It seems the BIG news they talked about is that Joe could not really talk about. What they were talking about, that they could not talk about, is that there appear to be people infringing on REFR's patents. And the purpose of raising all this money, recently, is for a war chest to litigate against people infringing on REFR's intellectual property.
Well that ship should come in SOON. Say in about two years....if REFR, in fact, can prevail either by means of settlement or lawsuit. Big "IF"
Interesting gambit. I wonder which patents? What Company? Will it work?
In the last month I have changed my opinion of Joe. A little.
Joe is NOT going to do anything on "monetizing the intellectual property".
There are FOUR reasons that I hold that Joe is going to do nothing.
First, Joe did not raise enough money to carry on a big legal fight. At the end of last QTR he had $9.4 MM on hand. Doing nothing at all he burns through $850K+ on a quarterly basis, even if he isn't doing anything else interesting. (When Joe does do something, that burns MORE cash). That only leaves him $2.6 MM for a legal fight over the next two years. It could cost Joe more than that just through discovery (that's less than 100 hours a month for a NYC law firm).
Second, Joe does not want to go through discovery on what HE has been doing (or NOT doing). One defense would be to prove that REFR does not have a viable product or business and therefore there is "NO FINANCIAL HARM DONE".
Third; At best, he might have patents from SPD Systems for the electronic controls that Gentex, Sage, Mercedes or someone else uses is "close to RFI's". In a corporate legal battle, its not about who is right. It is about who can prevail; in a last man standing-war of wills-who has the deeper pockets-who is the most risk adverse. It is a breath holding contest.
Fourth, (AND MOST IMPORTANTLY) Joe NEVER does what he "says". And certainly never does what he "implies" he is going to do. Never.
Not only will this gambit not work, not pay-off....Joe won't even start it!
Every time these "strong buy" #$%$ and pathetic low paid stock promoters threatened negative posters with court action, we laughed; that was when the price of this fraud was 20+. They acted indignant and put on their hissy fits about "the shorts being panicked." It was great fun to read; it was the easiest short on Wall Street.
No matter how often we point out that the LAST thing these REFR slime-ball insiders want is for this company to be inside a courtroom, either as defendants or as plaintiffs, the shills still make the bluff.
Embrace this thought; REFR does not want anyone looking under the sheets, even you kyforshorts (as much as you would want to).
They are making a great living, despite the derision from those of us who see through the fraud. What would they gain in a courtroom. They can only put themselves in a precarious position.
Similarly, now the nonsense about intellectual property lawsuits; there will be no REFR initiated law suits. Their "intellectual property" is a joke. The market has spoken loudly on this matter and every other contention of the shills but there is still a stream of idiots who don't hear it and go long.
Remember that this was the man and the company that supposedly had the goods on an extortion scheme by Manuel Asensio to buy out a short position in REFR at the ridiculously low price of $25 a share. (Imagine: Harary portraying himself as the victim while simultaneously claiming his most vocal critic wants to hand him and his company something like $20 million!)
So yeah, even phantom legal offensives are nothing new around here.
Gee, Xavier, I thought you would know who is infringing on the IP. (LOL) I have no clue who or how. This story will keep me around for at least the next year.
Joe has always seemed kinda "shy" for a lawyer. (okay Groucho, here is the set up) "Well, that's because (drum roll, please) he's a SHYsterr lawyer!"