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I think in this specific instance, the audience needs consideration. The magazine is for Nigerian's specifically. He's speaking about the need for Nigeria to be more industrious, eliminate corruption (and he ran for president of Nigeria at one time, and is proud of his heritage) and diversify from relying on oil so much.
Here's a guy who made a legitimate fortune, in an industry that's not oil... Showing him in his Nigerian gear, with his lambo, and nice house - speaking about success being attainable through hard work and dedication - it's all just marketing and positioning for their readership. I don't blame him in the slightest for driving a lambo and having matching shoes. It shows their readers that that kinda style isn't reserved for trust fund kids and corrupt officials - It's just targeted marketing for the magazines audience. (and I don't think he's struggling to balance bill payments).
If this magazine was targeted to, say the investing public in NA, and the board let that be published, I'd have a major problem with it then, because that kind of marketing is completely unnecessary in that instance.
Odidi's are not as concerned as us about day to day fluctuations in the stock price because they're not relying on IPCI to go up for the sole purpose of funding their next project/vacation/investment etc, they're building the business for the business's sake.
That said, I friggin hope they're busting their ass to make progress (looks like they are by R&D costs, and shelf filing) because they are a public company and we we have all bought in to what they're selling - and we are all, in fact relying on them. So it definitely would be nice to have some more frequent updates in that respect. My 2c for what it's worth.Look forward to your report.
HJJ left no stone unturned reaching his conclusion...Can googles appeal really be denied?
I'm unsure - reaching out to the legal minds for more clarification!
exactly! what HASN'T Vringo executed on this year...
*crickets*
Shorts still piling on the last few days:
http://www.shortanalytics.com/getshortchart.php?tsymbol=vrng
... and we've been uptrending
sweet :)
JBII should recreate itself with a reverse stock split. People may be quick to scream bloody murder, but shareholders value has already been eroded. It's restructuring time. If they expect EBITDA that deserves a higher market cap, it's time to plan for that now. There is no way to have "explosive" earnings on a stock of 250,000,000 O/S.
The past is the past. Bygones be bygones etc. Naysayers will spin a R/S into the death knell, but JBII is not a biotech waiting on a black and white approval process. Shareholders are already being diluted - so if plastic2oil is a viable business model like they've claimed, then a reverse split will be the means to get them where they need to go.
R/S benefits:
Renewed investor interest (institutions will take notice)
A higher more attractive, more tradable share price
Listing on an exchange like Nasdaq or the TSX
"Explosive Earnings" reflected in the share price
Ability to finance at more attractive levels
If you want a case study, look at RIBT. They've been through a BK and a restructuring the past two years, have a growing business model, and just did a big R/S in November to reposition themselves accordingly.
Check out the image below - If you think (post financing) JBI is going to have a sustainable 100M market cap anytime soon (this year), that's, I'd say, far fetched. But even still, it would only put the stock @ .40 cents per share... How much further ahead are you @ .40 per share? If they R/S, that same 100M mkt cap is 20.00 per share, and we get all the benefits listed above.
"MM's can manipulate stock prices downward. JBII is going down, therefore it's manipulated.".. This deductive reasoning is wrong. The share price is a direct reflection of JBI's execution and cash management.
For years, evangelist John and his converts (myself included) promised great things to shareholders and potential shareholders. Remember the BNN interview, with 'profits in Q2 2011'...
Opertions have NEVER been lean, they've been fat all along, insulated by pure lard. Most of our cash has mis-allocated into ridiculous experiments like Pak-It, executive salaries and bonuses, COUNTLESS unnecessary salaries, trips to Africa, and numerous other "non-core" side-projects like Javaco. These are the facts.
If you're gonna 'fake it till you make it' you better have a crystal clear vision for the future. JBII has been better described as 'fake it till you break it', better yet, "fake it till you spend it". JBI's so called leaders have never had the wherewithal to support and build a business.
Question remains: Why weren't these "non-core function" employees let go IMMEDIATELY when Rick joined? I'd wager Rick wanted to 'keep the peace' with John's volatile personality. John's a brilliant scientist but he's too proud of himself to admit anything, I especially needing help, and that is exactly what JBI has needed from day 1.
Rick Heddle, I'm certain, has the right intentions and wherewithal - he's certainly put his money where his mouth is - but was he just sold by evangelists? How much did Rick really know about the internal workings of JBI before he jumped on board.... He's the best chance we've ever had at being successful and I hope
Awesome. Very helpful! Thank you :)
With both expert opinions and rebuttals for the workaround submitted, the only outstanding question for me is the line from PACER 963, describing the workaround's discovery and briefing schedule:
"Evidentiary hearing - The Court, if necessary, may schedule an evidentiary hearing in which the parties may present appropriate evidence and offer arguments in support."
I wonder whether the Court can request an evidentiary hearing following the settlement conference on Jan 22?
