Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
A good point to ask management. Maybe they have something in mind to integrate some patents into their ringtone business?
I paid .50 -60 for my first shares but that company is not this company. Of course it would be nice if it was $4.00 but this will not move until we get clarity from the judge it is as simple as that. No amount of complaining will change this.
ASk Gilford Securities they have a $65 target on VHC
In a report published Friday, Gilford Securities analyst Robert V. Tango, Jr. reiterated his Buy rating and $65.00 price target on VirnetX Holding Corporation (NYSE: VHC [FREE Stock Trend Analysis]).
In the report, Tango noted, “Four key aspects were to be examined: infringement, validity, willful infringement, and damages. Yesterday the Jury determined Cisco did not infringe (improperly utilize VirnetX technology in prior years - primarily desktop enterprise solutions); however, the Jury concluded all respective patents (‘135, ‘211, ‘504 and ‘759 via JMOL) are valid (decisions re willful and damages were not necessary as a result of the infringement determination). During the previous three years, it was determined via jury trials both Microsoft and Apple infringed (same/similar patents and principles); additionally, Aastra, Mitel, NEC, and Siemens settled, indirectly implying these players may have infringed as well - despite great success, yesterday's decision came as a surprise and demonstrates the nuances and risk of a jury trial.”
VirnetX Holding Corporation closed on Thursday at $25.75.
Read more: www.benzinga.com/analyst-ratings/analyst-color/13/03/3420396/gilford-securities-reiterates-buy-on-virnetx-holding-cor##ixzz2OqGBO900
They have been public more then seven months.
In general I agree with you however I think many people should really consider what this company does and how they increase shareholder value. What they are not is a manufacturer, they don't sell anything, notwithstanding facetones which is not really relevant. What they actually do is acquire patents and try and monetize them by striking licensing deals or through litigation. So far they have successfully sued and won a lawsuit versus Google , final resolution to be determined, second they have filed several lawsuits against ZTE in Germany and the UK involving some of the 500 Nokia patents they bought in August. Further they have sued Msft after the jury declared their patents valid and enforceable. Finally they have purchased several additional patents and set alliances which will be exploited. This is how they increase shareholder value. The problem is these efforts take time to bear fruit. People talking about Vringo not trying to increase shareholder value should try and understand what this company does first. They have been a public company for less than 7 months.
Thanks for the legal perspective no offence taken. I do expect Google to seriously consider settlement if the Judge affirms the jury verdict and sets a 5% royalty rate. They would not be setting a precedent for future litigation because they would only pursue settlement if at all under those circumstances. I am a long-time trader/investor and people can be brave about shorts or longs as long as profits are there, when they vanish which I believe will be the case under my scenario, (with Institutions buying in) I don't see most shorts hanging in. BTW not sure if you are others are aware of this but Ashley Keller our new Director has set-up up a new $100 million dollar fund. Therefore he could be a source of buying
From Vringfreeboards
Ashley Keller on VRNG Board of Directors and the Intellectual Property, Compensation and Audit Committees.
Mr. Keller is a former partner at Bartlit Beck Herman Palenchar & Scott LLP. Earlier in his career, he clerked for Justice Anthony Kennedy at the Supreme Court of the United States and Judge Richard Posner at the United States Court of Appeals for the Seventh Circuit.
He is a co-founder and current Chief Investment Officer of Gerchen Keller Capital LLC.
Gerchen Keller Capital - $23.5 - $100M FUND
Two different sources
FIRST SOURCE - $23.5 MILLION
www.formds.com/issuers/gkc-partners-i-lp
Link to Raw Filing http://www.sec.gov/Archives/edgar/data/1....primary_doc.xml
SECOND SOURCE - $100.00 MILLION
http://www.altassets.net/private-equity-....- in-april.html
Published Mar 20 2013 by AltAssets.net
Gerchen Keller Capital to close $100m first fund in April
Chicago-based private equity firm Gerchen Keller Capital is set to launch a $100m fund in April, AltAssets has learned.
