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All depends on how they’ve been briefed from the judge. Counsel on both sides will probably be privy to much more than we are and part of that could be ‘we don’t have a formal listing yet but there’s a high chance that…’

FWIW I agree December is unlikely.

Wishing. Hawi. You pair of legends. At the coal face doing the research!

Hello all,

In this down period I’ve been using some of the calcs provided by the excellent special situation investment article to better understand the risks and opportunities around the litigation (link here):

https://www.specialsituationinvestments.com/2022/09/nano-patent-litigation-multibagger-upside/

I think we are all aware of the risk of an outright loss in court, although it’s fair to say that this remains a rather remote possibility.

A more likely scenario, however, is the concept of low damages. You can imagine a scenario in which ‘little minnow Nanoco would be grateful just to get a 100mil or so’ in the eyes of the jury. I must admit that this has caused me a little bit of concern. All this waiting and shouldering all that risk for what would be quite a limited upside should low damages be awarded.

And so my attention turned to the moves in Germany (and now China) and how all that fits into the wider narrative. It seems quite clear to me that Nanoco (and, it’s important to reiterate, their legal backers too) will not stop pursuing Samsung until there is a settlement, and this is why Germany is the lynch pin in this whole narrative. A positive ruling there, an injunction, and we will be dictating terms of the settlement. And believe me, with injunctions on the line, especially factoring in Samsung’s clear ‘all in’ on Qdot display, Samsung will want to get settlement done. Injunctions put those negotiations firmly in Nano’s court.

So whilst it would be great to have a high dollar value damages ruling in Texas, I don’t think a low damages amount should necessarily be construed as a negative signal to investors. It’s quite clear the long term goal is a settlement and an ongoing licence arrangement. For me, so long as the case in Texas goes in our favour, anything else in terms of high damages/multipliers etc is just a bonus. The real value driver will be the chapters that follow, the mounting pressure and, crucially, injunctions.

Patience is all that’s required and I’m happy to hold as long as it takes for above narrative to unfold.

I’d be interested to hear other’s thoughts. Thanks all.

Good to see the glacier is back up and running with a fresh docket haha. Wonder why it took over 2 weeks to rule on though? All very odd.

I wouldn’t read too much into it (would love to be wrong!) but it could simply be one momentum trading algo selling to another. The volumes are healthy but not huge. From a technical standpoint 33.5p was oversold so this could be viewed as a correction to the upside.

Not this again…please

2 mil shares changed hands so far today. Let’s hope things could be heating up. I think we are primed for news on the litigation front. Fingers crossed.

To me the SP seems to have spiked when confidence/perceived momentum in the court case has been high. Given it was at 37p after PTAB and things elsewhere have since strengthened, current SP looks a bit oversold. That said, I get that the mysteries of court allocation dates has caused some frustration and hence we are where we are. I think the market attaches very little value to organic growth at the minute, understandable given the previous disappointments. But it will certainly be welcome in terms of giving the SP a bit more backbone. As with any loss making company, lean periods in terms of news almost always lead to a bleeding SP.
Let’s hope the next couple of weeks gives us a court date!

Katstrangler, it’s ironic you call long term investing, driven by narratives that are years in the making as ‘gambling’, yet go on to espouse the virtues of jumping on ‘bagging opps’ (by which you can only mean stocks for which volatility is currently huge, or mining/oil stocks waiting on drill results) as if that were not an even worse form of gambling!

You’re right, traders have exited for now, but I think you’re pitching your tent in the wrong field if you think that many of us PIs are suddenly going to get FOMO and start getting swept up by the LSE pump and dump hype squad.

My guess is their funds are taking a pounding given the general market conditions, by selling here they are crystallising some profits to boost quarterly figures. It happens often and buying and selling is more often than not about appeasing paymasters with eternal growth rather than it being a reflection of their actual thoughts on a stock.

Interesting perspective Intrusive. I definitely see the sale process in 2019 as you describe but the 2018 NDA seems to favour Samsung and is water tight. What’s your analysis of the 2018 NDA in terms of it favouring Nanoco? Thanks in advance

Thank you Morbox. Having read the docket it is clear that Samsung clearly saw where all this was headed by enshrining a clause within the NDA protected them from it being used in future patent litigation. Sounds like a pretty tried and tested stunt for them and if there is any nativity, it was in 2018 when that clause was allowed to pass in the NDA and was signed off by the Nanoco legals.

Even so, the final passage is very encouraging. Gilstrap will allow the jury to decide what Samsung meant by ‘pioneering’ ‘foundational’ and ‘leading edge’ technology when it first made overtures to buy Nanoco in 2019. That will be very persuasive to a jury.

It’s crazy to think only a couple of years ago Samsung could’ve bought Nano for 60 odd million. Their greed got the better of them. Let’s hope they have to pay a heavy price for such horrid behaviour.

Not showing here for some reason:

https://www.londonstockexchange.com/stock/NANO/nanoco-group-plc/analysis

New target of 70p for full option grant. The cynic in me says that’s too low given the unique journey of this company. It’s not going to be your typical growth trajectory one would’ve thought.

If you want a laugh head over to the ‘other’ board. There’s a poster called halfpenny who I can only describe as the lamest bulletin board influencer I’ve encountered (and we’ve had our fair share here) getting pelters haha

Can anyone fathom why we dropped from 2nd in line first time round to 6th? I can’t get my head around how the trials are prioritised it all seems rather murky.

I think the inflection point is potentially so massive that to wait even a couple of years is still worth it.

Having listened to the presentation I can understand Tenner’s clear attempt to shift the narrative more towards organic commercial growth. If Nano comes good on that then the trial is going to be a real sweetener. As Hawi mentioned, a profitable company puts this in another league, and opens the share up to a much more mainstream market.

I’m wondering, given the pipeline, if this technology is finally being considered as viable. They say it can take a while for breakthrough tech to really gain traction. Could be he next few years be our moment?

I think the share price fall is down to drifting timelines and dwindling settlement hopes. Understandable given the previous consensus was an imminent trial. Will keep adding when I can.

It’s strange logic to suggest one court will get a read off the other. The justice systems of each are strong and will weigh up the case independent of one another, aside from the massive procedural differences between the two that exist anyway.
There are many instances of courts reaching different conclusions on virtually identical cases.

As to the whole government issue that verges on conspiracy.

The MMs have had an absolute hoot with this today

The drop can largely be attributed to the drifting time horizons around the trial, and a few traders moving on for a while. As a long term holder it makes no real difference and I’m confident on the long term direction of travel. It will allow me to keep building my position, which I said from the outset I intended to do until either trial or settlement.

Useful to know thanks Sammy