and as you've alluded to word of where the money's coming from to produce +1 million key rings.
LMU
Shiner & R,
Sheep not to be confused with Mutton,Camels a Dromedary or a Bactrian - 1 hump or 2?
Gentlemen your setting your standards too low for what this Gal is used too.
We may have to take it easy for a while and let things cool down. Randy - that's my husband seems to have cottoned onto to me. He's been asking questions. I may need to lay low for a while.
If this baby does takes off especially on news reported by SCH100 which if correct then Randy and I may need to work out our differences.
The frivolity has been fun but I need to get back to work and produce something as I have deadlines to meet.
Sorry gotta go I hear Randy coming!
LMU
R
Sheep - I feel undervalued. Daddy wouldn't be impressed.
If it must be livestock then I'm thinking Wagyu Beef!!
I'm intrigued to know when it may become public knowledge as to the amount of damages being claimed by Smme.
LMU
Dear Ranger & Shiner,
May I suggest as a precursor to any eventual "hooking up" that we should agree to allow for our mutual admiration of each other to embrace itself at the SMME victory party. Venue to be advised in due course.
I'll be the Gal in Red, High Heels and first on the dance floor you won't miss me.
Darlings, I still have to work out how to get rid of the old man first before venturing onto greener pastures.
The idea though of being a part of the next big dynasty does have its appeal!
LMU
Sorry R
I may have to give it away to charity.
I think you'd kill me.
LMU
R
A wise move.
Adding to your portfolio that is.
I've got so much that if this pretty thing takes off I won't know what to do with myself.
I May start by trading in my old man on a newer and younger more sporting type who will keep up with me.
LMU
R
Defendants presented with SMME claim for damages as outlined in press release dated 18th April 2013.
LMU
MB
Disclosure is a basic requirement.
Non disclosure could I suspect be an offense. Especially in the case of the SEC and or other authorities.
I continue to be intrigued how suppressed the matter has been kept from their shareholders, the authorities and the main stream media.
That's why when news breaks as it ultimately will there's going to be one Hell of noise made by those who have most to lose or are effected by possible breaches for non reporting.
LMU
NB
Possible non disclosure.
LMU
R,
Thanks.
It is worth noting in Visa's latest 10Q report that whilst Visa make broad sweeping statements about litigation there is no specific reference in the Legal Proceedings section of any case between Visa and Smme.
I'm well aware that this point has been raised before however it's apparent in documents filed by Visa dated the 1st May 2013 that it remains so.
LMU
Hi BB
Thanks for the latest.
I'm in a mess at the moment. Friday night my hair won't work. Dress doesn't fit. Shoes too tight.
Anyway enough about my problems.
Tell me while I'm applying my make up- what is the last day for settlement hearing?
LMU
Dear Fellow Bloggers,
Given the recent increase in Smme's share price I consider it necessary to correct a statement which I made or at least a question I posed in my post 2597.
Given there remains no news about capital raising or production of keyring or other products it's apparent that the price increases this past week are based on those others factors which I said were not present in Smme's case.
Why else has Smme's price increased? Perhaps someone knows something that I don't!
-----------------------------------------------------------
Post 2597
"There are of course other factors which drive a company's price,greed,fear,speculation,emotion,are but a few however none of these other elements appear up to this point in time had any influence in driving Smme's share up. Not least the prospect that SMME could receive a windfall from any successful litigation now playing out in the courts worth many millions if not billion(s) of dollars. None of this appears to have influenced the share price in its quest to head northwards. This leaves me puzzled and I'm regularly asking myself why"?
-------------------------------------------------------------
I'm not complaining mind you given my substantial shareholding and increase in value this past week but I remain cautious while we wait for actual news on production and product release.
LMU
Dear BB,
Thank you once again for taking the time and effort to provide extracts of the latest court documents. It is appreciated.
I'm somewhat surprised that no one has bothered to debate their contents and instead trade blows with each other.
Perhaps Shiner has an opinion? Or some other like minded indiviual!
LMU
Shamus,
Its been too long.............. I do so love reading your posts.
