Super posted: But will a 10mil settlement really jumpstart this stock?
I think it will. If MARA made another offer, I' be back in. A .50 offer would be a 16% premium based on yesterday's close. What a blunder it was for ANTHONY and THE BOARD to not take that offer. I think in general CEO's have no respect for retail investors.
statistically, losing all cases is unlikely. Yet, my biggest fear is that either spex runs out of money before something positive comes in. I honestly dont see any victories in court within the next 12 months. This means they need to settle desperately to get cash. Which they then will use to continue running litigations.
What makes me hold on to this sick baby are following thoughts (but i may be wrong since i am from europe and have no clue about the behaviour of US pennystock CEOs):
1. the MARA offer at 1,15 (or was it 1,10?) was neglected by the board as too cheap.
2. spex has started new cases
3. there is more pacer action than ever before
problematic: Time is NOT on our side this time. And what would happen if MARA makes a new offer at 0.50? Market cap of Spex is currently 12m. Thats nothing for MARA.
Also, lets say spex wins a trial, defendants might or will go to the next higher court, prolonging the process and burning more cash. It cannot be AH's goal to win a trial. He MUST settle. But will a 10mil settlement really jumpstart this stock?
Check PACER. Interesting events taking place with Vtech and uniden cases. Spherix has over 60 active infringement claims at this point. If things work out in Spherix favor an additional 450 or so products can be added to the infringement charges. At minimum we have over 60 pending now with a very encouraging markman ruling backing it up. If Spherix plays their cards right and can survive the waiting time the rewards could be enormous. Even at this point in time I feel that they have substantial value in the patents that they own. Do yourself a favor and signup for PACER. I'm accumulating every chance I get! Good luck
Yeah of little faith.. This is only 1 out of 21 claims! Better to know now than later. This is HIGH, HIGH risk! Hang in there and it will payoff -- BIG TIME!!!~
more disappointments from the widow maker..
Anthony Hayes, CEO of Spherix stated, “We are disappointed by the judge’s decision in this case. At this stage, we are reviewing the Court’s decision, analyzing the appealable issues and considering all our options. -
This stock seems like a scam they bought a bunch of worthless patents and the business has gone from tagatose curing diabetes to lawsuits that have little merit with unenforceable obsolete patents this is weird eom
Sentiment: Strong Sell
So, did anything happen today regarding the redemption?
price didnt do much, besides the usual. Do you have any news? However, i guess they found 1 mil cash somewhere to pay for the shares or found a deal somehow. its pretty bad anyway. company value is 13 mill and half of that has to be paid by eoy.
The real shame here....IMO..... Is that Anthony Hayes is supposedly a Tried and True patent legal expert, which is why he was hired to lead Spherix.
........But could he not foresee the extended battle he was going to be in for here???
And could he not anticipate all of the legal options the defendants would have available to continue to delay any material action against them???
Because if he could???? Then a date such as the above would not be occurring right now. It would be 3 or 4 years down the road.
If he couldn't????? Then he was the wrong person to entrust in leading Spherix's patent business decisions.
This from the 10-Q on 5/8/15:
Pursuant to the terms of our Series I Preferred Stock, we are obligated to redeem 5,601 shares of our outstanding Series I preferred stock on June 30, 2015 at an aggregate redemption price of $935,367, and to redeem the remaining 29,940 shares of our outstanding Series I preferred stock on December 31, 2015 at an aggregate redemption price of $4,999,980. We currently do not have sufficient cash or working capital to make these payments. The Company’s failure to generate or raise sufficient cash and working capital to meet these obligations may result in our default under these obligations, which would have a material and adverse impact on our results of operations and may require the Company to suspend or discontinue its business activities.
What is going on behind scenes with the Series I Pfd referenced above? we should know by Wednesday at the latest
You have to think why would they be acquiring new patents if they possibly soon may be delisted? Just does not make any sense. I'll look at NGB.
No never got triggered it was a spike down in the last minute of trading.. I may actually lower my bid Monday.. I'm just looking for a dead cat bounce.. I think most gave up on AH achieving anything meaningful.. I pretty much wrote this off as a loss.. I'm becoming less focused on spec plays.. my existing spex play is NBG..