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Pendrell Corporation Message Board

  • the10kdetective the10kdetective Jul 10, 2013 9:55 AM Flag

    PCO has a treasure trove of Patents

    Pendrell (“PCO”) is an undiscovered and undervalued intellectual property (“IP”) investment, advisory, and asset management company run by a world-class leadership team that includes billionaire telecom mogul Craig McCaw (Chairman) and his top executive, Ben Wolff (CEO).

    The skew to the upside in PCO’s share price is one of the best we have seen given management’s expertise and contacts in the IP arena, the underfollowed and undervalued nature of the stock, a rock solid balance sheet including over $200mm in cash and $2.4B in net operating losses (“NOLs”). All of these factors imply an enormous risk-adjusted return opportunity, with exceptional upside optionality combined with a significant margin of safety.

    Stock could be a home run.

    Sentiment: Strong Buy

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    • You can try and put lipstick on this pig but there is a reason they have $2.4BILLION of NOLs...They LOST $2.4Billion in their last business (satellite). Thus the reasoning that the team that lost the $2.4Billion can somehow make money now is a bit flawed?? This is a value trap. I have followed them for two years, am in Washington and IN MY OPINION you have a gang that can't shoot straight. Blew the Boeing litigation, buying stuff that others are selling (are the others stupid....NOTTTTT)...They did a few presentations in May and early June and gave brokers something to push out the door that was cheap and sounded good. Sounds like you may be their PR firm??

    • They also own a massive amount of NOKIA patents that could be worth hundreds of millions.

    • Thanks I have bought some. I did not know Mccaw had another company out there.

    • Pendrell Corporation (PCO): an undiscovered, Craig McCaw-backed companythat First Capital Alliance, L.L.C. (“First Capital” or “we”) conservatively expectsto double in value within 12 months. Over the long-term, First Capital expectsPCO to appreciate markedlyI. Executive Summary:Pendrell (“PCO”) is an undiscovered and undervalued intellectual property (“IP”)investment, advisory, and asset management company run by a world-classleadership team that includes billionaire telecom mogul Craig McCaw (Chairman)and his top executive, Ben Wolff (CEO).The skew to the upside in PCO’s share price is one of the best we have seen givenmanagement’s expertise and contacts in the IP arena, the underfollowed andundervalued nature of the stock, a rock solid balance sheet including over $200mmin cash and $2.4B in net operating losses (“NOLs”). All of these factors imply anenormous risk-adjusted return opportunity, with exceptional upside optionalitycombined with a significant margin of safety.Given the opportunity that we have identified, First Capital believes it is not onlyplausible, but highly likely, that Pendrell will trade at or above $5.50 per share – or ~2xthe current valuation – within 12 months. We believe our price target may prove tobe conservative, particularly over the longer term.

      • 1 Reply to the10kdetective
      • II. Quick business background:As we discuss in more detail below, over the last two years Pendrell hastransformed its business from a satellite communications provider to a companyfocused on acquiring and monetizing valuable intellectual property.Pendrell’s business strategy is to identify and commercialize unique, foundationalinnovations that have the potential to address technology challenges affectinglarge, global markets.Pendrell’s investments in IP thus far have focused on three different areas broadlyspeaking:.Digital Rights Management (“DRM”) patents in the technology andtelecom industries;.Foundational memory technologies for electronic devices; and.Commercial scale plant propagation patents with various end marketuses, including pulp & paper replacement

 
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