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Lou Basenese  

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  • The Disturbing Truth About Silver's Rally [View article]
    No disinformation here. The crux of my argument is simply this - rampant speculation is driving prices higher. It can change on a whim, so I wouldn't be buying silver at these overheated levels. Profit-taking by speculators (not hardcore PM investors) is bound to kick as silver reaches record prices (in nominal terms).
    Apr 15, 2011. 09:00 AM | 13 Likes Like |Link to Comment
  • Destiny Media's Problem Child [View article]
    I must have missed the memo about using random, unverified social media postings and Google Trends data as legit fundamentals for constructing an investment thesis. Can someone "in-the-know" forward it to me?

    Still making my way through this obvious hit piece. Will provide more concrete feedback shortly.
    Feb 19, 2014. 02:45 PM | 6 Likes Like |Link to Comment
  • Parametric Sound Merger Not Likely To Be Positive For Shareholders [View article]
    It would also be important to note, Paulo, if you ever personally demoed the speaker (i.e.- did actual due diligence.)

    Or is your assertion that "Parametric [only] trades on hope" based soley on internet research?

    As far as "its inexistent business activity" the facts paint a slightly different picture...

    McDonald's, Rite-Aid, Epsilon, Build-a-Bear and now Turtle Beach. All legit companies engaged with PAMT.

    Others are clearly interested, too, as the company had more than 20 NDA's signed - and was involved in 3 co-development projects - prior to the receipt of a strategic proposal.

    Before anyone trades based on Paulo's "info" I recommend you do your own due diligence.
    Aug 6, 2013. 12:15 PM | 6 Likes Like |Link to Comment
  • Caveat Emptor Beckons [View article]
    Ok. I'll humor you and leave MCD off the list. Then there's Fujitsu, Ingram Micro and the 20+ other companies under NDA.

    The fact PAMT hired the number #1 M&A investment banker in the U.S. for deals under $3 billion should be a clue here, too.

    You think they're going to "sign on" if there aren't legit proposals on the table. Or maybe they're getting duped too.

    This is the problem with the internet and SA. Instead of getting their hands dirty, testing the tech, talking with investors, management, outside experts, "analysts" rely on internet searches and others' questionable internet research to piece together flimsy arguments.

    As Reagan liked to say, "Trust, but verify." I've done that. If I'm wrong, I'll take my lumps like a man. Time will tell if I need to.
    Apr 3, 2013. 04:37 PM | 6 Likes Like |Link to Comment
  • Skyworks: Q1 Call Underscores Need To Acquire Resonant [View article]
    A few points - at the time of the IPO, the technology was not as far down the development curve as it is now. Getting through Milestone 3 was the key technology risk. No reason for SWKS to buy before that.

    As far as my qualifications, I worked at Morgan Stanley before I started providing independent research (you can read my bio). I will readily admit I'm a generalist first. Then, I specialize when the opportunity warrants it.

    In terms of Resonant, I spent close to 2 yrs tracking it's progress and over 100 hours of research, including reading every single patent, contacting industry experts, management, institutional investors, etc.

    All that work led me to invest in both RESN and SWKS and write a 23-page report on RESN for my clients.

    I agree there are risks involved. But I believe the potential rewards outweigh them. As I said in my article, I'm long and have not sold a single share. If RESN fails, I'll own it.
    Jan 29, 2015. 02:25 PM | 5 Likes Like |Link to Comment
  • Parametric Sound Merger Not Likely To Be Positive For Shareholders [View article]
    Full rebuttal coming. But Paulo, PLEASE focus on facts, instead of trying to mislead people...

    You said, "Gaming headsets, and headsets in general, are deeply competitive."

    Yet you fail to mention that Turtle Beach commands more than 50% market share in video game market, according to the NPD Group.

    So they clearly boost competitive (and sustainable) advantages over every other competitor. That's kind of a major point when considering valuation multiples. TB is anything but an also-ran.
    Aug 6, 2013. 11:47 AM | 5 Likes Like |Link to Comment
  • 3 Companies More Innovative Than Apple [View article]
    The purpose of this article was to encourage investors to look at innovation in a new, more quantifiable way. It's not an effort to buttress a short case against Apple. Nor am I "shilling" for any hedge funds or others with Apple shorts.

    I agree with everyone that novelty is not enough. As investors, patents must be novel AND commercially relevant. If the company can't translate the technology into meaningful profits it's worthless to us.

    But since patents are indeed a precursor to products, we'd be foolish not to pay attention to them. It can only increase our investment intelligence.

    The metrics presented begin to develop a sense of the quality of patents.

    Again, this is merely to encourage a discussion to think more specifically about patents. And I'm confident time will validate such an endeavor.
    Jan 15, 2013. 08:44 AM | 5 Likes Like |Link to Comment
  • Skyworks: Q1 Call Underscores Need To Acquire Resonant [View article]
    Fair enough. For clarity's sake, UNXL was a name we traded 3 times. The first two for 100%+ gains. The last trade was a smaller, speculative call option position that expired worthless in July 2014. I would not consider the stock again, until it starts generating revenue. I believe the partnership with Kodak increases the likelihood of that happening.

    IWSY was a position entered at $0.80 and as I advised in the most recent articles, one that should be exited on a drop below $2.

    As for SSNI and ITRI, I noted how the companies' IP portfolios naturally made them takeover targets. But since investing based only upon IP prompting a takeover is speculative, I rec'd a limited downside option, which will result in losses barring an announcement in the coming weeks.

