Worth DD'ing Sullivan...
IoT is a sexy domain, however Sullivan's capacity to bring a product to market is severely questioned.
Sullivan is NOT A TECHNICAL GUY.
He said he applied for a patent in Feb 2015, but there is no traces of the application nor any patent in US databases. ARCI paid $16M for the intellectual property, that apparently is non existent.
He failed an association with Itraq to bring the same 2g module for geopositionning.
Cell only positionning is highly inaccurate, and 2g technology is being phased out by the major carriers
In my opinion, the auditors have a genuine problem recognizing an asset value of $16M for the IP
There would be a big impact in ARCI net value id Intangible assets were greatly devaluated.
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