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Anyone holding AAPL 640C over weekend?
Thanks for posting that.
Vringo and Innovate/Protect Sign Definitive Merger Agreement
www.vringoip.com/
http://www.prnewswire.com/news-releases/vringo-and-innovateprotect-sign-definitive-merger-agreement-142600036.html
Merger Expected to Enhance Technology Leadership and Portfolio of Intellectual Property
Andrew Perlman Named CEO of Vringo
Vringo and Innovate/Protect to Host Conference Call to Discuss Announcement
NEW YORK, March 14, 2012 /PRNewswire/ -- Vringo, Inc. (NYSE Amex: VRNG), a provider of software platforms for mobile social and video applications, and Innovate/Protect Inc., a company that maximizes the economic benefits of intellectual property assets, today announced that they have entered into a definitive agreement to merge.
Through the strategic combination with Innovate/Protect, Vringo will substantially increase its intellectual property portfolio, add significant talent in technological innovation, and be positioned to enhance its opportunities for revenue generation through the monetization of the combined company's assets.
Innovate/Protect is the owner of patent assets acquired from Lycos, one of the largest search engine websites of its kind in the mid-late 1990s, with technologies that remain critical to current search platforms. Innovate/Protect's Chief Executive Officer and Chief Technology Officer, Andrew K. Lang, is the former Chief Technology Officer of Lycos and led the development of the patented technologies. In September 2011, Innovate/Protect through its subsidiary, I/P Engine, initiated a patent infringement lawsuit in the United States District Court for the Eastern District of Virginia against Google, Inc., AOL, Inc., IAC Search & Media, Inc., Gannett Company, Inc. and Target Corporation for unlawfully using systems that incorporate features claimed in two patents owned by I/P Engine. The patents relate to relevance search technology that is used in the search engine industry to produce better search results, and has also become the dominant technology used in search advertising to position high-quality advertisements. The Markman claim construction hearing is scheduled for June 4, 2012, and the trial is scheduled to begin on October 16, 2012. I/P Engine is represented by Dickstein Shapiro LLP, a nationally ranked intellectual property law practice headquartered in Washington, DC.
Vringo also announced today that Andrew Perlman, its President, has been named Chief Executive Officer, replacing Jonathan Medved who is stepping down. Mr. Perlman will remain CEO following the closing of the transaction.
The combined company will be led by a premier management team and Board of Directors with substantial and proven experience and expertise in technological innovation, licensing and intellectual property protection. In addition to Mr. Perlman, Mr. Lang will serve as President and Chief Technology Officer of Vringo. David L. Cohen joins the company as Special Counsel after serving at Nokia, where he was senior litigation counsel. Alexander R. Berger, Innovate/Protect's Chief Operating Officer and Chief Financial Officer, will be Vringo's Chief Operating Officer and Secretary. Ellen Cohl will continue as Vringo's Chief Financial Officer and Treasurer. Clifford Weinstein, Vringo's Vice President of Corporate Development, has been elevated to Chief Communications Officer, and Josh Wolff will become Senior Vice President of Partner Solutions, overseeing partnerships, sales activities and the active engineering subsidiaries.
The Board of Directors of the combined company will be comprised of seven directors, three from Vringo and four from Innovate/Protect. Seth M. Siegel, a licensing industry leader and co-founder of Beanstalk, will continue as Vringo's Chairman. Mr. Siegel is now the co-founder and a partner at Sixpoint Partners. Vringo directors John Engelman, co-founder and CEO of Classic Media and former CEO of Broadway Video, and Andrew Perlman will continue to serve as directors. The board will be joined by Innovate/Protect directors H. Van Sinclair, President and Chief Executive Officer of the RLJ Companies, Donald E. Stout, founder of NTP, Inc. and a partner at the law firm Antonelli, Terry, Stout & Kraus, as well as Mr. Lang and Mr. Berger.
Andrew Perlman, Chief Executive Officer of Vringo, said: "The transaction with Innovate/Protect is a significant milestone as we continue to fulfill our stated strategic objectives, and serves as an important catalyst for Vringo's future growth. Combining with Innovate/Protect significantly enhances our creative and innovative capabilities. We are thrilled to add Andrew Lang, a pioneer and leader whose inventions have changed the way the world experiences digital media, as our new Chief Technology Officer. We believe that the combination of Innovate/Protect's litigation expertise and patent portfolio combined with our licensing experience and mobile-related patent portfolio will allow the enhanced Vringo to fully realize the potential of our joint intellectual property."
