Posted on 2009.03.31:
Yes, I am accusing Jeff Parker of securities fraud, not just on this recent announcement but on *many* of his announcements over the last 10 years.
I am *not* accusing ITT of fraud or even of knowingly participating in securities fraud - I am quite sure they are being duped by Jeff Parker. I do wish they would pay more attention to companies (and the technologies) they are "working" with and taking money from - in the long run this will not look good for them - but, I repeat, I do not believe that ITT (or any of its employees) is knowingly participating in fraud. The press release was (as I noted earlier) very carefully worded, and (almost surely) truthful - in what it actually said - not the implications that Jeff and his buddies want you to make. As I noted earlier, the ITT press release did not deny or even mention the fact that ITT in fall 2007 stopped work on d2p or that ITT was being paid substantial amounts of money by PRKR for engineering services. This are *not* material to ITT and ITT has no legal (or probably even moral) obligation to talk about them. These facts are highly material to ParkerVision - it is up to Jeff Parker to announce them. Not doing so is fraud.
And yes, as a board member of a public company, and as a long time investor, I know the definition of securities fraud, and yes, Jeff Parker is guilty of it in spades. Remember, I say this with my identity known, as a board member of a public company and as a somewhat sophisticated investor (certainly I have good legal representation...)
On the SEC front. I have submitted letters of complaint to the SEC. I have been told that they are looking into it, but that they can not discuss any such investigations. Given the number of size of major frauds (and the fact that the SEC failed utterly to stop them), the confusion of a new administration, and the fact that PRKR is mostly a technical fraud, rather than a straightforward accounting fraud, I don't anticipate any quick movement on the SEC front. When it happens, you will (mostly likely) know it at the same time I do.