Everyone has been speculating and I've seen a lot of low numbers lately… While I don't know a per share $ because we don't know the settlement amount, I do believe we'll get our fair share of whatever that is. Here is what we know:
1. Deirdre is saying Billy owes her north of $250,000.
2. In the TRO, Deirdre alleged that Billy took loans vie Bentham for personal expenses.
3. We know $5million will be owed for purchase of patents.
4. We know that when many folks consulted lawyers about potentially taking on our case… they were told that, if Deirdre's allegations were true, Billy's actions would have been illegal.
Here are some conclusions I would draw from those and other things we know:
#1, There are quite a few of us who would support seeing this through. Where each of us would have a small share of any financial burden to fight this… Billy would be going it alone.
#2. Billy has enough going on. Dierdre, Bentham, paying different lawyers, etc. whereas we have a narrower focus…. Just Billy.
#3. We have the law on our side.. What lawyer is going to front Billy money to fight a losing battle? They are going to want $$$ up front, and if they're good, they are going to tell him that it's a waste of millions and he'll not only lose but possibly have to pay treble damages. There is no risk of treble damages on our side.
#4. Few if any of us owe someone hundreds of thousands of dollars… While I know we want to get money ASAP, I imagine Billy does to an even greater extent than we do. His "fair and square" amount is still going to be very high.. I'm sure he'd rather have $xxx million now sitting on a beach somewhere.. than being in debt while fighting it out for scraps for years (where after penalty and legal fees he may end up with less anyways.)
#5. Pressure…. Bentham, lawyers, etc. are incentivized to get this thing finished, and can pressure Billy into doing so…. Especially if they see that he is in the wrong. No such pressure would apply to shareholders. We have 'nothing to lose', and none of the other stakeholders has anything to hold over our heads like they may with Billy.
For the reasons above, I think some of the low estimates around here really don't account for the solid position we are in. We have strength in numbers, we have focus, we have the law, we have funds, we have patience. If Dierdre's TRO and other filings we've seen are to be believed, Billy has none of those things. I like our chances and look forward to a fight and/or resolution.
Have a great day everyone!
