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.
After that message I am not sure we are actually disagreeing so I will cite the law:
Pursuant to 35 U.S.C. § 284, a court may award up to three times the amount of damages found or assessed. This authority may be exercised when the defendant has willfully infringed a valid patent — that is, the defendant knew about the patent but nevertheless went ahead with the infringing conduct without a reasonable basis for so doing.
http://itlaw.wikia.com/wiki/Treble_damages
The law is meant to punish the offender, not make the victim whole. What was happening with Calypso is only relevant to the point that they made T-Mobile aware of their patent.
As you state, the narrative you lay out is in our favor, but frivolous defense does not equal willful violation. Again, I think we are talking the same thing but attacking it from different angles.
Putative and treble damages have nothing to do with making the company whole. They have to do with punishing the wrongdoer. Therefore the companies position is not strictly relevant to those damages.
That said, it makes a better narrative if you can say that the reason the company failed is because big bad t-mobile screwed them over by stealing their patent, the exact kind of thing that violates the intent of the patent law and is the reasoning behind putative and treble damages.
Without knowing the who and why it is difficult to determine what just happened or if it presents an opportunity to buy. I would love to know anyone's thoughts on why this week's trading occurred.
I did increase my holdings at 13.7, but It was a small amount. Whether that was a smart move or a foolish one only time will tell.
I am in no rush, looked at this as a one year hold and evaluate. Just seems that a lot of money exiting at once. Makes me wonder if something internal is happening (issues with permits) that us mere mortals will not see.
I am not big into this either, about 10K shares, but still would rather make money than lose it.
OK, so who is selling today?
The receiver has at least three years and can request extensions as required. It would be better to negotiate a "go away" settlement during the appeal process based off our successful outcome at trial then one based on a marksman hearing.
Any idea what the odds are that HDY can extend the concessions beyond the next 3-4 years?
Any idea what the rush to get out of DEJ is all about. Seems a bit delayed to be a result of the quarterly report.
It is a risk, but probably not a likelihood. The point is that once there is a legal ruling on the matter then it increases the value of the patent. Even if we lose we can appeal (as can T-Mobile).
The patent could be invalidated as overly broad at trial. That is a good reason to not settle and take this as far as possible. Of course there is a risk, but if the court upholds the patent then the issue becomes res judicata and is less likely to be challenged again. It therefore increases the value of the patent almost exponentially.
B-Fish ... Don't worry about the dinner, but I do believe you are being a bit premature. I think it might have been worth your effort to hang on until October. It might even be worth coming back in if it dips to less than .19, but it is your money (Dah!)
In any case, it is always good to deal with a gentlemen, especially around here.
Good luck in the future and may the Gods of the Charts be with you ...
So what are they waiting for
Bigfish, looks like you will need to avoid the New England area for a while ...
Not what people were hoping to hear.
Personally, I think the recent uptick was the result of the anticipation of something in the quarterly. I have seen this many times before. People getting in hoping for good news looking to make a quick buck on big news. I still hold that it is going to take news of drilling to bring anything above .25 and the big numbers come only with a confirmation of commercial levels of oil and estimates of "proven" reserves.
Do you expect anything about timelines for drilling in the quarterly?
That being said, my original argument stands. Charts mean little on this stock .. News will make or break it.
While I might try and dispute the genesis of our wager, I will not renege on a bet. Although I have to admit, it would be rather stupid for me to bet against a company I was invested in.
I will stick to the terms as you understand them ... if it goes to anything below .209999 then I win .... if it hit .28 before that happens you win.
Just remember, I can avoid Tennessee if I have to ...
Generally, offering news early in the week indicates that they feel the news will be received well by the markets. Bad news is held until Friday when there is plenty of time for the market to forget about it before the Monday opening.
Of course, bad new is good for me because it means the SP drops below .21 and I don't have to buy a steak dinner ... good news is good for me because it justifies my position that news will be behind any jump in SP so I don't have to buy a steak dinner. Either way, things are looking good for me ...
I am not a conspiracy guy but I do believe in incompetency and arrogance. Based on those two factors I will take the receiver over Pierce (and her alter ego Desmond who posted here regularly under a name I would be happy to disclose as long as it does not violate any rules) and Turrini any day of the week.
Briefs are much longer, maybe it is just taking time to process and upload. Or maybe you are right and the extension somehow affected the date it had to be in. Either way, it will come.