A source with knowledge of the situation told us that the firm has received commitments of over $100 and plans to hold a final close of the fund on April..
I don't think the timing or delay of Judge Jackson's rulings on the JMOL's indicates anything about the ultimate outcome of those motions. I think it probably means that there are a couple (or many) other cases that are getting the rocket docket treatment because they have not been tried yet, and they therefore are getting the priority of his attention. I think all the motions are sitting on his desk, fully briefed, and that he will come in one weekend and bang out orders on them all. I don't think it will be forever before he does that, but it does seem like forever. I still think that Judge Jackson will ultimately deny the JMOL's because I think there was sufficient evidence at trial to support the verdict. However, Yogi was definitely correct when he observed that "it ain't over til it's over," so of course, anything can happen. Any given Sunday, and all that.
Short situations like this only work when you have a stagnant or declining stock price like this has been. I feel many buyers will move in when the threat of Google wiping out the jury verdict is removed. Shorts will not watch their profits erode in that scenario. Institutions will not be concerned with time-frames or appeal situations because Google will be going after a reversal of a jury verdict and a Judge re-affirming that verdict. Also there is no guarantee that their appeal will be accepted.
Long odds, they may try it but their chance is slim, I do see Google settling with Vringo if these events occur.
However I can see (shorts) re-entering their short positions under your scenario at higher prices but I doubt many of the 15 million shares now shorted will still be active, some but most not.
mm's do take out stops as needed when they get too short a stock, bear raids usually happen just before an expected event like a pharma FDA approval etc. The event here is unknown as to timing they may get a small heads up but not enough to execute a raid.
I agree with some of your comments but I do not believe the downward pressure will persist once the chance to squash the case is not on the table. As a short there would be nothing in the following verdicts that will be favorable to them (My opinion only). Remember Google is willfully infringing as of the jury verdict, once affirmed the Judge will compensate Vringo by possibly increasing the royalty rate to 5 or 7% but I think 5 is more likely. Why would you hold as a short, there is no big stick left and this will also embolden many on the sidelines to buy including institutions who want clarity like everyone else.
MM's always take a stock in the path of least resistance. Not enough buying to change their minds, but they probably have a large short position also and they may try or have taken out stops to gather shares , stop losses which only they can see where they are and how many.
Most shorts initiated at much higher prices, so they are comfortable for now. Only one ruling , my opinion, will get them scrambling, denying Google's JMOL motion should put most, but not all the shorts to the sidelines
Question for you. Where do you get a time-frame like this? What possible reason that you could think of would take a year or two to resolve?
This will resolved well before then. I expect news from the Judge by April end at latest based on my research. Not all motions but we will have news by then my opinion
First it is not an argument unless you are making it one. It is an opinion and your premise is incorrect. I was simply stating a fact captured here by Mark Hulbert
"sentiment is negative so the stock must go up, since the stock must go up rulings must be coming."
Very good ....we can all use some laughter..thanks for that..
Most people thought this was going to $10 + by now in November, check the posts. Sentiment is a contrary indicator, max bullishness November, check results, now pretty much max pessimism, check back in a few months for the answer...
On a macro level, most people get really bullish at tops in markets and overly negative at bottoms, it is human nature. There are plenty of studies that prove this point.
Your assumption is that he has done nothing with the motions for four months that is not how judges work.
Also lower prices on declining volume indicates shorts trying to lower cover level...
They know what will happen, pros are hedged with some calls, aggressive shorts will be destroyed the strategy has worked but they have not covered because they think prices are going lower, one ruling by JJ will change this perception.
I think the shorts are done here, they are going into the decisions with 15 million plus shares short and very little puts, lets see what happens if decisions start coming out especially JMOL which will be the match (assuming it goes in Vringo's favor)...
