Google STEALING from ON2's shareholders and Ex-CTO
Google at the Mercy of Merger Arbitrageurs in On2 Technologies Acquisition 3 comments by: Thomas Kirchner December 09, 2009
That’s not $0.60 in cash but $0.60 worth of stock independent of Google’s stock price. The problem is that $0.60 worth of Google stock are a lot fewer shares today than back in August when the merger was announced. Google has since risen from the $450s to the $580s, or 29%. The merger consideration has remained a constant $0.60. Had management negotiated a fixed exchange rate of, say 0.0013 shares of GOOG for each ONT, then shareholders would receive $0.77 worth of Google stock for their shares now.
The flipside of a constant merger consideration is that it has become much less dilutive for Google. Instead of issuing roughly 235,000 shares based on Google’s August share price, Google will now have to issue only 182,000 shares (assuming the VWAP for GOOG will be around $580).
y moving Google's PPS UP, around $600 now, Ameres will be asble to COVER his loss in INVESTMENT in ON2. Just $1,350 MORE left to get at $1,950: ($1,950 - $600 = 1,350). It is "happening", I guess, we just NEED time. That is it. One year, two years, three year, .... It seems it wouldn't take "long", it is just a "Short" time.
Why DID ON2 ASK Ameres to help them to file another Patent even when he had LEFT already? Did they think Google will do the same to ON2 that they did with Orkut as they call it today: Steal the SW/codes with one or a few engineers? Was it the reasom they called Ameres to file another Patent in April 2008. Ameres had left the company in June 2007:
Ameres was ON2's CTO and left the Company in June 2007. This Patent was FILED by ON2 on April 14, 2008 with having Ameres as ONE of inventors:
United States Patent 7,606,310 Ameres , et al. October 20, 2009
Inventors: Ameres; Eric L (Cohoes, NY), <========
Bankoski; James (Wynantskill, NY), Grange; Adrian W (Cambridgeshire, GB), Murphy; Tim (New York, NY), Wilkins;
Paul G (Cambridge, GB), Xu; Yaowu (Clifton Park, NY) Assignee: On2 Technologies, Inc. (Clifton Park, NY)
Appl. No.: 12/102,694 Filed: April 14, 2008 <============