    Rest assured, I'm not going to simply tout my winners and run from my losers.

    And while only some of my research is published on SA, none of your research is, so we have no ability to assess how well or poorly any of your ideas may have performed.
    Feb 2, 2015. 08:43 AM | 4 Likes Like |Link to Comment
  • Skyworks: The Explosive Growth Catalyst Management Can't Talk About [View article]
    One could make that argument. But for SWKS, the IPO was a low-risk way to have someone else pay for the development of the tech. Why pay for a tech that's unproven when you can wait until it's 100% proven? If it works, there's more than enough margin and market opportunity for SWKS to earn back a higher purchase price many times over. Incidentally, I do believe SWKS ultimately tries to buy RESN if the tech is proven.

    I get the AAPL-GTAT comparison, but it's apples to oranges. GTAT ran a biz that required massive spending and holding inventory. RESN is capital light, isn't producing inventory and has ~ 2 yrs cash.
    Nov 11, 2014. 10:44 PM | 4 Likes Like |Link to Comment
  • ImageWare Systems: -86% Downside, Strong Sell, Smart Money Eager To Sell At $1.05 [View article]
    Here's my response, or should I say rebuttal to the short attack I predicted:

    Submitted it to SA last night as well, but it's still in the queue.

    Always do your own due diligence
    Sep 10, 2014. 08:01 AM | 4 Likes Like |Link to Comment
  • Caveat Emptor Beckons [View article]
    Not familiar with those Tobin Smith stocks. I agree with you, he's reprehensible. How he's still on Fox is a crime.

    However, I can attest to the existence of actual technology for UNXL and PAMT and CRDS. So can the blue-chip partners they've announced, which obviously didn't join forces without seeing and testing the technology.

    But let's not go there. There's enough back and forth about these companies on SA. The market will decide and prove once and for all who is right.

    Good luck to you!
    Apr 3, 2013. 04:18 PM | 4 Likes Like |Link to Comment
  • Skyworks: Q1 Call Underscores Need To Acquire Resonant [View article]
    As I said before, I'm a generalist. No formal tech or legal background, which is why I spend so much time seeking out experts related to each opportunity to fill in the knowledge gaps. I believe 7 years worth of reading patents and following IP-related opportunities has provided a fair amount of on the job training. But I'm always learning more.

    And I cover plenty of other revenue generating tech co's - DDD, FARO, APPL, AMZN, SWKS, GOOG, FB, TWTR, RENT, etc. There's just no need to publish on them here b/c so many other people do. I focus on the disruptive, pre-rev tech companies b/c they're one of the last areas of inefficiency in the market. I say that after spending 3 years researching, doing performance attribution, dissecting buy/sell disciplines, speaking with leading PM's across all asset classes while at Morgan. Obviously, the disruptive tech companies are smaller and much more risky. But it's a matter of assessing the larger growth tech trends and then identifying the individual companies with strong IP and prospects of benefiting from the trend most (top down, bottom up).

    Again, while I don't have a traditional Wall Street pedigree, I'm more than happy to let my work speak for itself. I'm definitely not going to be right all the time.
    Jan 30, 2015. 07:28 AM | 3 Likes Like |Link to Comment
  • Skyworks: The Explosive Growth Catalyst Management Can't Talk About [View article]
    RESN business model is to charge a royalty per unit, based on the enabled margin, which is approx. $0.34 (slide 10

    Based on my research, a standard royalty percentage would be 15% - 25%. It's safe to assume SWKS got a preferred rate for being an early adopter.

    Per the S-1, the rate is already set: "Skyworks has an option to license our duplexer design at already agreed-upon royalty rates upon completion."
    Nov 13, 2014. 06:11 PM | 3 Likes Like |Link to Comment
  • Skyworks: The Explosive Growth Catalyst Management Can't Talk About [View article]
    Thanks, Alpine. A little clarification. The IP isn't being co-developed. RESN has developed it all and retains all rights, per the development agreement. They currently have 20 patent grants and 20 apps with more applications in process. The only way SWKS would be taking it around is in a design, which would mean RESN has officially commercialized the tech.

    Regarding Intel, I've done a patent search and analysis. RESN is using a completely unique approach. To date, no other company is doing anything similar. All other RF designs rely on the “acoustic wave ladder” approach, which came about in the 1930's.

    As for RESN's stock price, it's a development stage company. As such, share prices tend to be driven by milestones more than anything else. Instead of taking the risk, I believe some investors are wtg for the fourth milestone to be completed.

    And I like your idea of INTC buying SWKS... after SWKS buys RESN, of course. :-)
    Nov 12, 2014. 07:31 AM | 3 Likes Like |Link to Comment
  • Park City Group: Latest Article By Disruptive Tech Research Fails To Refute Short Thesis [View article]
    The complete exercise price is $450k. See section 2.c here:

    Consolidating too early would remove incentive for Leavitt to leverage relationships etc. for ReposiTrak. I believe ReposiTrak will consolidate w/in the next 12-18 mos.

    Subscriptions are paid annually. If 2,000 ReposiTrak customers are onboarded by mid-2015, per management's guidance, with an average of 1.3 facilities and only 1 connection, that's over $3.25 million in cash receipts. Two connections is ~$6.5m, three connections is ~$9.6m.

    As Kitesurfer points out, no need to go back and forth endlessly on areas of disagreement. Stock price over time will settle for us.
    Oct 17, 2014. 07:37 AM | 3 Likes Like |Link to Comment