[Chuck Finley69]

They clearly misled investors, even the Cylance purchase resulted in Chen outright lying to shareholders. Claiming the multiple was no more than 6* revenue, they paid $1.4 Billion all cash (why not stock/cash mix), at about 110M revenue, so he paid almost 12* rev multiple.

Disastrous.

It sounds like you’ve got the makings of a great formal complaint. Have you already filed with the authorities or regulators? If yes, any response? If no, why not?

[dalinxz]

It sounds like you’ve got the makings of a great formal complaint. Have you already filed with the authorities or regulators? If yes, any response? If no, why not?

Let's work towards having a class action certified - https://forums.crackberry.com/bbry-f...tatus-1178756/

The company has been silent far too long, it seems they forgot what the duties of a public company are. To be transparent and not shroud investors in secrecy while they profit based on deceiving shareholders in holding the bag and eventually capitulation by all as they accumulate or transfer assets behind the backs of investors.

[Chuck Finley69]

Let's work towards having a class action certified - https://forums.crackberry.com/bbry-f...tatus-1178756/

The company has been silent far too long, it seems they forgot what the duties of a public company are. To be transparent and not shroud investors in secrecy while they profit based on deceiving shareholders in holding the bag and eventually capitulation by all as they accumulate or transfer assets behind the backs of investors.

File the formal complaint with the regulators. No reason to reinvent the wheel or fire.

[FeitaInc]

What to me seems most tiring is commentary which has no balance or positivity for ANY actions or announcements. While my frustrations with Blackberry are legion, I (and others on this thread) acknowledge positive actions when appropriate while pointing out failure when appropriate, again in lock step with the company disclosures. Simplistic negativity is both inaccurate and largely unhelpful.

The announced CP deal is a small win for the Radar product but also a large vote of confidence for this technology from an iconic Canadian transportation company. I suspect the transportation industry will note this sale with some positivity and will hopefully influence further sales for this product. However, I still believe the magnitude of this product line will never make a significant contribution to Blackberry's earnings and only provides a distraction from the core business. This business would be better served with a transportation supplier than with an enterprise-grade cyber security software company.

A deal is a deal and should never be viewed as a negative, I just wish they would announce more ESS wins in response to it's recent performance challenges. The share price clearly needs some direction from where it's sitting today at close to its historic lows.

I totally get where you are coming from @EchoTango. In fact I tend to agree with you, if I approach it from the angle you presented. On the other hand, if I were to try to come up with an alternate approach, and perhaps think "what would Bezos do?" I might try to make you to reconsider. the reason why I am bringing Bezos into it is that I think BB have done a favourite Amazon play with Radar. "which one?" you might ask, and that is to become their own first and biggest customer of a service they then go out and offer to the broader market.

to restate the above into something slightly more concrete would be to say that I think the BB product coming out of Radar is Spark more so than Radar itself. If you tack on some Cylance and Jarvis to a Radar-type device, before you know it you'll have a very capable secure field gateway for all types of industrial applications. I have zero problems finding some compelling use cases for such a product, especially so in a Product-as-a-service world.

[FeitaInc]

Let's work towards having a class action certified - https://forums.crackberry.com/bbry-f...tatus-1178756/

The company has been silent far too long, it seems they forgot what the duties of a public company are. To be transparent and not shroud investors in secrecy while they profit based on deceiving shareholders in holding the bag and eventually capitulation by all as they accumulate or transfer assets behind the backs of investors.

with all of the pent-up outrage over the case you've been laying out for months and months, that thread must surly be about to catch fire.. after all "hell hath no fury like a BB investor scorned"!

no?

[_dimi_]

Let's work towards having a class action certified - https://forums.crackberry.com/bbry-f...tatus-1178756/

The company has been silent far too long, it seems they forgot what the duties of a public company are. To be transparent and not shroud investors in secrecy while they profit based on deceiving shareholders in holding the bag and eventually capitulation by all as they accumulate or transfer assets behind the backs of investors.

"If we accumulate enough information, I am willing to work towards getting a suit pushed and certified as class action and possibly even act as lead plaintiff for the devastating losses we've endured from the hot trash that is FailBerry."

You're provocative, delusional ánd lazy.... with all the time that you've "invested" in BlackBerry, you're now asking others to contribute/do the work. You could be a manager at BlackBerry.......

