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"This accounting guideline states that if doubt exists between two acceptable alternatives (in other words the accountant needs to break a tie), the accountant should choose the alternative that will result in a lesser asset amount and/or a lesser profit."
WDDD 100% has the option of selling MRMD to re-pay the notes because that would be the LESSER EVIL compared to dilution.
My posts containing important information are being deleted....good luck everyone. While the misinformation spreads like wildfire.
Yep tried to explain the 2nd part maybe 15 times to him and he will not listen.
They do not have to tell you EXACTLY how they would go about repaying a note. It's tedious and unnecessary.
Still makes absolutely no sense. Why would all these people have invested if they thought the PTAB ruling was going to be negative? Because that's why everyone sold off right? So these very smart people invested and then just dipped pre-PTAB before anything was invalidated?
You contradict yourself at every corner.
Yeah, claims 2 and 18 of patent 998 are SO worthless.
Keep the justification coming.
You know the very fact that the price went down doesn't mean everything you've ever said is right, correct?
Markman price has NOTHING to do with the effect on PPS of the PTAB ruling.
You have no argument that the PTAB ruling (i.e. invalidating 40+ claims) did anything to the share price. Because it didn't.
Good post and points....I agree....you've been on point with everything imo.
I understand that too - as someone who didn't overlap between VRNG and WDDD (just WDDD for me), it's definitely easy to see things from a different lens. But also as someone who's been following this one a somewhat-diligent basis, I can't say there is much besides the PTAB ruling that has had a definitive impact on WDDD's positions.
I feel almost exactly the same on August 31, 2017 as I did in 2013 when I originally invested. Mainly because of claims 2 and 18 of patent 998, Susman Godfrey's involvement, and the amount at stake here.
I'm not sure if my commentary has been misconstrued...I am long, have always been long, and will continue to add at these prices.
All of the "old news" has directly affected the share price. But nothing fundamentally changed about WDDD's legal position between the positive markman and immediately prior to the PTAB ruling. All that had changed was (1) time and (2) Hudson Bay dilution.
With every Bungie delay, investors said "I'm out, I can get money somewhere else faster."
What happened, fundamentally, between the positive markman, and the PTAB ruling?
That's the real question. This stock plummeted on no news, no new anything.
So when I say the stock went from $0.15 to $0.03 because of delays, I literally mean that and believe that.
I think maybe the only thing is the Hudson Bay dilution which was a nightmare if you checked this stock more than once a month.
Good points. I have also accumulated shares because at every level I thought the risk was worth the investment. While we may be in a slightly worse position after PTAB, I still believe in the risk/reward, and truly believe the delays have pushed the price down. So I see massive value in being an active board member/watcher on a delayed investment.
Thanks for the link! Bookmarking it this time.
Would someone mind posting the clean link to the level 2 activity as they did a few weeks ago? I hate my broker's level 2 visuals. Just the clean, text-only version. Can't find it in the post history.
Exactly. Most retail investors didn't understand the timeline and thought a final court date or settlement would be quick.
Most with background in the area knew this was a long, long play.
I'm sure many others have sold with the intentions of getting back in closer to CAFC, SCOTUS, etc.
Pt. I
Have you ever read through the entirety of the patents, their claims, the PTAB ruling, and Bungie's response?
Pt. II
Sure, the stock isn't trading at $0.03 only because of Bungie delays. My point was that the only reason it has DIPPED from $0.60 to $0.30 to $0.15 to $0.10 to $0.03 (and may keep going) is because of the delays. Nothing has fundamentally changed.
The stock was already at $0.04 by the time the PTAB ruled many of the claims unpatentable. So the "remaining claims from PTAB being worthless" is not a valid argument for why this is at $0.03. Most of the market had sold off prior to any claims being killed because it was taking too long.
Pt. III
Someone betting that an NPE patent infringement case is going to lose. Wow, such a bold claim!
The odds are against WDDD. There is not a huge percentage chance they win in court. That's why the stock is so low.
Of course, you're MORE LIKELY THAN NOT to be correct - that WDDD ends up essentially worthless. It's not outrageous to think that.
But if they do win, and claim 2 of patent 998 is used to assert infringement by ATVI, this will be a rocketship of a PPS. Most people are invested because they believe that upside is worth the $0.03. Or $0.07. Or whatever their average PPS is.
You saying "WDDD is worthless" is to me a worthless statement. Completely ignores the $$ at stake and potential from a win. Just because you sold at $0.15 and it's now at $0.03 does not mean WDDD is dead. It just means investors aren't waiting around.
I have no idea what you're talking about.
Board moderator telling me I lack intelligence....classy.
A couple things.
1) The market does not operate efficiently with a penny stock. As I have said before, most retail investors turned away from penny stocks a long time ago. You can't actually think the market perfectly buys and sells penny stocks.
2) The market ATTRIBUTED WDDDs PATENTS VALUE. In 2013, the PPS of this stock was around $0.60.
3) The primary reasons this stock have lost value:
a) time - most investors got out after the first delay, and more got out at each Bungie delay (doesn't change anything about the actual final case)
b) Hudson Bay - were issued shares as part of convertible debt I believe. Diluted and sold.
