Allign it's simple quest get the lions share of any settlement for taking all the risks and costs when we got them to take the patent to court? Myclub get 20% of all settlements and world link 5% but as all worldlink shareholders got Myclub shares we get a share of both
For every 92 worldlink shares you got 1 Myclub share! Myclub is listing on main market shortly in a reverse takeover through Pappilion a shell company terms yet to be disclosed?
Yes worldlink should be relisted or they may be a buy back by Myclub but it is looking a lot better than four years ago
If we get a deal that states the patent is valid we will be able to go after all the betting companies financial companies the auction sites anything that only updates partial data over mobile and tablet we can do that up To 2020 so there is a lot riding on this mediation day
Hope everyone received the mail from Neil Riches earlier this week re court hearing in Delaware scheduled for Jan 2017. The court has ordered there to be a mediation meeting between the parties (Quest for WGP, Bloomberg and Charles Schwab) on November 29th with statements to be submitted to the meeting drafted by 17th November. The mediation group has the authority to agree/propose a settlement in advance of the court hearing scheduled for Jan 17. Neil Riches commented that this represented progress whilst inviting caution re the possible outcome. We could, therefore have a settlement offer before Xmas. Hopefully, Quest have done their homework and can push for a robust settlement. With only 40 million or so shares in issue, a decent settlement could prove very lucrative for us, especially when you consider how many companies are involved. I am unsure what the implications for WGP shareholders are right now, though. If a settlement figure is agreed, would the company be obliged to seek to have it's shares lifted from suspension so shares could be traded again? Would Neil Riches wish to issue WGP shareholders with a one-off dividend? Could NR transfer any settlement money into MyClubBetting instead? My hunch is that as the patent was issued under Worldlink, Aim rules would decree that any settlement be paid into WGP, but this may be wrong. I'll mail NR and ask him what the position would be and let people know. Regards,
Thanks for that. With many companies using our patented technology in the US, I agree a settlement could be mouth-watering particularly with the low number of shares in issue here. Not getting my hopes up as we have a long way to go, but us shareholders deserve a result here. Stay in touch, Wazza. All the best.
I spoke with Ian at myclub yesterday apparently myclubbetting will float on European Nasdaq market by the end of September but the patent will be stripped out into a separate business all MY club shareholders will get one new patent company share and retain 1 myclub share for each existing 1 held? Yes Neil had deposition hearings with each if the defendants lawyers a gruelling 14 hours of meetings being grilled apparently went well?
It does sound like we have a good case, in fact we have been granted an upgrade to the original patent that makes it wider cover than just old mobile network! Did not quite understand it was a very bad line.
But we may be getting close to being able to trade the Myclub betting shares but no idea when the WGP shares will be lifted from suspension nor what value they may relist at that will all depend on how big the damages are? But if and when damages are decided, that will set a benchmark for Quest to go after any other user of the patent and claim further damages, they will have three years up to end of patent lifetime? So the numbers could be eye watering?
No one yet has any idea what those numbers might be.
So we will certainly know something re myclub shortly and WGP is unlikely to go to court so a settlement is likely if judge guides defendants to do so before the court case? So maybe a very nice Xmas present on it's way to all WGP shareholders may be the longest suspension of all time, with a promising resolution now won't that be a laugh to all those that stated this was all a big con trick?
I spoke to Neil Riches over the phone a couple of weeks ago. I had received an update on My Club Betting and mailed the company to ask for an update on WGP. Neil phoned me himself and informed me that he was visiting the US this month for the final time to present evidence, out of court, re the patent case. The two companies involved in the alleged breach of patent have tried to block the case going to court, but on both occasions, the judge has ruled against them. The case, if it gets that far, is due to be heard in Feb 2017, but the parties may choose to settle out of court. There are many companies using the patented technology, so a ruling in favour of WGP would be very lucrative. If I heear any more from the horses mouth, I'll post here and I'd appreciate it if others did the same.
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