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BXTI not a valid symbol ?
Closed @ $0.08
NITE is the bandit! I don't know where he's getting all those shares to sell.
I think @ $0.006 It's a steal.
Yes bought that few weeks ago . I remember this one cost me some $$$ so this time I'm ready to bail if I see any sign of weakness.
LGOV @ $0.16
I have a GTC limit sell for SMTR @ $0.40 I think it will fill this month.
I only read their messages but I don't post on RB just here on IHUB .
from RB
Buyouts, Takeovers, Mergers in Banking sector to continue.
The WAVAP [Dividend Equalization Preferred shares, no par value] show 97 million shares issued and outstanding at March 31, 2005 [w/ 98% owned by WB].
Sould/when any WB take-over happens the WAVAP shares 'NO PAR' value will have intrinsic value based on the value of the WB common shares [currently @ $3.33-1/3 par value].
The trading speculation now is based on the 'Intrinsic factor' so the recent high volume in conjunction with the upcoming trading days is what could move WAVAP.
Based on the % movement in relation to the shares in the float WAVAP really could explode 10,000% from Friday's close.
This afternoons price range and trading action will paint a clearer picture.
SMTR unreal still holding my long term shares.
SMTR nice HOD WAVAP maybe another BXTRR .
AEXCA news!
Ampex Corporation Reports Delay in Filing 2004 Form 10-K
Friday April 15, 5:53 pm ET
REDWOOD CITY, Calif.--(BUSINESS WIRE)--April 15, 2005--Ampex Corporation (OTCBB:AEXCA - News) today announced that it will be late in filing its 2004 Annual Report on Form 10-K with the SEC, which is due today. The Company currently expects that the Report will be filed early next week. The Company stated that the delay in filing was due to the inability of the Company's former auditors to complete their audit of the Company's restated financial statements to be included in its 2003 Form 10-K/A. Once completed, the Company will then file its 2004 Form 10-K. The Company expects the audit reports for both 2003 and 2004 to be unqualified. As previously reported, the Company was required to restate its 2003 financial statements, as well as its quarterly financial statements for the interim periods ended March, June and September 2004, to correct the accounting for the pension obligations of a former subsidiary that was sold in 1995.
Ampex reported preliminary unaudited 2004 financial results on March 31, 2005. On April 10, 2005, the Company was notified that its estimated share of costs to be incurred to remediate environmental damage at a disposal site used by its former Media subsidiary had increased by approximately $700,000 from amounts it had previously recognized. As a result, the Company increased its Loss from Discontinued Operations by $700,000 to a total of $2.1 million for the year ended December 31, 2004. While there has been no change to reported income from continuing operations of $48.5 million or $12.73 per diluted share for the year ended December 31, 2004, the Company now reports Undistributed Income Applicable to Common Stockholders of $46.4 million or $12.17 per share as a result of the adjustment discussed above. All other amounts reported in our press release dated March 31, 2005 remain unchanged.
Ampex Corporation, www.ampex.com, headquartered in Redwood City, California, is one of the world's leading innovators and licensors of technologies for the visual information age.
This news release contains predictions, projections and other statements about the future that are intended to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of l995 (collectively, "forward-looking statements"). Forward-looking statements relate to various aspects of the Company's operations and strategies, including but not limited to the effects of having experienced significant losses in the past and the risk that the Company may incur losses in the future; the Company's limited liquidity and significant indebtedness and interest expense; its sales and royalty forecasts for future periods not being attained, and the risk that the Company will not conclude additional royalty-bearing license agreements covering its digital technologies; the Company's marketing, product development, acquisition, investment, licensing and other strategies not being successful; possible future issuances of debt or equity securities; the possible incurrence of significant patent litigation expenses or adverse legal determinations finding the Company's patents not be valid or not to have been infringed; new business development and industry trends; the possible need to raise additional capital in order to meet the Company's obligations; reliance on a former affiliate to make contributions to the Company's pension plans which are substantially underfunded; and most other statements that are not historical in nature. Important factors that could cause actual results to differ materially from those described in the forward-looking statements are described in cautionary statements included in this news release and/or in the Company's reports from time to time filed with the SEC. In assessing forward-looking statements, readers are urged to consider carefully these cautionary statements. Forward-looking statements speak only as of the date of this news release, and the Company disclaims any obligations to update such statements.