VHC? Yes of course once they obtain another win in court and I am sure they will , the stock will bounce back, it has done this before and gone up in price
VHC one of the leaders in the space and it does not help when it has been massacred from $32 to $18... different outcomes (jury verdicts) but sentiment is not rational
Oversold yes, but what stops this decay other than real news? Maybe there is news that Vringo can provide to lend some support but the reality is this judge could have made rulings as decisions were made by him or he could make them all at once. He is obviously going to send out almost all his rulings rapid fire whenever, which sucks. Most likely from what I have read in the new few weeks but no one really knows, don't you just love patent companies ... NOT
Well this is the first time that I can remember that the short position has not (essentially) changed in two weeks since the verdict.
Vringo, Inc. Common Stock VRNG 15,268,817 15,265,521 3,296
Just 3,296 shares shorted in the last 2 weeks. This still represents 11 days to cover at current volumes..
From Stocktwits:
"DR added he expects ruling on post trial motions, other than ongoing RR, 1-3 wks from now."
I agree with you regarding why they didn't move quicker if it was their intent to fight this anyway which it seems it was. The Chinese reports, well unless you speak Chinese I can't really trust what GEO translated so hard to say what the reporter actually said and how they said it. Yes they can't get a listing at under a dollar I believe. They can fix this easily if they wanted to by bidding up the share price to the desired level.
of course it would have.....but instead of filing a 10-Q, and responding to the exchange with immediate results and transparency, there is now a lawsuit that will probably drag out for years.....this is a GOOD CHOICE????
Why the hell didn't LPH provide a PR about the lawsuit before trading resumed on the graysheets
Additionally, Longwei was not notified by the New York Stock Exchange ("NYSE") until after market hours on Friday March 22, 2013 that the NYSE had filed an application on Form 25 with the Securities and Exchange Commission ("SEC") to strike the Company's common stock from listing on the NYSE MKT. However, the Company's stock began trading on the OTC Markets on Friday, March 22, 2013 under the symbol "LPIH" although the NYSE released a press release on March 22, 2013 stating that the delisting will become effective on April 1, 2013 unless postponed by the SEC.
Maybe the audit wasn't ready to be filed in time because they didn't get behind it early enough? The only comment from the two who resigned of note is that they, LPH refused to initiate an external independent audit. Since then it seems they are doing just that reading between the lines.
And LPH have decided to do that. Has their lawyer then advised them to take no further public action until the matter has been settled by the court of law? I don't know.
I am convinced, based on their past behavior, that LPH could easily comply with the NYSE requests. But maybe such an action would somehow compromise their legal battle. I am not a lawyer so I really don't know... but I am trying to separate out the trees from the forest and vice versa.
A reasoned opinion. You asked why the audit committee memebers resigned. Here is the answer in their own words:
January 28, 2013
Ladies and Gentlemen,
I hereby tender my resignation, effective immediately, as a member of the Board of Directors of Longwei Petroleum Investment Holding Ltd.
(“Longwei”) and Chairman of the Audit Committee.
As you are aware, on January 15, 2013, the Audit Committee resolved to undertake an independent investigation relating to certain
allegations made against Longwei by Geoinvesting.com and posted on the seekingalpha.com website.
The Audit Committee further resolved to engage independent counsel and forensic accountants in order to carry out such investigation. On the
same date, the Audit Committee submitted its request to the full Board of Directors and requested that the Board approve the Audit’s
Committee’s resolutions so that the Audit Committee could commence such investigation.
Despite these facts, the Board of Directors has so far refused to approve the Audit Committee’s resolutions.
As a result, I feel that I am unable to effectively carry out my duties as a member of the Board of Directors and Chairman of the Audit
Committee.
I hereby request that a copy of this letter be attached as an exhibit to the Form 8-K to be filed with the Securities and Exchange Commission
disclosing my resignation as set forth herein.
