Is your thinking based on any DD? As part of the publicly announced plan, they have only repurchased 145,335 shares as of 6/30/15, of which, only 86,535 shares were from this year. They have $4.6 million remaining as of 6/30/2015 from their $5 million buyback plan. All this info can be found in the latest 10-K filing.
I think the company should focus on 1st Detect and Astral Images, but any buzz related to Salmonella might be an opportunity to get rid of Astrogenetix. How much it is worth, I don't know, but the market is pricing it as a negative, so selling it at any price is a positive for the stock. There is always a buyer, given the right price.
While that case just involved a few deaths, according to the CDC, 'every year, Salmonella cause 19,000 hospitalizations and 380 deaths.' That's every year. A million other develop diarrhea, fever, and abdominal cramps 12 to 72 hours after infection, that does not result in hospitalizations or deaths.
Maybe Pickens can find a buyer for Astrogenetix which is working on a vaccine for Salmonella.
"Salmonella is America's most common cause of food-borne illness and sickens up to 1.4 million people every year."
PR from last year indicates that Battelle and 1st Detect are collaborating on the Multi-Sample Identifier Detector (MSID variant) of the Next Generation Chemical Detector (NGCD) program. Are you referring to the recent Chemring award for the Joint Biological Tactical Detection System (JBTDS)? That is a different program right? I do not see any update on the MSID variant from the NGCD program.
Thanks in advance for any clarification.
Will we get more details tomorrow?...
From the earnings call:
"In Q1, we successfully completed the trial with the mobile operator who is bringing location-based services to the enterprise customers. We are now preparing for an in-market trial with that operator and a very large retailer, which we hope to turn them to a wide scale commercial deployment later this year."
From 50(b) JMOL motion:
"Netlist knows that this Court is well aware of its responsibility. Throughout these proceedings, the Court acknowledged its right and duty to correct the jury on questions of law, at one point telling counsel (in the context of discussing the possibility that the jury might not abide by the Court’s interpretation of the Supply Agreement), "Well – I mean, that's why we have judgment, you know, notwithstanding any jury's verdict." Trial Tr. 394:4-7.
After the verdict, the Court acknowledged the problem created by the jury's verdict, stating "I have to deal with the fact that there’s an admission that you [Diablo] used the chips, you used them. There's no dispute. … So I have to deal with that in the context of this verdict." Dkt. 468, April 24, 2015 Tr. at 64, 65."
Check it out if you are interested:
5/28/15 12pm EST
Mario Martinez of Netlist, a SNIA SSSI NVDIMM SIG member, will discuss how persistent memory solutions deliver the endurance and performance of DRAM coupled with the non-volatility of Flash. This webinar will also update you on the latest solutions for enterprise server and storage designs, and provide insights into future persistent memory advances. A specific focus will be NVDIMM solutions, with examples from the member companies of the SNIA NVDIMM Special Interest Group.
Netlist's request for JMOL on breach of contract claims and a new trial for the trade secret claims was filed yesterday. The court was also asked to find in favor of Netlist in its Business & Professions Code section 17200 claim. Interested parties should definitely read it. Doc. 477
We have already seen the argument for the JMOL for the breach of contract claims, but the argument for a new trial for the trade secret claims is also very convincing.
Netlist also asked for the permanent injunction. If the court does not grant a permanent injunction, Netlist request a new trial on damages for breach of contract.
Again, if you're interested, go read Doc. 477 yourself. I won't be replying to or monitoring this post, so don't bother baiting me.
I was expecting revenue to be much higher given the orders that were announced. The low revenue number suggest that none of these orders were actually shipped and booked as revenue yet. Hopefully that means the orders were too big to fill right away.
I was also surprised by the low volume and average price of shares that were repurchased. 53,825 shares X $2.48. Looks like they haven't bought any after Jan 15th based on the $2.48 average price. That suggests real market support for the $3 range.
Netlist can only file the 50(b) motion after the official "Judgement" is entered, which is today (doc. 459). I think Netlist has 28 days from today to file it, but I would guess it would file it asap, maybe even as early as Monday. Diablo will obviously have a chance to file their own brief to oppose it, so briefing won't be done until mid-May. The court can then decide on when to hear and rule on it.
whales_gez, the brief you are referring to is probably the one for the "UCL claim" - California Business & Professions Code section 17200. Since that also depends on the breach of contract claim, it therefore also depends on the Rule 50(b) ruling.
Next step is for Netlist to officially file the Rule 50(b) motion. If the judge rule in favor of Netlist, as I still expect her to, she can issue a permanent injunction at that point. Of course it will still go to the appeals court regardless of how the district judge rules. However, a favorable ruling for Netlist increase the chance of IP licensing and/or put pressure on ULLtraDIMM sales and Diablo's reputation.
It's just a timing issue. Basically the court is saying it has to rule in Diablo's favor TODAY because the "present record" does not include a post-trial Rule 50(b) motion. It cannot rule in favor of Netlist on something that is currently not even filed yet. The judge can still rule that Diablo breached the contract when she rules on the post-trial Rule 50(b) motion.
Read these quotes from today's court rulings carefully!!!
"The Court's determination that Netlist can no longer show a likelihood of success on the present record does not prejudge the possibility of Netlist prevailing on any post-trial motion it might file. The Court's order herein simply acknowledges the state of the case at this time."
"The Court has no Rule 50(b) motion before it at this time."
"The Court follows the 'desirable' practice of refraining from ruling on a 50(a) motion until the jury has returned a verdict, in favor of a renewed 50(b) motion post-verdict."
"The Fi service will also work over Wi-Fi links if cellular coverage isn't available."
"...Google is promising subscribers that their Nexus 6 model will automatically connect with the fastest network available."
We already know Sprint use SMSI's Netwise for that. If Google is using both Sprint and T-Mobile, that should also mean T-Mobile would be using Netwise as well right?
During the trial, "Diablo submitted no evidence, nor did it call its industry expert, to rebut Netlist's proof that the products are targeted for the same customer applications, and thereby are in direct competition."
"Diablo failed to call its industry expert, and Netlist’s lost sales and 'first to market' testimony was unrebutted."
Everyone should read doc. 442 from Friday 4/3/15.
The judge sounds willing to undo the verdict by reserving to rule on the 50(a) JMOL after the verdict. "...if we have to undo it later, then we undo it later."
The judge: "You know, the other approach that judges frequently take is we just let it go to the – to the jury and if we have to undo it later, then we undo it later. But that way, we have the benefit of a jury verdict. And we don’t have the jury sitting around waiting. So it’s – it is – it is always an issue for judges when – you know, and I have seen all the evidence – when we think that things are pretty clear and we just sit up here and hope and pray that the jury thinks it as clear so that we don’t have to go back and undo something that jury’s done. (Id. at 38:11-21.)"
"The Court reserved ruling on Netlist’s Rule 50(a) motion for judgment as a matter of law, and it remains pending. Netlist also intends to timely file a Rule 50(b) motion on similar grounds. Meanwhile, it is “clearly within the [C]ourt’s power” to grant judgment as a matter of law upon its own initiative, sua sponte."