[dalinxz]

"If we accumulate enough information, I am willing to work towards getting a suit pushed and certified as class action and possibly even act as lead plaintiff for the devastating losses we've endured from the hot trash that is FailBerry."

You're provocative, delusional ánd lazy.... with all the time that you've "invested" in BlackBerry, you're now asking others to contribute/do the work. You could be a manager at BlackBerry.......

Anyone know if Chen is hiring, he seems to only hire his friends anyways. Doesn't seem like he's interested in anyone that's long the company, he believes in cheap shares and a cheap company.

I may be provocative, delusional, and lazy... but then again I'm making the effort to help investors who have been duped and lost in a time where the markets continue roaring to new all time highs, while this company continues to erode and destruct assets. What are you doing?

Just because you seem to be happy with Chen's incompetence, I'm confident the majority of posters in this thread are frustrated and certainly feel deceived after all the hype about 'stay tuned', 'next quarter', 'tipping point', and countless snake oil that's been pushed by the worst performing management team.

Junk bonds have performed better!!!! Let that sink in!

[FeitaInc]

Anyone know if Chen is hiring, he seems to only hire his friends anyways. Doesn't seem like he's interested in anyone that's long the company, he believes in cheap shares and a cheap company.

I may be provocative, delusional, and lazy... but then again I'm making the effort to help investors who have been duped and lost in a time where the markets continue roaring to new all time highs, while this company continues to erode and destruct assets. What are you doing?

Just because you seem to be happy with Chen's incompetence, I'm confident the majority of posters in this thread are frustrated and certainly feel deceived after all the hype about 'stay tuned', 'next quarter', 'tipping point', and countless snake oil that's been pushed by the worst performing management team.

Junk bonds have performed better!!!! Let that sink in!

if JC only has hired friends, must be kind of awkward when he then turned around fired them.

the ever present silent majority. think perhaps I should join them for a little while.

[dalinxz]

They don't seem overly concerned, then again since all these executives keep getting massive compensation to be fired, what incentive do they have to work.

Same with Chen, he has little incentive, considering he gets paid if fired without cause anyways, easy not to do anything and wait to be fired. Nothing but poison pills, throwing the company into secrecy, as we see dropped earnings, asset fire sales, zero follow on acquisitions, zero execution ability, zero marketing abilities, zero efforts.

Company is a zero, with the continued silence from the company and now investors who have mostly dumped this dog through capitulation, the negative feedback loop is likely to continue and only make the company worse off.

7 years of patting Chen on the back for saving the company when he was in fact given a treasure trove of assets and has only led the erosion of the company. What's left but an illiquid stock traded by algos, a penny stock has more liquidity. 550MM pieces of worthless paper.

[Dunt Dunt Dunt]

if JC only has hired friends, must be kind of awkward when he then turned around fired them.

the ever present silent majority. think perhaps I should join them for a little while.

Based on that interview he just did... sounded more like the folks that didn't agree with his vision just leave, he doesn't have to fire them. But I don't know if he was talking about managers and other executives or about the UEM sales team....

[Dunt Dunt Dunt]

In for a penny, in for a pound... at this point need to give him 6 - 12 months to see what he can do. My view this next Report should be the last one that "could" be a little weak. After that their should be signs that UEM has gotten back on track, QNX is getting their multiples and Cylance is the product to own. And the stock will bounce back....

If Chen's just blowing smoke and at the end of the fiscal year, he's still talking about what should happen.... he needs to go.

[curves2000]

Based on that interview he just did... sounded more like the folks that didn't agree with his vision just leave, he doesn't have to fire them. But I don't know if he was talking about managers and other executives or about the UEM sales team....

Which interview are you referring to? I am hoping to see or read it so I can get some better context.

Posted via CB10

[Corbu]

Which interview are you referring to? I am hoping to see or read it so I can get some better context.

He might be referring to this one:
https://forums.crackberry.com/showth...1#post13465086

[rarsen]

Some people on this site seem to forget that Watsa among others is also exposed to losses in his BB investments, having the merit of putting important sums and not just rambling low credibility talk.


https://seekingalpha.com/article/430...=mw_quote_news

And as for using Motley Fool reference, we are aware of the caveat of the variable credibility among their article contributors, who are individual contributors with doubts of senior editorial checking. But we should all be adults capable of individual review.

