Lemelson Capital Management calls for leadership changes
Lemelson Capital Management, of Marlborough, a private investment management firm, announced that it is calling on the board of directors of the company to remove CEO Rick Wheeler and Chief Financial Officer Thomas McEntire, of Geospace Technologies. In addition, it is urging the board to explore an immediate sale of the company. Geospace is a leader in the design and manufacture of instruments and equipment used by the oil and gas industry. “CEO Rick Wheeler and CFO Tom McEntire have recently and knowingly allowed the filing of a materially misleading form 8-K with the Securities and Exchange Commission (SEC), failed to design and maintain controls over financial reporting, and allowed dysfunction and incompetence to lead to the loss of major contracts,” said Emmanuel Lemelson, chief investment officer of Lemelson Capital Management. Geospace Technologies stock price recently hit a new 52-week low, plummeting nearly 90 percent since Wheeler took over as CEO in January 2014, despite the industry-wide recovery in the oil and gas sector which has led to the stock price of several of the company’s competitors recently achieving new 52-week highs. In addition, the decision by Statoil, one of the world’s oil and gas majors, to stop using Geospace’s services underscores the failures of current management and places at risk what should be a shoe-in win of the PRM contract for Petrobas’ giant Roncador field expected in 2018.
Technical Communications Corporation announces fiscal results
Technical Communications Corporation, of Concord, announced its results for the fiscal quarter ended Dec. 30, 2017. For the quarter ended December 30, 2017, the company reported a net loss of $52,000, or $0.03 per share, on revenue of $1,117,000, compared to a net loss of $695,000, or $0.38 per share, on revenue of $632,000 for the quarter ended Dec. 31, 2016.
KryptCo assigned patent
KryptCo, of Weston, has been assigned a patent developed by three co-inventors for “systems and methods for delegated cryptography.” The co-inventors are David Gifford, of Cambridge; Kevin Churan King, of Cambridge; and Alex Grinman, of Chestnut Hill. The abstract states: “In some embodiments, an authentication method comprises receiving a request for a digital signature of data from a delegate computer over a secure channel using cryptography to provide authentication, wherein the secure channel comprises at least one wireless communications link; displaying information derived from the data; prompting a user for approval of the request with information derived from the data; in response to receiving approval from the user, creating the digital signature of the data using one or more private keys stored in a key enclave; and sending the digital signature to the delegate computer over the secure channel.” The patent application was filed on Aug. 3, 2017. The full-text of the patent can be found at http://bit.ly/2EpoX56.
Cambridge Electronics assigned patent
Cambridge Electronics, of Cambridge, has been assigned a patent developed by two co-inventors for “capacitively-coupled field-plate structures for semiconductor devices.” The co-inventors are Bin Lu, of Watertown, and Ling Xia, of Belmont. The abstract states: “Field-plate structures are disclosed for electrical field management in semiconductor devices. A field-plate semiconductor device comprises a semiconductor substrate, a first ohmic contact and a second ohmic contact disposed over the semiconductor substrate, one or more coupling capacitors, and one or more capacitively-coupled field plates disposed over the semiconductor substrate between the first ohmic contact and the second ohmic contact. Each of the capacitively-coupled field plates is capacitively coupled to the first ohmic contact through one of the coupling capacitors, the coupling capacitor having a first terminal electrically connected to the first ohmic contact and a second terminal electrically connected to the capacitively-coupled field plate.” The patent application was filed on Aug. 3, 2017. The full-text of the patent can be found at http://bit.ly/2GaDT3n.
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