Lortops, or should I say Scam Patrol.... I presume that even if they have exactly what they say they have - they have an extremely steep uphill battle ahead of them. Relative to the amount of cash they need to commercialize their supposed tech beyond a BETA test product - they're essentially broke. $3MM in cash on hand is a drop in the bucket even for a fabless semiconductor company.
Nice to have Telcordia fluffing up the company's personna, and to have Moxon move from contract employee to full-fledged RIM-man... but one 20+ yr contract engineer, who just happened to be handy (Beaverton, OR) doesn't exactly make the company a winner.
Assuming they have exactly what they claim - the pending conversions of debenture debt holders has a very high probability of tanking the price before they get critical momentum going. And IMO, best case - everything is as they claim, they'll continue to destroy shareholder equity as they scamper to find the necessary funds to commercialize product. And as we know, the lower the price goes, the worse the problem will be.
I'd say, if this is real (and we all know where I stand on that front), current shareholders will be left holding a greatly deflated bag of paper, while new never before owners of RIM stock can sit back and wait to buy much lower and enjoy the next pump cycle up in future months.
Short term we might hold on low volume, but I can imagine the debenture holders will hold their breath or cards much longer, let alone forever. RIM is known to provide plenty of "pump" into which sellers can sell. It's their long-term MO. Watch for more news and more selling and a continuation of a downward trending stock...not losing sight of the fact the price has enjoyed a 30%+ haircut since the breakthrough Telcorida and Moxon news came out....
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