M·CAM, Inc. releases Patently Obvious® on the Eastman Kodak $830m Financing Offer

Date:  Fri, 2012-11-30

CHARLOTTESVILLE, VA November 30, 2012 – M·CAM, Inc. released its Patently Obvious® report today on the Eastman Kodak $830m Financing Offer

When the Steering Committee of the Second Lien Noteholder’s Committee offered to provide Kodak with an $830 million loan, an offer that was accepted by the company on November 30, 2012, it probably acted in good faith. What’s wrong with the Committee’s offer? For starters, the mandatory sale for $500 million may or may not happen. It may be that certain patent aggregators are angling to benefit from out-bidding the late summer order-of-magnitude discount with a complex set of litigation avoidance licenses which may add up to the price target. Whether the Department of Justice and Federal Trade Commission’s public workshop on Patent Assertion Entities on December 10, 2012 tempers this strategy remains to be seen. Whether the DoJ actually decides to take the Sherman Act seriously or not will undoubtedly impact the ultimate market value (to Kodak or the unlucky buyer). In any case, it’s reasonable to assume that Lasinski’s stratospheric valuation will suffer an unintended demise and unlike Marat’s, this one will be self-inflicted.

The M·CAM Patently Obvious® report on the Eastman Kodak $830m financing offer can be found HERE.