Jacksonville based ParkerVision won their patent lawsuit against Qualcomm in Orlando on cell phone radio technology. They were awarded $173 Million.
http://members.jacksonville.com/news/metro/2013-10-24/story/jury-awards-jacksonvilles-parkervision-173-m-qualcomm-patent-suit-stock
This company is a mystery because after selling off their only revenue producing products years ago ("D2D" WLAN adapters) they have continuously lost money. Lots of money.
There are people who have become somewhat disturbed at ParkerVision due to their mysterious source of funding. Just as the company starts to run out of cash, they conduct yet another public offering of stock (which always sells) and they continue once again for a year.
In fact the mystery has been running so long, there is a website dedicated just about them.
http://www.pvnotes.com/ (http://www.pvnotes.com/)
They are quite blunt in their purpose....
As technical experts, we are offended by ParkerVision's lack of technical integrity. Since little or no feedback mechanism exists to correct the claims and misstatements made by and about the company, we therefore resolved to create a web site devoted to only posting the truth about ParkerVision.
We believe that as a technical community, we should join in the fight against fraudulent technical claims. As technologists and entrepreneurs, we are only as good as our credibility, so if you can show us where an article we posted on our website is wrong, then we will retract it and post such retractions. An important note: don't try to quote Jeff Parker to us to prove anything - our whole thesis is that Jeff is completely unreliable...
Wow, "fraudulent technical claims". Pretty stiff accusation, especially in light of recent litigation. They even comment that the patent PV claims has prior art. Hmm.
Who keeps buying stock in a company that has lost money for years and years?
What's the scoop with ParkerVision?
Perhaps the lawsuit has been pending for many years?
I am not a broker or stock speculator, but many short sellers have said that the stock is worthless. Current owners were overjoyed when the stock went up, they could finally unload it before the floor fell out (which it did)
With no products that they can sell or OEM and out of capital to take anything on themselves, some believe this lawsuit is a final "hail mary" for the firm. The fact the stock fell 60% the day the verdict came out (due to ParkerVision saying they expected $500 million).
PV is currently trying to get an injunction against Qualcomm, but I suspect this will become a negotiating position to just have Qualcomm buy out ParkerVision and they can retire/cash out to stop the madness.
Time will tell.
They've long since been a patent troll, spuwho is correct they sold off their actual business and now they just run around buying/selling patents and suing other people for infringement. 100% of their business is patent litigation. It can still be profitable, but mega high-risk and not really appropriate for a publicly traded company IMHO. All of them sue each other, but I mean the ones that just do nothing but that as their entire business, that seems risky as an investment strategy because only the lawyers know wtf is actually going on and they're not allowed to talk. I wouldn't invest in them.
Quote from: spuwho on October 26, 2013, 11:29:25 AM
I am not a broker or stock speculator, but many short sellers have said that the stock is worthless. Current owners were overjoyed when the stock went up, they could finally unload it before the floor fell out (which it did)
With no products that they can sell or OEM and out of capital to take anything on themselves, some believe this lawsuit is a final "hail mary" for the firm. The fact the stock fell 60% the day the verdict came out (due to ParkerVision saying they expected $500 million).
I see, didn't know about any of this. Well, I think you've pretty much answered your own question about the company...
Chris, your comments on PRKR are grossly inaccurate compelling me to respond. PRKR has never sold or bought a wireless (its current business) patent. All of its patents are for technology PRKR itself has created. As a long time shareholder of Parkervision (PRKR) and acquaintance of management, I can assure you this company is legitimate. It invented its own technology and is doing nothing more than protecting the millions of dollars of shareholder's monies invested in it's research, development, marketing, and legal protection from those who have now been proven, or may yet be proven, to have infringed upon ("stolen"?) it. I say this as someone who has yet to make money on its stock but in recognition that, short of fraud, it is my personal responsibility to do due diligence on my investments and accept varying degrees of risk. Nothing is riskier than investing in a company developing revolutionary technology with limited capital and experience. Such is PRKR.
I had written an extensive history to post here but, unfortunately, MJ timed out and I lost it. I don't care to go through that effort again, but suffice it to say, you can visit PRKR's web site, read PRKR's SEC filings, primarily its 10-K's, and/or Google the many articles on it to get all the finer details. What you will find is a company that has (1) been viciously attacked by numerous short sellers spreading misstatements, outright lies, and making personal and defamatory attacks on PRKR and its management led by a Mike Farmwald, founder of Rambus (ironically, a true patent troll who created the "PV Notes" site mentioned for the purpose of manipulating the stock for his and others short selling advantage) and (2) been victimized by patent infringers (as just 100% proven in Federal court in a trial against Goliath, Qualcomm (QCOM), the $120 billion market cap behemoth of the wireless chip industry). All of this has served to unfairly close doors to PRKR sales over these many years giving the company no choice but to pursue others to ensure its own survival. By the way, the current case prevailing over QCOM is the ONLY lawsuit to date that PRKR has ever filed, hardly the behavior of a "patent troll" (again, see history of Farmwald's Rambus).
You will also find that the board, management, and key employees have steadfastly stood by this company and not, with the exception of incidental sales, sold their stock in it, even when it hit levels of $50 a share over 10 years ago.
If PRKR had a shortcoming, it was management's miscalculation as to the capital, time, and effort it would take to overcome its weak position in the market, to develop its technology to industry standards for mass chip production, and to, ultimately, protect and defend its investments. It also underestimated the resistance to new technology by those with entrenched careers in technology that would be rendered less valuable/obsolete by PRKR's inventions.