--------------------------------------------------------------------------------
Contact:
Ampex Corporation
Karen L. Dexter, 650-367-4111
AEXCA Closed @ $32.20 down 5%
Amazing $0.12 now good for u bro! Just make sure to lock in your profits.
AEXCA low $20's next week maybe. SMTR I'm holding for 6 months or more. BXTRR be carefull with that one make sure to take profits if u have some, Don't hold it overnight.
AEXCA closed @ $34 down 8%.
TNOG 0.008 Gapper!
Nice ! TNOG 0.006 now
It does not make any sense! But it may be a good speculative buy just in case it goes to $4.00.
AEXCA @ $35.00 down 6% . Xybre amazing saw that yesterday but I did not buy. I think It's too late now.
It looks like the naked shorters are being forced to cover.If that is the case tomorrow will be better.
I like this part: [Ampex] can go after Motorola (MOT ), Nokia (NOK ), Samsung and all those guys. It's hard to sell a phone that doesn't have a camera.
I'm just waiting for some big news from any of those guys EK, MOT or NOK then I will get back in.
Up 23% for the day! not bad ! I agree major squeeze is coming.
I wonder why It's down 34% with that news! GSHO nice @ $1.80.
FDMLQ and OWENQ are both in bancruptcy because of asbestos liabilities.
The Patent Guy
Companies turn to lawyer Ron E. Shulman when bedeviled by infringement suits. Here he discusses such legal action's high costs to society
As a patent lawyer based in Silicon Valley, Ron E. Shulman is one of busiest people in the tech industry. Shulman, a partner in the Palo Alto (Calif.) office of Wilson Sonsini Goodrich & Rosati, specializes in defending companies against infringement lawsuits. The value of intellectual property continues to rise in the Information Age, so patent lawsuits have doubled over the last decade.
Last year there were 3,075 infringement actions filed in federal court, up 9% over the previous year. Shulman himself is working on 11 cases. Spencer E. Ante, BusinessWeek's Computers editor, recently spoke with Shulman about patents and the flurry of suits filed by Ampex Corp. (AEXCA ). The following are edited excerpts of their conversation:
Q: What kinds of things can be patented?
A: A patent can cover a new method of doing something, or a device or a compound. It allows you to exclude everyone from using the patent.
Q: How long are patents enforceable?
A: [If the patent was filed before June 8, 1995], you have your choice: It's either 20 years from date of filing or 17 years from date of granting.
Q: What kind of damages can you collect from a patent infringement judgment?
A: If you win, you are entitled to an injunction. If the patent is expired, you don't get the injunction. If you win in the International Trade Commission court, you can get an "exclusion" order. [Because of that] you can collect damages going back six years from filing of the complaint. There are some exceptions. Damages don't begin until a company is on notice. If a patent owner lulled an infringer into thinking it wouldn't be sued, it is a defense. The damages include lost profits or a reasonable royalty.
Q: How can companies defend themselves against patent suits?
A: There are two defenses that involve prior art [the entire body of knowledge from the beginning of time to the present]. One is anticipation: Most commonly, the patent is invalid because the invention was anticipated. The second is obviousness: The invention would have been obvious. Another is called inequitable conduct, or fraud on the patent office. You can't, for example, withhold prior art or [fail to] fully disclose the background of the patent.
Q: Do you think Eastman Kodak (EK ), which Ampex is suing on patent infringement grounds, will settle?
A: Kodak is going to fight fiercely. If it has a future, it is in digital photography. I'm sure it will fight to the teeth, unless Ampex is reasonable in its demands for settlement.
Q: How do you determine royalties for a judgment?
A: The law lists a bunch of criteria for determining royalties. It is based on a "hypothetical deal" standard. In the electronics area, it's rare that you get more than a 10% royalty. Typically, it's 1% or 2% of sales. You should assume they are going after a royalty of 1% to 5%.
But it depends on what you decide is the royalty base. Is it the whole price, or part of the price? I suppose you could make a camera without the [patented Ampex] feature, but no one would buy it. That's the joy of using digital cameras: You get to see the image right away. Royalties may also include what are known as "convoid" sales. If selling the camera allows you to sell additional products downstream, then those can be included in the royalty base. That will certainly be explored by the plaintiff.
