On the last C/C our CEO said he "hoped" to announce a major OEM deal by the first of the year. There are 6 trading days to go and the market appears to be discounting his "hope". Wise men rarely commit themselves to a time limit without giving themselves "wiggle room". I, for one, a large long, will not be pleased if there is no announcement by next week. Don't want to hear about conjecture, selling ourselves short, he's negotiating, and all the other BS excuses. I want a deal NOW.
He clearly stated in the last CC that making the right deal is more important than meeting a deadline. Undoubtedly, one or more OEMs are is playing hardball and using the supposed deadline as a bargaining tool. Neither you nor I are party to those discussions. I doubt that you would be very happy if, in order to make a deal, he gave away half of the company.
The market is not discounting a deal or anything of the sort. The buyer(s) -- who could also be one or more of the OEMs -- has stopped buying. Volume is low and few are willing to sell at these prices. Suppose that a deal includes a provision for the OEM to be able to purchase a certain percentage of the company based on the price as of a given date. He would not want to be bidding against himself.
If a deal is not made by the first of the year and if buying does not resume, you will likely see some price erosion. I wouldn't read anything into that in terms of the market knowing what is going on. Nothing will have changed. This stock is risky now, has been risky for years, and will be no more risky 1-2-06. If the new year means there will be no deal, then there never would have been a deal in the first place. Lower prices, should they come, will be a buying opportunity for those inclined to accept the risk.
I am sure these negotiations are very complex. Lots of things are on the table. Will ParkerVision sell IBM-made chips, or provide dies for inclusion on someone elses's chip, or license the technology? What will be the price per chip vs. what percentage of the the company will a first mover be allowed to buy and at what price?
If he is negotiating with a couple of Korean firms, they may be conspiring and/or trying to slit each other's throat.
So calm down, have a Merry Christmas, Happy Channukah, Happy Kwanza, Happy Festivus and a Happy New Year. Or sell now.
I strongly disagree with your statement that PRKR does not hold greater risk next year. In fact, every day this stock is riskier to hold as more money is squandered and sales are still 3 CENTS per share. The longer this goes on, the more longs realize they were the sucker left holding the bad and the less cash on hand. Of the dumb longs, the smarter of the dumb will sell first, while the dumber of the dumb ride it into bankruptcy.
And if the company goes BK without a deal, it will be because the technology is not what we think it is, not because of management. It will be because the technology is bad and JP has been lying to us all these years about the technology and about OEM interest in it. We will lose money and Jeff Parker will go to jail.