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Archive for April, 2016

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As a follow up to Gerbsman Partners “Date Certain M&A” for the sale of the Assets and Intellectual Property of “Palmaz Scientific“, I have outlined below an ‘estimation of the replacement value for Palmaz Scientific’s IP portfolio’ by David G. Rosenbaum, Esq., IP attorney for Palmaz Scientific.

 

Steve,

Per our discussion earlier today, in my estimation the replacement value of the debtor-in-possession’s IP portfolio as it currently exists would be between $16,000,000 and $19,000,000. The replacement value represents the cost to recreate the IP portfolio from its inception and in its entirety.

To arrive at this estimate, I first estimated the historical monetary cost of the portfolio to the debtors-in-possession since 1999. This was then adjusted annually for consumer price index changes since 1999.

Rosenbaum IP assists in developing intellectual property assets, formulating and executing strategic intellectual asset plans and positioning the IP portfolios to achieve maximal value for our clients. Our clients have realized over $1.6 Billion (USD) in market value from IP portfolios we have developed over the past fifteen years. This represents an almost 4,400% return on the cost of IP portfolio development and has been recognized through financing rounds, merger and acquisition, licensing or litigation awards. To realize this level of success, we combine legal and technical skills with level-headed business experience and principles. Our practice is exclusively devoted to strategic intellectual property asset development, asset commercialization and IP asset risk management.

Please let me know if you need any further information.

David

David G. Rosenbaum

drosenbaum@rosenbaumIP.com

UnknownAbout Gerbsman Partners
Gerbsman Partners focuses on maximizing enterprise value for stakeholders and shareholders in under-performing, under-capitalized and under-valued companies and their Intellectual Property, as well as maximizing value for Intellectual Property Patents. Since 2001, Gerbsman Partners has been involved in maximizing value for 91 technology, medical device, life science, solar, fuel cell, cyber security and digital marketing companies and their Intellectual Property and has restructured/terminated over $810 million of real estate executory contracts and equipment lease/sub-debt obligations. Since inception in 1980, Gerbsman Partners has been involved in over $2.3 billion of financings, restructurings and M&A Transactions.

Gerbsman Partners has offices and strategic alliances in San Francisco, New York, McLean, VA/Washington DC, Orange County, Boston, Europe and Israel.

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“Tatoo Tom” is at it again – a 200 mile run for the support of Childhood Cancer https://www.stillbrave.org/tattoo-tom/

Please read his story – and the story of how his daughter’s Cancer changed his life and how Tatoo Tom became the hero for all Children with Cancer.  Please go the website and donate.  This is one of our family’s favorite charities.  As a Grandfather you pray for the health and happiness of your children and grandchildren.  Tatoo Tom is taking this one step further.  He is our HERO as well.

 

Shayla-“Hey Dad, I haven’t been feeling too well lately, do you think you could take me to the doctors? I think I might have a sinus infection or something.”

shayla“Sure baby, I’ll pick you up after school tomorrow we’ll grab some dinner afterwards if you want.”It turns out my daughter’s sinus infection was anything but; it was actually a huge cancerous tumor that had been taking up two thirds of her little chest. It had caused one of her lungs to collapse.

We did have dinner that night, although neither of us was very hungry, we mostly just pushed our food around our plates in a room on the pediatric oncology unit of Fairfax Hospital. We didn’t know it at the time but we would wind up having our next 450 meals in that hospital as well as hundreds and hundreds of additional meals over the next couple of years.

When the doctors gave me the news that my daughter had stage 4 Hodgkin’s disease I had to dig really deep within my soul. I had to become braver than I ever thought possible… I had to have a really tough conversation with a very scared 16 year old girl. I wound up purchasing two sterling silver “feather” bracelets from an American Indian art store near the hospital, a small feminine bracelet for Shayla and a larger one for myself. I “spread my arms and held my breath” and went in to the room to have a “talk” with a sweet little girl. I talked with her about everything and nothing, I talked with her about the wind and about feathers and I talked with her about cancer. We talked about the word “brave.” We held each other very tight for a very long time. I’m pretty sure we both cried a little and we promised each other that no matter what, we would be brave; together we would get through this.

I gave her the bracelet I had bought for her and I put mine on at the same time, again I talked about the wind and about feathers and how fate had blown the two of us together.

