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Benjamin Padnos  

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  • Partner Expansion, Competitor Financing Speculation, New Price Targets Make Energous Look Cheap [View article]
    I believe the following:
    1) Energous's "tier one" partner is Apple;
    2) The company's recently-expanded licensing and development agreement is essentially a "first look" for the partner to buy Energous;
    3) That the initial $500k is just the tip of the iceberg on payments WATT receives from its partner;
    4) With the partner now driving the FCC/regulatory process, the likelihood of approval is near certain;
    5) That Energous, with 125+ U.S. patent applications and foreign equivalents, has a stronghold on the intellectual property in this space;
    6) That uBeam's ultrasound-based solution only works in the line of "line of site," which is a vastly inferior to WattUp, which is a more "reflective" WiFi-based technology; and
    7) uBeam is years behind Energous with respect to commercial viability.
    May 22, 2015. 09:24 PM | 4 Likes Like |Link to Comment
  • Partner Expansion, Competitor Financing Speculation, New Price Targets Make Energous Look Cheap [View article]
    Your concerns are valid. I write what I believe will happen, but include mention of the stock's "high risk" nature and disclosure of numerous risk factors. The facts are that uBeam is ~2 years behind Energous and is rumored to be raising money at 5x WATT's the valuation. National Securities ($28), ROTH Capital Partners ($16), and Oppenheimer ($13), all have detailed research and price targets significantly higher than today's ~$8. A take-out before another round is, in fact, possible, but if they do a secondary, I think it'll be at a higher price than today. Time will tell! Thanks for reading and commenting.
    May 22, 2015. 12:31 PM | Likes Like |Link to Comment
  • Resonant: Be Greedy When Others Are Fearful Following Dramatic Selloff [View article]
    I am absolutely not compensated by MDB in any way, and have very sincere motives when I publish on Seeking Alpha. I write publicly under my own name, disclose my positions, and do a tremendous amount of work leading up to my articles.

    I have participated in numerous MDB-banked deals (both bridge/"Series A" rounds as well as IPOs) and it's been a profitable strategy for the past several years. This recent development at RESN is a bump in the road and comes with the territory of early-stage "public venture capital" investing. Furthermore, hindsight is 20/20; I obviously should have sold all of my RESN back in February in the teens and bought back today at ~$5, but I don't trade these stocks, I hold them for extensive periods of time. I think my conviction will be well rewarded in the long run.
    Apr 6, 2015. 10:13 AM | 1 Like Like |Link to Comment
  • Resonant: Be Greedy When Others Are Fearful Following Dramatic Selloff [View article]
    I believe there were approximately 950k shares short as of 3/31/15 with a float in the 4-4.5 million share range.
    Apr 6, 2015. 09:21 AM | Likes Like |Link to Comment
  • What's Up With Energous After First Development, Licensing Agreement Announcements? [View article]
    I think companies like Apple, Samsung and the other names on the list I provided have a tremendous amount of experience with the FCC and other regulatory groups, and that they know what they are doing. I believe FCC approval will happen for WattUp, and I think if the "short" thesis is built around that, they're in trouble. There's $10 of downside on WATT shares and pick the $ of upside if the partner is Apple and WattUp becomes the wire-free charging standard in iPhones, iPads and Apple Watches...$40? $65? $90?
    Mar 27, 2015. 12:12 AM | 1 Like Like |Link to Comment
  • What's Up With Energous After First Development, Licensing Agreement Announcements? [View article]
    Hang in there, @22thoroughbred, don't let the bashers shake your conviction and feel free to reach out to me privately anytime. I've purchased shares pre-IPO, at the IPO, and at the secondary in December, and this is one of the most exciting companies I've been around in my 20+ year career in early-stage technology! Institutions and other professional investors are taking notice -- this new development and licensing deal provides a tremendous amount of credibility to the story. I think this one's just the first of several deals they'll announce in 2015.
    Mar 26, 2015. 12:20 PM | 1 Like Like |Link to Comment
  • Resonant: Be Greedy When Others Are Fearful Following Dramatic Selloff [View article]
    I've been in and around early-stage technology companies for my entire career. I was a co-founder of my first company in 1994, worked in the early days of YHOO (1997-2001), and have been an entrepreneur and active investor ever since. I invested solely in "private," venture-stage companies, but grew tired of the illiquidity and binary nature of results (almost always a "zero," with the occasional "home run"). I got turned on to "public venture capital" and am a fan of the "optionality" of liquidity, although people who know me and my investment style know I tend to hold my investments for long periods of time. I am a long-term "investor," and enjoy writing about some of my portfolio companies and my investment theses. I believe in transparency, and always write under my own name (no alias) and disclose my positions.

