HEWJ OPINION below:
The settlement was with Google, Nest and Dropcam. Plank believes this was significant as Google was NOT even a party to either of the federal court litigation cases, only Nest and Dropcam were. In Plank's lowly opinion, --as Plank recalls, Google added its name to the IPR, for some reason, they wanted their name on it....even in Plank's lowly opinion Plank does not think that their name as holding co was required (btw, I don't think they ever added "Alphabet" the true legal name)....interesting.
Also after which, we revised our fee agreement with Handal, where the firm takes LESS cash per month for a higher contingency fee....for those who are not in the field.....(opinion ; ) ) this normally would only happen when you expect higher settlements!!
the new atty agreement was clear, it is only for Nunchi and not MicroSignet and Synap....Plank's guess on this ....is Handal will be BUSY. Probably with non defendants and defendants.
We also had a settlement with Mivatek that was announced about the same time.
Also after, we have TWO new board of directors...these guys are no ho hum kinda good business experience...these two guys are TOP of the game international executives with LOTS of M & A experience..global M& A experience. They also got stock options....so why would two guys want stock on a company with zero income for a quarter...hmmmmm squint, it will come to you!!
Also, we filed a second Notice of Settlement with Arcsoft, although the final dismissal docs are STILL not filed....we are not caving...we could have caved years ago on this one...you may recall we thought we had an early settlement with Arcsoft that did not go forward for whatever reason...Anyway in Plank's lowly opinion....a typical settlement, even a large dollar settlement with royalties, can be executed in 30 days.....only a recanting //or a complicated settlement, such as a co-branded product or similiar should take so long....Plank votes for second choice here.
Don't forget the financials were only through the end of the quarter...September 30th...by the time the report came out Nov 10...there were already 40 more days where income could have come in.
One of the accountant types on the board should review the quarterly history on the company's "trade payables" and try to figure out where the debt is coming from?? Come on ....we are NOT manufacturing eVus....etc...so what is that trade debt for???? Get on this! Go forensic accountants....Plank is waiting.
*****
Astericks since Plank is so opinionated. ; )