PRKR has now been completely vindicated by the QCOM trial where all of its challenged patents where upheld and all the products of QCOM that PRKR alleged infringing use where so held to do so. While PRKR did not get the finding of willful infringement (which would have allowed the judge to possibly treble the $173 million damage award), it has asked for an injunction against QCOM for use of its technology, is awaiting a finding and/or settlement with QCOM over future use royalties, and still may sue for international infringement (which may exceed U.S.) by QCOM as this case only involved U.S. infringement. (I do note that QCOM has stated it will appeal but this could be just a negotiating tactic for settlement talks.) Further, PRKR may now proceed against others it determines have infringed and/or reach prior-use settlements and/or additional royalty agreements.
Best of all, PRKR's standing in the world of wireless technology has finally been fully validated by independent parties which will give PRKR new credibility in an industry reluctant to accept a small, unheard of, newbie in the front door with what many, including QCOM, have determined is the "holy grail" of wireless.
PRKR's story, has no doubt, been a seesaw, but the market, as of the Friday close, still values the company at $287 million, certainly not peanuts. This value reflects the average of a wide range of expectations to which each potential investor is entitled to. If PRRK succeeds in developing ongoing and substantial revenues for use of its patented technology, the stock has the potential to rise multi-fold over current levels. If, the company is drained of cash before so doing, it could face its demise. However, over the last 15 years, or more, the company has never failed to raise new capital when needed, most likely due to its compelling technology which apparently has also withstood the tests of such investors. For that, they have exceeded all expectations :).
Patent troll is a term of art, it's not necessarily a negative, just means that their sole business at this point is patent litigation. If that's untrue, then by all means, tell me what product do they make? And aside from enforcing patents, what revenue do they earn from any actual operations?
http://en.wikipedia.org/wiki/Patent_troll
QuoteA patent troll, also called a patent assertion entity (PAE), is a person or company who enforces patent rights against accused infringers in an attempt to collect licensing fees, but does not manufacture products or supply services based upon the patents in question.
At the end of the day you can certainly make money doing what they're doing, I'm not disputing that, it's just not personally something I'd invest in. At least not heavily. Most patent trolls are privately held because their revenue models don't lend themselves to being publicly traded. You lose however many hundred millions over five or ten years then one year you make a billion dollars, then you go back to losing money for however many years until a case pays off. It basically guarantees that the stock will be a permanent dog.
I'd get out. It's not necessarily anything to do with the company itself, just this business model itself doesn't garner a high P/E on a public issue, they always seem to be priced on a worst-case-scenario basis, and that kills it for me. This isn't a popularity contest; money doesn't care how you feel about it, and if you can't make any money then why hold the stock? That and it's inherently risky, litigation can always go the other way at any moment. Most companies they might report earnings that miss by a few cents and the board overreacts, but with a patent troll it's more like a small cap biotech with a small pipeline, if any of the cases in the pipeline blow up it's more of an all or nothing proposition.
Look, I'm happy you're pleased with your investment, reasonable people can and often do come to different conclusions. What would the world be if everyone thought exactly the same.
QuoteA patent troll, also called a patent assertion entity (PAE), is a person or company who enforces patent rights against accused infringers in an attempt to collect licensing fees, but does not manufacture products or supply services based upon the patents in question.
Chris, I would be reluctant to use Wikipedia for a legal definition, but, even so, the quote you give does not cover PRRK. Further, if you had quoted all of that portion of Wikipedia's article you would have noted an acknowledgement that, indeed, the term "patent troll" has "pejorative" connotations. PRKR has "manufactured" new technology. It has provided substantial services to assist in its development and use by third parties. If you define "manufacturing" as a tangible product, it has produced actual working chips using its technology. What PRKR hasn't done, is made true sales, to date, of its technology. QCOM was given an inside look under non-disclosure agreements signed by its top management and then proceeded to violate them. If you review the trial evidence, there were numerous QCOM emails evidencing QCOM knew exactly what it had and what it was doing. That was why the stock rose to over $7 on the reasonable expectation by the market that the jury would surely find willful infringement providing for up to treble damages. Some observers believe that one or more jurors held out on the required unanimous verdict based on withholding a finding of willful infringement. Regardless, it was mainly that failure to deliver a finding of willful infringement that drove the stock down 60% that day. It will be "fun" to watch and see if it rebounds substantially as the case proceeds and the market learns of the remaining opportunities to favor PRKR.
I already acknowledged the risk of this type of investment. PRKR stock has swung wildly over the years from a high of $50 to a low of $0.33. For much of its life, its stock has led the NASDAQ in short positions taken and percentages of daily change. Plenty of day traders have loved this. Long term longs and shorts, depending on timing, may or may not have done so well. It is not much different than betting on a pharmaceutical company's efforts to bring a new drug to market. It can be a real crap shoot. But, now that PRKR's technology has been essentially endorsed by QCOM, the "Intel" of the wireless chip market, PRKR is much further along in becoming the "real" company you, I, and many others are looking for. In the meantime, there is no shortage of far "less risky" stocks for you to invest in. Just don't hang a company because it's business model overlays an inherently risky process.
By the way, Apple was close to bankruptcy, ironically, rescued by a Microsoft investment leveraged by disputes over patented technology. You would be retired by now if you had made that bet. But, hindsight is 20/20. :)
Patenting things and suing on said patents isn't the same thing as manufacturing an actual product, it's called patent trolling. Like I said, it can be profitable, just not generally for the investors if it's publicly traded. Like I said before, reasonable minds can differ, but the fact that you signed up for this website for the express purpose of having both of your 2 total posts trolling for this company and what an awesome investment it is sort of solidifies your credibility on this topic.
