Calypso Wireless (fka CLYW)

[litton51]

Under current circumstances (which we arrived at by means I do not understand), the only option stockholders have is to petition the court to appoint a receiver for CLYW, removing the unelected BOD. I read somewhere that Dave Williams has done this and received a summary judgment allowing him to do so. The receiver would then have the power to run the company or declare bankruptcy and liquidate the company, with the patent(s) being auctioned off to the highest bidder for pennies on the dollar (which Daic would probably win). We stockholders allowed this to happen; one may argue we even worked to make it happen. This is typical of penny stocks; there is no institutional money to do anything the owners (us) want. CLYW stockholders are like drone bees; figuratively, we do all the work and then die.

As of this moment the only power we have is (1) to attend the informational forum in two weeks; (2) use the court to take control; or (3) grab our silkies and suck our thumbs and wait to see what happens. Up to now, (3) has been the reality.