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I agree, they are going too extra expense to clean up the books for a reason. Hopefully we will get that answer soon!
This is starting to look and feel alot like the VRNG vs GOOG case. Scorched earth written all over it. I will watch,wait and see on this one for now, I can't and won't get dragged through the mud again for the next 2 years.
GLTA
Yes and me thinking I can do everything without reading the user manuel learned a fast $30 later not to download the whole docket for cases and just put in the current date for filings. Your only charged .10 per page that way.
No pacers yet. I just checked.
The 3.5% of 20.9% was for past damages. Future RR from May forward could be affected but thats not my opinion.
Still no hot link. I just gave it a shot in case you were going to try again. Save the .20 fee lol
Thats what it say's in the remarks.
Totally agree MtMom! And considering his speculation on the LS settlement was right on, you would think he would be given a little more credit!
Not just you Mt.mom, post Chez 13D the selling has stopped and it looks like a slow steady rise until news. I sense a confidence about the stock and prospects of the company since Chez announced his involvement.
"You forgot about YELP ! Russell won't settle"
He may regret that decision since he will probably be paying one of his biggest competitors Royalties for the next 18 years imo.
New EDVA blog:
http://edvapatent.wordpress.com/2013/09/23/filing-date-extended-for-grpn-bcyp-claim-construction-statement/
Very well done EDVA!
Give the guy some time Postlye. The blog and picks are less then a year old. You have been a huge critic of impatient IP investors claiming none of us realize the length of time and patience it takes for these law suits to play out. This company has two settlements in hand which should bode well with the rest of the defendants wouldn't you agree? At .15 with a successful Markman we should make a decent return here let alone more possible settlements from the bigger fish.
Postyle, with all due respect knowing your experience with IP litigation, Fish and Richardson are not dreamers and did not sign on to defend BCYP after months of DD reviewing their IP and the parties infringing.
Fish & Richardson is a global law firm providing strategic counseling and litigation services to innovative clients who seek to protect and maximize the value of their intellectual property (IP). With more than 375 attorneys and technology specialists practicing IP strategy and counseling, IP litigation, and business litigation, Fish is known for its superior technical expertise. Fish has been named the top patent litigation firm in the country for eight straight years, a premier IP firm for America's biggest companies, and an elite top tier law practice. For more information, visit www.fr.com or follow @fishrichardson on Twitter.
EDVA's response to your post:
Thanks for your post Tom. We are not sure of the commercial viability of the company’s own products or the ability of the company to reach meaningful commercial scale, etc. What we do know is that good technology can scale very quickly and that distribution of new social media technology through existing social media channels (which would be done via a license deal or “partnership”) can happen quickly and create almost instant access to large addressable markets. Again, we have no idea how quickly or effectively BCYP can do this, if at all, or what it’s plans are. We continue to monitor this through developments but really don’t have significant visibility into the question (yet). We don’t feel that BCYP fits the label for NPE or Patent Troll but in any event do not think such labels have much to do with these questions. (We avoid use of the latter term as it assumes that suing to collect on patents is a bad thing if it is done by somebody who is not in an operating business, a view to which we do not subscribe but for reasons that are not related to our investment efforts and thus not worth debating).
In trying to analyze whether the company’s recent debt and warrant restructuring made sense, we started off thinking, as you did, about whether the company could have raised new third party money to buy back the debentures. Sure, they could have done this for $.10 per share, as you suggest, but they would likely have needed to pay an investment banker and the investor may have required warrants, as well. By causing the conversion of the notes at $.13 per share BCYP did better than the $.10 you posited and issued no new warrants. As we blogged earlier, the reduction of the warrant price to $.05 was part of the deal and was needed to create an early cash exercise…it should result in $1 million in new cash. We think the net effect of the whole thing is that the company got rid of its debt and cleaned up its balance sheet in a way that is better than it would have by going to a new investor. In addition, LMD Capital appears to be a longer term investor. If they had wanted to sell the shares underlying their warrants at a profit they could have done so much earlier at greater profit. We think we are better off with them as a stockholder than, say, a typical NY hedge fund with a short term focus (and we have seen plenty of those). A look at Steven Solomon’s (LMD) background should show you that he is a smart businessman with an interest in cultivating investments to their true potential, where profit may be far more substantial than a quick turn. He also appears to work in the best interests of the underlying company which he tries to align with his own, another big positive. One example of that was his willingness to drop the provisions collateralizing the BCYP IP. He knew that such a position would stunt the growth of the company and thus his investment. Lastly, he is based in Dallas, along with Blue Calypso, and our suspicion is that he and Levi may move in some of the same circles and while that doesn’t necessarily mean anything, it does means that the relationship between companies and principals is more easily cultivated.
BTW, we are not confused about the role Merriman plays. Not sure where the company got its advice on this restructuring – they did not indicate any formal use of an investment bank – but we suspect that they got advice (if informal) from their usual advisors and we are quite satisfied with how they handled this. Our group includes folks we think are quite qualified to critique a public financing and, miracles aside, we think BCYP executed this pretty well.
Thats who Im sure EDVA is talking about in his latest comments.