Meanwhile, back at the ranch, they just won a case and their stock actually dropped. I'll leave it to everyone else to figure this one out on their own.
Lmao at comparing Parker Vision to Apple.
Quote from: ChriswUfGator on October 29, 2013, 09:28:29 AM
Patenting things and suing on said patents isn't the same thing as manufacturing an actual product, it's called patent trolling. Like I said, it can be profitable, just not generally for the investors if it's publicly traded. Like I said before, reasonable minds can differ, but the fact that you signed up for this website for the express purpose of having both of your 2 total posts trolling for this company and what an awesome investment it is sort of solidifies your credibility on this topic.
Meanwhile, back at the ranch, they just won a case and their stock actually dropped. I'll leave it to everyone else to figure this one out on their own.
Since you repeatedly and adamantly that you are right, I took the time to register so I can respond here.
1. ParkerVision has made real products. If you know how to google you probably would have found out already (between your two posts, for example).
2. ParkerVision has made real products pertaining to wireless technology, related to the recent patent lawsuit against Qualcomm. I would like to bet you if I ship you a brand new in box ParkerVision WiFi product, that you would open it up and swallow the PCMCIA WiFi adapter whole into your stomach and keep it inside for 24 hours. If this products doesn't exist (I have more than 10 boxes here in storage, and sometimes still use some of them), then I will eat my own smartphone! I used to have all 3 products, now only have 1 (might still have the USB around but not in large numbers. The WiFi router is partly defective as the WiFi portion has died).
3. Patent troll, or simply the word troll in the internet cyberspace context, is indeed derogatory. You can't back paddle it now. Too late.
4. Are they heavily litigating as a company? I don't have x-ray vision to the future, but as of today, it is their only patent suit so far. But you said such term is used to describe company making only patent lawsuit and nothing else.
I don't care what kind of opinion you have on ParkerVision, its management or even the name. But if you can't even grasp the simple facts, which are so easily available on google, you simply won't win any arguments here (or elsewhere for that matter).
Or may be you are a troll. Now that would make sense.
Quote from: fortissimo on November 18, 2013, 03:12:28 AM
Quote from: ChriswUfGator on October 29, 2013, 09:28:29 AM
Patenting things and suing on said patents isn't the same thing as manufacturing an actual product, it's called patent trolling. Like I said, it can be profitable, just not generally for the investors if it's publicly traded. Like I said before, reasonable minds can differ, but the fact that you signed up for this website for the express purpose of having both of your 2 total posts trolling for this company and what an awesome investment it is sort of solidifies your credibility on this topic.
Meanwhile, back at the ranch, they just won a case and their stock actually dropped. I'll leave it to everyone else to figure this one out on their own.
Since you respeatedly and adamantly that you are right, I took the time to register so I can respond here.
1. ParkerVision has made real products. If you know how to google you probably would have found out already (between your two posts, for example).
2. ParkerVision has made real products pertaining to wireless technology, related to the recent patent lawsuit against Qualcomm. I would like to bet you if I ship you a brand new in box ParkerVision WiFi product, that you would open it up and swallow the PCMCIA WiFi adapter whole into your stomach and keep it inside for 24 hours. If this products doesn't exist (I have more than 10 boxes here in storage, and sometimes still use some of them), then I will eat my own smartphone! I used to have all 3 products, now only have 1 (might still have the USB around but not in large numbers. The WiFi router is partly defective as the WiFi portion has died).
3. Patent troll, or simply the word troll in the internet cyberspace context, is indeed derogatory. You can't back paddle it now. Too late.
4. Are they heavily litigating as a company? I don't have x-ray vision to the future, but as of today, it is their only patent suit so far. But you said such term is used to describe company making only patent lawsuit and nothing else.
I don't care what kind of opinion you have on ParkerVision, its management or even the name. But if you can't even grasp the simple facts, which are so easily available on google, you simply won't win any arguments here (or elsewhere for that matter).
Or may be you are a troll. Now that would make sense.
Sure, bring me a box containing anything actually manufactured by Parker Vision (that's 1: Not from ten years ago, and 2: Isn't somebody else's product with whom they're enforcing or licensing a patent) and I'll eat my words. By all means, come by my office with it, 2720 Park Street.
Of course, until then:
(http://izquotes.com/quotes-pictures/quote-there-s-a-sucker-born-every-minute-p-t-barnum-303184.jpg)
Per the Jax Daily Record:
ParkerVision sees $60 million a year from Qualcomm
Monday, November 18, 10:40 AM EST
By Mark Basch, Contributing Writer
ParkerVision Inc. was awarded $173 million in damages from Qualcomm Inc. last month by a federal jury in Orlando, but Chairman and CEO Jeff Parker sees that as only the beginning.
The $173 million was for past damages, but the verdict in the company's patent infringement lawsuit also gives ParkerVision an opportunity to reap future royalties from Qualcomm.
(http://www.jaxdailyrecord.com/slideshow_image_sizer.php?img=storyimages/38597.jpg)
During the Jacksonville-based company's quarterly conference call with investors last week, Parker said those royalties should equal at least $60 million a year for the next decade.
The jury decided that Qualcomm has been manufacturing products using ParkerVision's patented wireless technology. ParkerVision will be filing a motion with the judge in the case seeking an injunction prohibiting Qualcomm from continuing to use the technology, or for Qualcomm to pay royalties if it continues to use it.
Parker thinks Qualcomm will not stop using the technology.
"We believe it is clear, based on Qualcomm's witnesses' own testimony, that Qualcomm currently does not have any non-infringing alternatives available, and the development of a non-infringing alternative would take years," he said.
Therefore, Qualcomm should pay royalties for its use of ParkerVision's patents, which run through 2022, he said.
