Unfortunately I have no expertise in this particular scenario. However I have thought a lot about this scenario since we had been suspended and designated to the grey sheets. I personally find it very weird the SEC is being overly aggressive with this particular ticker. I also find it very weird that suddenly volume has spiked and yesterday when the "bad news" of the potential delisting came out we reached highs since we've been in the grey market and we closed even at a higher base we've made in the past week - all on 3.5 million in volume which is well over double the amount of volume we've had since initial dumping when we went to the greys. But lets get to the meat of all of this shenanigans.
On March 11th, one of two things will happen: Carter (or some officer with UOIP) will have responded to the SEC explaining they have not kept up with financials because the company has not been operating for years now, and also probably bring up the fact that their CEO Robe Howe suddenly died from cancer so there has been no officer to keep up with the fins. OR (more likely) there will be no response and the SEC will move to delist UOIP and the shares we all own will be shares of a private company.
The reason the latter is more likely in my opinion is that Carter is not worried about share price or the company being public - and why would he? All debt was converted at a much lower range back in the ending of the dilutive period (between .0015ish to .0025ish). He does not care whether or not the public gets a share of his spoils. I did read today which does have an interesting effect on the case - having the public involved in this case gives them an edge showing that there are little guys here effected which tends to the Judge and jury's feelings to cause high damage numbers and higher probability of victory in trial.
If by chance Carter does put together a response by March 11th - we continue trading on the inefficient greys as usual and I suspect the price to be even higher as some people sold being nervous and would be looking to get back in after that move. Also it would show he has a reason to keep the company publicly traded. However this option is in doubt.
Therefore it leads us to owning shares in a private UOIP until the case is resolved (which we have all been discussing should likely be this year even if we get the Cisco appeal back to the PTAB). That leaves us with the all important question - how do we get paid? Well lets first realize that the only way Carter pays himself is if he simultaneously pays all of us common holders. He is a common shareholder just like us and the only way to get the money to his pockets is a cash dividend. He will likely offer a share buyback somewhere in the time of the company being private and the settlement or buyout occurring. During this time people will sell their shares because they are scared and will probably sell at a significant discount - major mistake. If he is offering to buyback the shares he obviously has purpose to buy them. Why would he offer to buyback if he wasn't atleast getting some interest on that buyback. Still some will sell and he will get a larger percentage of the reward.
I do want to clarify that the inventors of this tech and Deidre Leanne are all common holders like us as well. Part of their sale agreement of these patents involved the common shares to keep significant skin in the game in this case to come out wealthy at the end of this case. I'm sure their friends and themselves have bought some of the float since the beginning. Do you think Carter would screw them over - and also ask yourself how could he under the Delaware protection laws of shareholders. We are all in the same boat and that is the beauty of this UOIP ticker that is going to bring boatloads of cash for the tech that has the cable companies by the balls.
Finally, if there is some loop hole that Carter could take and walk away with all of the money - do you think he wants to face a class action lawsuit from shareholders and inventors alike? He's already going to walk away from this case a very rich man - no reason to get involved in that and what would definitely be a damaging case to his bank account / character and business going forward (as we all know he does this for a living and who would do business with him afterwards). Not to mention one cannot just simply sell off rights to patents to another company for nothing. If there are other shareholders that deserve a fair value on those patents then they can definitely get big damages out of the officer who committed the offense.
Reloaded with 15 posts today so ready to converse with you guys again :D
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