Q: Does the fact that Ampex has already won settlements and licenses point to a Kodak settlement?
A: Ampex will try and rely on that. [The past settlement history] is pretty persuasive stuff. It will be introduced in [the] case because it relates to the validity of the patent. It is some evidence of commercial success. And commercial success would be evidence of nonobviousness. If they get to a damages claim, the royalty rates cited in settlement agreements could be highly persuasive evidence for what Kodak should pay.
Q: In Silicon Valley, how is Ampex viewed these days?
A: Ampex is basically a research shop. Ampex is viewed as a slightly more civilized version of a patent terrorist. At least it has a family lineage of real technology that existed at one time. People respected Ampex. It did real stuff. [Now] what it is doing is no different from what other patent trolls do.
Q: Is so-called patent trolling on the rise?
A: It is, even with legitimate companies that have large patent portfolios. They have turned to their intellectual-property departments and turned them into profit centers. Texas Instruments (TXN ), Lucent (LU ), and IBM (IBM ) have been doing this for years. Plus, the damage awards are huge. [The practice] has grown more vigorously over the past 10 years. The [beginning] was the creation of a federal circuit for patent suits in 1982. Patents are a powerful economic weapon. People sue left and right. The outgrowth of that is patent holding companies. They're like venture funds. They go around holding people up for lots of money.
Q: What is the cost to society?
A: Most people suing didn't do any of the invention. Money isn't going to the inventors. There's no socially useful purpose. It's a waste of resources. Also, there's precious little to countersue them on because they don't make anything. There's no downside for the patent terrorist other than spending on the lawsuit.
Q: Is there any way to curtail the lawsuits?
A: Not without legislation. That would be very difficult to do. Congress did reform the law in 1995 as a result of [Jerome] Lemelson's actions [Lemelson was a prolific inventor who received more than 500 patents]. He did nothing but file patent applications. He has the largest number of issued patents. He acquired patents in key areas of technology such as bar codes. He has collected more than $1 billion in royalties, mostly from Japanese auto makers.
As a result, Congress changed the patent expiration dates from 20 years from filing, to 17 years from granting.
Q: Who else could Ampex sue?
A: The major digital photography companies will be targeted. Computer companies could be targeted. I can't say for sure since I haven't reviewed the patent. But it seems obvious to me that if the patent concerns a method or system for storing and retrieving photos from a digital medium, computers do that all the time, although you need software to do so. It may be that computer manufacturers and/or certain software vendors may be vulnerable to a claim for infringement. [Ampex] can go after Motorola (MOT ), Nokia (NOK ), Samsung and all those guys. It's hard to sell a phone that doesn't have a camera.
FDMLQ is a better buy than OWENQ since FDMLQ is included in the Reg SHO list. Major Squeeze will happen IMHO!
http://www.nasdaqtrader.com/aspx/regsho.aspx
OWENQ amazing today,Watch FDMLQ also! both Asbestos play!
UPDATE 1-U.S. asbestos stocks up as senators near fund deal
Tue Apr 12, 2005 05:30 PM ET
(Recasts, adds details, byline, analyst quote; changes dateline, previous WASHINGTON)
By David Brinkerhoff
NEW YORK, April 12 (Reuters) - Shares of companies facing asbestos lawsuits soared on Tuesday after the chairman of the Senate Judiciary Committee and the ranking Democrat said they were close to agreement on legislation to compensate asbestos victims.
Pennsylvania Republican Arlen Specter and Vermont Democrat Sen. Patrick Leahy both spoke optimistically of the prospects for legislation to create a $140 billion U.S. fund to pay asbestos claims.
With thousands of lawsuits pending against them in courts, a handful of bankrupt manufacturers like W.R. Grace & Co. GRA.N> got a big lift on rising hopes the fund will be passed, helping them pay claims and exit Chapter 11.
"The bigger your problems, the bigger your rally today," said Charles Gabriel, an analyst with Prudential Equity Group LLC. "Investors have sensed deep value in these companies if we ever get a global settlement in asbestos."
Shares of bankrupt W.R. Grace & Co. closed up 32 percent at $10.63 on the New York Stock Exchange.