Based on testimony at the trial, Parker said Qualcomm is shipping more than 250 million units a year using the technology, and the jury awarded ParkerVision 23 cents per unit for previous use of it. That would equate to almost $60 million a year for ParkerVision, but the company will argue for a higher royalty rate.
"We will be requesting that the court enhance the rate found by the jury since Qualcomm's post-verdict infringement will unquestionably be willful," Parker said.
The downside to all this for ParkerVision is that the company hasn't seen any money yet and even the $173 million awarded by the jury could be overturned on appeal. While Parker is confident the company will ultimately win in appellate court, he acknowledged the process could take more than a year if Qualcomm continues to fight.
In the meantime, ParkerVision is still losing money. The company last week again reported no revenue for the third quarter and a net loss of $6.4 million, or 7 cents per share.
ParkerVision is continuing to work on deals to license its wireless technology to other manufacturers, and Parker said the results of the Qualcomm trial will help its efforts.
"With a favorable verdict in District Court behind us, we believe the path is clear for ParkerVision to become an active and rightful participant in the wireless market and to secure our place in the ecosystem that makes the wireless marketplace the economic powerhouse it has become," he said.
The patents that PRKR took to court are as follows:
6,061,551
6,266,518
6,370,371
7,496,342
7,515,896
7,724,845
7,822,401
ParkerVision's patent portfolio can be view on Google Patents here:
https://www.google.com/?tbm=pts#q=ParkerVision&tbm=pts (https://www.google.com/?tbm=pts#q=ParkerVision&tbm=pts)
The court ruled that 4 were violated.
I'm aware of all this, and already gave my analysis of why the stock will continue to be a dog regardless. Again, reasonable minds can always differ. Sounds great though, by all means...buy, buy, buy. Long as it's with your money not mine.
Quote from: ChriswUfGator on November 18, 2013, 10:15:41 PM
I'm aware of all this, and already gave my analysis of why the stock will continue to be a dog regardless. Again, reasonable minds can always differ. Sounds great though, by all means...buy, buy, buy. Long as it's with your money not mine.
I don't hold a legal opinion either way, so I wasn't countering you, just updating the information floating around. If you read the lines, the shorts are mad and think the judge screwed up, the longs are freaking because they think Qualcomm is going to get their butt kicked.
You have every paid hedge fund expert weighing in...."engineering by PRKR can't be duplicated" to others who say "it's crap and doesn't work".
For what its worth.......
I used to have the D2D wireless stuff the other poster talked about. I know who fabbed it, I did a round of testing on it to see how and if it worked based on its claims. I understood the claims PRKR were making on the D2D and what it could do for generic WiFi many moons ago.
The D2D failed in the market place for a lot of reasons:
- First off, poor marketing. As far as I could tell only one distributor actually sold it retail
- It was expensive compared to the competition, the value was never understood by consumers
- Technically superior under
very specific conditions which were next to impossible to replicate in its typical use case
- Was reverse engineered in less than 6 months and product that actually exceeded its performance came out shortly after. PRKR still had a lot of unsold inventory and no way to improve the product
I still have the PCMCIA adapter in my inventory of test devices and its has no value. Unless someone can enlighten me, it doesn't work with any modern, current OS. (Many don't support the custom Prism based silicon it used, it reports as a "unknown Prism compatible adapter") The D2D feature unique to the product is only good when used with a D2D counterpart (like a wireless router/access point). It's reception was pretty good, but it appeared to be more a function of its somewhat large antenna module on the card itself.
I once sat next to a PRKR RF engineer on a biz trip and I discussed D2D extensively with him. I was pretty honest and he handled my feedback really well. In summary, his response was a "wait till you see what we are working on" and so I thanked him and kind of waited to see "what they were working on". Not to sound snarky, but I am still waiting and that conversation was 10 years ago. The world of WiFi is now in draft AC at 1GbE. A long way from those days of 2.4Ghz OFDM.
While hindsight is always 20/20, they should have licensed the technology to someone who was making commercial wireless bridges, where the radios were most likely to come paired. This would have exposed more of its value.
Quote from: ChriswUfGator on October 29, 2013, 09:28:29 AM
Like I said before, reasonable minds can differ, but the fact that you signed up for this website for the express purpose of having both of your 2 total posts trolling for this company and what an awesome investment it is sort of solidifies your credibility on this topic.
Quote from: ChriswUfGator on November 18, 2013, 10:15:41 PM
I'm aware of all this, and already gave my analysis of why the stock will continue to be a dog regardless. Again, reasonable minds can always differ.
I guess, Chris, reasonable minds can differ, as long as they don't differ from you. I referred generously to both sides of this coin in my posts and both noted and accepted the risks of this investment. I did make a greater play for the positives as you dwelled only on the negatives, requiring an offset to your position. As an attorney, I would expect you do be open to an opposing argument without vilifying it. I would say you are the one lacking credibility. Who is the real "troll" here? Why don't you tell us, are you shorting this stock? You sure act like you are.
By the way, I note that the stock has rebounded about 60% off of its post verdict lows, hitting $4.05 today, just before it dropped in sympathy with the late PM market sell off. If you reviewed my comments, I noted the possibility the stock might rebound once investors fully digested the positives I pointed out exist for PRKR. Having watched this stock these many years, it will surely be a roller coaster until more of the story plays out. In the meantime, the market is placing a value of nearly $350 million on this "worthless" dog of a company. Chris, what's your net worth? If it is less than PRKR's, how "worthless" might you be? Arrf, arrf! :)
Quote from: jaxlongtimer on November 19, 2013, 12:22:23 AM
Quote from: ChriswUfGator on October 29, 2013, 09:28:29 AM
Like I said before, reasonable minds can differ, but the fact that you signed up for this website for the express purpose of having both of your 2 total posts trolling for this company and what an awesome investment it is sort of solidifies your credibility on this topic.
