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Thursday, September 26, 2013 1:50:45 AM
OPINIONS - everyone has one or more.
My take is that it would be a very brave judge to rule against V/MC, even if the evidence is substantial. I am happy though, that those who ruled in previous Markman and Federal Court of Appeals decisions have provided reason for smme to continue to battle on.
Tech - I think you are correct not to be concerned about either the share price or the volume, for a few reasons.
1. we saw 545K shares traded as the price fell. That does not infer, but clearly demonstrates, that for every time someone wanted to bail out last night there was someone wanting buy in.
2. the above indicates to me that the shorts lost faith in making a quick buck through legal proceedings, and the longs that see real value in the company and its technology wanted to get in at low prices. I can understand that as many of us have done similar; we've bought stock based on some information and hope of making a quick big-buck turnover, then bailed when it looked bad, not wanting to ride the waves and hold for long. Fair enough.
3. what was it..? half of 1% traded means that 99+% were not traded because.... well there can be a number of reasons including laziness, or misreading the situation - thinking smme was going to win last night - or because the majority of stock holders are in for the long haul and the smme technology.
4. as for share price...I have continually said that its not an issue right now. Why would the share price be high when the company has only recently moved from an R&D situation to one of producing an item for sale/market? It should only be once the company announces it revenues and contracts and the like that the share price should rise, other than speculation attached to legal proceedings etc.
5. Its not feasible or realistic for a company to report its sales to its shareholders each week. That information shall be forthcoming when smme next reports to SEC, or through near future media releases. Show me a company that tells the world every time it sells some stock, outside the usual reporting periods.
6. court issues - well I do not presume to know better than either the judge or our legal team. But as you clearly stated, surely if V/MC had a negative result they would be moaning and banging on doors to have the matter revisited. And I'm confident the smme legal team will if the judge confirms the "error" in written form within his "final" judgement.
Congrats to all those you bought cheap last night, and farewell to the shorts who may well miss out.
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