TMob will play this out until the court makes a determination on the validity of the patent. That is what they are betting on. If the patent is invalid because it is too broad, or any other number of technical issues, then they win hands down. Any offer prior to that is simply a calculation of the annoyance value of the suit -- cheaper to settle then continue paying the attorneys as long as there is a complete release in the agreement.
Once the validity of the patent is decided, and if it is decided in our favor, then TMob will come to the table with a reasonable offer. At that point the games begin.
I may be betting on .21 (so as not to have to fork out a steak dinner), but I was buying today at .22 ... and happy to get the few shares I got.
When was this offer made, and who turned it down?
It may change my thoughts on prior management ... they may have been smarter than I thought.
Eewwwww...66K at .211. Getting nervous?
Something is going to have to push the people to buy and it won't be a chart. News, News is going to make the difference. Psychology over Chartology.
No steak dinner for you...
Live near Boston, so either way I think I am safe
I always enjoy a friendly wager, so sure, why not.
Don't get me wrong, I am not bearish on this company, I just don't have big faith in charts. News of dilution brought us from .32 to .22 and I think it will take news to get us back up. Now that news could be in the form of drilling or in the form or higher NG or oil prices or higher production levels. But large upside with this company is tied to activity/results from Kokopeli. There is some expectation of activity in the near future. If no news occurs or there are delays people loss faith and move on. I believe in psychology, not charts.
I will not be upset to be wrong, though I might have to offset my gains by the price of a steak dinner.
While I find your optimism comforting (and mildly confusing) I would suspect that without a reason for the price to change it will continue to slowly fall. Nice to know that there has been support at .21 in the past but there is no reason to suspect that will continue indefinitely.
It will only change significantly with some news on drilling ... one way or the other.
What is a "large" block of shares with this stock. Have noticed a number of trades in the 80,000-100,000 that look like someone dumping shares. Curious if this should be a concern or not.
But why would the receiver settle or sell if his mandate from the court was to maximize return?
This is not Christian or Kyle anymore. It is a professional who (should) have no ulterior motive.
"it is no longer a going concern as far as a traditional public company. that absolutely does NOT mean that a receiver has no power to conduct business in the sense of generating max shareholder value"
Could not agree more. Just don't see that turning it back into a going concern is part of his mandate nor even really practical. But he will maximize the return. He was able to complete the action against T-Mobile because that case had already been initiated. I do not see the court granting him the authority to initiate any new litigation.
What that means is that we have to maximize T-Mobile to set the stage for the auction of the patent. JMHO.
There is no corporation. There is no stock. We have missed our legal obligations to conduct annual meetings or to complete SEC annual filings. Our finances have never been completed. We are not even close to fixing any of these things nor does the receiver have any mandate to attempt to fix them for the company. THAT is the factual finding that killed the company.
There is more to running the corporation under law then the fantasies that management kept selling to the shareholders and apparently some still believe. Bringing on a CTI does not fix any of this. They "screwed the pooch". It is over.
Calypso is no longer a going concern. It is not a stock on any market. It is winding down.
Sorry, just the way it is.
The company had a lot of problems none of which management was trying to correct. No filings; no validly conducted annual meetings or elections. The Court basically found that the company had been mismanaged since Williams brought his first suit and determined that it could no longer continue as a corporation under Delaware law. It IS being wound down and will sell all of its assets, settle its debts, and distribute any amounts left to the shareholders.
It is not going to continue on despite the values of the assets or its potential. That was all squandered away by mismanagement going back at least five years.
Remember too that a ruling that the patent is valid sets the stage not only for a settlement or trial with T-Mobile for the maximum amount possible, including treble damages for bad faith, but it also sets a clear value for the patent which will be sold as part of the winding down of the company. While there are many hands in the pot for the T-Mobile deal the proceeds of the patent sale belong mainly to the shareholders.
From that perspective, it is in our best interest to push this case as far as we can in order to set the stage for the patent sale.
Not really sure why I, as a shareholder in Calypso, should care what is better or cheaper for T-Mobile. What I care about is what provides the highest return to me once risk has been factored in.
He is still a member of the board.
Do you think the spike was a response to the article or was there more to it than that?
I understand. I remember reading it. I just believe it was dicta - non-relevant musings of the judge that do not actually have legal influence or precedence.
And Elis is right. The three years I am referring to are in the law. It is intended to protect creditors of the company - to allow them time to find out what is going on and sue the company. I do not believe that any distribution of funds to shareholders can occur before that period is over and the judge agrees to the final distribution. IMO there is no reason to be in any rush.