"Did not a firm a while back want the privilage to represent us in court and pay us 5 milliom to do so .Why aren't we going down that road?"
It is a good question... and there are good answers.
First, that deal that was offered was turned down by Daic, who the board are suing now for his interferences in the company's business. Daic didn't want that deal to be done, because it would have enabled CLYW to pay him and thus forcibly remove him from a position of control.
Second, that deal that was offered to us was offered by Acacia, an A team patent law firm. They were willing to pay us $5 million up front, which would let us get rid of Daic, who was trying to do everything he could to take 100% of the patents away from us. BUT... while the Acacia offer clearly validated the value of the patent... it ALSO came with the requirement to transfer of 50% of the patent to Acacia, in exchange for them doing the work of enforcing the patent. CLYW would have gotten rid of the Daic risks, which the $5 million would have enabled... and they would have gotten the benefit of Acacia doing the patent enforcement for us, but, it would have cost us 50% of the patent...
I opposed the Acacia deal... not because I thought Daic was right, or because he offered a better deal... but because I didn't want to surrender HALF of the future value for only $5 million, particularly when the Daic effort was so... poorly structured and weak.
So, given a choice between losing 100% of the patent to Daic, or losing 50% of the patent to Acacia... the correct answer was: No.
CLYW is now paying the attorneys for their work... hourly... not surrendering ANY of the interest in the patent.
CLYW is also suing Daic... is likely to win that suit and any subsequent suit that might be derived from it. The likely result of that... if Daic is lucky... will mean Daic is no longer involved, and surrenders all his shares and all his claims against CLYW.
The path being followed... leaves CLYW in control of 100% of the patent... while ALSO removing Daic et al, and leaving Daic et al owing CLYW 100's of millions of $$$.
There is NO dispute, here, between shareholders who were not a part of the Daic malfeasance, about whether or not CLYW should own 100% of the patent.
The only dispute will be about how hard the company should squeeze Daic et al as the problems of the past are corrected.
My opinion is that the proper resolution of the civil suit is critical for Daic et al... in order to enable them to avoid criminal charges. I don't think the board will settle with Daic for anything less than they should... given the nature of the offenses that were committed against CLYW shareholders, and the strength of the evidence against the offenders.
JMHO
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AI
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