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shylock
Posts: 6,104
Observation
Opinion:No Opinion
Price:0.00
RE: DDD Group Restructuring
Tue 18:40
Looks like a race against time. Can DDD win their damages lawsuit before they go bust - or will LG just delay proceedings until they do?

Or was it always planned this way so that ARISAWA and insiders would pick up the pieces, including the patents and any litigation winnings, after DDD went bust?
 
Zydor
Posts: 118
Observation
Opinion:No Opinion
Price:0.00
DDD Group Restructuring
Tue 17:27
DDD Group announces restructuring
Los Angeles, California: DDD Group plc, the advanced imaging company, announces that it has
undertaken a restructuring of the Group following delays in the shipment of the Group’s TriDef SmartCam
and TriDef VR software by two significant affiliate licensees. Forecasts prepared by the Group assumed
that shipments of both products would commence during the second quarter however delays in the
introduction of the licensee products with which the software will be shipped has a corresponding impact
on when end users will be able to complete their post evaluation purchases.
While both licensees have confirmed that their shipments will commence during the third quarter, the
delay in revenue prompted the board to act to restructure the Group pending the revenues from these
and other licensees reaching a suitable level with respect to the operating costs of the Group.
Consequently the Group has implemented a round of layoffs that impact the Group’s technical
development team in Perth, Australia and the marketing team in Los Angeles, California. The Group
continues to sell its TriDef SmartCam, TriDef VR and TriDef 3D software apps from the TriDef.com
website along with the UPix apps on the Google Play store and the Apple App store. In addition, the
Group’s affiliates continue to offer TriDef SmartCam through the pre-existing license agreements.
As a result of the restructuring, the Group will be closing the Perth, Australia office and is planning to
vacate the office in Los Angeles. In view of the closure of the physical offices, the Group has moved its
information technology infrastructure to the cloud to enable the ongoing operation of the various
subsidiaries. The Group has also withdrawn the legacy TriDef 3D Mobile apps from the Google Play store
due to a continued slowdown in demand for stereoscopic mobile applications that has been previously
reported.
The Group may require additional funding within the next 12 months if the delays in the affiliate revenue
persist or a change occurs in the market. There remains uncertainty that contract negotiations will be
finalised or performance will be as expected. If there are further material adverse variances against the
Group’s forecasts, the Group would need to implement additional mitigating actions to manage cash
resources.
rickojohn
Posts: 50
Off Topic
Opinion:No Opinion
Price:0.00
RE: Court Proceedings: DDD V LG
7 Aug '17
Thank heavens for that shylock, you've given me a glimmer of hope for a 'pay out' at long last. Please keep up the posting here - much appreciated! Thank-you
shylock
Posts: 6,104
Observation
Opinion:No Opinion
Price:0.00
RE: Court Proceedings: DDD V LG
4 Aug '17
Looks like a significant interim win for DDD which could accelerate a settlement.

Omitting pages of gobbledygook:

"GEORGE H. WU, UNITED STATES DISTRICT JUDGE

Dynamic Digital Depth Research PTY LTD v. LG Electronics Inc et al

STATUS CONFERENCE
July 31, 2017

The case is called. Counsel make their appearances. The Court and counsel confer. The Court's TENTATIVE Ruling is circulated and attached hereto. For reasons stated on the record, the Status Conference is continued to August 31, 2017 at 8:30a.m.

Final Ruling on Motion for Summary Judgment that the ’267 and ’812 Patents are invalid under 35 U.S.C. § 112

I. INTRODUCTION
In this action, Plaintiff Dynamic Digital Depth Research PTY LTD (“DDD”or “Plaintiff”) alleges that Defendants LG Electronics, Inc. and LG Electronics USA, Inc. (“LGE” or “Defendants”) infringe three patents relating to image conversion techniques.
LGE has moved for summary judgment that U.S. Patent Nos. 7,489,812 (“the ’812 Patent”) and 6,477,267 (“the ’267 Patent”) are invalid under 35 U.S.C. § 112 for lack of written description and enablement. Dkt. 164.
For the reasons stated in this Order, the Court would DENY LGE’s Motion as to both the ’812 Patent and the ’267 Patent.

…Drawing all inferences in DDD’s favor, LGE has not shown by clear and convincing evidence that the inventors lack possession of these concepts as a whole. Thus, LGE is not entitled to summary judgment on its written description defense concerning the ’267 Patent…

CONCLUSION
For the reasons set forth above, LGE’s motion for summary judgment regarding written description and enablement of the ’812 Patent and the ’267 Patent would be Denied."
shylock
Posts: 6,104
Observation
Opinion:No Opinion
Price:0.00
Cash burn
18 Jul '17
So yet another secured loan note (SLN) has been issued in the past week to 14.8% shareholder Arisawa Manufacturing Company, for an undisclosed amount.

This follows hot on the heels of the previous SLN to Arisawa on 23/3/2017, for $750k; and a placing for £215k at 2p per share on 20/2/2017; and a number of Arisawa SLNs in 2016.

