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.
Guys stop talking about attorneys fees. You're both completely guessing and will have no proof to back up your statements. Sampson, IBM has definitely not been spending 1-2 million dollars on attorneys fees thus far, those prices don't come around until trial prep time or the actual trial itself, not even during MSJ's.
Gomez, nothing is "up for sure" just because of the volume yesterday. We once again have little info about what the heck the company is doing. Somebody is probably wishing or hoping for good news in the coming weeks, which is possible, but none of us know whether something is "up for sure".
Jax, I just got your message from a couple weeks ago, don't have private responses, which you are aware of. The answer to all of your questions are yes. I have absolutely zero information to back that up because I delete all messages people send me after I read them, but I specifically remember this e-mail. Personally, I think the rumors I was told were completely false.
Everybody thinks lawyer jokes are funny. Until they actually need one.
More like 500 dollars.
Do you guys have any support for your opinions? Wishful thinking hasn't worked for the past year here.
"he knows a whole lot about BK and court proceedings. If he says something, I would pay attention and learn more about what he is talking about. He is not always right but I personally do not bet against him." -justavoice
Wall Street was wrong about the Complaint not being re-filed this week. I would personally never bet on anybody's opinion regarding litigation outcomes or re-filing cases unless they clerked for a judge presiding over the trial, had cases in front of that judge in the past, or are personally working on the case. He provided no specific details to his two guesses regarding this case, so his opinion is virtually worthless.
I don't have time to look this up but if QSGI's case is re-filed it will be important to know what type of case the law firm has set for trial in June-July and if it's in the same district the QSGI case is set. IBM's counsel will follow that case closely, especially if it's an Antitrust case.
It's good to note the other case is set for trial in July, since they have gotten that case to the final stage, although many settlements occur a couple months before trial. Bad part is they aren't a huge firm and they are going to be SLAMMED the next year if the QSGI case is re-filed and it's extremely tiring to take on two large cases in a year.
I like frank, honest opinions. I tend to like Wall Street bashing QSGI, because he is normally right in regards to his financial or business analysis. Believe me, the potential profit that could be made off this POS is not blurring my view in regards to anything.
What I don't like is completely wrong statements about possible libel lawsuits and spelling the word Hearsay incorrectly, and I won't take any legal procedural advice from somebody who makes either of those mistakes.
MTD's are dismissed over 90% of the time, and my money will always be on the Plaintiff to win that round. Nobody besides the attorneys working on these cases, who are able to view the discovery and facts, knows how a judge will rule on a case and anybody who claims they do so beforehand is self-centered, especially if they rave about it afterwards. Some may have a clue by looking at judge's track record, but that takes time, money, and knowledge most normal investors don't have, and they are still guessing.
Finally, I don't need any briefing in court proceedings. I've been involved in some massive civil lawsuits and understand the BK process.
I definitely feel like the trial date is getting pushed back, or the entire scheduling order will be pushed back, if not completely moved because of the additional discovery or discovery delays. Been saying this for the past month.
This is a purely speculative post, also known as an opinion, based on little factual information available to the public. Let's be real you are completely guessing.
Also it's called a Counter-Claim which would be included in IBM's Response to the Complaint. Not sure if they have one.
QSGI is not going to talk about it's lawsuit to it's shareholders, nor should we expect them to give us minute details. It's highly confidential information and literally something that's completely out of our control.
If the lack of commmunication continues and multiple shareholders are upset then shareholders may want to combine forces and request a shareholder meeting addressing specific issues, or request the shareholder list, so we can contact one another. The shareholder list cannot be requested for purposes of a lawsuit, so we would need to find a valid reason for obtaining the list from the corporation.
Additionally, if you hold this stock through a broker, you need to contact the broker and get on the stock ledger, so the corporation actually knows you exist as a shareholder and you have actual voting rights.
Hokie, I see what your saying but not many people bought in the 60's, so that's really overstating it. Some people did buy in the 20's and 30's though, so a 30,000 investment is currently worth 3k. I think we watched a massive pump and dump before our eyes.
Nobody's fault but ours. Hopefully they can get this turned around. No idea what to expect.
Agreed, same here.
They already did it once. Just wasting their time and our money if they do it again to make you satisfied. It's not going to happen.
Your latter statement is right but there is absolutely no need for a PR until financials are updated. The only people that will benefit from a random PR that doesn't include financials with it are flippers who will keep the share price exactly where it is after it fluctuates a few cents. Random PR's with no substance or financial info =wasting shareholders money and management's time.
I'd really be careful how you phrase things. I highly doubt Sherman said he didn't care what the shareprice is. He may have said he wasn't focusing on it as much as the filings at the moment, but any CEO of a company that publicly acknowledges to his shareholders he doesn't care what the shareprice is not a company I want to be invested in.
Also, a PR is totally useless right now. It's only going to take up valuable members of QSGI's time and be an additional expense. Financials are what we need.
Contingency makes sense, because QSGI did not have the resources to bring this case. I have a really bad gut feeling about this lawsuit because of the quality of opposing counsel involved on the other side and the amount of resources they have.
This is a massive case for QSGI's counsel, they would take it despite using a lot of resources for the shot to go up against a company like IBM and the public exposure their law firm is receiving, which will help them obtain more clients in the future if they put up a strong fight. With that being said, they are going against a massive international law firm with many more resources than them and better attorneys, which they will fully utilize during the latter stages of this case.
If QSGI's counsel can't do basic things like fulfilling Discovery requests, then good luck down the road.
Agree.
Once this case gets near the Motion For Summary Judgment stage, if it gets that far, QSGI will easily be spending 1 million a month on this case and thus reducing their overall assets or cash available. If they lose it will drastically change the stock price and overall value of the company because this is a company that cannot afford to try a case of this magnitude, spend millions in litigation fees and so forth. To be honest, I can't envision them losing this case, there is no way they brought this lawsuit without thinking they could settle favorably.
