I formerly referred to longprkr as "little p" which stood for little portfolio, but now due to his utter disaster in his PRKR c..pshoot he is more properly known as "teeny weeny p". TWP is down over 90% in his original PRKR position and over 80% in his addition to the position in December 2014.
He is a regular Warren Bluffit as is his "New York buddy' who also got buried in this pos.
jP is worried that someone will make an unfriendly takeover offer of 2 cents a share and he wants to be able to negotiate the price to 3 cents. meanwhile back at the ranch cash is approaching $1/2 million unless they have stopped paying the employees and there have been no shipments from RF Microwave since they sold 6 PV 5870 citcuits on 10/28.
"after their first quarter of meaningful profits since 2010"--dude you seem to have no idea how to read an income statement!! I will help you(you need it)--they lost money in Q3,around $15 million if you back out depreciation. Obviously you believe in the saying "ignorance is bliss" because you are certainly ignorant!!!
As the company was going to make a major announcement re the SEC action, insiders would have been prohibited from buying any stock.
There are going to be major legal costs associated with defending the company in this case--where is the money to pay for these costs going to come from?
But he was the JAMN CEO so it does have to do with the company particularly if the company made false and misleading statements.
As I remember you were posting a while back that the company would be sold for $11-$12 per share--what a loser!!
Flav can't read financial statements if he could he would be short the stock--combined $446 million in debt and accounts payable
Based on the cash burn estimates from management and info from the financial statements the following are my estimates as to PRKR's financial condition as of 11/1/15
1. Total liabilities exceed total tangible assets by @ $1/2 million
2. Current liabilities exceed current assets by over $1 million
3. Cash is less than $1 million unless they played some games like increasing accounts payable
4. Accounts payable exceed cash and accounts receivable by @ $1 million
PRKR needs a cash infusion immediately and probably needs at least $5 million--if they don't get the needed cash they wont make it to year-end. I repeat a statement in the PRKR second quarter 10-Q
" These capital resources will not be sufficient to support our liquidity requirements through 2015" --they were not kidding!!!
MQ--they have had sales!!!!--somebody, probably a family member bought SIX (6) PV 5870's which I estimate generated about $25 in revenue for PRKR. Watch JP tout this event on the coming conference call by saying initial sales of IOT have occurred but not give the amount--then say these sales are the start of a huge new business!! LOL
The Jacksonville Jester doesn't miss a trick and the pumpers suck it up!!
They have also apparently given up on filing with the Supreme Court on case 1. Looks like the real parties of interest Farmwald et.al. basically destroyed PRKR defenses in the IPRs.
agreed--the bozo did not even know what "short covering" meant==ah but then he is a hotshot lawyer and can't be expected to know even rudimentary stock market terms. LOL
1.The stock will be delisted next week because the share price did not regain the $1.00 price necessary for continued listing (what a surprise!!) There will be no extension granted by NASDAQ because the market cap of the shares is also below the minimum value for continued listing.
2. From 4/21/15 release 'The Company intends to actively monitor the bid price of its common stock between now and October 19th 2015 and will consider all available options to regain compliance with the NASDAQ minimum bid price requirement"--Obviously it didn't have any available options!!!
OB--when you cover a short you are buying the stock--so why don't you tell us who is selling and why since you claim to understand that dynamic!!
LP-whoever wrote what you posted is a total idiot!!
"second case is totally DISCONNECTED from the first case"--I suggest you and the nitwit who wrote what you posted read Document 217 (available on PRKR website) Motion to Sever" and you will see how connected case 1 and 2 actually are.