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I dont know.Who bought the shares when the volume was 22 Million and the shares went to over $.02? Something does not make sense here with this lowball $4.3 M purchase. Is there someone with deep pockets acquiring for a transaction outside of the CAA
Is there some reason why this is being broken up and aligned along concentrations for different purposes?
I looked at Mr Eno' s bio on CERES he has extensive experience in corporate strategy
and drop industry contacts in the chemical industry.
Evidently he was given all the cards for a sinking ship with a cargo of lines and debts
There are many different reasons as to why e resigned
1.For personal reasons and a migration better business opportunity
2.Jumping off a sinking ship
3.Too much heavy lifting and more work for his salary
4. Participation in another structure for the company that has to be arms length and free of any further conflicts of interest
This sounds like a concerted attempt to benefit
Certain parties.
If that is the case PWC will have some explaining to do with their omissions and destroying shareholder value.
The Patents licensing,purchase contracts and Nols that are considered intangible assets and have intrinsic and monetaryvalue.
I worked with PW aling with the top law firms many years ago for a big F500 company and found them to be very political
with their own self interests at heart .
I
I saw a comment about how biological did a exchange with a rights offering to preserve the NOLS and not lose control status and jeopardize the NOLS that some say are valueless.
Why cant Iuse the $320M in NOLS if I bought the company and all of its stock?
Can you ask the monitor to sell me the bankrupt shell with no assets except for $320M in NOLS and other intangibles such as goodwill,patents ,nonperforming contracts and etc along with all the common shares. for $100 .
I can assure you that it is possible for me to arrange I can get more value than the $4.3 M purchase price that was paid for the tangible assets that can be stepped up from acquisition cost to FMV by buying the stock.
Tax credits such as energy credits and etc have value that is why solar companies are promoting
solar installations to pass thru those credits to u vectors for $$$
$320 M of NOLS have value but the 80 percent control tests have to be maintained and are worth money since OWC listed this as an asset on one of their Monitor reports.
In this case to get them they have to acquire the stock for this and also to be able to make the 338 *10) election to step up the basis of the assets from acquisition cost to fair market value
which is a big difference in FMV in this case
They also have make this election and have the appraisal of the subject assets currently appraised and buttoned down before they can make the election.
According to the latest Monitors report it states
that the there are no anticipated transactions for common shareholders.
Ido not understand why PWC listed the $320M NOLS was listed as an asset and that there was no bid for
them by anyone at this point.Ithink in order to keep the NOLS m intact 80 percent control must be maintained.
If the company is a shell becomes free of debt can I then buy this company for $100 with the NOLS intact
Or multiplied by the number of shares 140 M
times $.019?
I wonder if a case for tortuous interference can be fought against both of them
Maybe they will do a saleleaseback of the land for 50 years to raise more money from someone
I saw a mention on bioaq on rumorsmurmursbuzz. blogspot about CEO meeting in Chicago called "ABed of Roses"
I dont know how to post the link
I wonder why Bu gie is in settlement talks?
Iwonder since Bungie was awa of ATVI blatant infringement against WDDD?
If so by Bungie unconsciously bringing. PTAB suit against WDDD whether that would constitute
aiding and abetting and delaying as a party to the infringers and submit Bungie to treble damages
Now things are moving in WDDDS favor and it just seems to be a matter of time the inevitable will happen to ATVI and its hand maiden Bungie who have now parted company on the surface.
In testing that all of a sudden ATVI transferred
Deestiny all rights tiny back to Bungie for nothing after WDDD aaid they would include
Destiny in their suit.
Does anyone have a ballpark of the potential damages Bungie will be liable for if we win the case against Bungie and does that open them up for treble damages ? If so what period would that cover?
Also what will be the potential damages for ATVI
and the the treble damages and what period and patents would th as t cofer?
This situation reminds me that. Bungie and ATVI
Is playing Monkey in the Middle with WDDD.
Only thing is tg hat both of them will be the
Monkey's Uncle in the end$$$$$$$.
I wonder what kind of torts have been committed.This maybe grounds for a class action against all parties.
I agree with you that this transaction has not been transparent and of so why? This has been more damaging to shareholders than the puechasers.If this was a liquidation and asset sale this should have been wrapped up in 90 days. There has no value to the Vinmar contracts and the options to build the new plants.
The way that stock has acted it doesn't seem like they are buying the shares but flipping them on a downward spiral.
A lot of people have said that this is a reverse merger and that this transaction pertains to a 338(10) election which treats the stock purchase as an asset purhase.
So far there has been no purchase or tender for the stock. Unless they have been doing a creeping acquisition but they have to have 80 percent of the voting stock which Idont think they have yet
Yet Ithinkthey are keeping someone familiar with the books and records to file the corporation return due by March 15 th and also make any elections.
Iam not sure if they will be possibly ve doing
a section 338(10) election or 336(e) election
they would have to have the appraisal values of the assets that they are stepping up from the allocated purchase price of $4.3 M .There seems to be something missing.
Its m is very hard to believe that the secured and unsecured creditors would agree for allocated proceeds of less than $3Milluon for what Comerica was owed and rmthe Govt of Canada.
No news yet.Nobody buying or selling shares .Anybody know what is going on? Any news from mgt ?