The above was the last line in Section C of 963. Section D of 963 continues:
"...To this end, within FIVE (5) days of completing the aforementioned discovery and briefing schedule, the Court ORDERS the parties to meet and to negotiate an appropriate ongoing royalty rate, using 20.9% of U.S. AdWords revenues as the appropriate royalty base. If the parties are unable to come to an agreement,the Court FURTHER ORDERS the parties to schedule a settlement conference with the United States Magistrate Judge assigned to this case no later than December 1, 2013."
.... "completing the aforementioned discovery and briefing schedule".... It appears an evidentiary hearing, if it was needed, would have occurred prior to "completing" the discovery/briefing and prior to the parties scheduling their Jan 22 settlement conference on Dec 1.
Seems I answered my own question there but if any legal eagles care to weigh in please do! :)
Question for anyone with knowledge on the settlement conference as referred to in Pacer 963 and scheduled for Jan 22 -
It's not entirely clear to me what the purpose of the conference is. Is the magistrate judge - loosely defined as - an arbitrator? Like, if the parties do not settle at the conference, will the magistrate render his/her own opinion on the case to Judge Jackson? What are the potential immediate outcomes of this settlement conference? and is the workaround implicitly included in the discussions at the settlement conference, or, how does the w/a play into Jan 22?
Is Jan 22 merely a formality that formally engages Goog & Vrng in settlement discussions?
I've been following VRNG a while now - Just searching for clarity on what the conference ultimately holds in store.
I highly recommend a browser add-on called 'AdBlock Plus'.
I use google chrome (!), and I'd also recommend that browser..It is a great browser, and Adblock plus is free, and it eliminates TONS of ads.
I don't get any pop-ups on IHUB at all and it eliminates the ads on the page itself... It also eliminates all of the ads on youtube, so you can watch clips right away instead of suffering through the ads.
truly ironic!
Given the Dec 1 date - what would be a ballpark expected turnaround on ruling from that date?
The January options expire 48 days following Dec 1. Looks like a couple of shorts or balls to wall longs took some big 3 & 5 January call option positions at the end of day.
I'm holding some Nov and Jan calls as part of my long position...considering buying some more Jan 2 calls.
Many thanks again to the awesome posters on this board!
I've thought the same. Part of my VRNG position in out of the money nov 13 and jan 14 calls - figured it'd work to benefit from the goog ruling and the october hearing.
Great summarization tobinator - I've followed this board since I bought into VRNG (a couple of months ago) kudos to all the great posters here (you know who you are).
Approx. 930,000 short shares covered, thats a drop in the bucket. VRNG is in strong hands.
If shorts bought proportionally on those two days -
Day 1 (7/24)
4,600,000 volume:
Shorts bought approx 301,000 (6.5% of volume)
Day 2 (7/26)
9,600,000 volume:
Shorts bought approx 629,000 (6.6% of volume)
Between 7/24 and 7/26 VRNG range was 2.85 - 3.70 (23%) and only 5% of the 18,000,000 shorts had covered...5% covered and a 23% range. I'm cool with that.
HTM trying to close above .58 today. Both FU and RNN look like they're at pivot points.
FU I'm in at 4.05
RNN I'm in at .55ish both with small stop loss
wow.. good morning to you !
How do you generally determine what option to trade - @ $.55-$2.00 that's way out of the money. Are you just basing your selection all on volume and open interest?
Nice! I scaled out of FU in the 4.20s. May buy back if it retests 3.88 support. I missed the boat on HTM..damn.
Just got my options account opened up though - heehaw. Still learning the ropes a bit on the options side. Just gonna proceed extra cautiously to make sure I don't blow up.
lol, oh well. 33%...not bad for a days work.
FU breaking though now, excited to see what happens leading into earnings. Earnings should be strong as well. FU is unknown. low volume, not a lot of interest in it... yet
great intraday chart.. The trend is our friend :)
FU making the slow creep.
Awesome looking chart! ... Also heading into earnings release on Thursday August 8.
Wednesday August 14
I took a half position in FU, going to scale in if it dips over the next few days and monitor a stop loss depending on the trading. Earnings are 8/14 not 8/6, my mistake.
I did well on VRNG today, except sold way too soon on half my position. Going to scale back in and hold that one long into the judges ruling. Not a complete technical play, but stars are aligned in VRNG favor right now. Huge short interest, saw a sliver of covering today.
In DSS @ 1.70 for a move one way tomorrow
I like the look of GEVO right now - Good base - Support @ 1.85. Golden Cross forming. Looks like it could get legs from here.
RE posting images - How do you post file images? or is it only images through urls?
I used to fall in love with stocks and stories, and its cost me big bucks. Efficient markets are a bad joke. Live and die by TA now.