My question is not directed to you personally but to anyone who may care to reply to the constant which troubles me which has been covered so many times by way of explanation - quite simply that once SMME becomes a revenue company that we'll see the share price increase accordingly.
I appreciate the basic principle which is behind this statement namely that in order to attract attention and to see a company's share price increase on fact or speculation that earnings are one of the key drivers to a rise in a company's share price.
There are of course other factors which drive a company's price,greed,fear,speculation,emotion,are but a few however none of these other elements appear up to this point in time had any influence in driving Smme's share up. Not least the prospect that SMME could receive a windfall from any successful litigation now playing out in the courts worth many millions if not billion(s) of dollars. None of this appears to have influenced the share price in its quest to head northwards. This leaves me puzzled and I'm regularly asking myself why?
I'm sure we have all read many articles about companies similar to SMME and the position it finds itself not least VRNG of which I've taken an interest in,in the literal sense these past few months.
The attached article is but one of many which describe upside in the various battles being fought at the present time and how such decisions have a positive bearing in the case of VRNG and others in this case Markmann Hearings.
http://seekingalpha.com/article/1347871-markman-conferences-provide-big-opportunity-for-technology-stocks?source=email_rt_mc_related_0
Given the apparent success at the previous 2 Markmann hearings SMME has had this has not materialsed into any significant increase in its share price and seems to be treading water soley on the premise that once products are released that the share price will then take off based on future earnings.
Why is Smme different? Why do some companies share price escalate on the hope that something may occur when clearly this is not the case with Smme!
I cannot help but feel there are other factors at play which for reasons beyond my comprehension are suppressing Smme's share price.
Why else given the nature of share investing would investors not be swayed into the market given the positives which have played out up to this point concerning its ligitation with the worlds largest credit card co's coupled with rulings in both Markmann hearings and the prospects of a very large pay day which would translate onto its botom line.
Let me remind everyone that I am a long time investor in SMME and someone who initially invested in SMME when the prospects of any litigation were remote and probably not even on the horizon. I have viewed any windfall from any litigation as a bonus.
I believed in the company then and continue to believe in it now. I'm concerned that I may be in the minority and continue to look forward to news and ultimate release of products onto the market. I hope when this does eventually occur that the share price which has been promised to increase will do so as we all are anticipating otherwise we'll all be left to wonder where to now?
I share the frustrations and concern of Drunkenwoodie and skepticism of LatenightMike and am grateful for the sensible contributions of Badbilly,Pottsville,BillyBobski,Shamus,Ranger,Shiner and others and like everyone hope that my dancing days are all but upon me.
Good Luck.
LMU
BB,
Thank you so much for bringing to our attention this very intersting article.
Given its content I'm surprised that no one has offered any comments. Afterall I would have considered it would have been articles like this that would lead to sensible debate on the merits or the drawbacks of what the author may be suggesting, such as.
"There is not much new". The remainder of the paragraph relates to the medical keyring which by my read the writer appears to be underwhelmed by this product and ends with "though a potentially lucrative trial is drawing closer" making obvious reference to the litigation. This suggests to me the writer like so many others are pinning their hopes on a succesful outcome at trial or prior settlement as opposed to the technology the company has on its agenda to release.
"Risks are as worrying as ever" "Parlous Risk is the certainty for its shareholders" "my own new questions have not been addressed"
It's apparent he believes the narrowness of the claim relates to claim 5 and "without claim 5 there is no case".
This alone is worth debating is it not?
His conclusion - there are better/safer bets than SMME.
LMU
Ps: Like Shiner I look forward to hearing from the CEO on news/update on the timely release of upcoming product(s).
Until then I shall continue to accumulate shares in Smme based on the belief I have in the company, and it's CEO with product development and the legal team representing our interests on the litigation front.
Shamus,(kagayaku hoshi)
& my fellow bloggers;
With Spring approaching it's time for this little bird to fly off and do what you do in spring which is to multipy and Dance, Dance Dance.
These past few months have been fun participating in our group sessions however I've lots to do and with many new faces on board feel the Hub will only prosper during my absence. After all Shiner who having only posted several messages appears to have got the ear of those who count.
