BJ - can you show me any published evidence that has not been self contradicted showing they have shipped and been paid for anything, whatsoever? ... again, it's total hypocrisy - if you could catch PV in the kinds of obfuscation's and contradictions Sequoia has made on the public record about so-called "clients" and vaporware "products", missed self imposed deadlines without any explanation, etc., you would be screaming for an SEC investigation
"On your comment: "Sequoia's, ...not shipped a single chip, ever ... ", I believe you are mis-informed, although most of their shipments are more than a single chip."
So, when PRKR reached its all time high stock price of $56.44 in October 2000 (at the peak of the tech bubble), it had a market cap of $756 M. Today, their market cap is $297 M.
Still, I think we could all agree with innitmassiv that Jeff Parker is just extraordinarily good at running a no-product-just-promises company. He's been doing it longer than anyone except REFR (founded in 1965), but their market cap is down to $91 M as the founders get ready to retire (without ever having had a profitable quarter)