Well, LocWolf, while we wait, it should at least be interesting to see what HDC does with filings and an annual meeting in the coming couple of months. We know that they deliberately haven't commercialized anything (contrary to what they initially told shareholders), since they've been at the helm for over 3 years and have only pursued legal issues (and granted themselves significant numbers of shares). It still boggles my mind how or why they wouldn't have made any efforts to commercialize something - perhaps they are inept (likely), or perhaps they thought they could settle something with Intel quickly (also likely although, if that was their thought, it backfired). Either way, they've deliberately failed to adequately represent shareholder interest, and the team should be ashamed of itself. As it relates to a potential annual meeting, I can't imagine one will happen this year because a) funds are running low, b) there are only legal issues to report, nothing else, and c) HDC made a mockery of the meeting last year and then rewarded themselves as their first order of business post-meeting for their 'ongoing contributions to the company'.
That said, we have to assume they will issue a 10-k, although I wouldn't put it past them to once again come up with a reason to request an extension. Time will tell. Once it is issued, I'm really interested in seeing how much cash is left. Further, since they haven't commercialized anything, they don't need to spend any time outlining the potential value of the IP, since the IP has proven worthless in their hands. They've just wasted the sole rights to SVM-RFE. On the other hand, what they need to outline in the 10-k is something substantive relative to the ongoing legal issues. Intel, of course, is the primary issue, but they also have an obligation to tell shareholders what is going on with Vennwest, Bear, and Moore. I guess these lawsuits are just draining the money, so here's a thought. I'd be interested in others' feedback:
Given the apparent likelihood that the Intel suit drags on, and given the shameful strategy in which HDC won't commercialize anything to generate revenue, reality says that the company's finances soon evaporate, resulting in bankruptcy. So....what happens under this scenario? Would the Intel suit still be pursued? If so, and if HDC in bankruptcy obtains a settlement or a favorable jury verdict, what happens then? Do those with preferred shares (ie, George and the other guy who loaned money and granted themselves significant equity) come before us? I'd be interested in what potentially happens here because, based on circumstances, I actually can't envision a scenario in which bankruptcy DOESN'T happen. Obviously, I hope to be proven wrong.
The team won't have the money to carry us through, assuming Intel continues the fight into 2022, and the current lawsuits are exhausting the money. Accordingly, is there a chance the current team gambled and lost, and now needs an 'out'? Perhaps they tell us (very soon) that they "would have been able to move the company forward, had it not been for the legal actions against them"? I wouldn't put it past them, and I believe the next couple of months may be very telling about HDC's success or last gasp.
It's unfortunate that the current team strategized in this manner, rather than focusing on running the company.