Mr. Lang said: "I am excited to lead the technology vision at Vringo and develop new mobile applications for distribution across Vringo's platform, taking advantage of our combined patent portfolio and talent pool. I believe that the new Vringo will have the creativity, talent, platform, intellectual property assets and capital to create shareholder value with both near-term high profile results and long-term strategic opportunities."
Upon completion of the merger, in exchange for all of the issued and outstanding shares of capital stock of Innovate/Protect, Vringo will issue (i) approximately 16,972,977 shares of Vringo common stock in exchange for all of the issued and outstanding shares of common stock of Innovate/Protect and (ii) 6,968 shares of a newly-created Series A Convertible Preferred Stock (which shall be convertible into approximately 21,026,637 shares of Vringo common stock) in exchange for all of the issued and outstanding shares of preferred stock of Innovate/Protect. In addition, at the effective time of the merger, Vringo will issue to the holders of Innovate/Protect capital stock and the holder of Innovate/Protect's issued and outstanding warrant (on a pro rata as-converted basis) an aggregate of 15,959,838 warrants to purchase an aggregate of 15,959,838 shares of Vringo Common Stock with an exercise price of $1.76 per share and the currently issued and outstanding warrant to purchase Innovate/Protect common stock shall be exchanged by the holder of such warrant for 250,000 shares of Vringo common stock and 850,000 warrants to purchase 850,000 shares of Vringo common stock with an exercise price of $1.76 per share. The newly-created class of Vringo Series A Convertible Preferred Stock to be issued in the merger will have the powers, designations, preferences and other rights as will be set forth in a Certificate of Designations, Preferences and Rights of Series A Convertible Preferred Stock to be filed by Vringo prior to closing.
Immediately following the completion of the merger, the former stockholders of Innovate/Protect are expected to own approximately 55.41% of the outstanding common stock of the combined company and the current stockholders of Vringo are expected to own approximately 44.59% of the outstanding common stock of the combined company (without taking into account any shares of Vringo common stock held by Innovate/Protect stockholders prior to the completion of the Merger and without giving effect to shares of Vringo Common Stock issuable upon conversion of the Vringo Preferred Stock or the exercise of warrants and options).
Completion of the transaction, which is expected to occur in the second quarter, will be subject to approval by Vringo's shareholders and customary closing conditions.
Investor Teleconference
The Company will host a teleconference on Wednesday, March 14, 2012, at 8:45 am EDT to discuss today's announcement.
•To access the live conference call, participants may dial 866-770-7051 or 617-213-8064, passcode 62161274.
•A simultaneous webcast will be available and can be accessed through the Investors section of Vringo's website at www.vringoinc.com. It can also be accessed via the following link:
http://www.media-server.com/m/acs/748729f15d3395743b29d00f5d843e1b
•A recorded replay of the teleconference will be available from 10:45 am EDT until March 21, 2012. The replay may be accessed through the Investors section of Vringo's website, www.vringoinc.com, or by dialing 888-286-8010 or 617-801-6888 and entering passcode 21675695.
For Additional Information: www.VringoIP.com
http://blogs.barrons.com/techtraderdaily/2012/04/02/vringo-soars-86-after-techcrunch-article-on-google-suit/?mod=yahoobarrons
One of the biggest percentage gainers today among any industry is $31 million New York-based Vringo (VRNG), which makes software for social networking and mobile devices.
The shares closed up $1.42, or 86%, at $3.07, apparently propelled by an article postend on Saturday by Tech Crunch’s James Altucher, in which he argues Vringo might stand to gain billions of dollars in a patent suit against Google.
Altucher relates the story of his friendship with inventor Ken Lang during grad school in the early ’90s, and how Lang in 1998 filed a patent on ranking Web page search results based on number of click-throughs.
Vringo on March 14th said it was merging with Lang’s new patent holding company, Innovate/Protect. Innovate/Protect has a patent suit against Google (GOOG) alleging infringement of Lang’s patents, which it mentioned in a letter to shareholders on March 19th. A preliminary hearing is scheduled for June 4th.The company has also set up a Web site about the Innovate/Protect merger, which includes a link to the full complaint against Google, but also listing AOL (AOL), IAC/Interactive Corp. (IACI), Gannett (GCI), and Target (TGT) as defendants, filed on September 15th, 2011.
