I just read through the ENTIRE transcript, a most entertaining 30 mins. of my life. As I understand it, these IRON RIDGE guys and the TCA**holes tried to screw this stock in order to bankrupt this company in order to steal their patents.
This judge--who called "ball and strikes" essentially saw through most of the scheme, called BS, and tried to get the Defendants to be reasonable by stating that "a bird in one hand is better than two in the bush."
But, they wanted to be greedy. The Intellicell lawyer said they would just try to beat down the stock even more.
Anyhow, some investor put up a half-million dollars to save the good doctor's company. It's nice to have friends in high places.
So...doc releases a couple billion shares in order to never deal with loan sharks from The Cayman Islands again.
Whether they are restricted, dilutive, or whatnot, it still makes better business sense than extortion. Obviously, this stock has been beaten down to the point of bankruptcy, but it just might regenerate from the ashes and live off the fat of the land.
I feel better about my investment now. I will let it ride. As the judge intimated, life is a gamble.
