Prior blog Hilton wanted. Peasgood SpectrumSell All the boys who had the contact in rhe court room according to Sean Peasgood stated I was informed during the court things looked ... The article does not paint too good of a picture for Peasgood..Read link It was posted but I do not see it anymore: Interesting.. sell more in the days prior? Bubba staying away from blog and Blue55 is selling all Monday on a closed day. interesting.
H posted on 29 March 2013 Spectrum article -link but disappeared
https://www.spectrumcapitalinc.com/category/uncategorized/
ONE-T: Shocking Ruling Yesterday as LogMeIn Wins on Non-Infringement
Posted on March 27, 2013 by admin — No Comments ↓
Unfortunately for ONE-T investors (including myself) the jury ruled that although ONE’s patent was valid, LogMeIn was not infringing. To me this was a shocking ruling after following the Company for several years and understanding the patent and LogMeIn’s technology. Also the updates I was receiving via people in the court seemed to be mostly positive.
The question now is where do we go from here?
I believe there are grounds for ONE to appeal the ruling and hope they do move forward in this manner. Management will likely provide an update in the next week or so about how they plan to move forward. Investors should understand that an appeal will likely take at least 12-18 months. There is also the opportunity that the Citrix case is re-opened, however the timing on this is unknown and I believe Citrix would likely try to move for Summary Judgement for non-infringement based on the outcome of the LogMeIn trial. Ultimately the uncertainty created by the LogMeIn ruling will likely limit the stock from rebounding materially even if this news was announced.
Given all of these details I sold my position this morning at the open. Although ONE-T has enough cash to support the business for another 2 years (~$4M in cash and a burn rate of ~$300K/qrt) and may look attractive to a value investor, I believe the stock is likely dead money in the near-term. There is always a possibility that ONE continues to move forward with Wi-LAN, although given the result yesterday new litigation activity may be postponed.
I personally do not own ONE-T (sold it at the open this morning) but wish management all the best in their efforts to collect royalties for their intellectual property.
Sean