Ann: $200,000 Convertible Note, page-106

No one is making claims that anyone here knows more about the telco industry than MSFT/Metaswitch/Spark or accounting than BDO.

***...

All this is a sideshow as you desperately seek to validate your position in the event of NOR failing, that someone will pay big bucks for the IP.

The IP is not unique and NOR has not protected it via a moat of any sort. It is not patented. Further, should NOR go into VA, it is the administrators who will attempt to flog any assets off to at first meet creditors (ironically, this would be PO). If there is anything left over, it will be distributed to SH's.

Which company in their right mind would buy an App for $millions when there is 1 customer? If your Hail Mary play is Metaswitch will buy it then how much will they pay? They may be the only bidder and against this they will understand the costs to build the App themselves.

The IP is only worth what someone is willing to pay for it. It could be worthless.