Thank you for some brilliant forensic work compiling a great post. I read it as soon as you posted, though wished to sit back for a time to digest it.
You commented that this apparent trademark conflict or dispute could be the reason for the stall with the NASDAQ listing. You could be correct.
As a former lawyer a trademark is no small matter in the US of A. More importantly, where a company is on the verge of releasing a hugely sophisticated marketing campaign upon the announcement of a NASDAQ listing actually occuring, then all media holding the Prima Biomed name and particularly, CVac, is crucial in terms of product placement.
Big launches are regarded as the First Strike, especially when coming from outside of the home market, which the dual listing is doing.
Having also worked in advertising in my earlier years, I know and appreciate how much of a huge disruption this trademark issue is.
Should PRR, (as I currently believe we will have to), be required to re-badge already finished production materials created in preparation of a final massive marketing move into the US of A, then yes, we have delays running into a few weeks.
A few weeks to work out and/or settle the trademark issue, and if that means paying big money to get what we want, then watch the slide in cash reserves.
If we don't get what we want, and have to re-badge, then add a couple of extra weeks for fixing all media materials.
Having glanced at your sources I get the view that the other party contending for ownership of 'CVac' may have been first in the game. That is not the be-all-and-end-all as with patents, but it does assist to see where the result will likely fall.
Please correct me about the timing of the other company's date when they say they first asserted 'CVac' to the US domestic market, as it will likely be US domestic market presence first.
However, being earlier to simply use 'CVac' in the US doesn't always mean you get rights.
Trademarks typically require those who wish to assert them, to apply formally for protection of their mark. If this other party who are claiming the rights to 'CVac' were lazy for a number of years and never bothered to assert and apply for a Trademark ruling, then that fact is considered a lot, especially where a company like Prima comes along and can show that they have always shown their number product to the world as 'CVac'.
These are the things lawyers and judges have to consider, and more - like how nice the lawyers speak to the judges. I wish there was more of that around here...
Anyhoo, I need to end with a slam.
If, and it is an 'IF', this trademark dispute turns out to be the reason why Prima Biomed has failed to list on the NASDAQ, then I take cause with management for not having the guts to tell the market - especially when it has nothing whatsoever to do with the SEC - I have said repeatedly that such a reasoned 'delay' announcement does not disturb the SEC, and is otherwise exclusively an ASIC issue for the Oz and NZ market place - folks, I was Legal Counsel for a publicly listed US company that operates around the world in the number One position for its space, (Irish tax havens et al)... so I know a little bit. And please, don't try and blow in here and pick-me-up on finer B&W law if you have it to hand - instead, ask me if we can go off-site to unravel what you do not understand about the law - I just don't want to waste everyone's time here, when I can just give a short-sharp-skinny post of what I know - and I mean that, sincerely....
*(take a breath... and continung)
If, and it is an 'IF', this trademark issue dispute turns out to be the reason for the delay, I understand that management may have chosen not to disclose the fact of a trademark dispute as being the reason, as to some it could be seen as a failure by Prima Biomed management, or Prima Biomed lawyers, properly thinking covering bases and thinking about possible hiccups with moving to a listing on the NASDAQ.
Given the substantial resources and especially touted legal advice being provided to the company for years now, and especially ever since the annoucement to go to the NASDAQ, then IF this trademark issue is the cause of the delay so very late in the day, then it is my view that there has been a failure in management foresight, let alone oversight.
This is an IF discussion people, so don't get your knickers in a knot too quickly.
And finally, IF this turns out to be the reason for the continued delay to list on the NASDAQ, then I say straight to every readers' face, that a screw-up in trademark rights being the cause of the delay is not in itself legally sound reason, to NOT tell the the market why the delay persists....
Indeed, it is a proper business obstacle easily overcome, and more easily explained to, and understood by shareholders, as opposed to further failures to inform, leaving everyone to hopeless conjecture...
Martin, Dear chap... will you please set the record straight, and save my little typing fingers?
good luck
(all imo and in my personal legal opinon)
PRR Price at posting:
24.2¢ Sentiment: None Disclosure: Held
(20min delay)