The oldest trick in the book: Operation Distraction Lose Amazon. Experience a multi-year setback of Apple case. Hammered with ten separate losses in US District Courts. Three cases deemed exceptional and handed a bill to pay for your opponents costs. Haven't signed a meaningful license in 6 months. 70% YoY decline in revenue and 90% decline in EBITDA. Reduced to the lowest litigation pipeline ever.
All they are left with is CAFC Appeals, PTAB squabbles and begging European and Canadian courts to help out. And a $4 million dollar bill if they eject Vladescu, the chief architect of this disaster.
And then Brett comes to you saying that ITS isn't doing so well because of price inflation, wage inflation and semiconductor shortages. Margins are not looking good. But it isn't just us as this is an industry issue with Rekor, Itiris and Kapsch all saying the same thing.
So what do you do if you are the Chair of the Board and about to lose your job? You must do something. And there is no upside at Lendified as that company was driven into bankruptcy under your leadership.
INITIATE OPERATION DISTRACTION
Fire the CEO and CFO. Easy to blame them for WiLan.
Announce the strategic review of your biggest problem. You can spin it positively that are now focusing on our best opportunity AND you can blame the poor performance on the sale process underway. Not the patent portfolio and your decision on the bad lawyers to litigate the patents. But, the distraction. BRILLIANT.
Fire some of your Board cronies (the ones that Skippen hired that still have allegiance to him). Shareholders will want to see some blood or will lose ALL confidence. If there are no consequences for horrendous performance, people will flee en masse.
The gift for all your work?
MORE CHEAP OPTIONS. And, a new set of hand picked friends that will secure your position as chair for the foreseeable future. And no more of Skippen's friends questioning your actions.
What does this mean for shareholders?
Horrible quarterly results as the regime change takes place. Hold back news. Stock price lower. John needs to incentivize new people to join his Board so he issues large and cheap number of options.
Isn't this obvious to anyone else?