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Skullcandy, Inc. (SKUL) Message Board

cash2go 83 posts  |  Last Activity: Jan 30, 2015 4:20 PM Member since: Feb 8, 2006
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  • Reply to

    Why did Siga lawyer up and go "bad faith" in 2006

    by cash2go Jan 14, 2015 1:59 AM
    cash2go cash2go Jan 14, 2015 8:34 AM Flag

    Appeal?

    page 37

    Delaware Supreme Court said:

    the parties have a Type II preliminary agreement to negotiate in
    good faith, and the trial judge makes a factual finding, supported by the record, that
    the parties would have reached an agreement but for the defendant’s bad faith
    negotiations, the plaintiff is entitled to recover contract expectation damages

  • ST-246 looked so promising is 2006 that Siga told Pharmathene LATS were too generous but would settle for:

    $100M upfront
    $235M milestone payments
    royalty depending on sales of 18%, 22%, 25%, and 28%

    Supreme Court of Delaware said:
    The promise to negotiate in
    good faith for a definitive license agreement in accordance with the LATS’s terms
    is expressly included in both the Bridge Loan and Merger Agreements. Therefore,
    a claim based on promissory estoppel cannot lie and a Vice Chancellor must look
    to the contract as the source of a remedy on the breach of an obligation to negotiate
    in good faith.

    * Siga's next quarterly will show the cash continues to build on their books. Chapter 11 BK proceedings becoming a joke.

  • Reply to

    Settlement judgment is overdue

    by fnmaman Nov 21, 2014 3:15 PM
    cash2go cash2go Nov 23, 2014 10:17 PM Flag

    Settling this out of court still makes the most sense. Siga would regain $50m plus in write-off of deferred tax assets at a minimum.

    GLTA shareholders

  • Reply to

    Fortune Cookie Say:

    by tinghumot Dec 15, 2014 2:59 PM
    cash2go cash2go Dec 15, 2014 6:13 PM Flag

    "NON-BINDING", goes beyond beating a dead horse. Parsons and the Supreme Court have made it very clear the issue has been BAD-FAITH. "NON-BINDING", no pride issue for Fortune Cookie

    Everyone including the BK Court is fully aware of the lawyered up McAdndrews & Forbes intent to drag this one out threat if you don't give me more than I deserve.

  • Reply to

    Markets, Lies and Garbage

    by cash2go Nov 25, 2014 12:34 PM
    cash2go cash2go Dec 2, 2014 12:39 AM Flag

    Why did Siga lawyer up and go "bad faith"

    ST-246 looked so promising is 2006 that Siga told Pharmathene LATS were too generous but would settle for:

    $100M upfront
    $235M milestone payments
    royalty depending on sales of 18%, 22%, 25%, and 28%

    Supreme Court of Delaware said:
    The promise to negotiate in
    good faith for a definitive license agreement in accordance with the LATS’s terms
    is expressly included in both the Bridge Loan and Merger Agreements. Therefore,
    a claim based on promissory estoppel cannot lie and a Vice Chancellor must look
    to the contract as the source of a remedy on the breach of an obligation to negotiate
    in good faith.

  • Does Chapter 11 Really Work?
    Reports and studies indicate that about 10 to 15% of Chapter 11 cases result in successful reorganizations. Most cases are dismissed (often by agreement of the parties) or converted to Chapter 7 liquidations. Dismissal or conversion of a Chapter 11 case requires bankruptcy court approval. The bankruptcy court can dismiss or convert a Chapter 11 case for cause, including failure by the debtor to show that it can successfully reorganize.

    * Nice to know that interest continues to add up. GLTA

  • Lots of info nobody is talking about. Shouldn't this one be selling at least a buck higher?

  • Reply to

    Markets, Lies and Garbage

    by cash2go Nov 25, 2014 12:34 PM
    cash2go cash2go Nov 27, 2014 11:44 PM Flag

    Siga payroll:
    CEO..............1.08M
    CFO..............636K
    VP.................772K
    Exec. VP.......675K
    LEGAL FEES - don't ask
    Expense accounts and blah blah blah..a whole lot more than we will ever know.

    Bad Faith negotiations have been a home run for so many for almost a decade. Markets, Lies and Garbage.

  • "SIGA has stated publicly that it does not currently have cash sufficient to satisfy the potential award"

    Why doesn't PIP say that it will look at Siga financials and work out a payment plan for the "bad faith boys". Hope to pick up even cheaper shares in this strange selloff. Usually a price to pay when debtor is begging for terms to pay it's debt. 11K terms should spell out final outcome in the next few months.

    Very short term shareholders now in selling mode. More long term shareholders (3 to 6 months) taking those shares. GLTA

  • cash2go cash2go Jan 19, 2015 1:35 PM Flag

    DSC guidance given to judge Parsons:
    Type Two agreement based on LATS that should be referred to when determining expectation damages.

  • Reply to

    Siga's 10Q page 7

    by cash2go Nov 5, 2014 3:28 PM
    cash2go cash2go Nov 5, 2014 3:34 PM Flag

    Maybe $2 bucks higher?

    p 15
    On October 17, the Company and PharmAthene separately submitted lump sum damages calculations to the Court of Chancery. PharmAthene’s submission noted a damages calculation, inclusive of pre-judgment interest, of approximately $233 million as of September 30, 2014. The Company’s submission noted a damages calculation, inclusive of pre-judgment interest, of approximately $173 million as of August 8, 2014 (the date of the Remand Opinion). The separate calculations submitted by PharmAthene and the Company are based on each parties’ interpretation of the adjusted valuation methodology the Court of Chancery directed the parties to utilize in the Remand Opinion. The ultimate loss to be incurred from this litigation is highly uncertain and may be significantly different from the range of calculations. In its submission, the Company stated that SIGA intends to argue on appeal that PharmAthene has no entitlement to any award of expectation damages, but, rather, should be limited to a recovery of its reliance interest of approximately $200,000 . Accordingly, the ultimate loss to be incurred from this litigation is highly uncertain and may be significantly different from the range of calculations set forth in the October 17 submissions to the Court of Chancery.