Bankrupt Federal-Mogul Corp. (FDMLQ.OB: Quote, Profile, Research) shares rose 11 cents, or 33 percent, to 46 cents on over-the-counter Bulletin Board trading.
Shares of USG Corp. (USG.N: Quote, Profile, Research) rose $8.63 a share, or 24 percent, to $43.90.
Fibers of asbestos, used in building materials, are linked to cancer and other diseases. The issue has cost companies billions in claims and prompted some to file for bankruptcy protection.
Specter has been negotiating with members of both parties on a draft proposal for the $140 billion fund, which would be financed by companies facing asbestos lawsuits and their insurers, who would be rewarded by having their liability capped.
Clinching Leahy's support has been key to Specter's hopes for getting the fund proposal out of his committee and improving its chances on the Senate floor. Specter has been struggling for months to get backing from both parties.
"This bill may become viable for the first time, but again we have to wait and get through the end of this day," Gabriel said, adding, "We're still skeptical ... This could be totally reversed tomorrow."
AEXCA @ $37.25 not looking good. SMTR has a good long term potential I'm keeping some shares for long term 6 months or more.
$0.054 HOD now got some @ $0.052
OT NCDP $0.024 now
k! Matsushita Electric is added . Thanks.
Thanks for the reminder.
AEXCA News !!
BusinessWeek Online
How Ampex Squeezes Out Cash
Friday April 8, 4:45 pm ET
Just a couple of years ago, Ampex Corp. (aexca.ob.OB) looked like a long-fading technology pioneer finally slipping into oblivion. The Redwood City (Calif.) company, founded in 1944, proved itself one of Silicon Valley's greatest innovators in its early days. Among other things, it invented the commercial video recorder in 1956 and developed the first U.S. tape recorder in 1948. But Ampex lost its magic touch decades ago. A string of new ventures flopped. After losing money for years, Ampex was dumped from the American Stock Exchange at the end of 2003, with its stock at 68 cents.
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Surprise, surprise -- Ampex is back. The forgotten innovator has one of the hottest stocks on earth, with the share price skyrocketing in the past year from $1 to $40. What happened? In a word, patents. Ampex dusted off a number of its patents and began filing lawsuits against a Who's Who of consumer-electronics giants, including Sony (NYSE:SNE - News), Sanyo Electric (NasdaqSC:SANYY - News), and Eastman Kodak (NYSE:EK - News). Ampex' claim: It holds the intellectual-property rights to how digital images are displayed in nearly every digital camera, camcorder, and camera phone on the market.
It's no empty bluff. Since last fall a string of Asian companies have cut licensing deals with Ampex, agreeing to pay a total of $77 million. Sony alone is spending $40 million for the right to use Ampex' patents through April, 2006, and then will pay ongoing royalties. The largest outstanding claim may be that against Kodak, which so far has refused to cut a deal. Ampex' prospects have improved to the point that the company says it will apply for a listing on NASDAQ by the end of April.
But this is no simple turnaround story. There are a number of unanswered questions about the continuing value of Ampex' patents and about the leadership of Edward J. Bramson, a press-shy British financier who serves as the company's chief executive. Bramson gained control of Ampex in 1987 when his investment firm, Sherborne & Co., acquired the company in a leveraged buyout for $479 million. Since then, Ampex has entered into a series of transactions with at least four investment companies Bramson owns or controls. In one case, Ampex lent two Bramson-controlled companies money to buy shares in Ampex. Then in 2002 the two Bramson entities defaulted on $2.8 million in outstanding loans. In addition, the Web site of one Bramson company said that he had worked at Goldman Sachs & Co., in corporate finance and mergers and acquisitions. However, after BusinessWeek notified Ampex that Goldman Sachs had no record of Bramson's employment, an Ampex spokesman said he had never worked for the Wall Street firm and that the statement would be removed from the Web site.
There are also questions about whether Ampex is disclosing enough information about its licensing deals. In filings with the Securities & Exchange Commission, the company provides the lump-sum payments from Sony and others. It doesn't disclose the actual terms of the licensing agreements or the expected ongoing royalties. It's unclear whether that violates SEC rules. However, some governance experts say it could leave investors in the dark about the company's financial prospects. "I think they should file the whole agreement," says Kevin J. Cameron, president of Glass, Lewis & Co., a research firm in San Francisco that analyzes issues of corporate integrity. The Ampex spokesman declined to comment on the issue.