Quote from: ChriswUfGator on November 18, 2013, 10:15:41 PM
I'm aware of all this, and already gave my analysis of why the stock will continue to be a dog regardless. Again, reasonable minds can always differ.
I guess, Chris, reasonable minds can differ, as long as they don't differ from you. I referred generously to both sides of this coin in my posts and both noted and accepted the risks of this investment. I did make a greater play for the positives as you dwelled only on the negatives, requiring an offset to your position. As an attorney, I would expect you do be open to an opposing argument without vilifying it. I would say you are the one lacking credibility. Who is the real "troll" here? Why don't you tell us, are you shorting this stock? You sure act like you are.
By the way, I note that the stock has rebounded about 60% off of its post verdict lows, hitting $4.05 today, just before it dropped in sympathy with the late PM market sell off. If you reviewed my comments, I noted the possibility the stock might rebound once investors fully digested the positives I pointed out exist for PRKR. Having watched this stock these many years, it will surely be a roller coaster until more of the story plays out. In the meantime, the market is placing a value of nearly $350 million on this "worthless" dog of a company. Chris, what's your net worth? If it is less than PRKR's, how "worthless" might you be? Arrf, arrf! :)
I haven't 'vilified' anything. What I did was point out that you signed up for MJ specifically to post positive comments on this forum as soon as you got a search alert for "Parker Vision." All 3 of your total of 3 posts have been on this thread, plugging this stock. And that happens to be the truth. As an attorney, not that I'm sure what that has to to with the price of tea in china, but since you brought it up, I am mindful of the credibility of witnesses.
Benchmarking patent infringement awards is making for big numbers for PV. Qualcomm is not doing well on this legally at the moment.
http://seekingalpha.com/article/2191043-parkervision-potential-damage-award-5-billion-5x-prior-award-plus-10-years-future-royalties-price-target-50
PV is starting to engage resources to go after other users of the technology now.
http://www.law360.com/articles/533896/173m-verdict-against-qualcomm-stands
But they announced another net loss in the last quarter. If they can complete the final legal awards and start getting real cash, they can stop diluting their shareholders to fund ongoing R&D.
The mystery of PV continues:
Per The Daily Record:
http://jaxdailyrecord.com/showstory.php?Story_id=543260 (http://jaxdailyrecord.com/showstory.php?Story_id=543260)
ParkerVision $173M award tossed out, judge questions company's expert witnesses
By Mark Basch, Contributing Writer
A federal judge tossed out a jury's $173 million patent infringement award to ParkerVision Inc., ruling that the jury erred in its decision in the lawsuit against Qualcomm Inc.
"While the court is loath to overturn the jury's verdict, on this record, it is the court's only choice," U.S. District Judge Roy B. Dalton Jr. said in his ruling Friday that was made public on Monday.
Jacksonville-based ParkerVision said it will appeal.
Another quarter, another loss, more promises of revenue.
http://www.jaxdailyrecord.com/showstory.php?Story_id=543668 (http://www.jaxdailyrecord.com/showstory.php?Story_id=543668)
ParkerVision (predicts) sees $1 million to $2.5 million in sales
Most of the headlines surrounding ParkerVision Inc. involve its various legal battles, but the Jacksonville-based technology company has its own elephant in the room that needs to be addressed: when will shareholders see any actual sales of its wireless technology?
ParkerVision says its technology has the ability to improve performance and reduce power consumption in wireless devices, and it has been trying to sell it to manufacturers.
As ParkerVision last week reported another quarter with no revenue, Chairman and CEO Jeff Parker did tell investors that there may be some sales soon, but probably not at the numbers they are looking for.
In the company's conference call, Parker estimated initial upcoming sales "in the $1 million to $2.5 million range, based on the current identified customer opportunities, which were generated from our limited initial campaign and product offering."
When questioned about that relatively low number by one investor, Parker said he is "encouraged" by it "because it's based on what I think is a relatively modest initial campaign, which is now starting to expand, and the geographic coverage is beginning to expand as well."
He also promised better sales news in the future.
"3LP has a number of dialogues that are ongoing right now. I'm hesitant to give you any specific numbers, because I don't think that's appropriate. But from my view on what they're working on, it'll be meaningful. I think it will be very encouraging to our shareholder base," he said.
3LP Advisors is an intellectual property advisory firm that has been working with ParkerVision.
ParkerVision stock loses out minutes after appeal court hearing. Apparently someone in the courtroom didn't like what they heard.
Per JaxDailyRecord:
http://www.jaxdailyrecord.com/showstory.php?Story_id=545459 (http://www.jaxdailyrecord.com/showstory.php?Story_id=545459)
ParkerVision hearing sparks selloff
"In our view, the activity in the stock was in response to the number and the technical nature of the questions directed at the ParkerVision attorney, Mr. (Donald) Dunner, during the hearing," Ladenburg Thalmann analyst Jon Hickman said in a research report.
"We believe investors attending the hearing became concerned that the questions (and Mr. Dunner's answers) pointed to the court favoring the Qualcomm position," he said.
Meanwhile, ParkerVision reported another quarter with no revenue and a net loss of $5.8 million, or 6 cents a share, for the first quarter.
However, the company stuck to its forecast that it will see some revenue in the second quarter, as potential customers buy ParkerVision components to test in their products.