THE STOCK WENT FROM $0.50 TO $0.03 FROM 2013-2016 WITH NOTHING REALLY HAPPENING BESIDES A POSITIVE MARKMAN.
I'm sure there was a lot of market manipulation and much of the value was just a run-up. However, this was settled at $0.15-$0.20 after the major run-up and remained there for a while.
With each Bungie delay came more sellers - no one wanted to wait on a court case that was still YEARS away.
Stop using this argument.
[QUOTE]
I significantly overrated the potential market reaction of the Bungie response.
IMO, if the world was watching, there would have been a significant jump either way (down or up).
Saying that a lack of cross-appeal from Bungie means that WDDD's claims are worthless makes no sense to me. If that's what that meant, this stock was have lost 50% today.
I just don't think there are enough investors watching this for it to matter with something like a response.
JMHO.
"ORDERED that Petitioner has shown by a preponderance of the evidence that claims 1 and 20 of the ’998 patent are unpatentable; FURTHER ORDERED that Petitioner has not shown by a preponderance of the evidence that claims 2, 3, 7, 8, 11–18, and 20 of the ’998 patent are unpatentable"
Still don't understand this. Is 20 killed?
Patent 8145998 - claims 2, 3, 7, 8, 11-18, 20
Patent 7181690 - claims 4, 8, 13, 16
Patent 7493558 - claims 5, 7
Good question, kid. I am still making my way through the original PTAB ruling in which certain claims were rendered unpatentable. From my initial sweepthrough, the claims of patents 690 and 558 are all unique.
I believe patent 998 has AT LEAST one unique, significantly important claim (claim 2):
- Three-dimensional avatar
- Database storing information associated with one or more avatars
- Memory storing instructions
- Position and orientation of each 3-d avatar shown
- Rendering display that shows the virtual world to the local user from a third user perspective and a rendering that allows the local user to view the local user avatar in the virtual world
The other claims within patent 998 are IMO critical to understanding and supporting the original claim 2. Some of the important supporting claims are:
Claim 3 - The system according to claim 2, wherein the local user is associated with a custom avatar created based on input from the local user.
Claim 7 - The system according to claim 2, further comprising an audio processor coupled to the first processor for generating and routing messages associated with audio signals received from a remote user to an audio device.
Claim 8 - The system according to claim 2, further comprising a primitives database storing information describing how to render an object.
Claim 11-18 - Limiting the number of remote users shown by a variety of methods (all unique but with the same idea).
Claims 11-18 are similar to the claims in patent 690, IMO, but still unique
Claim 20 - Displaying the plurality of avatars on a display device associated with the client processor.
Many of the above claims are dependent on claim 2, the Alpha Claim. No pun intended.
Looking back, Alpha's claim that only a few unique claims got through was hilarious, considering that most of the claims in the first place were not inherently unique but are supporting claims that help explain and build on another claim. Claim 2 on patent 998 is the most important claim IMO, which has passed through and been validated.
So when Alpha says "most claims have been defeated," he really means "a bunch of non-unique claims got defeated, and claim 2 of 998 remains."
Huge news for WDDD - we march on
I'm praying that my funds are cleared before the hold on the Bungie response is lifted. I completely forgot how long it takes for my broker to clear funds.
EDIT: looks like it was lifted, no 101 or cross claim.
If this skyrockets within the day I am going to be very upset.
WDDD up 12% on the day.
The "smart investors" are not selling.
There is no dilution.
Yep. Not sure if my post was misconstrued but I 100% agree.
I'll believe that NPEs have a lower success rate when I see it.
All I see is that there's a <5% chance our validated claims are lost at CAFC. Real. Facts.
Again, wrong.
The MRMD stock is material to the company. However, if an investor wanted to invest in MRMD, they would do it directly.
For the 10th time, the company has already disclosed that dilution would be an option for financing - the worst possible option of 1) dilution, 2) sale of MRMD, 3) restructuring, 4) other financing.
They have no need to tell you or me if they change their mind and want to sell MRMD to cover these costs because they already disclosed the most conservative option.
The company has no need to hold your hand and walk you through its step-by-step plans for the next 90 days. Their disclosure was adequate.
Important questions being asked here - we need to be focused on the filing. What is going on? Why is it still locked?
I know, I don't understand. There is an incredibly important release upcoming (should be in the next few days unless something else is going on) yet $.005 dilution is what we're STILL talking about?
WDDD acknowledged that dilution may be used to pay off the notes in default - and for the options available (dilution, MRMD sale, restructuring), dilution would be the absolute worst for shareholders. Because selling MRMD or restructuring would be more favorable for investors, it's not necessary that they go out of their way to disclose that. It's a decision that WDDD has to make and if their auditor doesn't believe it misleads investors, the disclosure is not required.
And that's why it's not disclosed - because it's not important to investors. They may absolutely dilute, but MRMD sale is an option.
Here we go again - arguing un-important things while we wait for something actually important - the Bungie release filing!
Ugh.