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  • Odyssey Marine: SS Central America Legal Win Expected [View article]
    NJTGK, No. The recent motions are just CADG's lawyer making the expected arguments. The judge has made it known that she intends to deal with this quickly. As noted earlier, RLP wins regardless, so none of this matters. CADG knows this too, so it seems that they are likely going through this process not in an effort to win, but to try to add uncertainty to OMEX's business.

    If the shorts are behind this, it could raise some legal questions. I'm wondering if the judge can compel CADG's lawyers to specify who is paying them. Will be interesting to follow.
    May 16 06:45 PM | 1 Like Like |Link to Comment
  • Odyssey Marine: SS Central America Legal Win Expected [View article]
    Robol's M.O. seems to be to try and delay and stall at every opportunity. I'm wondering if that isn't his intent here too. He knows he doesn't have a chance of winning, but he can try and delay and complicate OMEX's recovery. The strategy would make a lot of sense, especially if the shorts were behind it. However, it looks like the judge is onto the whole scheme and won't tolerate it.

    A couple people asked me today if the Explorer came into port a day or two early because of the legal proceedings. I don't think that would make much sense at all. The judge just gave omex the free and clear to operate a few days ago. Since then, the only docs filed were omex's letter to the US Marshal on handling the material brought up, and a memo from RLP's attorney's supporting the motion to substitute.
    May 14 08:49 PM | 1 Like Like |Link to Comment
  • Odyssey Marine: SS Central America Legal Win Expected [View article]
    LOL. Love the commentary, Tincup. Just want to make sure I make the invite list to your first shindig on the Cote d'Azur.
    May 14 01:41 PM | Likes Like |Link to Comment
  • Odyssey Marine: SS Central America Legal Win Expected [View article]
    Hey idrink, it's a mystery to us all. The official word from SA is that it's due to Yahoo's secret algorithm. I know, it sounds like a cop-out to me too. People have also raised the issue that SA is quick to erase messages that criticize shorts, but not so quick to do the same for longs. I take the viewpoint that the market's pretty efficient, and will work around SA/Yahoo playing favorites. But I agree, it is kinda frustrating.
    May 14 07:55 AM | Likes Like |Link to Comment
  • Odyssey Marine: SS Central America Legal Win Expected [View article]
    Thanks, mykie.

    Meson is persistent, but I think that their diligence is lacking. Just look at all of the examples in his numerous articles where he has been flat out wrong.

    Some people will see this downturn as a minor victory for him, and I can understand that perspective. However, I think that anyone with an excel spreadsheet knew the company would get low on cash by midyear absent some deals. Odyssey isn't nearly as low as Meson implied, but that's not a surprise to the market either. So, I'm a little surprised at the market's reaction. Management will get a couple other deals done and will bring up quite a bit of gold from the SS CA, and both of these will happen fairly soon, so we can expect a rebound before long.

    Thx again for the comment.
    May 14 07:48 AM | 1 Like Like |Link to Comment
  • Odyssey Marine: SS Central America Legal Win Expected [View article]
    Thanks, Tincup. Gold on the deck and on the balance sheet will allow investors to focus on some of the longer-term opportunities in front of Odyssey. Sounds like SS CA is progressing well, so we should get answers soon.
    May 13 09:41 AM | Likes Like |Link to Comment
  • Odyssey Marine: SS Central America Legal Win Expected [View article]
    Appreciate it, Cliff. Luckily I had a smart lawyer helping me with some of these issues. Thanks for the comment.
    May 12 01:23 PM | 1 Like Like |Link to Comment
  • Odyssey Marine: SS Central America Legal Win Expected [View article]
    Thanks, Antelope. Yes, Odyssey's position doesn't appear to face a real threat here. But I'm not sure that CADG can win anything in any circumstance. The admiralty court is likely to rule to either substitute RLP for CADG in the original arrest, or to rule that CADG abandoned the SSCA and therefore the new arrest with RLP as plaintiff is valid. Either way OMEX is in good shape.

    In the unlikely event the admiralty judge denies the motion to substitute and allows the old arrest to stand (despite what she has already said regarding abandonment) then CADG has the rights. I believe that the Admiralty court has jurisdiction over determining who is the plaintiff in the arrest, but when it comes to the civil matter over ownership rights around CADG and RLP the decision still resides in the Ohio courts and they have already ruled. So CADG would (in this extreme circumstance) be the lawful salvor but RLP would, in effect, control CADG and its rights.

    It's confusing enough to give me a headache, but I think it's right. At least that's the way the lawyer I consulted explained it.

    Thanks again for the comment.
    May 12 09:31 AM | 2 Likes Like |Link to Comment
  • Odyssey Marine: SS Central America Legal Win Expected [View article]
    Additional note: I was incorrect in saying that Odyssey would be "out of luck" if Judge Smith ruled to keep CADG as plaintiff/salvor in the SS CA. As spelled out in the final bullet point in that section, if she did rule for CADG, the matter of CADG's ownership would still revert to Ohio's state court where RLP has been ruled as the true owner of CADG's rights. Thus, even in this extreme circumstance, RLP would still act for CADG and OMEX would remain salvor.
    May 12 08:38 AM | 4 Likes Like |Link to Comment
  • No Secret Army Gold On The SS Central America, Short Sale Profits To Go To Charity [View article]
    Thompson struggled to recover most of the commercial gold in his salvage attempts (he could see some but not get to it). He didn't have the high-powered equipment that's available today, and this slowed his efforts quite a bit (as did the fact that he painstakingly and manually recorded many details of the salvage). As the Receiver noted, he was only able to explore 5% of the site in any detail. There was so much gold in one spot, and it was on the surface, that he spent all of his time there.