As Altucher puts it, Google could “go to $0? if Lang and Vringo successfully sue for what Altucher thinks would be triple damages based on willful infringement of Lang’s work:
The company sues Google for a big percentage of those $67 billion in revenues plus future revenues. The claim: Google has willfully infringed on Vringo – I/P’s patents for sorting ads based on click-throughs. I remember almost 20 years ago when Ken was working on the software. “Useless!” I thought then. Their claim: $67 billion of Google’s revenues come from this patent. All of Google’s revenues going forward come from this patent. And every search engine which uses Google is allegedly infringing on the Vringo patent and is being sued.
Altucher is a holder of Vringo common stock, and said he would be buying more of the shares after having posted his article.
is TD still blocking buy transactions?
99.99% of OTC are shell companies & we are all aware of it.
Awe$ome has history of good pump which creates good momo.
Trade it or leave it. Simple as that.
I already posted that.
I don't mind holding a couple of days of consolidation.
sorry my bad. 10-Q not audited.
With volume & price action from yesterday, LUSI's chart is set to go up again imo. I actually added little more this morning on dip.
Thanks for your dd post mrchipper. Good to know a little pinky company actually files audited 10Q.
added WAMUQ 0.085, like chart set up here
maybe more update on patent filing
daily chart.
0.0041-2 is where 20ema & 50ma are at.
Also that used to be important support/resistance area.
Heading to 0.00416 support
Use this for otc stocks to check DTCC eligibility
http://www.mastertrader.com/TradingResources/dtcc.aspx
MSOA is currently listed as DTCC eligible.
.
IGNORE asdgwest
asdgwest: Do not wrongly accuse other traders who actually does their DD!!!!!!
happy to see another flipper out
Support at 0.0018
loaded more this week & definitely excited.
today is first time it broke above resistance in 2weeks!
MSOA CHART BREAKING OUT
http://stockcharts.com/h-sc/ui?s=MSOA&p=D&b=5&g=0&id=p10596631506
Breakout
Has anyone got CEO's reply yet?
I sent out my email on friday asking if he can make official comment on current share structure and no reply yet.
Thanks for sharing, Smilin.
I will also send my version of email to CEO & see his response.
Every shareholder of MSOA should do the same and stop guessing around!!
I can't agree with you more.
harrryh posted today that CEO told over the phone he is not selling shares.
We need to see is his words on PR, not on the phone.
Thanks, Jeffn. It was the hardest thing to figure out today for me..lol
when you get a chance, can you tell me how to post jpeg here?
thanks in advance!
http://ih.advfn.com/p.php?pid=trades&symbol=MSOA
check out the trade.
No one here will have answer to that.
What is significant is total volume today.
We haven't seen this kinda volume for a while.
I thought it has bottomed yesterday as per chart.
Added small position today @ 0.0016 and going to hold/see where they will take this.
CEO needs to come clean & put all the facts on PR instead of telling on the phone this and that. These mms on MSOA.. they are in total control.
I agree with thefactsonly. They were dumping and same guys scooped up massively after tank. Everyone can check to see this.
http://ih.advfn.com/p.php?pid=trades&symbol=MSOA
Can it get any lower? Thats depends on how much CEO sold shares to the big hands.
check out L2
2 massive 22M shares @ 0.0015 went thru in a/h.
MSOA something is going on.
I don't know how to post jpeg here, but thats $67K total.
That makes today's total vol 78M.
what did I say last week? NO SURPRISE, NO BUYERS.
Stop posting when & what PR CEO will release.
Next time you speak to him, please ask him to put o/s & float in PR to clear everything up.
lol you told everyone what he will say already.
No surprise, no buyers.
Please stop posting when & what news CEO will release.
Doesn't it bother you that CEO is pumping by telling investors on the phone which day he will release PR?? This stock is getting thin & this 'sell on news' is certainly not helping.
I rather see buyers come in AFTER news is released and get it going. This whole news alerts have been screwing the chart imo.
Lets just say company will feed us with news every week for a while. These news promise postings are having negative effect imo.
He is on my ignore list.
Time for moderator to act?
are you throwing random numbers now? lol
let me guess.. you made bad trades today by chasing it high and sold in panic?
don't forget today's low was 0.004
Told ya!
where are the shorters? lol