I have been involved in 3 episodes just like UOIP ...over the last 15 years..in all three cases investors bonded together to hire lawyers in order to get justice...
0-3 for shareholders. cmkx, bcit, Nortel
So for me, I have to weigh those past experiences against this issue with UOIP.
Do I really feel like throwing more money in...high probability of that making no difference based on my past experience.
And my answer is an unequivocal NO.
Having seen how these types of cases play out..the shareholders end up with little to nothing and the lawyers ALWAYS make bank.
All the risk is on us...and I already risked investing in UOIP understanding the reason I got into the stock in the first place was because the patent infringement case was a slam dunk..and it was/is...but as we have seen there has been little to no progress...and lawyers need more money..and so it goes...this is the process.
I would be wrong to throw more good money into this fight based not only on my past experiences but also because of what I am seeing now with regard to the litigation and the progress being made for those currently funding the litigation.
Kenny Roger's said..you need to know when to holdem..and when to fold em...
I never ruled out contributing but I wasn't going to be first in..I wanted to see if there was any progress.
After assessing the situation.....
I made a decision and I think for a lot of us, the majority...we see this for what it is...a high risk low probability of us even getting our investment back.
To the 7 or so who have graciously stepped up..I would suggest that they have a lot more on the table than the majority of shareholders.
I wish everyone good luck on whatever decision they make.
I do what is right for my family.
When you're dead you don't know you're dead. All of the pain is felt by others. The same thing happens when you're stupid.