Sincerely,
Douglas D Cole
Dear sir and madam,
LONGWEI PETROLEUM INVESTMENT HOLDING LIMITED (THE "COMPANY") RESIGNATION AS NON-EXECUTIVE
DIRECTOR.
I, Xue xiaoping, hereby inform you my resignation as non-executive director with immediate effect.
I hereby confirm that I had no dispute with the Board and there was no matter in relation to my resignation that will need to be brought to the
attention to the shareholders of the Company and the Stock Exchange.
Also, I confirm that I have no claims against the Company whether by way of compensation, remuneration, severance payments, pensions,
expenses and any other sum for loss of office or otherwise.
Yours faithfully,
Xue Xiaoping
Love the volume today, price does not concern me but the volume is important if there truly is news around the corner as I suspect there is.
I take this increased volume as potential for news, shorts holding it down. I am of the view we may get something of note this week or next....
I agree your numbers could be more in line, I was trying to be conservative.
If you look at Tobinators analysis, the range of future royalty totals $690 million to $1.2 billion is a reasonable expectation. You have to discount these amounts because money today is worth more than in the future. The time-frame is only a few years so there should not be a huge discount. Also it is not in Google's interest to have another company look at their books every quarter to determine the proper royalty. Despite their bluster of filing appeals etc it is also in their interest to license Lang's invention, compensate Vringo for past use and move forward. The amount is absolutely inconsequential to them but this would be the best outcome. There might be some who question the message here, but the message is that Google has fought tooth and nail , even if they settle and in my opinion will not encourage "patent trolls" from attacking Google unless they have a very strong case. From Vringo's and us (shareholders) perspective, money in hand allows them to monetize their portfolio more aggressively and that is what they want to do. This is win/win. Will it happen, I don't know but this scenario is the best for everyone my opinions only obviously.
Very good report thanks. What is important to remember is that Googles revenues are estimates only, there is a high probability that the actual numbers are higher therefore more money to Vringo, unless of course Google comes to their sense and makes Vringo a reasonable offer($300-$400 million) should do it.
Not sure what the rush is to sell here. I have no shares to sell BTW. Just looking at the facts , they will trade OTCBB after April 1st there is more visibility there than grey markets. Also judging by the conduct of Carnes, what is the likelihood that any of his "evidence" that he has against Longwei will be accepted without having a forensic analyst review the "tapes" pictures etc to ensure they are not doctored. Actually both parties are subject to that. Carnes has a history of doctoring videos according to the FBI. The videos presented by GEO are time-lapsed and compressed with no date stamp other than at the edge which indicates doctoring. GEO said they were sending the other 46 days worth of tapes to the SEC and exchange. why didn't they ? If they did the exchange is not relying on them as no mention was made. Presumably if Longwei had two independent auditors and submitted their financials in time they would not have de-listed, which means that Geo's threat is bogus. If they know the tapes they have are doctored they won't offer them as evidence. Should be an interesting trial, I wish I could see it live.
One of the founding partners has been on many financial programs as an expert securities lawyer
What it will take is a victory in court, audited financial statements, compliance with all NYSE listing requirements to name a few points. One of the important points is if they can prove their defamation case against Carnes et al will this not help their case for re-listing assuming they can provide independently audited financial statements regarding their business?
You are not getting anywhere near $2 if these things don't happen. I am not saying that any of this will either but I do see a glimmer given Carnes involvement. I personally did not know of his involvement until I read the defamation suit. In it he basically admits to Longwei's lawyers through emails he is involved.
You should care about Jon Carnes aka Alfred Little because Longwei's lawsuit is predicated on his involvement with Geo Investing. Because this guy is already in a lot of trouble and by the research I have found will do anything against a short position he initiates including doctoring photos even perjuring himself which he did in the Silvercorp case. This case revolves around Little, to the extent his track record will be used against him this bolsters Longwei's case and chances for re-listing if this company is legit increase dramatically.