I've wondered how traders pick up things on their 'scans'.. How do you get stocks on your radar/scans? Through finviz.com or some other means? I use think or swim -
Good posts man - Love Tech Analysis. Followed DSS on the way up recently, and saw your posts there - Never used the PPO and ADX. Good to know - Watching what happens in that one tmw.
USU is ridiculous! lol people making bank on that one
Cool thread. I will contribute when I can and it makes sense -
It's a legitimate question, and getting harder to answer the longer these guys are on the executive.
Absolutely! If these guys are unable to get an independent BOD in place by May 15, JBI has to retain a recruitment firm at the Company's expense to find one by November 15 2013...
Once the independent BOD is in place all the Series A Preferred Stock are retired...
If the independent BOD is not in place by Nov 15 2013, it's a material breach and John sells his Series A preferred pro rata @ 0.001 to each investor in the investor group.
Absolutely! Shareholders should be in open revolt right now and calling for executives heads. It's crazy if people accept being stringed along like this. Not many posts from the likes of Rawnoc and Brig88 right now, make sure, they are furious, and probably cooling their jets and trying to figure out what to say to the crowds.
I hope this is a wake up call, and investors on this board form a collective to hold management accountable for screwing up so badly. There are a LOT of shares on IHub. That's powerful.
Where is John Wesson in all of this??
You'd think mgmt could at least take a voluntary pay cut until the company is cash positive. The only thing they have proven is that they don't have the experience or know how to be leading this company.
I respectfully disagree with you. Sure Bordynuik 'sold' the business using what can be considered inflated figures, but thats what any entrepreneur does. In that respect, you can't say he's any different than any other entrepreneur trying to get investors and a business off the ground... The tech works, maybe not at that rate, but its cutting edge. Where the problem was - and is - is in the execution. This company has been PLAGUED by bad execution since Day 1. That's the issue here, not Bordynuik's claims.
I put the blame on the executives.. That used to be Bordynuik, so I blamed him. Now it's Rauber and co. and they are to blame, but there is no BOD !!
If we had an independent BOD, things could be different. Unfortunately, it looks like its a long ways away, and now we don't have anyone in place to kick these guys off the pot.
Those institutional investors he mentioned? Yeah, that's true, but they're not the kind that have retail shareholder's interests in mind, quite the contrary for all those buying stock right now.
They are the kind that buyout a public company suffering from bad execution, take it private, develop it to realize its potential, and then do an IPO 5 years later so that they can cash in.
Typically taken private at a stock price far below what everyone had been buying at for the past 3+ years, creating class-action shareholder lawsuits... but don't worry we have an independent Board in place to prevent this, and Steve Bacon has experience defending companies in Go-Private transactions! errr, wait a sec - wtf
These guys are lazer focused on being opaque! Holy smokes, this call was a huge insult to investors. WIth the exception of John, it was completely scripted and did not address anything out of the obvious.
Why would Kevin even mention that comment about Q1 2013 revenue? lol what the heck is he doing?
To me, it seems like he is purposely burning cash and sending the share price lower and lower so that the company can be scooped up by Private Equity... Remember he doesn't own stock.
Our executives were paid great bonuses this year of about $75,000 in CASH for performing so ____________ in 2012.
Unfortunate for shareholders - yet another hole in the hull of JBI.
Talk is cheap? Not in JBI's case. I read on here people calling these guys ultra conservative... what a bad joke.
Kevin and Tony want CASH: They don't own stock READ: Their values aren't aligned. They worked a cushy job at Smurfit and they have never rolled up their sleeves in a *real public company environment. They work from a distance, commuting and lodging at their own convenience and at shareholders expense (in addition to their ridiculous salaries).
I don't give two poops what kind of salary they "left" at Rocktenn to come to JBI, and it doesn't matter that Kevin and Tony have 21 kids and wives between them that they have to support. That is not relevant to the role of CEO and COO at JBI, Inc. a company based in Niagara Falls, New York.
I'm sure there is plenty of toxic drama behind the closed doors... Unless the next two quarters prove drastically different, it looks to me like JBI is on the course for bankruptcy and a 'go private' transaction with the institutional investor group (read: stonepeak et al) where common shareholders will be crying and filing lawsuits, John moves on, and Kevin and Tony will be sitting on their cash severance, looking for new jobs in St. Louis.
This is a perfect example of how an idea/technology is only as good as the people executing it.
Kevin pumped accountability at the AGM, but how is that possible without a Board? Kevin is a slippery salesman with a backpocket full of one liners and a degree in high school football coaching. Odds are good that Kevin and Tony were going to lose their jobs in the Rock Tenn/Smurfit merger. Tony is not an operations guy - he's Kevin's buddy that was on the RockTenn chopping block.
Notice how JBI doesn't separate their SG&A expenses - It's because they have ridiculous salary expense for their fifty five employees and they want to hide it in one line item. One person to operate the machine, but 55 people employed... seriously.