5BARz International Inc. (fka BARZ)

[roguewave5]

The DocketBird links were first provided courtesy of Keyman18 & Kel Varsen. I have not yet paid to read the full disclosure, maybe they have? The titles can be misleading but I think if you take time to follow them it's possible to decipher. In a little more detail here's what I think happened and of course I welcome corrections if I'm way off but;

https://www.docketbird.com/court-cases/Blue-Citi-LLC-v-5Barz-International-Inc/nysd-1:2016-cv-09027

Blue Citi hired a lawyer (Levi) to get their money back from 5barz. Then a second lender jumped on the bandwagon, EMA Financial. Along the way the court forced 5barz into Receivership and was handing over control of 5barz and all assets to the Receiver (Levi).

https://www.docketbird.com/court-cases/5Barz-International-Inc/flsb-1:2020-bk-14866

This forced 5barz to file for chapter 11 protection to reorg but with a Subchapter V provision that allowed 5Barz to retain control of the company and proceedings. This is where I believe 5barz must have or may have received some outstanding payments from Vodafone and were able to convince the court with the help of their lawyers that they could repay creditors. Again, here we can see the list that has been accepted by each creditor, to the tune of $2.3 million. Even Tushar Shah is listed as a creditor. And under the provisions, 5Barz has been submitting timely financials according to the rulings. It looks like the 2 legal representatives, (Mancuso & Martinez-Molina) for 5barz are withdrawing because their job is done and now they are pulling in a new top notch Subchapter V Trustee (Tabas)to steer through the Chapther 7 conversion, which now looks like we have at least, maybe another 2 months to go. I'm guessing at some point they still plan to go public again, maybe a clue on the 5Barz website that there is an IR tab again (placeholder).

The difference between 5Barz and Cubera to me appears to be that 5Barz is now strictly the Network Extender, which we can see from the websites. They have striped out the Router.

So I believe that Cubera is now the Router and the Big Data business, which Danny alluded to as a whole new business eclipsing previous expectations. It would be nice if there were a way to find out from Kaynes Tech if they are pumping out routers by the truckload.

I have a wild imagination so I still wonder if David Habiger is still with the board. David is CEO of JD Power and JD Power has a big presence in Asia and Singapore. Collecting data points from customers from the ROVR Router could be something they're striving for.

I believe you also suggested something similar in a previous post, the GOOGLE model. The question being for how long, or could they continue to roll out [free] routers until they reach critical mass.

And of course they have the pandemic to deal with as well so who knows what damage that has done but the good side to that is 5Barz should be catering to the increased Work-from-home demand if they have anything?