None of this trading made any sense to me, until I was informed as to the group(s) behind IRNC. So, whereupon I freely admit that my initial assessment that the conversions were done, was a week early. IRNC was a little aggressive in paying off some of the notes, more aggressive than even I had contemplated. That being said, the worst is behind us, at least until July.
Now for the downward, omnipresent large asks that seemingly are chasing the bids down. This is the attempt by a group, infamous on this forum for attempting to accumulate shares at the cheapest prices possible. IRNC has achieved 7 of the applied for 14 patents. If you review the USPTO website and analyze the patents they have procured, you will see a methodical approach to protecting their technology and symbolic company designs therein. In assessing the patents, I feel that the most recent patent procured on March 20-23rd, is the most qualifying indication of what is coming here.
Patents are extremely expensive to procure, and even more expensive to enforce. IRNC needed to be ready for the former, but more importantly the latter. There are rumors flying around that their technology has already been infringed upon and a mega lawsuit is pending.
Back to the overhang. I believe a group has become aware of this opportunity, possibly in coordination with the recent conversions, and are attempting to take full advantage of this malaise. I have attempted on numerous occasions to confirm the infringement with the company and have only been told that to watch the public news releases.
So the aforementioned can clearly be bracketed into the likely, but certainly not yet confirmed. As to the trading and manipulation, of that I HAVE NO DOUBT. Predicated on that, I know something is coming and it must be pretty big, for these games to keep going.
As for me, I am a buyer of IRNC.