[Corbu]

PR

https://www.newswire.ca/news-release...825727731.html
BlackBerry Balances Demand for Productivity and Security with Updated UEM Software Suite

[Seadog83]

They clearly misled investors, even the Cylance purchase resulted in Chen outright lying to shareholders. Claiming the multiple was no more than 6* revenue, they paid $1.4 Billion all cash (why not stock/cash mix), at about 110M revenue, so he paid almost 12* rev multiple.

Disastrous.

This is exactly what I referred to in a previous post about people running with half truths, then exaggerating them, then getting picked up and before you know it there's another Market Watch article. If we're thinking of the same interview, (unless you can show one otherwise), he was specifically asked about getting it for around 7x, then he clarified, that it was actually *less than* 7x *forward earnings*. You just seemed to have arbitrarily rounded down to the next whole number, and ignored the whole forward part, and not only that but decided to look rearward using a starting point as far back as possible. Given that Cylanace has broken $50m/q for it's first two since closing, I'd say that was a technically accurate statement. Just not if you include your made up bits.

But then, even with your own numbers, if it was "almost 12x" (call it 12) when announced, and "less than 7x" (call it 6) on closing, that means revenue must have doubled in just over 3 short months! That equates to 800% annualized growth! See what I did there? When you round every number, and fiddle with timings, and cherry pick data points exclusively to a certain end, you can get some wildly inflated numbers which are wholly meaningless - unless from the get-go your whole purpose was to slander or pump a company and nothing else.

What to me seems most tiring is commentary which has no balance or positivity for ANY actions or announcements. While my frustrations with Blackberry are legion, I (and others on this thread) acknowledge positive actions when appropriate while pointing out failure when appropriate, again in lock step with the company disclosures. Simplistic negativity is both inaccurate and largely unhelpful.

The announced CP deal is a small win for the Radar product but also a large vote of confidence for this technology from an iconic Canadian transportation company. I suspect the transportation industry will note this sale with some positivity and will hopefully influence further sales for this product. However, I still believe the magnitude of this product line will never make a significant contribution to Blackberry's earnings and only provides a distraction from the core business. This business would be better served with a transportation supplier than with an enterprise-grade cyber security software company.

A deal is a deal and should never be viewed as a negative, I just wish they would announce more ESS wins in response to it's recent performance challenges. The share price clearly needs some direction from where it's sitting today at close to its historic lows.

I don't get that either. I'm hardly Chen's biggest cheerleader, and call out overly enthusiastic bull nonsense (like the never ending parroting that Palma stepped down due to medical issues, when it was only 1 minor reporter who said so, even after BB said otherwise, and Palma himself denied it), but it seems like with certain people there is no winning.

"BB cures cancer!" "Oh I thought BB was a software company. NO direction. FIRE Chen."

I mean I guess I'm just tired of entrenched narrative based positions (as a whole not just with BB), then framing everything else around that foundation. Regardless of whether your starting point is "BB is literally the corporatization of Hitler" or "BB is the next Apple", believe in it as strongly as you do gravity, and then showcasing every single tweet or remark in that light is exhausting and unhelpful.

Among that I'm still very curious about that tipping point comment Chen made. We've seen more times than we can count how he doesn't give two shakes about the share price short term, so why make the comment unless he had reason to believe it? A positive comment, in the foreshadow of poor results, when no comment was requested or expected, from a person who is a bad communicator and doesn't make many comments. It just doesn't click. Maybe he knew lawsuits were close to settlement? But the other angel on my shoulder says he did, and those were what was drove the revised IP number. But then Chen doesn't seem like one to count chickens before they hatch.

[Redzinaldas]

https://www.zdnet.com/google-amp/art...y-in-the-game/

Cyber name recognition keeps BlackBerry in the game

[_dimi_]

ZTE Corp.'s and Fundamental Innovation System International LLC’s motions to strike expert testimony in this patent infringement action are denied by a federal district court in Texas. FIS sued ZTE Corp. for infringing its utility patents covering USB technology that enables data communication in wireless devices and charging methods for those devices. ZTE’s seeks to strike portions of the expert report, challenging the expert’s application of the estimated royalty rate to ZTE’s products, but the court finds that ZTE is objecting to the expert’s interpretation of the facts underlying his conclusions and that his testimony should be weighed by the... (requires a subscription)

https://news.bloomberglaw.com/ip-law...idence-n-d-tex

[Corbu]

https://seekingalpha.com/article/430...bid-mobileiron
Why BlackBerry Should Make A Bid On MobileIron