Agreed! Im pretty excited to see there not just going to litigate their IP and have a revenue generating business plan going forward. It will also eliminate anyone trying put an NPE tag on them. This looks better everyday and the market seems to agree. Nice volume this morning also.
Joe is a trader and will pump one minute and bash the next. Here is his quote regarding WDDD just 7 days ago
"The company has been managed no better than a neighborhood tree-house club for kids. Fair value is .10 cents at best IMO and that's a stretch."
Ignore him!
OK, so we are halted!?? Anyone??
EDVA chiming in:
http://edvapatent.wordpress.com
What comes to mind is when EDVA called and was told the company is in a "Quiet period". When in a quiet period companies will only give out the bare min. of information that is required which could be the reason for so little coming from BCYP. All speculation of course and would love to hear from EDVA on the matter.
Could they be cleaning up the books for a possible take over??
Thanks for sharing expediter13! Hope your right, I own a boat load myself and believe the same!
GLTA
Thanks for the response Mt.Mom. I hope it is MM antics because I would think a group or individual that holds that many shares would know what they own. Day traders don't usually buy large positions from my experience. Someone with level 2 could confirm but over the last week there have been several large block sells of 100K up to 400K which always make me a little uneasy.
BCYP looks like the perfect take out candidate at this point so these sells make no sense at all unless it is just MM's trying to shake the trees.
Well somebody doesn't agree with ZACKS . Who is dumping these large blocks everyday? This is the kind of activity that drives me nuts. We all think it's a no brainier buy yet someone who has a ship load of shares is unloading day after day. UHG
EDVA response on Yahoo
EDVA was asked if he preferred WDDD or BCYP near term and gave a great response:
They are both great stocks alafrinkebama. I know you didn't ask me the question but I happened to check over here this morning and thought I would give my impression. Would love to hear Jim's also. WDDD has a catalytic event coming October 17 with the MSJ hearing in Boston. As many people know, Worlds received notice from the USPTO that certificates of correction on the priority date, at the heart of Activision's MSJ motion, have now been issued to Worlds. Importantly, the judge can still decide to side with Activision. Given the certificates of correction however, we put the chances of that at less than 10%. An added investment in WDDD offers the possibility of a rise into that hearing and almost certainly a nice move should the Judge reject the MSJ as we expect. Granting an MSJ is not a decision this Judge needs to stick her neck out to make. She can leave it to a jury or this can be taken up on appeal.
For BCYP, unlike many of the patent cases that we both have followed, settlements are coming before many shots have been fired. This is extremely validating for BCYP. The space within which they operate is expected to grow to $8B by 2016 and at a rate that is 3-4 times more traditional social media ad spends. On July 24th FB announced some pretty great quarterly news and the stock has risen above $45 for the first time since the IPO. Buried in that news was the simple line "mobile advertising is now 41% of advertising revenue." They are not the only companies experiencing the Ad sea change to mobile. We also know that statistically P2P endorsements provide the greatest % of product sale conversions. The confluence of these facts and trends should be like smelling salts to even the most jaded investor. The simple fact is that there are too many good reasons and too many motivated parties that have an interest in removing the threat that BCYP's patents pose. Whether we see more settlements or a buyout offer is unclear, but in our view they're coming. Less
LOL, if HJJ has time to read the Yahoo MB and take any post there seriously, we are BIG trouble! Not a chance.
Just doubled my position. Had to take advantage of these sale prices.
Great post Cooler! I totally agree 100%
Right on the money JJ! That is exactly how HJJ is handling this w/a and to the benefit of VRNG and it's shareholders. Excellent summary!
Everyone enjoy the start of the NFL season tonight! Im off to Buffalo Wild to tip a few with a dozen wings and enjoy the game!
Bring on the appeals! Laches and jury error fix spells max pain for Google! We may have to wait till next year to get paid but the hundreds of millions more that Google will have to pay due to not cooperating or settling will be so worth it at this point.
Anyone who had even the slightest thought that Google had a w/a I hope this puts it to rest. That was the best read from VRNG I have read. Great summary of all the game playing and thumbing of the noise to the court! Time to throw down the gauntlet HJJ !!
New EDVA blog:
http://edvapatent.wordpress.com
Thank You very much JJ !! VERY mucho appreciated!!
Here here to that! EDVA nailed this settlement. Just a few weeks back his critics were bashing him for missing a pacer doc on VFF as if he is the babysitter of our investment. His group provides great in depth DD that is offered for free but their not there to watch every minute of the day telling us when to buy or sell. Great call EDVA!
New EDVA blog. Values deal at possibly 1.50 / sh
http://edvapatent.wordpress.com
Since they dismissed before announcing anything....could this be a buyout? Pure speculation but would make sense.
I smell settlement!
Looks like no settlement soon with the ZTE suit.
http://www.natlawreview.com/article/english-high-court-rules-patent-issues-should-be-tried-fair-reasonable-and-non-discr
Exactly JJ! This why I believe Google settles sooner then later. They are backed into a corner and will save face and money by ended this asap. GOOG has delayed this for so long some people won't even entertain the possibility of settlement anymore but thats not how it works. They played the game well by stringing this out as long as they could but it's time to end it.