This has been LMU (over and out)!
Adios.
Hasta luego.
BB,
Thanks for the information on Pacer.
It's worth referring to post 2323 (Ranger) in which they made reference to an article posted on Seeking Alpha.
In that article it made reference to Smme having received in the region of 25,000 documents from V & MC.
A month later and we learn that Smme are in receipt of 1.5M documents.
Sounds like they have been bombarded with a document drop intended to overwhelm. I would assume a delaying tactic from V & MC's lawyers. Its possible that a large proportion of these documents have no value. Nonetheless they may need to be labored through to determine this.
Between now and the cut off date of discovery revised or otherwise those on the other side may well continue with their document assault.
I'm confident Patrick Bright and his esteemed legal team will deal with the processes as they see fit and are smart enough to identify fact from fiction.
LMU
Ps: Shiner I share your frustrations. I hope that if you are a true believer that you've been smart enough during your 9 years to have continued purchasing shares at reduced prices that will I believe prove in the future to be truly unbelievable.
BB,
Who knows?
It's anyone's guess I suppose and I'm sure those on the other side would hope for the matter to drag out longer than Smme would like.
As Ms Hendrick said in the article (16th January) which appeared in Seeking Alpha "we do not need to raise funds for legal costs .......... so we can take this to the Supreme Court".
We are fortunate a jury date has been set down for 3rd September 2013 so at least this provides some certainty although anything could occur between now and then.
The most important thing to occur I hope well before this time is production and sales of the medical Key ring and hopefully other products.
This is the news I'm really looking forward to hearing about and believe it's time once again for Smme to provide its shareholders and the market with an update concerning product release.
Released overnight is the latest 10Q filing however the company appears to be coy regarding production of the Medical Key ring and makes only a brief reference to the key ring in Note 6 (F-11).
The overview provides no further updates from those mentioned in the previous quarterly filing and whilst it states "we expect to begin mass production of our product in the second quarter of 2013 " it fails to describe which or what type(s) of product.
Maybe I'm expecting too much????
LMU
The below article appeared on Seeking Alpha earlier today and is worth reading.
LMU
-------------------------------------------------
The Vringo (VRNG) vs. Google (GOOG) et al. case continues to meander through the U.S. legal system, causing shares of VRNG to languish in a tight trading range ($3.14-$3.20). Each side continues to submit a bevy of new motions, the court has failed to make any significant rulings of late (except Laches), and a settlement appears to be light years away. With all this uncertainty, investor fatigue has definitely set in, and many investors are considering exiting their long positions according to the sentiment on Stocktwits. While I share in the frustration of other VRNG longs, I believe the NTP vs. RIM (now BlackBerry (BBRY)) case offers some key insights into when VRNG may get the long awaited final judgment by Judge Jackson, which should be a strong positive catalyst for VRNG shares.
My belief stems from that fact that the two cases have a large number of striking similarities, and may therefore unfold in a relatively similar manner. Specifically, these two cases have some of the same actors (Donald Stout), same District (Virginia Eastern District), same type of lawsuit (patent infringement in the technology sector), nearly identical original base damage award (roughly $30M), and highly defiant defendants willing to go to extremes to avoid paying for their infringement. With this in mind, I have outlined the key events in the NTP vs. RIM case, and discuss their relevance to the current Vringo vs. Google et al. case.
NTP vs. RIM Timeline
November 2001 - Complaint filed in the United States Eastern District of Virginia Court.
November 2002 - Jury found RIM had willfully infringed and awarded NTP a base award of $33M plus a running royalty of 5.7% (increased to $53M by the Judge for deceptive legal tactics during the course of the trial).
Early 2003 - Re-examination of the patents by USPTO brought up substantial problems with patentability.
May 2003 - Judge Spencer increased award to $57.3M and the running royalty to 8.55%.
March 2005 - An initial settlement for $450M was announced by RIM, but NTP stated that no settlement had been agreed to. RIM took legal action in an attempt to enforce the settlement.
