reggie, I agree it is not so easy to follow, and I think Arvind must have been a lawyer in a previous life.
If you look at your Ann B Item (1) This is yet to be determined and the Court Case should be settled within a few months, I think it is also a case of no further litigation ie no appeals, I think a 50% chance at best of winning. You have to remember we are up against a huge company like HCL and Judges in India do not like getting powerful people offside. However if IRL wins it will be a huge amount, more than the IRL market cap. A win will see the share price immediately above 2 cents.
Item (2) We lost that one, it was handled by an arbitrator, I didn't think we'd win that one anyway, for the same reason above. The loss of the case was mentioned in Item 2 page 5 of the last quarterly. IRL can appeal but whether they do or not hasn't been announced. Maybe a waste of time and money to appeal.
Item (3) We won
Item (4) We won
Item (5) We lost, no explanation why
Item (6) We won. Material Escalation, approx amount $4.5-$4.6M IRL obviously only got a small part of the claim, again for the same reason as above. HCl has let IRL win a couple of small claims, just throwing a few crumbs to keep us happy.
Items (7) (8) and (9) are still being negotiated, possible $1 million. From the above reasoning IRL might get $100,000 if we are lucky.
At least IRL will be getting payment for the cases we won, HCL aren't appealing so we should have AUD$1.5 million in the bank shortly.
IRL Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
