Ok here we go...I will do my best to summarize the conversation I had with David Waldman as best as possible.
Regarding the vote to give ENIP the right to perform an R/S and A/S increase, they have no plans at the moment to do an R/S this was simply a vote to prepare for the future in the event they would need to the authorization is already in place. He stated that the company is a victim of naked shorting which is apparently illegal and they are trying to combat this activity. He did state that because of the conversions which he stated are complete the officers are left with less than 50% of the company so a minor increase in A/S will have to occur to give the company majority control. Again, a MINOR increase in A/S will take place to allow the company to have majority control. He could not tell me what they plan on increasing it to but I suspect it will go from 200 mil to 300 mil. He also stated that the only shares that were added to the float were due to conversions and that the company is generating $$$ through settlements and licensing agreements. He also mentioned that there have been quite a few interested parties that want to partner or buyout ENIP. He also stated that there are currently 8 patent infringement cases in progress and that most should be settled by mid 2015 and they are effortlessly trying to protect their IP and more infringement cases are on the horizon. Monetizing is their ultimate goal and they believe in order to do that they are primarily focusing on licensing agreements and partnerships with other IP portfolios and companies. They are actively looking to acquire additional patents.
He stated that for partnerships and acquisitions they will only do through non dilutive financing and are focused on the future of ENIP and their shareholders.
He stated with the new management in place the future is very bright for ENIP. Unfortunately, he said, it had to get worse before it got better. The measures taken by ENIP were well thought out and they knew that the SP would likely take a beating but would greatly recover as well.
Forgive me for the messy writing I am on my IPad and with my son. As you already know I posted is spoke to him and posted I bought 1.8 mil shares right after, look and time and sales. I am extremely confident and happy with the conversation we had. Honestly, he was a really nice guy.
I believe the future is bright for ENIP as well.
ENIP