June 2005 - RIM sent NTP a set of technical manuals that predated NTP's patents, and stated they would be used as prior art during the re-examination process. Unfortunately for RIM, this was too late in the legal process to be of much use.
February 2006 - The Supreme Court denied hearing RIM's motion to enforce the prior settlement agreement.
March 2006 - The companies jointly announced that a settlement for $612M was finally reached, bringing the case to a close.
Discussion
By using every legal process imaginable, RIM was able to delay paying NTP for over three years. Nevertheless, RIM's strategy of delay, delay, delay ended up costing the company somewhere in the neighborhood of $100-$150M in additional damages, making it worth the wait for NTP. In addition, I find it particularly interesting that the final judgment in the NTP vs. RIM case took around six months after the initial jury trial to finally be entered into the record. If the VRNG case continues to parallel the NTP vs. RIM case, investors could thus expect a final judgment to be entered around April/May of 2013. Vringo longs should also be interested in the fact that Judge Spencer significantly increased the running royalty awarded by the jury by 2.85%. Given that it's fairly common for judges to enhance the running royalty rate in general, I therefore believe it's reasonable to expect a similar outcome in the I/P Engine vs. Google et al. case. That would be another major catalyst for VRNG shares.
Despite the eerily similarities between these two cases, it's impossible to know if they will continue to parallel each other going forward. Nonetheless, there are definitely some interesting observations to be made in this comparison, and the NTP vs. RIM timeline strongly suggests that the final judgment in the Vringo case should come no later than May 2013. That is the primary catalyst most VRNG longs are truly interested in at this point, and the main reason for their frustration. With that said, I believe exiting the stock now and attempting to re-enter ahead of this catalyst is a fool's game. Vringo simply has too many other irons in the fire so to speak [ZTE (ZTCOF.PK) lawsuits, wireless energy charging technology, etc.], any of which could surprise the market causing the stock to break out of its trading range. As such, I believe this is an excellent time to accumulate shares of VRNG.
M&B,
Many thanks for your reply. It is appreciated.
Bottom Line............. I hope you're right-then we'll be all very happy people.
I also hope you're right with your suggested time frame. June 2013 now that does sound good.
LMU
M&B,
If only I could - answer your question that is.
I have repeatedly said - I am but a simple House Wife!
I prefer to ask questions in the hope that those persons smarter than me can answer them.
That said - I would assume is precisely what Patrick Bright ESQ and his team of highly skilled professionals are endeavo(u)ring to do.
To prove beyond a doubt that the defendants are in violation of "the 464 patent".
I'm not aware that the decision which came down last year from the Federal Appeals Court is in dispute?
I have assumed correctly I hope that decisions reached throughout proceedings including Markmann 1 & 2 as well as last years Appeals court ruling serve to strengthen our case against defendants.
I can only assume that if the above were sufficient proof by themselves that a trial in September wouldn't be required.
LMU
S8,
I'm in awe(awestruck,awe-inspiring,awesome) of how enlightened you are and the clarity of your comments referring to posts 2342 & 2344.
Are you sure you're not the Tango type?
Verbose - I think not! I would describe you more as Succinct in your replies.
While some may disagree I prefer those persons who are sure of themselves and their ability.
I agree the critical point is not whether Chaya is privvy to confidential information but whether Patrick Bright and his team of highly skilled professionals are able to determine from the estimated 25,000 pages received thus far,the facts to establish whether V & MC are in violation of "the 464 patent".
As you say SMME would be bettered served if Chaya focused her attention on the production and eventual roll out of the medical Keyring and hopefully cards in one form or another to follow shortly thereafter.
We must be close now to hearing (from someone)and preparing to see products released onto the market????
LMU
Tste9
It's good to hear from you.
It's pleasing to see comments starting to appear from a broader range of people who are obviously starting to take a closer look at SMME.
Can you tell me when you believe the article was written.
LMU
7 years ago when I invested in Smme there was no talk about litigation.
For me it was a belief in the technology which the company was intent on producing.
We cannot begin to imagine the challenges which Ms Hendrick would have encountered in their attempts to fit the technology into a small piece of plastic. It is this potential which will make the company so attractive to investors and possible suitors.