"As we mentioned in our last call, we anticipate reporting some initial revenue from these activities in the second quarter, and that still appears to be the case. I look forward to sharing with you some of the applications that our chips and our engineering expertise will be used in," Parker said.
Another quarter....another loss.....no revenue with yet promises (for several years now) for more. No more stock to issue and sell. How long can they keep it up? It costs them $6M a quarter to keep the lights on.
I honestly can't believe they've been around for this long.
Perhaps for not much longer.....they are suing Samsung now, which in the semi-conductor world is considered a legal death bed as their pockets are extremely deep. PV is going to live a little while longer, but only in litigation.
They hocked what IP assets they think they have to a legal patent troll. The trolls own the place now.
Per Yahoo Finance and quoted in Jacksonville.com:
http://jacksonville.com/news/metro/2015-06-12/story/jacksonvilles-parkervision-cuts-staff-cope-costs-patent-legal-fights (http://jacksonville.com/news/metro/2015-06-12/story/jacksonvilles-parkervision-cuts-staff-cope-costs-patent-legal-fights)
Jacksonville's ParkerVision cuts staff to cope with costs of patent legal fights
An announcement on the Yahoo Finance website Thursday (biz.yahoo.com/e/150611/prkr8-k.html) stated ParkerVision is beginning a reduction in workers at its Jacksonville and Orlando facilities.
"This reduction in force is expected to narrow the company's new product development efforts to customer funded projects," the announcement said.
The workforce reduction is expected to result in a 25 percent decrease in cash for operating activities. Costs on litigation expenses are excluded from those estimates.
ParkerVision's Chief Financial Officer Cindy Poehlman explained the implications of the staff cuts.
"We had approximately 50 employees prior to the staff reduction. While we prefer not to discuss specific head count numbers, what I can share is that we anticipate our total personnel costs will decrease approximately 40 percent as a result of these changes, which have largely been implemented this week," Poehlman said in an email statement.
ParkerVision has struggled to maintain capital to pay for its legal battle with other high-profile mobile communications companies over alleged patent infringements. The company has blamed its financial woes on the cost of these legal fights.
Samsung, Qualcomm Inc. and HTC Corp. and subsidiaries for both of those companies are named in federal complaints revised in 2014 and filed by ParkerVison in the U.S. District Court in the Middle District of Florida.
ParkerVision is asking for a jury trial in an appellate court and seeking unspecified monetary damages from the companies. ParkerVision is also asking for a court injunction to stop those companies from using the technologies the company says it developed.
ParkerVision has been embroiled in such legal battles for four years.
In a ruling in the ParkerVision case issued in June 2014, a federal judge ruled that Qualcomm did not infringe on ParkerVision patents.
The ruling essentially negated a federal jury's 2013 award giving $173 million to ParkerVision. The June ruling granted Qualcomm a new trial.
ParkerVision announced in December that it entered into a funding agreement with 1624 PV LLC for up to $7 million to cover legal fees and expenses incurred for future patent-infringement legal action. The agreement calls for ParkerVision to reimburse 1624 PV LLC with proceeds from future litigation.
For ParkerVision, that was a significant development since the company already spent millions trying to protect patents for wireless technology.
ParkerVision loses in court. Has its patents invalidated.
Per Reuters:
(Reuters) - A U.S. appeals court on Friday upheld a lower court's decision to clear Qualcomm Inc in a patent lawsuit by ParkerVision Inc, allowing it to escape a $173 million verdict for infringement.
Trading in ParkerVision shares was halted on the Nasdaq after the price fell 50 percent to 23 cents.
ParkerVision had accused Qualcomm of infringing its patents beginning in 2006 over a means to convert radio frequency signals, and incorporating its technology in products sold for use in mobile devices such as smartphones.
In June, 2014, a federal judge in Florida overturned a jury verdict that had ordered Qualcomm to pay ParkerVision $173 million for infringing patents for technology used in smartphones.
On Friday, the U.S. Court of Appeals for the Federal Circuit affirmed that ruling. It also invalidated three of the ParkerVision patents in the case, and all but one element of the fourth.
Qualcomm's stock was virtually unchanged.
Another day at ParkerVision, another round of lawsuits.
ParkerVision takes Apple, Samsung and Qualcomm to court.
Per the JBJ:
http://www.bizjournals.com/jacksonville/news/2015/12/16/jacksonville-company-sues-apple-samsung.html (http://www.bizjournals.com/jacksonville/news/2015/12/16/jacksonville-company-sues-apple-samsung.html)
Jacksonville-based ParkerVision has filed a complaint with the U.S. International Trade Commission accusing Apple Inc., Samsung, LG and Qualcomm Inc. of infringing on its patents.
According to the complaint, the companies bring products into the United States that include technology that violates four ParkerVision (Nasdaq: PRKR) patents.
The company has also sued the companies in U.S. District Court.
The products that ParkerVision is targeting often include technology manufactured by Qualcomm and used by the other three.
ParkerVision has been gunning for Qualcomm for years: In October 2013, it won a lawsuit saying the larger company was infringing on its patents, but the verdict was then thrown out.
QuoteJacksonville's ParkerVision mobile technology company is putting 10.9 million shares of stock up for sale.
The move comes as the company announced last week that it would include Apple Inc., and LG Electronics Inc. to a legal dispute ParkerVision has been waging over patent protection for the past several years.
The proceeds from the stock sale are designed to raise about $2.1 million in revenue in order to lower ParkerVision's legal expenses from the ongoing litigation. The decision to put the additional stocks up for sale came as the company saw a 37.4 percent gain in stock value after the latest legal development involving the additions to the legal dispute, a company news release said.