I promised her 3 things

I have kept those promises…

The next couple of years we spent hundreds and hundreds of nights together in the hospital. We spent hundreds and hundreds of hours in the chemotherapy clinic and there was Zofran and Pic lines and Ativan…OH MY! There were “counts” and blood transfusions and radiation and more pain killers and medicines and shortly after the chemo began her poor little heart quit working so they had to install a pacemaker/defibrillator into her chest. I held her hair when she threw up, I held her hand when her hair fell out, and we held each other a lot. We cussed a lot, and we cried a lot but interestingly enough we laughed even more…often we talked about the wind and about feathers and about being brave…

One morning as we were walking to the car on the way to the chemotherapy clinic something happened that rocked me deep in the core of my bones and will probably haunt me for the rest of my days… The pacemaker/defibrillator that they had installed to keep her heart rhythms correct and safe began to malfunction.

It shocked my daughter inappropriately several times as she was screaming “Help me Dad! IT’S SHOCKING ME!!…IT’S SHOCKING ME!!” ….the damn thing was hitting her with powerful jolts of electricity designed to restart someone’s heart if it stops beating…but she was wide awake and her little heart was beating just fine all on its own. I pulled her close and held her as tight as I could. It shocked her AGAIN and nearly blew her out of my arms. But I refused to let go I just held her as tightly as I could and just like that it stopped shocking her as quickly as it had started and we rushed to the hospital. It turns out the manufacturer of this device had to recall thousands of them like brakes on a Chevy…and that’s all I have to say about that!!

So, once again, she and I talked about the wind and about feathers and about being brave… There was to be still more chemotherapy and more blood transfusions and more nights in the hospital and more heart surgeries. There was also a failed bone marrow transplant attempt and yet, in spite of it all, Shayla never quit fighting and she still managed to find time to take pretty damned good care of me…but the day came when the doctors told me there was nothing else they could do. How in the world was I supposed to have this conversation with my darling daughter? How in the world was I going to be brave enough to tell my daughter she was going to die? I once heard a quote that sort of sums things up for me. “Can a man still be brave if he is afraid?… That is the only time he CAN be brave.” I knew I had to be brave for HER! I did of course have that conversation with her, and as unbelievable as this may sound it turned out to be the most amazing, beautiful, magical, wonderful conversation that I’ve ever had in my entire life and one that I hope you NEVER EVER have to have…

“Am I still brave Dad?” she whispered softly in my ear. I placed my hands on her face and looked deep into her eyes; my baby was tired and she had fought so bravely for so long…but she was so very tired… she was still brave alright but as I looked into her eyes I began to realize something: this whole time she hadn’t been staying brave for herself, she had been staying brave for ME!!

A few days later my daughter Shayla lost her battle with childhood cancer. She fought hard and she fought bravely.

Today I rarely talk about the wind…and I NEVER talk about feathers…but I talk a great deal about a little girl I once knew, and about the importance of being brave.

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Verizon to go ahead with bid for Yahoo as Google mulls offer

Yahoo’s sale “book” indicates a company in a financial free fall

What Yahoo investors can look forward to prior to shareholder meeting

As layoffs proceed, Yahoo’s head of hiring bails on CEO Marissa Mayer

Verizon Communications will reportedly make a bid to buy Yahoo’s Web business next week and Google may bid for the Sunnyvale online company’s core business.

Bloomberg cited unnamed sources on those two potential Yahoo suitors. Its sources also said that AT&T, Comcast and Microsoft have decided against bidding.

Bloomberg said that Time Inc. is reportedly still evaluating a bid and private equity funds Bain and TPG — among others — are also planning to enter the action, either alone or by backing a strategic acquirer.

First-round bids for the company’s main Web assets are reportedly due on Monday.

Verizon is said to be willing to acquire the Yahoo’s stake in Yahoo Japan Corp., figured to be worth about $8.5 billion, to help sweeten its offer. It may then give the Yahoo Japan stake to its shareholders or sell it.

Another potential player is Japan’s SoftBank Group, which is the majority owner of Yahoo Japan. But discussions there have reportedly centered around Softbank wanting to get a lower licensing fee before any sale, not in buying the rest of the shares in the company.

Verizon and its subsidiary AOL are working with at least three financial advisers on its bid, Bloomberg’s sources said. The company said late last year that it was interested in bidding for Yahoo and hiring so many bankers makes it appear that it is very serious about that.

Bloomberg’s sources said that Verizon values Yahoo’s core business at less than $8 billion, based on the financial information that it’s seen.

If successful, Verizon reportedly would replace Yahoo CEO Marissa Mayer with AOL CEO Tim Armstrong and Marni Walden, Verizon’s executive vice president, who would run a combined Yahoo and AOL.

Re/code reported on Wednesday that a Yahoo slide deck that has been shown to potential buyers projects that its revenue will drop by almost 15 percent and earnings by more than 20 percent for 2016.

Cromwell Schubarth is TechFlash Editor at the Silicon Valley Business Journal.

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