    I have made a series of investments in both MDB Capital-banked deals as well as companies with no affiliation to MDB whatsoever. MDB deals are high-quality, with veteran management teams and Boards, strong IP strategies supporting technology aiming to "disrupt" massive markets, and low entry-points, especially when compared to some of the mind-boggling valuations in the private space. I typically invest pre-IPO and "double down" at the IPO, again, holding my positions for long periods of time (typically measured in years, rather than days or months).

    The strategy has been working for me, and my returns thus far have outperformed any traditional VC fund I know. I intend to continue investing and sharing my ideas with the Seeking Alpha community.
    Mar 26, 2015. 09:21 AM | 4 Likes Like |Link to Comment
  • Resonant: Be Greedy When Others Are Fearful Following Dramatic Selloff [View article]
    I'm truly sorry you've lost money on your Resonant investment. I think you'll be rewarded if you have the stomach to hold your shares for the next 12-24 months. Good luck to you!
    Mar 25, 2015. 09:30 PM | Likes Like |Link to Comment
  • Resonant: Be Greedy When Others Are Fearful Following Dramatic Selloff [View article]
    @ikarus It would certainly appear that you post a lot of negative comments....hiding anonymously behind an alias.
    Mar 25, 2015. 09:28 PM | 1 Like Like |Link to Comment
  • Resonant: Be Greedy When Others Are Fearful Following Dramatic Selloff [View article]
    @trader mark - I think you're mistaking -- or at least mischaracterizing -- my enthusiasm around the opportunity with Resonant as "pumping." The short attack was clearly coordinated and they pulled off a very successful trade.

    There is now a detailed public record with my opinion on Resonant -- again, published under my own name and not anonymously -- and we can watch over in the coming quarters. I believe the longs will be proven right in the long-term. Time will tell.
    Mar 25, 2015. 09:25 PM | 3 Likes Like |Link to Comment
  • Resonant: Be Greedy When Others Are Fearful Following Dramatic Selloff [View article]
    @dancingmonkeys - very fair question.

    I have stakes in a basket of four MDB-banked IPOs including CLIR, IPWR, RESN and WATT. I publish under my own name -- not anonymously -- disclose my long positions, and am not compensated in any way by MDB Capital.
    Mar 25, 2015. 09:18 PM | Likes Like |Link to Comment
  • Energous: More Reasons To Be Dubious [View article]
    Energous aims to solve a pain that virtually every person on the planet deals with on a daily basis – the panic of running out of battery. It represents, for the first time, a company that can truly deliver on the promise of wire-free power. We’re talking about significant charging power, from a distance, with full mobility, all under software control.

    Blogger primarily disparages Energous because it was banked by same firm who underwrote Uni-Pixel (UNXL). Ironically, MDB Capital is getting credit for UNXL's huge rise when it was Craig-Hallum that really deserves the credit. MDB underwrote Uni-Pixel's up-listing from OTC to Nasdaq in December 2010 at around $5/share. The stock didn't do anything for years. Then, in August 2012, Craig-Hallum led a secondary and the road show generated a ton of institutional interest. Shortly after the financing, UNXL shares began to run, with institutions such as Wellington and Fidelity building positions. The stock closed 2012 at nearly $17, and ran to a high in the low $40s in April 2013 as various analysts put huge price targets on the stock. Williams Financial had a $60 price target on it, and there were others.

    Net-net, MDB is getting credit it doesn't deserve, both on the rise as well as the fall. That said, neither Craig-Hallum, nor MDB is responsible for UNXL management team's under-performance, nor were they involved in management straying from the original "licensing" model and getting into manufacturing. (Energous will be exclusively a "licensing" company, generating royalties every time WattUp technology is embedded into its customers’ products.) WATT is not UNXL and a blanket dismissal is unreasonable and inconsistent with these facts:

    1) Energous has a development and licensing agreement with a “tier one consumer electronics company”.

    2) Its CEO, Steve Rizzone, has had 8 exits in his previous 8 CEO opportunities, which have generated nearly $5 billion in shareholder appreciation.

    3) The company has 15 other JDA partnerships including Foxconn (Apple’s #1 supplier), Dialog Semiconductor, SK Telesys, HEXBUG, a "Tier 1 Asia-based branded global electronics company," "a multi-billion dollar Tier 1, global semiconductor company," and various others.

    4) Energous has more than 125 patents filed to date.