Gio Danisi

[drobbie]

https://seekingalpha.com/article/430...bid-mobileiron
Why BlackBerry Should Make A Bid On MobileIron

Gio Danisi

There is a reason why MobileIron is struggling. No point in throwing money at that. BlackBerry should not buy anything until they can show growth from Cylance acquisition

[Dunt Dunt Dunt]

There is a reason why MobileIron is struggling. No point in throwing money at that. BlackBerry should not buy anything until they can show growth from Cylance acquisition

Agree... I'd rather see them spend $200K on R&D (Cylance or QNX) than buy a company that's struggling, in the same market where they are now struggling. Beside MobileIron would probable take all their remaining cash....

[EchoTango]

There is a reason why MobileIron is struggling. No point in throwing money at that. BlackBerry should not buy anything until they can show growth from Cylance acquisition

It's like buying the neighbor's car that he complains is always in the shop and costing him lots of money......

Yeah, that's the one to buy !

[Dunt Dunt Dunt]

It's like buying the neighbor's car that he complains is always in the shop and costing him lots of money......

Yeah, that's the one to buy !

Good brought some technologies that BES desperately needed... it was a necessary purchase. The additional customerbase was just a bonus. What BlackBerry's missing now isn't UEM specific solutions that MobilIron might have, but a broader set of network security solutions like their bigger competition offer. The small vendors like Mobile and BB have to charge a premium for their stand alone products, the bigger companies can offer more comprehensive packages... at a discount. But more importantly comprehensive packages are less "work" to oversee and maintain.

Something like Cylance expands what BlackBerry offers, and even improves existing products. If they buy anything else it needs to do the same.

[_dimi_]

Off topic... but wow, has anyone seen the Tesla Cybertruck? Can't believe that this model made it past the 'sketching' phase, LOL! Finally we, BlackBerry shareholders, can laugh at someone else.... :-)

[Seadog83]

There is a reason why MobileIron is struggling. No point in throwing money at that. BlackBerry should not buy anything until they can show growth from Cylance acquisition

Couldn't agree more. Other companies get the benefit of the doubt when it comes to investing in money losing tech that will likely have a big payoff a few years down the road. BB does not. Priority #1 needs to be getting to a point where it's at least marginally profitable, and marginally growing, without any GAAP/Non-GAAP games. While I concur one time events don't reflect the true nature of the business, it's something for FUDsters to grasp on to, and you really need to start asking questions when "one time items", largely negative, occur every Q for 24 running. At the same time, such theorizing doesn't extend to the positives like IP wins where the one time nature makes them wholly discounted.

It's funny. Since Chen is so keen on his son/school marks analogy, it's like his son is an 85 student. But then when his marks come and its an 85 average, it gets adjusted. Marks better than 85 get bumped down to 85 since "it's abnormally high, must have been a fluke", yet marks below 85 are indicative of real problems and taken as is. Anything better than expected (IP, QNX growth) gets written off as abnormal and bumped down to the expected. Anything worse than normal (primarily UEM) is the new best case normal.

It's like buying the neighbor's car that he complains is always in the shop and costing him lots of money......

Yeah, that's the one to buy !

It's like doing that, but also while you have a history of drunk driving, and have written off the last 7 cars you've owned. BB seems to have the opposite of the Midas Touch. Cylance was getting calls for a $3B valuation like 2 years ago. BB gets it's hands in it, a year after it's announced, and shown growth, and you have people honestly believing it's now worth less than half what BB paid - Even in light of CRWD/CBLK valuations. Buying MOBL would be a disaster. You have a company, which even after being given many benefits of the doubt, and being backed as a wall street darling, still facing tons of headwinds, struggling to turn a profit. I can't help but cynically think if BB got its paws in there it could only exacerbate the negativity. I truly don't see how if you have a money losing venture, teaming up with another money losing venture will solve the problem. It would be a real world example of the "losing money on each sale, but make it up on volume" joke.

In unrelated news, BB seems to be on a bit of a tear today, for no particular reason, while the market largely ignored Palma leaving, and several largish contract announcements. Not complaining about today specifically, but the wild unpredictability of these sorts of moves predicated with no news is unsettling. Since a 10% drop for no reason could be just around the corner.