Ampex has taken a step toward broader disclosure in recent days. On Apr. 5, during a rare public appearance, at an investor conference in San Francisco, Bramson gave estimated expiration dates for four groups of patents and a breakdown of royalty revenues from digital cameras, camcorders, and other devices. He also said that camera-equipped cell phones will provide a major opportunity for future licenses. "We notified the makers (of camera phones) at the end of last year, and we're starting discussions with them this year," said Bramson. He did not estimate total future royalty payments for the company.
Digital Gold Mine
Ampex' flurry of lawsuits is one example of the intensifying debate over intellectual-property rights in the U.S. As patent-infringement lawsuits have soared in recent years, critics have railed against what they call "patent terrorists" and "patent trolls," and complained that the litigation is a tax on innovation. "There's no socially useful purpose," says Ron E. Shulman, a lawyer at Palo Alto law firm Wilson Sonsini Goodrich & Rosati. Patent advocates disagree. They say patents are essential to protecting innovation and point out that many respected companies, including IBM, have been cashing in on them for years.
While Ampex has come under fire for its aggressive pursuit of royalties, there's no question its patents have become a gold mine. One patent covers the display of compressed digital images, individually or in a group of up to 16. Nearly every digital camera, and many other devices, let people view such thumbnails to help them navigate through a series of images quickly. Royalties from that broad patent helped Ampex turn a profit of $47.1 million in 2004 on revenues of $101.5 million, according to its preliminary financials, after losing money the five previous years.
A deal with Kodak could mean another rich payday. Kodak, which declined comment, was the top seller of digital cameras in the U.S. last year, with 21.4% of the market. J.M. Dutton & Associates, an El Dorado Hills (Calif.) research firm that charges Ampex and other companies it covers for research, estimates Ampex could bring in $275 million in royalty income over the next four years. Dutton's Richard W. West, the only analyst covering Ampex, has put a 12-month price target of $77 on the stock.
But a close examination of Ampex' financial and legal documents raises questions about how to predict the company's performance accurately. In its court filings, Ampex specifies only one patent that it claims has been infringed: U.S. Patent No. 4,821,121, typically referred to as the 121 patent. This is the patent that covers technology allowing people to view thumbnail images of photos rapidly. But the patent, granted in 1987, expires on Apr. 11, 2006. Bramson said in his presentation that that patent accounts for all the royalties Ampex is getting from digital camera sales.
Ampex says it holds more than 600 other patents, and royalties from those may be substantial in the future. The company says its other patents cover digital image processing, data compression, and image decoding, and those claims expire between 2012 and 2014. But it does not reveal which patents companies are licensing, beyond the 121 patent, and the specific terms of any agreements.
The company's lack of disclosure may run afoul of SEC rules. The commission requires companies to file a summary of commercial agreements at the time a deal is struck and the full agreement with its next quarterly statement, if the agreement is "material." There are exceptions to the rule, including measures to protect trade secrets. But experts are skeptical that something like the Sony deal, accounting for 40% of Ampex' revenues last year, would not have to be explained to investors. "More extensive disclosures may be required," says James R. Doty, a securities lawyer with the firm Baker Botts.
Can Ampex keep its stock soaring? Perhaps. But to do so, the company may have to give investors a closer look at its tightly guarded patent deals.
By Spencer E. Ante in New York, with Justin Hibbard in San Francisco
AEXCA needs to do a forward split or else it will be trading flat.
OT ,DVID I Don't know why it's going up! I'm not In.
TraderFx , I use Etrade as my broker and commission is not an issue for me since the commission is fixed regardless of the size or number of shares being traded. Usually for OTC stocks it takes me 2 to 3 trades to fill a position especially when a stock is about to run. Trading on major exchanges is easier for me because it has more liquidity. I don't recommend Etrade as a broker, I'm only using it because I'm already familiar with their platform.
Amazing $0.40 now .
I think the odds are good it should be trading above $2.00.Still holding half of my shares. IASCA is amazing today.