This announcement comes as no surprise as it was inferred months ago that this was a likely outcome. In fact some investors (lunchalot for one) left HC (and IPR) the day the patent was accepted, but "with modification". Clearly some in legal circles were able to read between the lines way back then.
If you consider the revenues accumulated from the initial float, capital raising, etc, it is clear from this decision that the IP assertion business has been an absolute failure and the directors have done nothing more than turn a dollar into 10 cent. So why should they now be trusted in a venture capital business where they have no experience at all?
Looking back, when we finally secured $35M in the bank a couple of years ago I remember one poster (who was shot down by the faithful) suggested that we become a BHP holding company with the winnings. If we sacked the board that day and followed his lead there would be now close to $100M in the bank not $10M. It is my view that the interests of the shareholders were never a concern to the board and they couldn't wait to spend the winnings on the next best thing. I think its time for the old guard to move on...
IPR Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
