Bioprogress is a stock I have been in and out of quite a few times since it floated in May but not much mention here on the Investors' Room. Does anyone else follow this stock. I see it is up 1.5p today and a few good buyers seem to have appeared.

More from the other place

schull69 - 3 Nov'04 - 07:17 - 2237 of 2241

ALL:this is a very early start for me (5.40)but I said I would post a fuller note,it will be a bit long,I don't type that fast and having read all yesterdays posts last night feel responsible for some confusion.The court adjourned at 4.55 and I only had time for a quick post on getting home.I will clarify facts and give my impression of the day.....costs:Piggy1227 reporting was spot on:BPRG has got 65% of taxed costs and been given one third of total(835000k)which is 181000k to be delivered within 14 days..this total figure includes 183000 which was the insurance premium.SEO made a ridiculous claim for costs and hadn't even handed in a properly itemised bill which the judge noted.His ruling recognizes without doubt thta BPRG are the winners of the cc....It was clear from the start of the hearing that SEO were grabbing at straws and our man,Baldwin who is by far and away the more capable counsel of the pair,stated that SEO are 'desperate for delay'.There was an attempt by Miller(SEO cousel)to query the judgement regarding patent 1..the judge affirmed that the Mr Novack is the inventor of the inventive concept for claims 1-5 and 8-9 of p.1,Mr Draisey played a part in claim 6 but SEO cannot operate becausse they have no licence for 1-5..Baldwin:'clains 1-5 operate as a bar to 6'...The question of foreign rights in Israel,Singapore and Sri Lanka came up and I could not follow all this except that BM in cinversation referred to the son of the SEO director,Howard White,who operates from there and mentined 'iscaps'(someone more knowledgable than me can elicidate)..the outcome of this is that SEO is to submit proposals to BPRG within 14days.....Miller continued to grasp at straws in the hearing,recognised by Judge Floyd when he stated;"Mr Miller,we are arguing ahout angels on heads of pins."Miller was only doing what he was paid to do-make the best case for his client-but on re than one occasion had to concede that he had made 'a bad point'......now for my view on the share fall:when the case started there four people the public seats,3men and a woman-2 men came in later...the woman left at 1.30 and one of the men had already left unobserved by me.One man came in later but was present for just a brief while.I read the posts last night and comment about claim6 started at about this time with Wimbledonman who is either a man or a woman.I am not implying any suspicious motive on the part of this poster,rather I note how a little piece of info can induce panic..it's a feature of internet communication that we all have to live with and attempt to understand..............I went out of the Courts with a chap who told me he is an investor with SEO.He is a decent man and a far from happy one.I wont give details of his holding but it is cinsiderable and a man who wanted to organize his own pension fund sees his goals not coming to fruition...someone mentioned a while back that we more fortunate investors must not confuse the well meaning private investor with a shabby management.GH and BM came into The Wig and Pen and stayed at the bar with we two.I had met BM at the summmer cc but had never met GH.I was obviously very pleased to have time with our man and to form an impression.In the course of conversation he enquired my bb nickname so that is the context for these comments:he is very happy with the rception in the US...he had meetings with Colgate(who are very pleased with the start of Max Fresh)and FMC...the Wyeth deal is progressing very well...all pharmas urgently want to get out of gelatin.....there will be no compromise whatsoever with SEO...Cardinal are not a takeover threat to the company at this stage of its development...the convertable bond gives him cash which Americans like to see and the poss of aacquisitions...he wants to give news and there is significant news coming up..he wore a pin stripped suit for the nasdaq launch because that is how Americans picture a British businessman.I received an impression of an amiable,honest and hardworking man who is working very hard ti build what one day will be a vety important international company....we must best let him get on with it.....The cc resumed at 2.00 and following the discussions re costs the issue of damages came up....more phillibustering by Miller....the outcome is that SEO must make a full disclosure of documents extending to theeir use of all 3 patents 'suffficient to show'(Baldwin's insistance on what I suppose is a legal term)within 28days...my impression is that Baldwin cant wait to shaft SEO into outer space and this is when there will be fireworks.It's now 7.15 and I need a break..I will respond up until 10.30.and then pm....this whole business has still some weeks to run but there is no doubt of the outcome in our favour...best wishes to all who mean this company and share well.

Great posts thanks all... Odd this morning though..still cant
get past 108...

Jumpin - great thing round numbers. You just know everyone's watching them. ;-)

Thanks for this Janus, I am very happy that I stuck with BPRG and have even topped up this morning, once again thanks...

Another none event.

Strange share this one, happy to be in but it is a definite rollercoaster ride at the moment. Maybe upward once the Amercian market open...