    The people with whom I've spoken do not believe that Thompson or anyone else went back to salvage the SS CA. Some have said it would have been impossible for someone to pull this off undetected. None of us know what the real story is, but we'll begin to find out in a few weeks.
    Apr 3 03:12 PM | 1 Like Like |Link to Comment
  • Due Diligence On Odyssey's "Oceanica" Project Uncovers Numerous Undisclosed Risks [View article]
    I think you answered your own question.
    Apr 3 12:42 PM | 1 Like Like |Link to Comment
  • Neonode Is A Strong Buy: Invest In Groundbreaking Patented Technology For Just $5 A Share [View article]
    Ok Richard. We'll agree to disagree. I see it much differently. Time will tell.
    Apr 3 11:45 AM | Likes Like |Link to Comment
  • Neonode Is A Strong Buy: Invest In Groundbreaking Patented Technology For Just $5 A Share [View article]
    Richard,
    Applying your logic, any patent owned by a company producing little revenue is worthless. This seems to be a bit of a stretch. Many companies own a core, patented technology that they take years to develop and commercialize before realizing significant sales.

    “Nobody is violating any Neonode's IP. The proof: Neonode has not sued anybody.” Applying your logic, again, would mean that no one is violating anyone’s IP anywhere (outside current IP litigation). This just doesn’t make any sense whatsoever.

    You say, “Yes, infrared touch is currently a popular option for large touchscreens.” But I disagree. I don’t find evidence of widespread adoption of infrared in large touchscreens. Maybe you’re referring to ultra-large screens – TV sized? A couple Asian manufacturers tried to gain traction in the PC world but had expensive solutions. Flatfrog uses a very expensive technology and was best suited to very large screens last I heard.

    I guess your thesis on the HP guy is that he gave a vendor with a faulty solution a big contract and then jumped ship for that vendor to earn a big pay day for the contract he had awarded. Yet, it seems unlikely that a guy who served at HP for 33 years would risk his legacy, reputation, and retirement to leave for a “one hit wonder.” This idea doesn’t sound at all consistent with his track record. Further, he hasn’t exactly disappeared into the woodwork at Neonode to count his coins, he’s taking a very active and public role, even speaking at investor events. Why would he do that if he thought the technology was inferior? It seems a lot more reasonable to believe that he saw a great opportunity in a technology that could make significant inroads in the PC market.

    Unipixel was and is worthy of caution, but that firm had more hurdles to overcome than Neonode. Neonode’s technology has been successfully commercialized in more than 20mn devices – we’re not waiting around to see if it will work. The wins at HP, Nvidia, the new hires, the Win 8 certification – these are all significant. Samsung, LG, and Amazon may be significant too, I don’t know. It all comes down to revenue generation. Historically they’ve fallen short of expectations that were fueled by announcements that went nowhere. There’s more beef this time as we have printers, ereaders, children’s tablets, and auto consoles on the market. If the company successfully adds PCs to the flywheel toward the end of this year or perhaps next year, it will help the market realize the technology is for real.
    Apr 3 11:02 AM | 1 Like Like |Link to Comment
  • Due Diligence On Odyssey's "Oceanica" Project Uncovers Numerous Undisclosed Risks [View article]
    An interesting news story from Namibia. The government there has done a U Turn on phosphate mining. See this link for details: http://bit.ly/1kuTGJw

    It sounds like the ministry in Namibia has had a change of heart, "The environmental assessment will enable the ministry to develop an environmental management plan for sustainable co-existence of marine phosphate mining and fisheries, which is a first of its kind and will have global implications."

    The first environmental application to mine phosphates off the coast of Namibia had no scientific field-work behind it and this is cited as the chief reason for the initial failure. This is quite different from Oceanica and Chatham Rock who have each spent millions of dollars to support their environmental position. Also, the Namibian venture would infringe on some fish hatcheries - neither Oceanica nor Chatham face that battle.
    Apr 3 09:21 AM | Likes Like |Link to Comment
  • Odyssey Marine Exploration And The SS Central America [View instapost]
    An interesting news story from Namibia. The government there has done a U Turn on phosphate mining. See this link for details: http://bit.ly/1kuTGJw

    It sounds like the ministry in Namibia has had a change of heart, "The environmental assessment will enable the ministry to develop an environmental management plan for sustainable co-existence of marine phosphate mining and fisheries, which is a first of its kind and will have global implications."

    The first environmental application to mine phosphates off the coast of Namibia had no scientific field-work behind it and this is cited as the chief reason for the initial failure. This is quite different from Oceanica and Chatham Rock who have each spent millions of dollars to support their environmental position. Also, the Namibian venture would infringe on some fish hatcheries - neither Oceanica nor Chatham face that battle.
    Apr 3 09:15 AM | Likes Like |Link to Comment
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