ParkerVision on Dec. 15 filed a complaint with the U.S. International Trade Commission saying that "several companies have engaged in unfair trade practices by unlawfully importing into the U.S. and selling various products that infringe four of ParkerVision's U.S. patents."
ParkerVision has been legally at odds with some big-name mobile communication companies for years.
http://jacksonville.com/news/metro/2015-12-21/story/jacksonvilles-parkervision-selling-109-million-shares-stock-offset-legal?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+JacksonvillecomBusiness+%28Business+news+from+Jacksonville+and+the+First+Coast+-+Jacksonville.com+and+The+Florida+Times-Union%29 (http://jacksonville.com/news/metro/2015-12-21/story/jacksonvilles-parkervision-selling-109-million-shares-stock-offset-legal?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+JacksonvillecomBusiness+%28Business+news+from+Jacksonville+and+the+First+Coast+-+Jacksonville.com+and+The+Florida+Times-Union%29)
Quote from: TheCat on December 22, 2015, 10:57:57 AM
QuoteJacksonville's ParkerVision mobile technology company is putting 10.9 million shares of stock up for sale.
The move comes as the company announced last week that it would include Apple Inc., and LG Electronics Inc. to a legal dispute ParkerVision has been waging over patent protection for the past several years.
The proceeds from the stock sale are designed to raise about $2.1 million in revenue in order to lower ParkerVision's legal expenses from the ongoing litigation. The decision to put the additional stocks up for sale came as the company saw a 37.4 percent gain in stock value after the latest legal development involving the additions to the legal dispute, a company news release said.
ParkerVision on Dec. 15 filed a complaint with the U.S. International Trade Commission saying that "several companies have engaged in unfair trade practices by unlawfully importing into the U.S. and selling various products that infringe four of ParkerVision's U.S. patents."
ParkerVision has been legally at odds with some big-name mobile communication companies for years.
http://jacksonville.com/news/metro/2015-12-21/story/jacksonvilles-parkervision-selling-109-million-shares-stock-offset-legal?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+JacksonvillecomBusiness+%28Business+news+from+Jacksonville+and+the+First+Coast+-+Jacksonville.com+and+The+Florida+Times-Union%29 (http://jacksonville.com/news/metro/2015-12-21/story/jacksonvilles-parkervision-selling-109-million-shares-stock-offset-legal?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+JacksonvillecomBusiness+%28Business+news+from+Jacksonville+and+the+First+Coast+-+Jacksonville.com+and+The+Florida+Times-Union%29)
Depending on who you talk to in the markets, the ITC announcement that caused them to jump to .25 a share, just happened in time for the "private placement", was simply a PR stock bump action. Basically using a legal filing of paperwork as a stock price bumping tool. The funny thing is the "institutional investor" who hasn't been named required that a ParkerVision director put in their own skin for $50k. PRKR has been using PR tricks like this for several years to try and milk more dollars out of their stock offerings.
ParkerVision is still about to be kicked off NASDAQ and into the pink sheets since they have been under a dollar for so long.
Time is running out. Even the "shorts" don't use PRKR anymore. They are down to $1.7M in cash and have nothing but legal bills and no revenue.
The legal action is a hail mary to keep the doors open just a bit longer.
ParkerVision Closes $3 Million Private Placement of Common Stock
JACKSONVILLE, Fla., July 07, 2016 (GLOBE NEWSWIRE) -- ParkerVision, Inc. (PRKR) ("ParkerVision"), a developer and marketer of semiconductor technology solutions for wireless applications, today announced the closing of a sale, in a private placement transaction, of 1,090,909 shares of common stock at a purchase price of $2.75 per share for total gross proceeds of approximately $3 million. The shares were sold to an accredited investor ("Investor") under a securities purchase agreement signed on July 6, 2016.
The securities purchase agreement contains customary representations and warranties and covenants of ParkerVision and the Investor. The shares were offered and sold solely to the Investor on a private placement basis. ParkerVision will register the shares purchased by the Investor under the Securities Act of 1933, as amended ("Securities Act") for resale by the Investor. ParkerVision has committed to file the registration statement by the 20th calendar day following the closing of the sale of the shares.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT:LTS) acted as placement agent in connection with the offering.
The shares being offered have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About ParkerVision
ParkerVision, Inc. designs, develops and markets its proprietary radio-frequency (RF) technologies, which enable advanced wireless solutions for current and next generation communications networks. Protected by a highly-regarded, worldwide patent portfolio, the Company's solutions for wireless transfer of RF waveforms address the needs of a broad range of wirelessly connected devices for high levels of RF performance coupled with best-in-class power consumption. For more information please visit www.parkervision.com. (PRKR-G).
Safe Harbor Statement
This press release contains forward-looking information. Readers are cautioned not to place undue reliance on any such forward-looking statements, each of which speaks only as of the date made. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's SEC reports, including the Form 10-K for the year ended December 31, 2015 and the Form 10-Q for the quarter ended March 31, 2016. These risks and uncertainties could cause actual results to differ materially from those currently anticipated or projected.
http://finance.yahoo.com/news/parkervision-closes-3-million-private-120000770.html (http://finance.yahoo.com/news/parkervision-closes-3-million-private-120000770.html)
Jacksonville's ParkerVision gets $2 million cash infusion, files lawsuit in Germany over wireless patent
Jacksonville-based ParkerVision Inc. has seen several developments in recent days that could help counter financial challenges the company is facing with its ongoing lawsuits against other wireless companies for patent infringement.
Most notably, ParkerVision officials said last week that they received a $2 million investment in the company. Meanwhile, ParkerVision announced Monday it has filed a legal challenge against wireless giant LG Electronics in Germany for patent infringement there.
