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In the period before patent cases got to trial, Judge Gilstrap’s court has proved somewhat plaintiff-friendly, according to data analyzed for the Journal by Lex Machina, a legal analytics provider. Of 6,929 patent cases in front of Judge Gilstrap, 83% were resolved with a settlement before trial, compared with 69% of patent cases nationally since 2011.
Once litigants got to trial, however, the data analysis shows Judge Gilstrap’s rulings have favored defendants more often than in patent suits nationwide. Since 2011, he has found that defendants infringed patents in 34 cases and didn’t infringe in 35. Nationwide, judges have found infringement in 277 cases and none in 204 cases, according to Lex Machina, which also counted more patent suits handled by Judge Gilstrap than any other judge in the past decade.
This is a timewasting exercise by Samsung pure and simple. The RNS and communications are written not for us mugs but for Samsung to absorb... this has always been the case well before litigation started and they were given the opportunity to by our IP for far less money. Risk is ratcheting up for them, if they choose not to accept our reasonable ~$250M-$300M settlement (which covers global and future royalties not just), risk and cost ratchets again up for them to 3x/4x this and some... Will they play ball? Hopefully. Good luck BT
Going back to the courtroom is far more likely the outcome. This is why shareprice is where it is today.
Do not sell.. As a seasoned investor this is a blatant tree shake to root out opportunists. GLA
Yes I'll take more shares when they come.. free money. As soon as this is in the press no chance.
Well done every LTH that stuck though the doldrums! This will soo be worth it coming out the other side.
You did very well John. After 8 years a £500 loss... what a total shambles. Abeit think this could have been thousands loss. What shares can you recommend for us?
I think PMG is now priced for TO. Depending how long this takes. If anyone goes to the AGM also please take a photo of Tom and share it somewhere online.
https://www.linkedin.com/company/aupec-limited/people/ - All retired
TC is the only employee of AUPEC. Just wrote of £2.2M, probably to his own pocket. Streetview shows deserted offices https://goo.gl/maps/pLaN56uYQvRbVT5x5
Good point mrc.. anyone with that cash and intention would just buy out PMG now.. or wait until its on its knees and just take all its assets for a bargain. There is only one acquisition on the cards here and TC is the little fish now.
FPSO technology is a dirty word at PMG (despite TC himself saying this is the only way to make PDL commercially viable)... no mention of it anymore :)
SoB I think mrc and yourself make very good points. I have sold as a result of the original value proposal of PMG going down the drain, I have held since 160p (old money) ~ 8 years. TC is showing many signs that his hyped up Dana experience cant be repeated, he is now a man with little plan, a very weak team (due to his own making) and living on luck and prayers. If it wasn't for poor Ukrainans and his own wife's financial wows (he bailed her and her lover out with our money) this company would have been game over by now if gas prices didn't rise I think it is right the EU taxes highly lucked out companies who would have never had this money in the first place, crazy logic I know. I cannot forsee GPA ever happing there is way too much political pressure and sooo many oil/gas projects at much larger scale and more cost effective, just look globally ever nation on earth is looking and investing in more local oil/gas supply to offset Russian supplies. TCs proposition to make GPA cost effective was to introduce new technology... this technology still doesn't exist (floating platforms) and would take a decade to prove out plus all the political/environmental/financing pressure (myself included) saying focus on renewable tech instead.
SoB think advice to you is look for a exit strategy GL, all PMGs partners have walked away, time to think about yourself also. My only question for AGM would be is what is the plan to increase margin (profit after tax!) i.e. TC stop spouting that you are making 89% and hiding the fact despite mega revenues you cant make a profit after tax..
SoB and mrc thank you for your contribution here.. Clearly shows that this share is very still much 50/50, 60/40 or 40/60.. depending on glass half full. Either way company is not going bust anytime soon.
Thank you SoB.. appreciated you are also a LTH. Yes £19M is a meager amount relatively, however the market attributes near zero value to GPA (by admission by PMGs own Finncap reports). This also implies that a seriously substantial cash raise would be required to develop it alone/partnered... with £20M in the bank there was some chance of gearing funding, this is perhaps gone now? Like someone said if you are not making mega profits now when will you?.. this has always been PMGs value proposition. Please let us know what you find out at the AGM if good news I will re-invest..
GLA - all I can say
I have to admit this is a red waving flag too far. As a result I have sold my holding at a loss (I held for a good 8 years!). Too much dishonesty and cronyism going on. Final straws being not being honest about EU windfall tax, write-off for AUPEC who have been bankrolled for years (who are they?! probably TC himself), employment of teenager for CFO and his brother doing something else, absorbing wife's losses, not stating decommissioning liabilities anywhere and what timeline for this was etc etc etc. I have held a smaller holding by some revese logic somewhere this share could be manipulated to £1 the trend is looking that way.. but only to recover losses now.
Why did'nt TC just come out and say this? EU windfall tax, which is referred to as a solidarity contribution in the EU regulation, is calculated as a percentage of earnings above a baseline level of 120% of the average of taxable earnings of a subject company between 2018 and 2021. Poor earnings for PMG between 2018-21 hurt us... thats why no mention of it.
I just cant understand why taxation is so high? If anyone goes to AGM please can you get some info on this? Is it a one-off or a systemic problem
Thank you. A lot of good comments here... and a lot to think about. TC has invested heavily in this business, this will be just as uncomfortable for him right now.