EDIG derives benefits from simply filing regardless if they are at fault.....
First, even if they are at fault, what do they have to lose? Credibility? Nope. Time? They have plenty of that? Money? Get real; they have plenty of shares left for this year and beyond. So roll the dice. Maybe F-T throws them a bone to avoid arbitration; maybe they get lucky and get a moron as an arbitrator.
What is clear is if they do nothing F-T is not going to pay them a dime.
The next thing to consider is if you believe like some do, that EDIG is mostly interesting in selling shares, then there are several other benefits they derive. Win or lose, it buys them time. It gives them more time before it becomes crystal clear that they totally blew this deal. It gives them a couple of weeks/months of claiming it was not their fault and gives them time to come up with the "next great" thing to make the bagholders forget all about this one.
And if you noticed, one of the key elements was this passage:
"Due to the uncertainty of the timing and the exact outcome of the Eclipse by Fujitsu Ten settlement or arbitration, we are not able to provide preliminary numbers for the quarter ended March 31, 2004 at this time. As soon as we have this information, we will release the settlement or arbitration decision and the preliminary March 31, 2004 fiscal year results pending final approval by our auditors."
The way I read this is they just gave themselves a free pass on providing numbers until this is settled. If that is the case, they get to delay disclosing a couple of things:
- Just how little they are making per unit on the GW deal
- Exactly what the IFE units have added to the bottom line
- What a complete and utter disaster the last quarter was even with all the touted activity
So why do it? A roll of the dice, keep stringing the sheep along on another "not our fault ride", and avoid disclosing unfavorable financials. All of these would fit right in with past EDIG business practices and actions.
Now, why is it you think that F-T would tell EDIG to bag a signed contract unless they have valid reasons? First, stroking a check for $800K is nothing for them. Second, they are exposing themselves to considerable more risk by telling EDEIG to bag it. Why would they do that?? What do they get out of it?
Is this another case of F-T was great when they were working with EDIG but have become the ultimate evil bums now that they are not? What have you seen of their past business practices that makes you think they would just flat out stiff EDIG and try and steal their tech? Have they tried this type of thing before? Or are you just biting on what EDIG tells you?
Based just on your own experience, who do you think is more likely to be playing games here, EDIG or F-T?
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