On the financial end, Brickell Key Investments provided the $2 million infusion of cash into ParkerVision. That's on top of $11 million already invested in ParkerVision by the investment firm.
Phone and email messages left with a ParkerVision official Monday seeking comment got no response.
But ParkerVision CEO Jeffrey Parker in a news release said, "We are pleased with Brickell's increased financial commitment as we continue to work towards the goal of achieving recognition of our significant contribution to the wireless industry through our innovative products and technologies."
The investments are essential to keeping ParkerVision afloat as the company has been awash in mounting legal costs due to prolonged legal battles beginning in 2011 over wireless communication technology patents that ParkerVision contends are being infringed upon by multiple companies, most of which are big names in the business.
The U.S. Supreme Court in March denied ParkerVision's request to hear its claim of patent infringement by mobile communications giant Qualcomm. That sent ParkerVision's stock prices plummeting and the company had to institute a reverse stock split later that month to counterbalance sinking stock value.
While the reverse stock split helped ParkerVision's stock price stabilize, there are still many outstanding issues. Single shares for ParkerVision once topped $8. On Monday afternoon, ParkerVision stock was trading about $3.70. It spiked to nearly $4 a share on Nasdaq about 10 a.m. after the company announced it was filing a legal complaint against LG in Germany.
That lawsuit filed against LG in the Munich (Germany) Regional Court "seeks injunctive relief and damages for infringing devices being offered, brought to market, used or introduced in Germany."
ParkerVision on Dec. 15 filed a complaint with the U.S. International Trade Commission saying that "several companies have engaged in unfair trade practices by unlawfully importing into the U.S. and selling various products that infringe four of ParkerVision's U.S. patents."
The companies included Apple Inc. and LG Electronics Inc. in the legal dispute it has been waging over the patents.
Beyond those cases, ParkerVision has other active lawsuits. Samsung, HTC Corp. and subsidiaries for both of those companies are named in federal complaints revised in 2014 and filed by ParkerVision in the U.S. District Court in the Middle District of Florida.
Parker said in a news release he felt compelled to take the same action in Germany.
"We have reached the point where international legal action is appropriate to defend our intellectual property rights abroad in order to protect the investment our shareholders have made in our patented assets," Parker said.
The company is still losing money, though, as much of its financial woes have been placed on the ongoing legal disputes and costs associated with those court fights.
Still, ParkerVision's financial report for the first quarter of 2016 showed at least some signs the financial spiral is slowing. The first three months of the year of trading for ParkerVision saw a net loss of $5.1 million. That's down from the same time period of 2015 when the company reported a $5.8-million net loss, according to ParkerVision figures.
http://jacksonville.com/news/metro/2016-06-06/story/jackonvilles-parkervision-gets-2-million-cash-infusion-files-lawsuit (http://jacksonville.com/news/metro/2016-06-06/story/jackonvilles-parkervision-gets-2-million-cash-infusion-files-lawsuit)
I read this when it first happened.
Parker has been funding their legal effort by offering stock in their company to their legal team. This works as long as your legal team has strong level of confidence they will prevail.
What was different for the LG suit is the legal team required Parker directors to put up some of their own cash as part of the stock/legal services deal.
In typical fashion, PV announced these activities just before their quarterly reports.
Allowing a stock bump on the PR, increasing the value for the legal deal and once the shorts get ahold of it, the stock falls back down to its bottom after yet another "no revenue" announcement.
You can maintain this as long as you have stock to offer and lawyers who think they can win.
If they start losing these suits to Samsung, LG, Apple and others, well, you get the picture.
They have a pretty expensive IP legal team, but there are many IP specialists who value PV's patents as worthless and just above bogus.
Its a weird situation that will probably end when one of the firms getting sued gets tired of the mosquito biting the ankle and buys them out to make them go away. (Forever)
Well ParkerVision announced a patent cross license agreement with Samsung today.
The stock is soaring today in response.
This pretty much goes against the naysayers who said it was worthless. I guess the IP legal team must be pretty darn good.
Quote from: spuwho on July 18, 2016, 10:21:39 AM
Well ParkerVision announced a patent cross license agreement with Samsung today.
The stock is soaring today in response.
This pretty much goes against the naysayers who said it was worthless. I guess the IP legal team must be pretty darn good.
Did you happen to be a 'believer' and purchase while the stock was in the doldrums, enjoy a much needed rebound from an earlier purchase or just enjoying the view from the sidelines? ;)
I ask because you seem to have followed this for quite some time.
Quote from: Non-RedNeck Westsider on July 18, 2016, 10:26:56 AM
Quote from: spuwho on July 18, 2016, 10:21:39 AM
Well ParkerVision announced a patent cross license agreement with Samsung today.
The stock is soaring today in response.
This pretty much goes against the naysayers who said it was worthless. I guess the IP legal team must be pretty darn good.
Did you happen to be a 'believer' and purchase while the stock was in the doldrums, enjoy a much needed rebound from an earlier purchase or just enjoying the view from the sidelines? ;)
I ask because you seem to have followed this for quite some time.
I do not own, nor have ever owned any stock, securities or mutual funds with investments in ParkerVision.
While I found some of their earlier work in sideband RF modulation schemes to improve the range of WiFi signals (what they call D2D) pretty interesting, and used to own the actual equipment, I find them a bit odd in how they have managed themselves.
Their long term manipulation of the securities reporting services to gain advantages for their next stock sale is troubling and makes me want to avoid them.
I update here because I live here, I have met PV employees, surprised at their unwavering belief in what they (havent) created. But yet read a great deal of negative material on their work.
Hence the title of the thread "mystery".