Strike One and Strike Two Now Under a Buck.
I thought that that the reason Gig had such phenomenal growth was due to the 40 and 100 gig forward looking blah blah blah market and not a settlement with National Instruments? So it looks like 3.5 million plus 500k divided by 12 months that is about 10 Grand per day, every day, that they need to make up in sales in 2013 just to tread water. No wonder mgmt. sold. I can not wait to see how that is worded and how the graph looks, perhaps that will also get backed out of the historical charts going forward, Lol.
And don't forget National Instruments owns (or owned) over a Million shares of Gig.
On October 4, 2011, National Instruments filed a complaint against ChipX and GigOptix in the District Court of Travis County, state of Texas, pertaining to two sales contracts to which National Instruments was a purchaser of products sold by ChipX. GigOptix is not a party to either contract. Prior to the filing of the complaint, the parties had been in discussions regarding the pricing of the products sold under these contracts, the number of products to be sold, and the length of time during which the products would be sold. National Instruments’ complaint sought a declaration that it was not in material breach of one of the contracts, as ChipX had asserted, that ChipX could not modify the prices in the contracts, that National Instruments could purchase products sold under one of the contracts directly from a supplier, and that GigOptix was not entitled to any damages from National Instruments as it is not a party to the contracts. The complaint also sought unspecified damages for alleged breach of contract by ChipX. ChipX and GigOptix never responded to the complaint, or filed a cross-complaint against National Instruments. The parties have now settled the matter. Pursuant to the terms of the settlement, National Instruments has paid ChipX $500,000 to license rights from ChipX which will enable National Instruments to manufacture the products sold under one of the contracts, National Instruments will make one last purchase in the amount of $3,500,000 of such products from ChipX to be fulfilled during 2012, and National Instruments shall have the right to purchase products sold under the other contract directly from the supplier in exchange for a royalty which the supplier will pay to ChipX.
And now news on the guys that created/arranged the assets of a company (but not the liabilities) to be transferred to Gig Optix upon founding. Some say it doesn’t matter, but IMO this is just the tip of the iceberg and there is much more to follow.
BOISE, Idaho (AP) — A federal grand jury in Idaho has indicted the former president and three top executives of a failed Boise-area real estate company on charges that they mislead investors and conspired to dupe them out of millions of dollars during the economic downturn.
Assistant U.S. Attorney Wendy Olson announced the indictment Wednesday against Douglas L. Swenson, who was the founder and president of DBSI Inc. and a group of other related companies.
Swenson, along with DBSI's general counsel and two other officers, are accused in the 83-count indictment of conspiracy to commit securities fraud, wire fraud, mail fraud and interstate transportation of stolen property. Swenson is the only one also indicted on conspiracy to commit money laundering
AI
