A DD Summary... VERY basic...
"Is there anyone that can summarize the current scenario CLYW finds itself in for all us newbies on board? "
Well, it traded from $0.08 to $0.156 today... maybe higher tomorrow... without really being "discovered" yet.
The DD on CLYW is not a quick and easy task, and it would likely help a lot if you were a lawyer... play a lawyer on TV... or write scripts for a soap opera. Otherwise, you either start looking real quick for a Holiday Inn Express... or you learn real quick who you should trust here, and who you should not.
Here's the "Cliff Notes" version... as short as I can make it.
Basic story is that CLYW started out being run as a promotion scheme by some less than reputable characters in Costa Rica... and then it transitioned from that initial patch of ugliness to being run by yet another group of less reputable characters in Texas.
The story has always centered on the key value in the "923" patent. The patent is real enough... real enough that people who know these things either want to own it themselves, or want to destroy it to avoid it if it might apply to them. It is the original internet "convergence" patent that covers a cell phone automatically switching from a using a cell tower to using a higher bandwidth wifi link. It has always scared the holy crap out of the cell phone companies... who now understand both that they need it... and that CLYW and the patent aren't going away. The are all using it now, but not paying CLYW for it... yet.
That bit of "convergence" tech was still years away from implementation when CLYW got the patent, but it is here now... and, in spite of a lot of effort applied against them, the patent still stands, and CLYW still owns it and remains standing, too. Meanwhile, with a large and growing number of companies who are infringing now... it means big $$$ is at stake.
The last group in that sequence of prior bad management... Daic et al... were helpful without really intending or wanting to be, when they cooperated in pushing all the prior bad guys out, thus narrowing the remaining universe of problems down to a single, more manageable cabal.
Then CEO Turrini obstructed Daic and prevented him from succeeding in many of his early efforts.
The SEC helped some...
Confronted with new impositions by them, the CLYW shareholders took action to protect their interest from the Daic led efforts to interfere with and obstruct the company in its conduct of business. A shareholder, Dave, who used to post here as DHWCO is now the chairman of the board... and for the last two years, roughly, he has been working with Turrini to try to restore things to rights in CLYW.
Daic et al continued efforts trying to destroy the company and steal the patents in that time.
They failed... and failed quite spectacularly and in an almost cooperative "stupid criminals" sort of fashion... while the shareholders group observed and gathered evidence.
Now, CLYW is suing Daic et al to remove them from the company and to require correction of their prior wrongs... in Texas State court in Houston... and at the same time CLYW is suing T-Mobile for patent infringement in the Federal court in Houston.
The Daic trial is scheduled to start November 15. Daic has long been the only obstacle to CLYW conducting proper business, including signing licensing deals, and including settling with T-Mobile. T-mobile is not scheduled to start trial until next fall, but the case presents some big risks for them much earlier.
This week... CLYW and T-Mobile filed documents with the court saying they think they can settle their dispute within the next 90 days... during which time the Daic trial should be completed.
That likely wouldn't have happened... without T-Mobile seeing the writing on the wall in BOTH the Daic state case and in the patent infringement suit...
With cooperation in a settlement, T-Mobile might gain more than they stand to lose going to trial...
That leaves shareholders now looking at a 90 day window in which all of these things might be resolved... with that looking like it will happen in a way that is favorable for shareholders.
So, pick a number... but, the most common "apples to apples" comparison made here is with QCOM back in February of 1999.
From the start this morning, CLYW would match that performance of QCOM when it hits $5... but, people who've tried to make an honest effort at coming up with a proper potential valuation have numbers that range from $1 to $5 in the near term... out to $10 to $25 mid to longer range.
Hope that helps.
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