Additionally, IBM's tactic of getting QSGI to spend a lot more money producing documents will be an additional expense and a smart tactical move on their part. It's going to be extremely expensive for them to produce everything IBM is requesting.
Going to be interesting to see how the judge rules on the Motion to Compel. If it's granted I highly believe the trial date will be pushed back and we will see an Amended Scheduling Order, which will cost QSGI.
I'm not going to speculate anything on why QSGI hasn't produced this material, but I will say after reading the MTC and Affidavit IBM has strong arguments.
No need to call Tird out this morning. The stock is back at 4.5 cents. Nobody could justify the move two weeks ago, which is what scared me. The company still hasn't released financials. This stock does not look great at the moment by any means. I would be extremely hesitant investing in it.
I'm 100% with you on that statement. Have a good weekend.
That's interesting, didn't know that about BK. I'm outta here, hope all is well and we see more positive momentum.
Carm, I sincerely respect your opinion, but I disagree here. Investing in a Motion that has over a 90 percent chance of being denied is not a prudent decision.
Jax I agree with everything you said, except there is very little possibility the MTD news was leaked. The first time the attorneys hear about the ruling is when the judge's Order is posted on Pacer, or e-mailed directly to them, then they read the Judges Order and find out why it was granted or denied.
I remember being at my desk on Friday and receiving MTD rulings out of nowhere. Some federal district judges rule on MTD's from various cases at once and will file five to ten of them simultaneously.
The thing that scares me is nobody knows why this went up yesterday.
I wouldn't speculate too much re: this stock. Stock price continues to fall. Massive disappointment.
I think we need to ask some questions about the lawsuit with IBM, because this could be one of the biggest factors that moves this stock in the next year if there is an early settlement (no clue if that will happen).
1. How will shareholders benefit if QSGI wins the lawsuit against IBM? If QSGI wins how do you expect to invest the proceeds of the settlement/judgment?
2. On the other hand, if QSGI loses the lawsuit against IBM how seriously will the stock price be effected and how much money could the company lose defending this lawsuit?
If somebody wants to edit these questions and shape them up, please do so. I'm slammed right now until December 22nd, so any help would be appreciated.
Yep, he's a good guy, personal friend of mine and recommended this stock to me. Hope to celebrate with him in Austin, if this stock takes off again.
Ha, now that's a fabulous question.
Rainer's around. Checks every so often.
Carm, I agree Spy's opinions are opinions, and they can be absolutely infuriating, BUT you need to highly question the previous acts of the CEO of any organization, especially based on past performance. They are HIGHLY, highly relevant to any future endeavors that the CEO engages in. This really cannot be tuned out, and although I think Spy tends to be repeat himself and only looks at the negative side of this company, I am glad he made me keep a closer eye on Sherman's activities and aware of his past mistakes.
With that being said, it's been very nice to see upward momentum the past couple days, although I have absolutely no idea what is causing it.
sddmkerr
Got your message, not sure whether it was private/public, but mediation and arbitration are two totally different things. Like I said in my post, they may mediate but won't arbitrate. It's good they will mediate, could bring an early settlement, but we will likely have no idea what will happen until Discovery is over.
Hope your doing well, adios.
Wow, you completely took that post out of it's context. I said IF THE MTD IS GRANTED THEN YOU COULD KISS THIS STOCK GOODBYE. Do I think it's going to be granted? No, but if it is this stock will go back to the sub-pennies, I absolutely guarantee that.
Hokie, you, nor I, have any idea whether this case will settle or not. Look at the other side of the coin, if IBM wins at trial or if these claims are dismissed QSGI's counsel will have spent a million or more bringing this suit. I do agree if there is a positive settlement then it will definitely help the PPS. Everything is pure speculation at this point.
I agree in regards to no hearing, once again, MTD will be denied, if it's granted, then you can kiss this stock goodbye.
Arbitration is always mandated, why even bring that up? They won't arbitrate, they may mediate. It's way too expensive. IBM does not have a history of using arbitration either and arbitration is no longer a favored means of resulting legal disputes because you can't appeal and arbitrators try to make both sides happy, rather than rewarding the proper party based on the merits of the case. This will stay in court, especially due to the alleged monetary damages involved.
Parties schedules rarely affect the judges Scheduling Order. Judges have set Scheduling Orders, which rarely change and are according to their schedule and not by the parties suggested schedule.
Visionaire, I understand the gist of what your saying in your third through sixth sentences below and I agree with those statements. I can't comment on your first or second sentences because my post would be deleted, so I am going to move on.
I honestly would call management yourself to get the answers you need, which seems to be the best way to communicate with the company. You may want to wait until November 16th, because supposedly the SEC filings are due on the 15th, so they seem very busy right now.
This may seem like an obvious response, but I really wouldn't rely on speculation from this website, when you can get concrete answers from the company over the phone. If they don't want to take the time to call you back within a reasonable time or specifically answer your questions, then that should tell you a thing or two about the company.
I don't think Sherman is the one who will be shaking in his boots during fact discovery, pretty sure the defendant will take that role, or both parties, but neither of us have the information to make that judgment.
I believe IBM's Reply was due last Friday in the IBM case. I don't have Pacer, so I don't know if it's been filed. If the deadline was last Friday then they definitely filed it.
We just have to wait on the judge's ruling, which may take awhile. Regardless, it won't change the stock price if the Motion to Dismiss is denied, which is likely the case.
I would imagine it would be very hard to be a moderator of a stock that you own. You seem pretty level headed and unbiased, so please post here more often.
Definitely remember you posting quite a bit awhile ago.