Any income earned from a settlement is a bonus.
LMU
Late night Mike
I'm sorry if you took my remarks personally. They were not aimed directly at you.
I have held shares in Smme for well over 7 years buying never selling during the highs and lows and as previously stated hold a significant number of shares.
Whilst its been quite a wait and at times frustrating I remain confident Smme and it's shareholders have a very bright future ahead of us.
It's important to ask ourselves why we invest in the various stocks we choose.
I suspect like most you've been asking yourself this question recently regarding your holding in smme.
Only you can chart your course and choose to hold or sell.
I wish you luck as you make your decision.
LMU
Duke
I agree with your comments in their entirety.
It's only natural there'll be detractors as well as those that truly believe.
Smme are on the verge of greatness make no mistake about it.
For those traders out there wishing only to make a quick buck then go - trade out now and be gone with you. For those who are genuine investors then take the opportunity to buy at what will be at truly unbelievable levels for 2013 will be our year.
May I wish everyone a very Happy Christmas and a GLORIOUS New Year.
LMU
Ps: I agree the wait has been frustrating but I'm sure will be worth it in the long run.
Is it just me or are there others out there who continue to be underwhelmed by the latest PR released overnight? Obviously the market has the same opinion as me!
The words which stick out for me in Todays PR is "Brings to Market".
Can someone please explain to me where in the PR the reference is made to a deal being done or goods actually being sold????? which would support that the product has been "brought to Market"
Isn't this just another example of people talking it up???
The contents of todays PR do not match the headline!
It's time to stop talking about what it can do and just release it and let the consumer and the market judge it accordingly.
LMU
R
Not quite sure what to say!
Scary comes to mind.
If I found myself confronted by your " mob" I may well yield believing that to be the safer or more sensible option.
I didn't realise you originate from the tropics???
This would explain your positive outlook on life - "peaceful and easy feeling".
If all goes according to plan I too would like to spend sometime in the tropics.
LMU
R
Singing and dancing are my areas of specialty past and present.
I'll be sure to check out Van the man's version.
I was perplexed when the same PR was released 2 days in a row.
The truth is that whilst it sounds promising it struck me as just more of the same that we have become accustomed to hearing without making reference to the website and how and where you might purchase the key ring left me feeling rather empty.
As I continue to say we must keep the faith however this latest PR offered little to the many doubters out there who question whether or when products will be released into the market.
I look forward to announcements of substance telling us that products are being rolled out and deals have been done.
I would like to believe this day will dawn soon.
LMU
BB
You know me... Just hopeless!!!
So what does it mean??
LMU
Shamus
No time for Careless Whispers.
Now is the time for clear and concise communication from those who know as opposed to those who would like us to believe they know.
We must have patience and keep the faith.
LMU
Shamus,
George Michael!
My Husband just adores him.......
Perhaps "Patience" another GM track may be more apt?
LMU
R,
I do very much like Bob Dylan however I prefer Graham Bonnet's version of "It's All over now Baby Blue".
It would seem that people associated with SMME may well be fans of Simon and Garfunkel - "Sounds of Silence" comes to mind!
LMU
Dear R,
So pleased to hear from you.
I've found myself buzzing around the house these past few weeks - very busy mind you- lots to do and can't seem to get Curtis Mayfield out of my mind.
I'm sure you know it............ "People Get Ready"
People get ready,there's a train a comin'
You don't need no baggage,you just get on board
I've had this other tune going through my head as well. "Silence is Golden" by the Tremeloes.
My I love singing and dancing.
I do hope the neighbors don't mind!
LMU
Duke
Over to you.
Delay with production.
Delay with hearing.
I look forward to reading with interest the next PR to see how these matters are reported and what attempt is made to put a positive twist on these delays.
As you've suggested all too often statements are made and not backed up.
R
I wished I shared your enthusiasm however with no updates from SMME and a reliance for information via unnamed sources I am quickly losing interest and patience.
60 days is all but up since the PR dated August 27. I consider it time for SMME to provide an update to their shareholders.
LMU