The whole history can be summarized by saying "Inadequate Legal Representation and Insiders".
Calypso now has legal representation that does not appear to have any conflicts of interest. The new BOD have a vested financial interest in seeing the company succeed. They are not paid and they are not obligated to the Daic parties. If you have read these documents you have seen that Calypso's attorneys are usually not able to complete the court cases, mostly leaving before it was in Calypso's best interest because Calypso lacked adequate funding to keep an attorney. You should read the SEC filings also for the 2008 period and you will see Pattin and his involvement. In my opinion, there are substantial issues to address concerning the Daic parties involvement in causing a depletion of funds from Calypso and the 2009 non-agreement, which has also resulted in legal costs to Calypso. You need to read the original case in state court and you will see some very disturbing events and lack of a case. Had the original case been defended to the end by adequate legal representation, I don't believe Calypso would have owed the Daic parties anything. I think you only have to look at the fact that Calypso has had to deal with all types of distractions dealing with the Daic parties. The new BOD has isolated insiders and removed them from Calypso, so there is no interference from within. I'm hoping that if there is a trial, Calypso is able to re-open all of the previous cases. The 2008 agreement was made while they were involved in the Bill of Review case, to help legitimatize the original judgment and make it so Calypso did not have any appeal rights. Had the Bill of Review case gone to the end, I believe Calypso would have prevailed and reversed the original judgment.
What is different now is that Calypso has a new BOD with the guts to stand up and fight for the shareholders and no insiders working against Calypso. I'm not sure how they are funding the legal costs, but if it's not carried to the end, Calypso will not survive, the patents will be turned over to the Daic parties and the new BOD will lose their investment, as well as ours.
I believe there are a host of interferences, a web site not authorized by Calypso, a 2009 non-agreement, the patents listed incorrectly with the USPTO, (see the document at the beginning of this board to Daic for others).
I believe the new BOD will prevail, if this thing goes to trial. I wouldn't be surprised if it settles before trial, since the Daic parties have a history of trying to get settlement agreements. I don't think they want this case to go to trial because of the possibility of reopening the prior cases, which in my opinion, they would lose.
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