Very odd.. SEO down 11.11% yet BPRG only up 1.72%?

Hmm, well they do say shares fall faster than they rise!

We shall see what the American market makes of this.... Still at least were up at present...

Is this a pairs trade, G?

;-0

Yeah I wish ;)

It's moving the right direction WOW!

;-)

http://www.moneyam.com/action/news/showArticle?id=497256

It just gets messier and messier.

As far as I read it, both will eventually pay some costs so they're both down on it.

Big Al, that afx is confused.. if you read both RNS carefully it is a different picture to that

3 November 2004



Stanelco plc

Clarification of Patent Entitlement Case

Stanelco finds it necessary to clarify certain information contained
within one
of BioProgress' press releases in connection with the litigation
between the two
companies.


Stanelco wishes to clarify that the Court has not ordered that
Stanelco has to
pay damages to BioProgress. No final Order will be made until Stanelco's
application to admit further evidence, which may result in a
reconsideration of
certain of the Judge's findings, has been determined. All the Court has
determined to date are the principles of a mechanism through which any
damages
will be assessed, if a final Order for damages is ultimately made.


It is Stanelco's firm position that no damages, or at worst, minimal
damages,
will ultimately be found to be payable to BioProgress.


BioProgress PLC
03 November 2004


Press Release 3 November 2004


BioProgress plc

("BioProgress" or "the Company")

Further success for BioProgress in patent entitlement case


BioProgress plc (AIM: BPRG; NASDAQ: BPRG) announces that in a hearing
yesterday
in the dispute between BioProgress Technology Limited and Stanelco
Fibre Optics
Limited ("Stanelco"), the UK Patents Court made further rulings
following the
previous judgment handed down on 1 October 2004.


The Court made various declarations about which company had invented
the process
of sealing water-soluble polymeric materials by radio frequency ("RF")
welding
in order to form capsules. These declarations made reference to
BioProgress'
sole entitlement to the main claim and all except three subsidiary
claims in the
Master Patent. The Court also clarified that BioProgress' entitlement
to the
main patent claims in the Master Patent conferred no right upon
Stanelco to use
any of the subsidiary processes without the permission of BioProgress.


In its earlier judgment, the Court had held that Stanelco had misused
Bioprogress' confidential information by making the patent filings
which founded
the three families of patents. Yesterday, the Court made an Order for
the
commencement of the procedure for assessing the amount to be paid in
damages by
Stanelco to BioProgress for breach of confidence.


Stanelco was ordered to disclose details of its foreign patent
applications, so
that ownership of all patents and patent applications in the Master
Patent
family can be dealt with at a further, final hearing in approximately
4-6 weeks
time.


The Court also made an order for costs in favour of BioProgress.
Stanelco must
make an interim payment towards these costs of approximately
GBP180,000 within two
weeks.


At the end of the hearing, Stanelco indicated that it had commenced an
application to request the Court to reconsider certain aspects of the
previous
judgment. Stanelco was ordered to file its evidence within seven days.


Graham Hind, Chief Executive of BioProgress said: "We are very pleased
that the
Court has confirmed our entitlement to the main patent claims in the
Master
Patent and has awarded us interim costs. The Court has made clear
directives to
Stanelco as to the course of action it must now take. We remain as
comfortable
as we have always been with our position, and will be making no
further comment
until the next hearing is concluded."


- Ends -

They've banned me from their thread on ADVFN free bb.

Tw*ts :-)

G - I always read these things too quick and I ain't the best interpreter at times. ;-)

Dil - surprised you lasted so long m8! LOL

Me too :-)

What the hell is going on, someone must get reported to the FSA for this total and utter bollo..s. You can't just put these RNS's out without any substance, can anyone who was at the case throw some light on this. We shareholders cannot be treated like this...

AdieH: BPRG have a very strong legal case, indeed they have won the argument. However the defending companies lawyers are using all available legal means to change the outcome. This is a natural process. The Judge has given them time to come back to CC with a fully detailed challenge concerning overseas patents. These things take time but we are in the closing stretch and it will, IMO, all be over before XMAS and the judgement will all be BPRG's favour.

Be patient on this as it does sound confusing, and of course to shareholders hoping for a quick and clinical outcome it is very frustrating, but it will all end soon.

So I suggest you follow the BPRG RNS posting. You can of course complain to the FSA but by the time they get around to investigating it will be all over...or I have got this completely wrong!!

Thanks, I hold on for big profits in the future, I hope, but it seems to be me that SEO are clutching at straws and there shareholders should be asking questions of their board... Thought about investing in SEO once case over with but this has certainly made me very wary...