Jon Carnes' activities , could face 13 years in prison, he is a fugitive, this is the person behind GEO's article . Does he inspire a great deal of integrity?
The Latest U.S. Court Rulings: Perjury Charges Against Illegal Short Seller Jon Carnes: Permanent Injunction granted by the court (Sept 2012): The New York Supreme Court (Judge Carol Edmead) issued a permanent injunction against "Fatty Boy" Jon Carnes and his various affiliates relating to their willful defamation of a NASDAQ listed company "DEER". Jon Carnes committed perjury (Oct 2012): Jon Carnes was found to have provided false sworn testimony to the New York Supreme Court (Judge Carol Edmead) about his EOS Holdings's two trading accounts opened in New York with brokerage firms Rodman & Renshaw and Legend Merchants Group
THE FACTS AND MARKET ANALYSIS There is nothing wrong with either reverse mergers or IPOs: Reverse merger or Reverse Takeover ("RTO") is a very simple concept: A private company is merged into a public company and the private company controls the combined public entity. That's all. Reverse mergers take place regularly on all stock exchanges worldwide and are viewed favorably as a certain . Jon Carnes had previously stated in sworn testimony that he and his activities had no contacts with the New York State.
“Fatty Boy” Jon Carnes Arrested: Law enforcement in China has taken actions against short sellers involved in the illegal shorting of HRBN and other U.S. listed China based companies including NYSE listed billion-dollar company Silvercorp Metals (link) - China's largest silver producer. In July 2012, several individuals tied to a EOS Holdings (aka EOS Global Holdings) and its owner - Vancouver and Las Vegas based illegal short seller "Fatty Boy" Jon Carnes, a co-conspirator of Roddy Boyd (link: lawsuit in a New York court against Jon Carnes and his gang) were arrested in China
The Incoming Prosecution of the Jon Carnes Crime Family: The government evidence: During the arrests of several short seller conspirators involving Jon Carnes's gang members, China's national intelligence agency – the Ministry of State Security (MSS) uncovered extensive evidence of collusion, distortion of basic facts, computers with extensive doctored photos, spy equipment, emails and Skype communications, bank records and secret espionage listening/video devices
payments made to write knowingly false and negative articles among illegal short seller hedge funds,
kickbacks and curious close relationships with the head of China practice at a New York based accounting firm, which audits more than a dozen U.S. listed China based companies, of which, mysteriously, a high percentage were attacked by the same group of short sellers. Also discovered by law enforcement were collusion and payments made to tabloid writers/conspirators including Roddy Boyd, Jon Carnes, Andrew Left (link - mug shot from his arrest and Andrew Left's history of defrauding investors (link), as well as their links to many coordinated articles written by identified reporters at several financial media organizations including the Barron's magazine, a self-promoted broadcaster at CNBCTV, a reporter at the Financial Times and Israel
The Jon Carnes Fugitives, Jon Carnes’s Offshore Funds Exposed: Investigations reveal that short seller Jon Carnes, his Chinese wife Liu Li (a fugitive, co-conspirator and the Chief Financial Officer of Carnes' EOS Holdings, aka EOS Global Holdings) and several others are currently headquartered Seeking Alpha.com. Such massive and coordinated naked short selling schemes that took place in the U.S. markets against China have cost American public shareholders billions of dollars.
A Business Week article titled Short Seller Drops Muddy Waters Model for SEC (article link) describes the brazen acts of illegality and "short and distort" schemes orchestrated by these illegal players. In the article, Jon Carnes admitted what former FBI agents have uncovered - Jon Carnes is short seller "Alfred Little.com," a fictitious name that had published false articles against many companies in his admittedly successful effort to make millions of dollars in profits while causing at least $500 million in losses to American shareholders of Silvercorp (article link) alone.
Read my previous message about Jon Carnes his activities and how he could face 13 years in prison, he is a fugitive, this is the person behind GEO's article . Does he inspire a great deal of integrity?