Nothing Behind ParkerVision's Technology - Barron's

by: Judy Weil

"Once in a while, you stumble across a company with technical claims so outrageously false or stupid," ParkerVision short Mike Farmwald says, "that you feel you have to do something about it." Barron's says Farmwald's bearishness may be well-founded. Over the past 17 years, the wireless radio startup announced two revolutionary wireless discoveries. It also squandered $160 million and never produced a marketable product. Stanford-trained engineers Barb Paldus and her husband Mike Farmwald are short the stock and set up a website, PV Notes, to warn investors about ParkerVision's shady financials, lack of working prototypes and lack of published technical data. ParkerVision's d2d technology for improved wireless radio range attracted respected investors like Leucadia and Oscar Schaefer initially, but promising deals with IBM and PrairieComm fell apart, just as ParkerVision's next generation wireless amplifier's prospects have now. A pending, lone deal with ITT for army radios appears dead, though ParkerVision claims otherwise. Most importantly, PV Notes publicizes what other engineers and companies like RF Micro Devices, Anadigics, STMicroelectronics and Samsung have found after studying ParkerVision's technology: that it's worthless. Over time, ParkerVision's stock has traded as high as $50 and as low as $5; it now sits near $10. Barron's says based on what Paldus and Farmwald say, it may be worth less than that - zero.

Sources: Barron's
Commentary: ParkerVision: Own This Stock By the End of the SummerLeucadia's Ian M. Cumming: Buys, Sells, Portfolio
Stocks to watch: PRKR, LUK, ITT, RFMD, STM
Competitors: ANAD, TXN

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