Good afternoon everyone! Was looking over the TRO again and just wanted to highlight a couple of specific points. The big thing, which stands out to me in bold below, is that Bentham is capped at 5x of what they lent, at least according to Dierdre. I knew I had read that somewhere! Of course, if Billy used that for personal expenses, then even that appears to be too much.. but the point is that they may be possibly be capped. Elsewhere it seems they wouldn't be.. so that's confusing and why we shouldn't just sit back and let others determine our fate. Anyway, I know some people haven't been here in a while. I'd encourage you to take a look at the TRO if you haven't. Here are a couple of quick highlights.
Page 26--- Dierdre alleges Bentham loan was not authorized.. especially because Billy (she alleges) used it for personal expenses.
Page 35--- Dierdre alleges that there are roughly 1billion shares, of which she owns 4.5%
Page 35--- (and numerous other places) Dierdre confirms that UOIP owns the patents "Unified's only asset is its 100% ownership of ChanBond."
Page 35--- Deirdre indirectly confirms that the $5million purchase price owed to Chanbond could be paid after settlement "Unified's ability to pay the $5,000,000 purchase price, and the value of Ms. Leane's interest in Unified, depended on Unified profiting from the ChanBond Patents"
Page 36--- Per Dierdre, after lawyers et all are paid, the max we're hoping for here is 1/4 of recovery "Unified's potential interest
in any recovery on the ChanBond Patents was limited to a maximum of 24% of any recovery"
Page 38---Dierdre alleges that Bentham is capped. (If true this is great) "Bentham is now entitled to recover
as much as five-times the amount it loaned ChanBond, which payment, depending on the size of
the recovery, might exceed 25% of the proceeds."
Page 38--- Dierdre alleges that UOIP portion is 9.8% of the proceeds in the 'low' scenario.. although she had stated elsewhere that if the global settlement was $50m, shareholders would get nothing.
Again.. lots of confusion and in some cases contradictory stuff. Dierdre took the time to get help and file this 150 page TRO, and it makes sense for shareholders to do the same.
