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Yep and even better $10m in debt coming off the balance sheet
It appears this Bridgestone deal they made was a major major screw up by Croxall. They downplayed the significance but the market knew it all along.
If nothing else we can now eliminate the liquidity fears which is a big positive IMO. Whether the market wants to give any value to any NPE right now is another story (hint it doesn't). But if that changes MARA appears back on track to where it was this time last year before the bridgestone debacle. Maybe they can deliver going forward this time. This is the first time I've felt like the stock could be a buy in quite a long time. Will still take a lot to turn this though. IF big if we trade up I'd guess any spikes get sold hard at least until everyone who wants out is out and more good news comes
Whats Ed Johnson think? Holding and giving them another chance here?
Guidance? Hate to disappoint you but you ain't getting that
This was a phew that waasn't horrible report and Rev's were very good. Looks like MARA should meet that debt covenant by year end which is a big relief. How the stock trades who knows. Whats in the Uniloc Proxy will be much more interesting than anything they say today
I highly doubt you have to worry about tax loss selling in this POS.
At least they are not reporting on a Friday after the bell this time
What I want to know is where is the proxy on the Uniloc deal?
Wow! Somebody actually wants to invest in Marathon!
These guys are very big and not micro cap investors. Curious position for them. I can't find any connection to Spangenberg or Uniloc etc.
Either way anyone takes a 5% position in a company it can't be bad
What about on the Uniloc side? Any idea how the rest of the year is for them?
I don't think so.
I doubt a public Uniloc would of fared much better through a large market correction, destruction in the sector in general and in small and microcap stocks
A large % of the Uniloc vote is locked in but they will have to sell the deal to smaller holders like yourself it sounds like. hopefully MARA can put up a good quarter (which it looks like they will) or even nail a big settlement between now and the vote.
Why is a guy like Spangenberg (and I hope I can put Croxall up in that category) ever involved with the likes of these people in the first place?
Again what does this have to do with MARA?
How is the U of Wisconsin a "patent troll" does an NPE own this patent?
What does this have to do with Marathon?
Is this the old Settlement or a new TWTR one?
I don't get this release? Is this material to the 3rd quarter? if it is shouldn't they give a number with it as well?
Otherwise why are they releasing the news now
I'll stick with the company and flyers assessment of what the current Patent bills mean to the business. Right now its the uncertainty killing the sector more than the actual threat (as is often the case)
Maybe I'm being naive on this but what does the VRNG saga have to do with MARA? MARA is trying to build a business (ie positive eps and div's) like ACTG.
It's the political overhang stupid
Is all I have to say Look at what one comment by Hillary did to the Biotech sector. Washington has wiped out entire industries before see online ed or ethanol stocks for recent examples.
So take that AND Doug's horrible forecasting and you get MARA. Simple. It is what it is.
I would also argue that the drop was due to another disapointing quarter announced on a Friday after the close no less more than the deal. The market with little info on the deal to go on probaly is not pricing in much positive or negative on it at this point. Its wait and see
I understand but that doesn't mean the initial reaction was correct. I think the reaction was based on uncertainty and doubt given how bad the first half of the year has been. Very little volume has traded since the announcement and this stock can move 25% on as little as 1K shares. Once a proxy is out the managements can sell this deal and I think with the talent between the two companies they will be able to do it effectively. Though not without some positive news as we head to yr end to back them up and give credibility again
Good riddance. Hopefully the capitulation we need
Ed as usual is 100% right. This stock just needs results. Doug has yet to deliver and has been horrible in his forecasting of timing of events. That doesn't mean the events aren't still out there.
This has been a horrible market for a lot of stocks but none more than the NPE's. Relief on the political side in the next month could open the door for new investors at just the right time if Doug can deliver a major settlement as well. But just look at ACTG today unable to hold a nice gain. They are in the same boat (though with a better balance sheet)
There was someone (probably one of you ihub bozos) on Twitter trying to generate a buzz for a MARA and ACTG combo. I know its a long shot but man I would take ACTG stock for MARA and own the combined company and feel pretty good about it. I like the Uniloc deal as well and can't wait to see the proxy which should come any day now. Bigger is better in this space and there is plenty of room for everyone to get their share if things turn
If the Settlements are material to earnings don't they have to tell the market?
Down 10% today??
Any way to get an update from the Sidoti Conference today?
Where is the Apple Press Release??
Great good for another 16% down
This is good news. I want to see a few things corrected from the last call.
1) no more almost or we are close. Come with news of a big settlement or don't mention it at all.
2) Address liquidity in a real and concrete way. No yeah we are fine I think responses. Tell them why you are so confident
3) Sell this deal. Hard. Better than they did on the conference call. If its a game changer for the companies say it. Say the market misunderstands it and tell them why. If you think the stock is cheap and we got Uniloc cheap say it. Make the comparison to the comps and show investors there the upside! Put numbers on it, multiples etc. Like a real company!
Another idea. I think Marathon should change its name. Marathon Technologies, Marathon Solutions anything but Patent and it negative connotations
There IS decent institutional buying in ACTG and it is kinda weird that none of these funds show any interest in MARA. Anything can help and not having a company with the word "patent" on their holdings list could possibly make a difference
Uniloc would be a good name but it has become synonomous with Patent Troll due to some bad publicity from the Daily Show
For those new to this company MARA goes down on both good and bad news. Sometimes the better the news the worse the stock acts. Last October when they pre-announced their big Settlement and revenue number the stock after gapping up dropped 30%. So I wouldn't be too quick to say that the market likes or doesn't like this.