    5) Won numerous "Best of CES" awards including two "Best of CES 2015" awards from Engadget: Best Innovation (Disruptive Tech) and Best (Connected) Home Product. Watch the CES demo video here: http://bit.ly/1HwCIWi

    6) Has raised over $50 million of capital between May 2013 bridge, March 2014 IPO and December 2014 secondary to capitalize on the market potential

    7) Research coverage initiated on March 19 by Oppenheimer & Co. with “Outperform” rating.

    Disclosure: Long WATT shares and have been following the story closely for more than 2 years.
    Mar 25, 2015. 02:37 PM | 1 Like Like |Link to Comment
  • Energous: More Reasons To Be Dubious [View article]
    Note this is the second negative article on Energous from the same author in approximately 24 hours. Seems pretty “dubious” to me!

    Energous aims to solve a pain that virtually every person on the planet deals with on a daily basis – the panic of running out of battery. It represents, for the first time, a company that can truly deliver on the promise of wire-free power. We’re talking about significant charging power, from a distance, with full mobility, all under software control.

    Author appears to have done minimal due diligence on the company prior to writing. He primarily disparages Energous because it was banked by same firm who underwrote Uni-Pixel (UNXL). Ironically, MDB Capital is getting credit for UNXL's huge rise when it was Craig-Hallum that really deserves the credit. MDB underwrote Uni-Pixel's up-listing from OTC to Nasdaq in December 2010 at around $5/share. The stock didn't do anything for years. Then, in August 2012, Craig-Hallum led a secondary and the road show generated a ton of institutional interest. Shortly after the financing, UNXL shares began to run, with institutions such as Wellington and Fidelity building positions. The stock closed 2012 at nearly $17, and ran to a high in the low $40s in April 2013 as various analysts put huge price targets on the stock. Williams Financial had a $60 price target on it, and there were others.

    Net-net, MDB is getting credit it doesn't deserve, both on the rise as well as the fall. That said, neither Craig-Hallum, nor MDB is responsible for UNXL management team's under-performance, nor were they involved in management straying from the original "licensing" model and getting into manufacturing. (Energous will be exclusively a "licensing" company, generating royalties every time WattUp technology is embedded into its customers’ products.) WATT is not UNXL and a blanket dismissal is unreasonable and inconsistent with these facts:

    1) Energous has a development and licensing agreement with a “tier one consumer electronics company”.

    2) Its CEO, Steve Rizzone, has had 8 exits in his previous 8 CEO opportunities, which have generated nearly $5 billion in shareholder appreciation.

    3) The company has 15 other JDA partnerships including Foxconn (Apple’s #1 supplier), Dialog Semiconductor, SK Telesys, HEXBUG, a "Tier 1 Asia-based branded global electronics company," "a multi-billion dollar Tier 1, global semiconductor company," and various others.

    4) Energous has more than 125 patents filed to date.

    5) Won numerous "Best of CES" awards including two "Best of CES 2015" awards from Engadget: Best Innovation (Disruptive Tech) and Best (Connected) Home Product. Watch the CES demo video here: http://bit.ly/1HwCIWi

    6) Has raised over $50 million of capital between May 2013 bridge, March 2014 IPO and December 2014 secondary to capitalize on the market potential

    7) Research coverage initiated on March 19 by Oppenheimer & Co. with “Outperform” rating.

    Disclosure: Long WATT shares and have been following the story closely for more than 2 years.
    Mar 25, 2015. 02:12 PM | 3 Likes Like |Link to Comment
  • Energous: We Have Seen This Story Before [View article]
    "There is no market for such a mundane technology" -- Except 6 billion of the 7 billion people on the planet have access to mobile phones that are constantly running out of battery.
    Mar 25, 2015. 11:58 AM | Likes Like |Link to Comment
  • Energous: We Have Seen This Story Before [View article]
    The biggest irony of all, is that MDB Capital is getting credit for UNXL's huge rise when it was Craig-Hallum that really deserves the credit. MDB underwrote Uni-Pixel's up-listing from OTC to Nasdaq in December 2010 at around $5/share. The stock didn't do anything for years.

    Then, in August 2012, Craig-Hallum led a secondary and the road show generated a ton of institutional interest. Shortly after the financing, UNXL shares began to run, with institutions such as Wellington and Fidelity building positions. The stock closed 2012 at nearly $17, and ran to a high in the low $40s in April 2013 as various analysts put huge price targets on the stock. Williams Financial had a $60 price target on it, and there were others.

    Net-net, MDB is getting credit it doesn't deserve, both on the rise as well as the fall.
    Mar 25, 2015. 11:15 AM | Likes Like |Link to Comment
COMMENTS STATS
102 Comments
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