Does anyone know who to contact at Crane LLP
and in which document or monitor report their letter to PWC can be found?
I am wondering whether this could be a I.R.C.Section 336 (e) election rather than a section 338(10) since it can apply to partnerships and indivifusls
Question is does Bungie have a greater exposure
If they lose and would the damages be for uncollected royalties or exposure to royalties plus infringement for treble damages.
If the later,Ithink Bungie would very serious in making a settlement rather than just going through the motions to probe for any weaknesesses
White Owl take heart. Years ago I got stuck on the interstate next to farm in my brand new Buick Park Avenue. I jumped over the fence to ask the farmer in his big red barn if Icould use the phone
In his house .Everything in the house was dated and original down to the hand water pump in t hg e sink.The farmer and his wife looks like they stepped out of a Norman Rockwrll picture.
Come to find out that he formerly worked in an Insane mental h ok spiral and invested all his money in this one stock and became a millionaire and bought the farm with 100 cars in the field that he brought into the red barn to work on every day. This can happen to us with WDDD
If things went b.c right.
I had a very good idea that Bungie would try to settle.
If they did not Iwonder if their lawsuit would subject their company to severe damages
and if do they would want to get out of the frying pan and out of the way.
For ATVI here comes WDDD with their long awaited reward. If so after this long ordeal
Patient longs will be rewarded
I thought Iread somewhere that the CEO was a past consultant of PWC in the chemical industry i
Ido not think that this would alleviate PWC from possible conflict of interest issues in the event that there is possible connection even though they are backed up by KKR with deep pockets.
Could this be the reason PWC is attempting to distance thenselves.
34 years ago I handled a 338 transaction and a national appraisal firm was brought in the appraise the assets and now PWC is say the statements are unauddited,
This leaves unanswered questions since the figures offer was redacted
Crmd sold $6.1 M of their NOLS for $5 M in NewJersey..While our NOLS are worthless?
Did the Canadian government entities get paid?
I agree with your rationale
Yes I agree with this handling.
I think that PWC has been engaging in accountant speak and not presenting the
real situation.What is suspicious here is that
Is there seems to be something going on in the background otherwise there would be a pure bankruptcy and everything closed and finalized with creditors but we are stayed until Jan 4th.
1. The LOI displayed more digits than the $4.3M
where is backend of the horse on this?
2.PWC says this is a liquidation and there was an asset purchase. Patents, good will are intangibles and not assets depending upon how your refer to them and what purpose. The NOLS
Is not an asset depending upon how you refer to them.
3. Where does the patents ,I ntangible and NOLS
reside in which Bioamber
reside in which company Boamber Inc, BIOamber Sarnia
4. The NOLS have value perhaps through a pass they entity to LCY but there are control requirements to keep the NOLS intact that are possibly worth more than what the remaining unsecured creitirs are owed
It's going nowhere until they can show good old fashioned revenues and not sure any further.
News today on Nov 7 teleconferwnce with PTAB.
NO bifurcation of the issues of whether Bungie is time barred.
Seems like a lot of selling or shorting going on.
Ithink they will be announcing results before the end of the month.
Hopefully we will get a better idea of the companies revenue streams.
1 Direct to Customer _ walmart,amazon,etc.
2. Brick and Mortar stores
3.Distribution deLs
4.Partnership deals
5.Lawsuit settlement results
6.Results of raising funds for operations
7. Present amount of the float outstanding
Does anyone know if they are using the stock for potential acquisitions? If so,wouldn't they be making some announcements unless they are still in the works.
I wonder what Bungie and ATVI. are doing in light of the revamp of the PTAB procedures to bring uniformity ?
1. Discovery for PTAB
2. Negotiations with WDDD lawyers
3. New STRATEGY to thwart WDD moving forward with their suit such as a buyout
The longer ATVI waits the more it will cost them.
Thoughts?
I don't know at this point why this is trading like this.
Now all the debts are gone
Any other contingent liabilities are gone
We have acts receivable and inventory and other property
We have $200M of NOLS
A shell company like this is worth many millions.
The courts decision and unsealing of the documents will be very revealing that they have hidden from us all this time
Price waterhouse just came out with an announcement liquidation and asset purchase completed.unsecured creditors and equity holders will have no residual value. Cash balances,inventory ,intellectual property and third party contracts not transferred.
Anyone have any thoughts on this new announcement relating to common shareholers
I think WDDDs patents have expired already on what we would be liable for infringement but
so.mehow wish they be extwnded.
I have read an article on what is happening
In "esports " now multiplayer that is starting to be a new sector brought about by WDDD s pioneering patents and work
I sold most of mine for a gain.The smart money knew before us in Israel the results and the stock started moving and it was a sell on the news situation despite the fact that it was good news and that there is currently only one drug approved for pancreatic cancer and our drug stacks up favorably
Not noticed is that they increased their share of 8040 which has multiple uses
They also acquired a new cancer drug that is still early which in combo with 8040 might be the one and two punch for cancer that is little noticed
Yes. I have been around as well.Iam glad Isold my entire position.
The latest was at $.70 and we are below that now.
Tillary purchase was at a much higher price.
Debt conversion at a much lower price.
Wonder where it will settle between these three prices obviously below $.70 with the new supply of shares