Agree. What you see in "trading" here now is fully consistent with what tends to happen in trading in any illiquid stock.
I see no evidence, now, of trading in CLYW being manipulated, as it clearly has been in the past, by the persistent effort of insiders selectively leaking self serving rumors while seeking to sell more shares... or seeking to perpetuate their wrongful control... or some other wrong. I also don't see much of an effort being made now in an ongoing campaign being conducted... which we've been subjected to for the last few years... as the illegitimate management sought to deny obvious truths and "spin" events to advantage themselves... at shareholder expense.
CLYW is still a POS stock that has already been suspended from trading by the SEC... that has been pushed off the pinks to the grays... that is not "quoted" on any market... and that is likely to be permanently removed from all public trading soon. It trades in a pattern that is typical for any illiquid stock... only, it also has the "benefit" of a having had a Delaware judge ruling the former management team were crooks... who needed to be removed from their positions in the public interest, replaced by a court appointed receiver... to prevent a Delaware corporation from being used in perpetrating frauds.
I think the court got that exactly right...
Weighing in against that... is the slim potential the end result won't prove to be the typical "fire sale" of assets that tends to occur in receivership.
But, given former managements persistent dithering, and worse, the company's only significant assets are still either held at significant risk of being removed to benefit the creditors (many of whom are responsible for imposing the problems that CLYW has suffered... in order to benefit themselves as creditors in exactly that way)... or, otherwise, as '923, are still held at risk of being proven to have been issued by operation of fraud on the one hand (as Daic claims he caused it to be issued) or of simply failing the test of a Markman hearing on the other.
My opinion is that the patent is sound... in every aspect other than the efforts that have been made to make it appear it is not. My opinion, though, doesn't matter...
So, how do you value that ?
What the patent will be worth IF those tests it must pass are taken on and passed... is different than what it is worth if they've been avoided... in the same way prior CLYW management effort have always managed to have them be avoided...
Will the patent ever get it's day in court ?
CLYW has always been a crap shoot that fully depended on success in validating the value of the patent... which effort has always depended on success in obviating the purposeful efforts in posturing the various obstructions that have thus far always succeeded in preventing the patent from being validated.
Thus far... it has still not been tested and passed...
How do you weigh the unknowables ?
Who in their right mind would bid to "win" ownership of a stink bait of a property that is still the active subject of an effort in fraud, apparently fully intending to destroy its value... which effort has succeeded in bludgeoning all the current owners into irrelevance... even if "ownership" in receivership is now LESS irrelevant than it has been in the last number of years ?
How telling is it that you can properly posture that CLYW investors lot has been significantly improved... by having the company forced into receivership ?
Will the patent be sold... before Daic's (wrongful, IMO) claims to have forced it be issued by fraud are disposed of... and before it has been shepherded successfully through a Markman hearing ? If so... the "potential" it represents... will be realized only by others... and then, only after they've overcome those same hurdles... and survived the other remaining risks inherent in CLYW's problematic legacies... that CLYW proved it was unable to survive.
Obviously... the outcome depends largely, if not entirely, on what the receiver chooses to do, and how he chooses to do it. The patent will likely have one value "before"... and another value "after"... those issues are addressed. Before they are addressed... the patent is a crap shoot. AFTER they are addressed, and only then, the patent could prove to be the value some assume it must be without yet having seen it pass through those wickets.
What will the receiver do with the mandate the judge has provided him ? How will he address the issues re the legitimacy, or the obvious lack of it, in virtually all of the prior "deals" that CLYW (?) or the company's illegitimately imposed board and/or management has said it has done previously ?
There is also risk that the problems CLYW has that are apparent enough... are not close to the limit in the problems that exist ?
What else is lurking out there ?
Others have pointed out... it could take YEARS to begin sorting it all out. I think IF the receiver opts to and is able to address the "value" issues in the way shareholders might most prefer... it likely will take significant time.
Will trading be suspended ? Or not ? I've said since I began posting here that CLYW was a stock fraud. The SEC... and the Delaware judge... apparently agreed, and they each did so in no uncertain terms. The SEC's "poster child for stock fraud" pales in comparison with the less flamboyant but more telling and specifically meaningful language that the Delaware judge used. But, now that the company is under the control of the court... it isn't the purposeful fraud... now... that it was ? Or, is it ? What will the discussions that the receiver has been directed to have with the SEC be like ? What history will he choose to address and revisit... and what will he choose to ignore as not useful to address... in his business judgment ?
I expect most CLYW followers are going through a form of withdrawal, now... given the sudden disappearance of the outrageous, but typical for CLYW, in the slow steady leak... more like a flood, recently... of insider information clearly coming from management and their "associates" as they sought to orchestrate a PR campaign to "massage the truth" of every element of what was being made apparent in the process.
The results were often absurd... including seeing the text of PR's being posted on IHub before they'd been publicly released... and seeing documents being posted on IHub that could have come from no other place... than management ?
The spin machine has now been stopped, it seems... with CLYW, for the first time ever... now in control of someone who HAS both an education in and proper appreciation for the requirements of the law... and sound business judgement he can exercise.
But, that singular obvious benefit of CLYW being in receivership that we can see, still does little to inform us about the plans the receiver will develop... while seeking to address the range of problems that still must be addressed... in a way that best comports with the judges instructions... while enabling the eventual discharge of the case.
All the same issues that made CLYW a total crap shoot before receivership... still exist... only complicated now by the combination of the receivership risks... paired with the legacy of another year of "effort" by former management, as they worked hard on running the company out of money, and accelerating the process of having CLYW dig the holes it had created, deeper and faster over time.
It's a clear benefit to have a vastly greater level of legitimacy in the management effort, now, than CLYW has ever had.
It's not at all clear, yet, if that that benefit can or will be sufficient to meet, or prove greater than, the challenges...
Given all that... I don't have much of a problem thinking a CLYW share right now... if you can trade them... and if anyone else decides to trade them too... might reasonably be priced at something between $0.03 and nothing at all...
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