The lack of detail in the latest announcement is disturbing. Failing a sizeable damages payout by LG by the end of the year, it looks like PIs will get nothing here.
shylock
Posts: 6,104
Observation
Opinion:No Opinion
Price:0.00
RE: Court Proceedings: DDD V LG
7 Jun '17
June 5: "MINUTES OF DEFENDANTS' MOTION FOR JUDGMENT ON THE PLEADINGS THAT THE '267 AND '812 PATENTS ARE INVALID FOR CLAIMING UNPATENTABLE SUBJECT MATTER UNDER 35 U.S.C. § 10141 ; DEFENDANTS' MOTION FOR SUMMARY JUDGMENT THAT THE '267 AND '812 PATENTS ARE INVALID UNDER 35 U.S.C. Section 112164 ; POST-MEDIATION STATUS CONFERENCE Hearing held before Judge George H. Wu. For reasons stated on the record, the above-entitled motions are TAKEN UNDER SUBMISSION. Court to issue ruling. Court and counsel confer re mediation. Settlement is not reached. A Status Conference is set for July 31, 2017 at 8:30 a.m."

The can is kicked further down the road.
shylock
Posts: 6,104
Observation
Opinion:No Opinion
Price:0.00
RE: Annual Report and AGM
2 Jun '17
rickojohn, it's impossible to be bullish based on these numbers. For all the 'jam tomorrow' promises, DDD appear to me to be effectively trading whilst insolvent, notwithstanding the February 2017 placing at 2p. But the directors bought decent chunks then at 2p so they must know something. There's also the Japanese customer, Arisawa, who keep offering loans to the company so they must know something too - or perhaps they are manoeuvring to put in a takeover bid or to help fund a management buy-out. All pure speculation but I think there must be some overarching plan that PIs know nothing about.

As for the litigation, mediation has been more or less forced on DDD as they don't have the funds to keep litigating forever. With that scheduled for 5 June, we may get news next week. But any settlement less than $4m would be unexciting as DDD have built up debts to around that level.

They did say in February that they had signed a number of new contracts which hadn't been announced so presumably there's some positive news to come on that front -- especially with VR being the new hot tech. I noticed that BT Sports are broadcasting some events in VR - not that I'll be watching as it makes me seasick.

Overall, I suspect there's good news to come but couldn't be certain that PIs will benefit from it.
rickojohn
Posts: 50
Off Topic
Opinion:No Opinion
Price:0.00
RE: Annual Report and AGM
2 Jun '17
As always shylock, thank-you for the update. Might this year be the turning point? "PC licensing affiliates "will significantly increase the distribution…during 2017 to tens of millions of units," An early 'out of court' settlement hopefully!
shylock
Posts: 6,104
Observation
Opinion:No Opinion
Price:0.00
Annual Report and AGM
29 May '17
AGM will be held in London on 22 June. Special Resolutions to give authority to:

- Allot new shares up to 33% approx of current issued share capital
- Disapply pre-emption rights on new shares
- Re-price the 2014 and 2015 convertible unsecured loan notes to be convertible at 2.5p

Annual Report for year ending 31 December 2016:

Revenues $379k (2015: $706k) due to loss of Samsung TV 3D revenues
Gross profit $373k ($697k)
Admin expenses $4.758m ($3.089m)
Loss $4.454m ($3.030m)
Non-current assets $$1.572m ($3.945m)
Current assets$163k ($486k)
Current liabilities $3.538m ($2.016m)
Auditor emphasises going concern uncertainty (2015: ditto), further to which…

"The Directors have prepared cash flow forecasts up to 31 December 2018 which indicate the Group will require access to additional funds by mid-July 2017. To this end, the Group will participate in Court-ordered mediation (scheduled for the end of May) with the objective of securing a settlement to the ongoing litigation claim (against LG). Additionally, the Group is pursuing several commercial options to secure funds including negotiations for new development agreements and/or arranging financing through the parent company from existing shareholders. In addition, the Group is at early stages of negotiations to secure funding of the GenMe subsidiary from existing or new shareholders. Furthermore, the Group may require additional funding within the next 12 months if the projections are inaccurate or a change occurs in the market… It is also anticipated that some or all of the secured and convertible debt will require a further extension to their expiration terms, which are currently due in early 2018… The Directors have concluded that the combination of these circumstances represent a material uncertainty that may cast significant doubt on the Group's ability to continue as a going concern. Nevertheless, after making enquiries, the Directors have a reasonable expectation that the Group will have access to adequate resources to continue in operational existence for the foreseeable future."

Current trading and outlook: cash from new TriDef SmartCam affiliate distribution partners has begun to come through in Q1 2017 and are expected to show significant growth this year as PC licensing affiliates "will significantly increase the distribution…during 2017 to tens of millions of units, validating the affiliate licensing model." DDD also expects its new TriDef VR technology to create similar demand from brand names as its 3D technology achieved.
shylock
Posts: 6,104
Observation
Opinion:No Opinion
Price:0.00
RE: Court Proceedings: DDD V LG
22 May '17
Patent eligibility hearing scheduled for June 5 -- to be followed immediately by a "Post-Mediation Status Conference", which could presumably result in a settlement…or a decision to go gung-ho for a trial.

https://www.pacermonitor.com/case/8780972/Dynamic_Digital_Depth_Research_PTY_LTD_v_LG_Electronics_Inc_et_al




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