And you are right, MARA trades like a pink sheet stock. The Bid ask spreads can be enormous and I've seen it drop 20% on as little as a couple hundred shares. So it is easy to manipulate sure but I wouldn't want to go down that route. It is what it is
ACTG shares look cheap as well. I would be happy to see an all share offer from them and would hold that combined company for better days. I've always wondered why if our assets were so great why they would not be looking under the hood of MARA? Maybe in the past Doug and Erich and the other insiders that hold so much of the stock would of been reluctant sellers but now that may have changed
Today would be a really good day for a late huge rip higher after testing that low earlier (the pathetic one set on like a 100 share mini air drop.) Not optmistic or hopeful but just saying
That's ridiculous. If you halve the stock price you are assigning zero value to Uniloc (or MARA).
I think Uniloc gives MARA legitimacy. MARA just need a damn settlement that shows the market they can make it through year end
I think you should stay.
2 things to consider. If Uniloc had been public for the last year where do you think your shares would be? No one in the sector has been spared a giant haircut.
Second, this IS your IPO. you are getting folded into a, well what at one point last year was the best performing IP stock in the market. I doubt Uniloc had the option of a a real IPO. Any IPO promise was likely a reverse merger type deal with an OTC listing. Here you get a NASDAQ listing of double the size and are spared all the expenses that come with the IPO process. If a public company is what you wanted I'd say this is way better for you than the alternative
I think you have a lot in common with the average MARA shareholder here in terms of your frustration with the value given your investment.
Please tell us more about Uniloc
Have you researched MARA's assets and pending cases, injunctions etc?
There may be opportunity here for you. Either to cash out when your investment goes public. Or to get in cheap before the deal closes having knowledge of Uniloc that others may not.
And when has Apple ever settled?
What Home Run Hitters? Did we get any detail on that from Doug or Uniloc? Of course not
To be honest I think this deal makes the company much more attractive from a longer term point of view than where we were this time last week. However, they did very little to sell that. And why are we talking about home run hitters? Again what happened to the slower singles and doubles and solid margins and cash management. Now we are a borrow money and swing for fences company? That is not what Doug sold investors last year
This all started the day MARA signed that damn Fortress deal. I admit to being completely duped that that was a positive. It kept me from taking big profits. The analysts that began following MARA also cited Fortress as the reason. So far its been nothing short of a disaster. It doesn't feel like they are a friend of this company at all
Doug has lost a lot of credibility this year. A LOT. He also talked about a settlement announcement he had hoped to have in time for the call. Second time he has done that and not delivered (yet).
So much for a game changer of a deal with Uniloc. The conference call did absolutely nothing to generate any excitement for what we gain from Uniloc
This was a fiscally sound company when I first started to look at it. They had just raised capital (at above these levels) Singles and doubles were working, expenses were held down, margins were great. So far Doug has turned that into a complete mess
If that big settlement ever does come why would anyone here vote for this deal and give half of it to Uniloc? Does that hold MARA back in their talks so as to get the deal done? Who would buy this now without seeing the proxy? and in the meantime we go down 7% a day
All for healthy skepticism but the Fortress deal was signed in February and Doug stated that these talks began in March (when the stock was $6-7). I don't think Fortress does the DD and commits that capital with a negative view and intent to make MARA merge with Uniloc
Maybe it was the other way around. They told Uniloc go talk to this company MARA we just gave money to?
It drops 10-20% on a 100 share lot. I wouldn't say large anything. VWAP is 2.82 and all the volume today has been at 2,80 or higher
Just no interest
Well they didn't really sell the deal did they?
Any idea on the nature of Uniloc's revenues? Is any of it recurring?
This is interesting but what does it matter if its already been spun out?
Horrible. My bad I read it to quickly and did not see pro forma. So we are roughly equal in trailing revs (probably why they put the 30 month number in there.
Seems like there is accretion in number of cases
The new company will have active litigation against 119 infringers, a 164% increase over Marathon's stand-alone cases and 101 scheduled trials through 2017.
Either way I wouldn't say its dilution here. A lot to discuss on the conference call
Good point. Timing becomes interesting here because if we were to get the Stryker Settlement (and it is as large as we think) before this deal closes that is a big difference to get 100% of that amt vs 45%. I'm sure this was all factored in the negotiations and Doug's view of the value of this deal.
There is nothing dilutive about this. What are you guys talking about? Of course we don't know Uniloc's full financials at this point but based on number of patents and revenues, they are a bigger company than MARA (hence we are getting less than half the Newco).
We are combining their 37m in Rev's with our 20 for a total of 57m. 45% of that total (26m)is greater than the the 20m we currently have, that is Acretive if anything which might say a lot about how Uniloc feels about Doug and MARA's current patents.
This is also a way for Uniloc to go public. MARA as a listed entity already saves Uniloc those costs and we get compensated for that. As I said before I hope they plan on a dual listing in Europe as well
I want to know how this effects the Fortress financing, Spangenbergs role in this deal and of course more about Uniloc and its financials
There are many questions but nothing about this screams desperation or dilutive. Absolutely nothing, it is the opposite if anything