Replies to post #58689 on Calypso Wireless (fka CLYW)

[drkazmd65]

Back with that bit of mis-information again flaflyersfan?

SEC cannot revoke stock.

SEC can only revoke trading status of a company's stock.

As our stock's 'trading' has been revoked, but our stock has not been cancelled,... we are still shareholders.

We just don't have any real idea what that stock is worth AS there is no market to price it, and we don't know what assets/settlement monies we will get (if any) from our lawsuit, and potential sale of the company's primary asset.

Thanks for playing though.

[downsideup]

You are wildly incorrect... and might want to argue that point with the Delaware courts... whose rulings disagree with your opinion.

"No broker-dealer may execute any trades in stocks whose registration has been revoked pursuant to Section 12(j)."

http://www.sec.gov/answers/dfnctco.htm

The only thing SEC revocation of the registration of the stock does effect... is trading. The registration effects the trading status... not the existence of the shares, or the existence of or legal status of the company, and those things are issues that the SEC and registration have nothing to do with.

SEC prohibitions restricting what broker-dealers can do... doesn't alter any of the shareholder's rights or their ownership interest in a company that is no longer publicly trading. Privately held companies that used to be public, still have the same shares of stock, and still have the same stock owners as before, too.

CLYW is a Delaware company... so it is Delaware law and Delaware courts that will control and decide all those issues in relation to who owns what, and what shareholders will get from the eventual winding up and final distribution of the value owned by the company.

That brokers can't trade the stock for you any more, doesn't change any fact in your ownership of shares... or the value of the company or what the company owns.

CLYW's trading status has been revoked... so, if you own shares, you can't trade it, but you do continue owning what you owned before. The company is not made defunct by revocation.

In the case of CLYW, the company is NOT defunct, but, as a result of shareholders having sought court protection from management, and from others wrongly seeking to take value from the company, it is in receivership, with a Delaware judge having appointed a receiver as an authorized replacement, able to act as he chooses, while directing things as he sees fit, while managing the business affairs of the company with, through, or in place of the company's board and the former management, or through others... as he chooses.

CLYW is still owned by its shareholders.

That will remain true... until the judge acts to change that fact, and terminates the companys' existence under Delaware law... making it defunct, which will happen, eventually.

The judge has directed the receiver to maximize the value to the shareholders, while exercising his business judgment in how best to accomplish that... before wrapping things up.

That doesn't mean the shares have any particular value, now. But, the company and the shares still exist, while the court appointed receiver works on winding up the company's affairs. There may prove to be a lot more value left in the company than it has in legitimate obligations, and, if that is true, the shareholders will eventually get a distribution of that value... after the receiver is satisfied his effort has maximized the value, and after all the valid obligations have been met, and after the judge says "OK".

CLYW owes a few people money, and CLYW owns patents that might prove to have a lot of value. Or not.

The receiver will manage the company to maximize the potential value of the patents, and then he will sell the property, settle the legitimate debts, and whatever is left over... if anything... will be distributed to shareholders.

No one will know what the patents ARE worth, until after the conclusion of any lawsuits that are required to enforce the rights the patents define, against those who are infringing them. When those suits are resolved... then we'll know more about what the patents are likely to be worth.... when they're sold.

If the patents are worth a couple million dollars, then there probably won't be much if anything left for a distribution to shareholders. If the patents prove to be worth a couple billions, holders might get a payment of some decent multiple in dollars per share.

Everything now depends, first, on the outcome of court contests over the value of the patents.

Then, sales of assets conducted in a bankruptcy or in receivership don't have a brilliant reputation as being the best possible method of maximizing value. However, the Delaware judge we have, has an interesting reputation in relation to requiring fairness in pricing deals. CLYW shareholders could be much worse off than they are, now, with CLYW in receivership... in this court.

The value of the eventual pay out still depends on what the patents are worth when they're sold...

And, that might all happen by the end of next year ? If things go well, and the value issues aren't overly large ? Or, it might not happen for a decade, if things go well, and the values are huge, making them worth fighting for, longer. You just don't know how long it might take the courts to resolve the contests, and appeals, or for the receiver to succeed in maximizing the value to the limit he is able, before winding up the company and its affairs.

I think the judge has also written an order creating a potential problem, under Delaware law, for anyone who intentionally misrepresents the rulings of the court.

Your opinion is clearly in error.

It may also violate both the judges' order and Delaware law.

So, you might want to consider adding another commandment or two to your list...

And, good luck to you.

[litton51]

BZZZTT! Wrong! CLYW stock was de-certified from being traded on a stock exchange but it remains. If you had any you'd see on your monthly brokerage statement that it sits there in your account as the number of shares you had when trading stopped at par value ($0.001). It means we still own the company. Once we win the TM trial and the receiver sells the patent, that total money, less what is owned legitimate creditors, will go to us owners.

It's my recollection that you have previously posted your false claim. Are you, perhaps, trying to privately buy some of this stock for yourself?