Hey stannguru! Maybe Warren Boo-Fay and his Berkshire Hathaway crowd will recognize this POS as a great opportunity.
Have you taken a look at CALPERS portfolio? They own everything. And I mean "Everything"! CALPERS' highest ever value position in this POS did not even amount to a rounding error in terms of the total portfolio and the loss they have taken probably does not even register in percentage terms of the total results. You are an idiot.,
No, the final words will come from the bankruptcy judge will will bang down his gavel with the words "Sold, to the highest and onliest bidder -- for a song!"
It would sort of be like suing your mom and dad for not paying you this week's allowance, eh?
Sell all 14 patents???? Are you joking?
They can't GIVE them away!!!!
Admit it! You are a DUNCE!
Unfortunately stann, we will never learn your identity unless you tell us who you are (we all want to laugh at you), because the lawsuit will never be filed because you will never find a lawyer willing to represent anyone in such an idiotic legal ploy.
You do not understand, fool! The law shields private wealth. You can sue them, collectively and individually, but you are not going to get into their private assets. Won't happen.
It's possible to go after someone in a criminal case, and get them tossed into a jail cell. It is quite a horse of a different color to get money out of them, however. There is always a shot at the proceeds from the directors & officers liability insurance coverage, but these moneys would go first to the creditors. In all probability, there is not enough insurance coverage to pay all of the creditors -- the shareholders will get zilch.
Your wet dreams must be something else, stannguru...
What New Age? Bell Telephone (Ma Bell) was collecting revenue on a pay-per-call basis decades ago!
If, indeed, management including Thiel and Cragun are involved in buying what's left of this steaming pile of stuff, then you can bet that they will soon be looking to bring their "new" company public once again, at which time you can rise indignantly and point out to potential shareholders how crooked the management team is. You will do that, of course, unless you yourself decide to invest in the team once again.
That, and all kinds of other missed opportunities, got you and Loco Corpse down to a half-cent per share!
Hell of a business model, that was -- suing your competitors. Low marketing costs. Do you suppose they were capitalizing their front-end legal expenses?
They are all in it together. Harris stands to make millions. Billions!
What nonsense! I have some experience with the way government accounts for its business operations -- it is essentially a single-entry bookkeeping system. But I have never seen anything like the statements accepted by the bankruptcy court, as submitted by the Loco Corp. SOMEBODY, including the SEC, should be raising questions about this. Despite the company's cautions that the statements do not conform to GAAP accounting, the fact is that these are the only numbers that investors, stupid and otherwise, have to go on and, as has been pointed out, it appears quite unrealistic that each and every line item in "operating expenses" has been unchanged since the first monthly report (for July) has been published.
The July report was indecipherable because it was impossible to get a good handle on pre-petition liabilities versus the liabilities shown at 3/31 on the last 10-Q. But subsequent statements show a constant decline in pre-petition owners' equity that does not tie with any previous data. Plus the arithmetic does not work: the equation shows us pre-petition equity plus the OPERATING gain or loss. The legal fees seem to disappear into the ether!
Did anyone notice that pre=petition secured liabilities declined by $150,000 in September? And, if indeed we are so close to an asset sale, we would have been expecting the lawyers to be working harder, no? So why did legal fees drop to $57,000 in September from $79,000 the month before?
stannguru, I am surprised at you! Not one single word about the terrific "progress" made over the last month, as evidenced by the most recent 8K filing and financial exhibit that was attached. Did you not see it?