One would think Indaba would be all over this management with 12M shares and being down over 50%, especially now that they are on the BOD. Interesting that 4 of the top holders added over 1 million shares in the 4Q at a much higher PPS. Some must think their is potential. UPIP has the IP assets but does not have the expertise and have done a very poor job of monetizing them. I like the idea of a merger with another company that can utilize the IP and NOLS. Their independent patent troll idea so far has been a bust. Even if they win in court the big boys can keep them tied up in appeals and they have been "out-lawyered" so far on several occasions.
The current management squandered away millions in cash on bonuses and evaluating alternatives with absolutely no results or payback. Just like all their predecessors. Folks keep trying to read between the lines on vague comments on the conference calls. That's the problem... they need to be specific, make commitments, execute and deliver results or fire them all and merge with a company that knows what they are doing. When Vachon first started, I thought he was an excellent choice but when he fleeced the $1 million in cash he proved he is just like all the others. So far nothing for the shareholders has happened. They should have given shares if anything to keep them focused on the shareholders. Time for something radical!
No good news out of this company for almost a year is a major factor the PPS is under $1. With any positive news, they should increase to over $1 within the 180 days and avoid the actual delisting. Vachon needs to get busy earning the million dollar bonus he paid himself for just doing his job. They are pathetic at keeping shareholders apprised of what's happening! The major shareholders are down big and can't be happy.
"Based on the closing bid price of the Company's common stock for the 30 consecutive business days from January 20, 2015 to March 3, 2015, the Company no longer meets the minimum bid price requirement.
The Notice has no immediate effect on the listing of the Company's common stock on Nasdaq. To regain compliance, the closing bid of the Company's shares of common stock must meet or exceed $1.00 per share for a minimum of 10 consecutive business days during the 180 calendar day grace period provided under the Listing Rules."