Protagenic Therapeutics Inc. (PTIX)

[Slyder75]

This is great and all, but I think everyone needs to calm down on this one.

I do not see that Converge is a publicly traded company, nor can I find any information related to revenues. $20M is a friggin whopper of a lawsuit, and in most insurance policies, known misappropriation of trade secrets is excluded.

This information reads like the owners of Converge certainly knew what was going on, and if that comes to light, via evidence, during the trial, the insurance carrier is going to excuse themselves from the suit. At that point, Converge goes naked on this suit.

The likelihood of collecting $20M, plus defense costs, is low.

I just need to set expectations.

DISCLAIMER I did about 2 minutes of due diligence this morning on the web concerning converge. I can only speak to the insurance money that would be paid, as everyone would take out an insurance policy if it was a free-for-all, leaving the carrier to clean up the mess in its wake.