Affinity Technology Group, Inc (fka AFFI)

[stervc]

Doctor, true, but important in 2008 for AFFI...

How true, but in 2008, things ”greatly and quietly” changed in favor of AFFIQ which is now showing up as AFFI for not being in bankruptcy anymore. Of course, people should always be careful as this is the market and you just never know with any of these companies. As for the true future plans of AFFI, I have no idea.

However, the court case that you speak of in 2007 is when the United States District Court for the District of South Carolina had dismissed the patent infringement charges that was brought against Federated Department Stores, TD Ameritrade and HSBC filed by AFFI as indicated below:
http://quotes.stocknod.com/stocknod/news/read/5409446/affinity_technology_group

But then it was later quietly brought out after the cases were dismissed that the United States Court of Appeals for the Federal Circuit (the “Appeals Court”) remanded back the judgment made by the United States District Court in Columbia, South Carolina (the “District Court”). This was done on July 30, 2008. Because of what was remanded, Ameritrade simply settled their lawsuit with AFFI of which it stated that specific terms of the settlement agreement were not disclosed due to the confidentially terms of the agreement:
http://finance.bnet.com/bnet/news/read/6159949/affinity_settles_lawsuit_with_ameritrade?tag=content;col1

With the Q being removed, maybe AFFI now has a plan and had one all along, but maybe they don’t and have no intentions on moving forward. Because of the magnitude and the tenacity that AFII had back then in going after the Federated Department Stores, TD Ameritrade and HSBC, I don’t see why they wouldn’t be waiting in the wings for the right time to move forward.

You can’t help but wonder that if whatever with that final ruling by the United States Court of Appeals for the Federal Circuit (the “Appeals Court”) was so powerful that it made Ameritrade just throw in the towel to stop fighting AFFI against the patent infringement charges brought against Ameritrade, will be that powerful to maybe make HSBC and those Federated Department Stores see that same light and simply settle with AFFI too. Or maybe they have already settled and we just have not heard about it yet. Something in favor of AFFI has to come of it because of the United States Court of Appeals for the Federal Circuit (the “Appeals Court”) remanding back the judgment made by the United States District Court in Columbia, South Carolina (the “District Court”).

There is risk as this could go either way, but something major and positive did happen that could be the reason why such a move as I am confident that the share structure is unchanged with their Outstanding Shares (OS) being 47,142,398 shares as indicated within the last 10-K filed back on 31 March 2008 simply because you can’t do anything to change the share structure when it is in Bankruptcy status with the “Q” at the end of their ticker since today is the first day for AFFI trading with having the “Q” removed:
http://www.sec.gov/Archives/edgar/data/1007508/000115752308002632/a5644917.txt

The patents under topic that AFFI was suing the Federated Department Stores, TD Ameritrade and HSBC for patent infringement are indicated below:

http://quotes.stocknod.com/stocknod/news/read/5409446/affinity_technology_group
About Affinity Technology Group, Inc.

Through its subsidiary, decisioning.com, Inc., Affinity Technology Group, Inc. owns a portfolio of patents that covers the automated processing and establishment of loans, financial accounts and credit accounts through a remote interface, as applicable. Affinity’s patent portfolio includes U.S. Patent No. 5,870,721C1, No. 5,940,811C1, and No. 6,105,007C1.

I have no idea the value of these patents, but I would have to say at the very least, somewhere in the millions just based on the attention that they were given back then and because of the fight that was put up by suing the Federated Department Stores, TD Ameritrade and HSBC. We do know that things have changed for the better with the “Q” being removed today and because of how the ruling changed to be in their favor.

v/r
Sterling