There is no doubt that the BOD will try to reverse the original $100 million judgement that Daic was awarded, and they should, but the issue with that is two-fold.
One, if they settle out of court with Daic on the current case, that settlement will probably preclude them from reversing the original judgement, Daic would surely require language to that effect, otherwise no deal. So they're going to have to take this case all the way to a jury and win it outright if they want to go after the original judgement, which means no quick settlement here and I expect Daic will drag it out and the court's dates will get moved back as they always do.
Two, it takes money and CLYW has none from what I've read here. The only hope for money is a deal with TM because they have no stock to give out and I don't see investors loaning them cash with nothing in return except a promise.
And so, in reality, the whole thing rides on CLYW getting a quick deal and cash out of TM. I really don't think that's going to happen quickly. They have at least till the end of the year, or close to that, with the 90 day stay. And there's no guarantee a deal will even get done. Don't you think TM knows CLYW has no money? I think TM could be stalling for time.
So that's why I sold half my holdings and will bail on the other half if I see it start to collapse again.
AI