  • Reply to

    Markets, Lies and Garbage

    by cash2go Nov 25, 2014 12:34 PM
    cash2go cash2go Dec 2, 2014 1:22 AM Flag

    The New York BK court says there will be a large payment due Pharmathene.
    Lawyered up for "20 years" and "Bad Faith" got trumped by Appeal Bond and Interest. Thank you Judge Parsons, 8 years plus has put far to many millions of dollars into the hands of everyone but shareholders.

  • Reply to

    Markets, Lies and Garbage

    by cash2go Nov 25, 2014 12:34 PM
    cash2go cash2go Dec 2, 2014 1:08 AM Flag

    Siga lawyered up and said this could go on for 20 years in the presentation to the Delaware Supreme Court (you can actually watch the video of the SC presentation at courts.delaware.gov/supr...). Siga also puts more focus on LATS not being valid...

    Supreme Court says lump sum damages based on LATS would not be too speculative.
    Case goes back to Parsons and he says for contract expectation damages he finds most relevant Baliban's Basis 1 LATS scenario.

    Lawyered up Siga runs to BK court and we are back to Markets, Lies and Garbage

  • Reply to

    Markets, Lies and Garbage

    by cash2go Nov 25, 2014 12:34 PM
    cash2go cash2go Dec 2, 2014 12:46 AM Flag

    page 37

    Delaware Supreme Court said:

    the parties have a Type II preliminary agreement to negotiate in
    good faith, and the trial judge makes a factual finding, supported by the record, that
    the parties would have reached an agreement but for the defendant’s bad faith
    negotiations, the plaintiff is entitled to recover contract expectation damages

  • Reply to

    Settlement judgment is overdue

    by fnmaman Nov 21, 2014 3:15 PM
    cash2go cash2go Nov 26, 2014 1:05 AM Flag

    Unfamiliar with the mediation process? Google this:

    "Ten Settlement Conference/Mediation Traps for the Unwary"

    Parsons has given them the math the Supreme Court said made sense in this trial. The two are eventually going to settle in a way that enriches both sides to the max. If they announce the mediation was a failure and the stocks fall buy more shares. The math will not change and they return to mediation to reach that most profitable settlement for both parties. If such a drop occurs I suppose I will be adding at even better prices along with family and friends of Siga and Pharmathene.

    How Long? I'm starting to think at least one party doesn't want to settle in 2014 and pay taxes for this year. We also know Siga has long term tax assets that are worth over $50M if income is recognized over an extended period of time. A deal will be reached where $50M (plus) of tax assets are used.

    We may even have a hard winter. I'm guessing spring is going to be one to remember.

  • Reply to

    BK Court Meeting

    by polgringo Dec 9, 2014 2:21 PM
    cash2go cash2go Dec 15, 2014 2:02 AM Flag

    Unable to find anything. Still nothing from Judge Parson's findings. PIP continues to build their cash position to smooth coming problems of moving all that cash into its own accounts.

    That interest total continues to tick ever higher.

  • Reply to

    Another delay? News.

    by wane63601 Jan 2, 2015 12:37 PM
    cash2go cash2go Jan 2, 2015 1:19 PM Flag

    Good the interest totals will continue building. Also seeing Siga unable to benefit from the $100M or less it will retain is being locked up. Bad Faith down to the last minute, the only folks losing in these tactics are shareholders. How does Perelman sleep at night?
    PIP now sitting on $20M, good for another 5 years of legal battles. Any interest bearing loans these two companies have signed in the past 8 years carries close to 10%, is that something we can expect in the settlement?

  • Reply to

    THIEVES THIEVES THIEVES

    by diejour_44 Dec 19, 2014 4:11 PM
    cash2go cash2go Dec 20, 2014 10:30 AM Flag

    Family, friends and courthouse junkies showing up in volume, suddenly? The rumor I'm starting is a $3.50 payout spread over a couple of years. Siga gets 100% of any future contracts.

  • Reply to

    Too Speculative?

    by cash2go Dec 10, 2014 10:48 AM
    cash2go cash2go Dec 11, 2014 6:08 PM Flag

    Viable smallpox found in unguarded CDC storage, suspect worse in Russia's stockpile.

  • cash2go cash2go Jan 19, 2015 3:37 PM Flag

    How speculative?

    To heighten the nation’s biodefenses, the federal government has invested more than $60 billion since 2001, developing and distributing air sensors, educating doctors about the symptoms of bioterror pathogens and distributing medical supplies for biodefense to hospitals around the country. At the root of these efforts is a list of specific biological agents, known as “material threats,” that have been identified by the Department of Homeland Security as the most urgent pathogens to defend against. These include smallpox, anthrax, ebola, plague and a handful of lesser-known organisms.

    (samllpox was ranked the #2 threat to target with the bioterror funding that eventually lead to BARDA doing the actual contracting)
    I'm still shocked at the small figure Judge Parsons came up with as expectation damages. Guess I undervalued what big money and lawyering up can do.

SKUL
10.02-0.22(-2.15%)Jan 30 4:00 PMEST

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