0001144204-15-044195.txt : 20150727 0001144204-15-044195.hdr.sgml : 20150727 20150727084540 ACCESSION NUMBER: 0001144204-15-044195 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20150727 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150727 DATE AS OF CHANGE: 20150727 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Inventergy Global, Inc. CENTRAL INDEX KEY: 0001084752 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 621482178 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-26399 FILM NUMBER: 151005964 BUSINESS ADDRESS: STREET 1: 900 E. HAMILTON AVENUE #180 CITY: CAMPBELL STATE: CA ZIP: 95008 BUSINESS PHONE: 408-389-3510 MAIL ADDRESS: STREET 1: 900 E. HAMILTON AVENUE #180 CITY: CAMPBELL STATE: CA ZIP: 95008 FORMER COMPANY: FORMER CONFORMED NAME: EON COMMUNICATIONS CORP DATE OF NAME CHANGE: 19991123 FORMER COMPANY: FORMER CONFORMED NAME: CORTELCO SYSTEMS INC DATE OF NAME CHANGE: 19990421 8-K 1 v416253_8k.htm 8-K

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): July 27, 2015

 

Inventergy Global, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware 000-26399 62-1482176
(State or other jurisdiction
of incorporation)
(Commission
File Number)

(IRS Employer

Identification No.)

 

900 E. Hamilton Avenue #180

Campbell, CA

95008
(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code: (408) 389-3510

 

Not Applicable

(Former name or former address, if changed since last report)

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation to the registrant under any of the following provisions:

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 
 

 

Item 2.02Results of Operations and Financial Condition.

 

In connection with Inventergy Global, Inc.’s (the “Company”) upcoming annual meeting, which has been scheduled for September 9, 2015, Joseph Beyers, the Chairman and Chief Executive Officer of the Company, prepared a letter to shareholders, a copy of which is attached hereto as Exhibit 99.1. The letter to shareholders is not filed with the Securities and Exchange Commission or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such a filing, but is furnished to comply with Item 2.02 of Form 8-K.

 

Item 7.01Regulation FD Disclosure.

 

Reference is made to Item 2.02 above for information about the Company’s letter to shareholders, which is incorporated by reference herein. The letter to shareholders is not filed with the Securities and Exchange Commission or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such a filing, but is furnished to comply with Item 7.01 of Form 8-K.

 

Item 9.01Financial Statements and Exhibits.

 

(d) Exhibits

 

The following exhibits are filed with this Current Report on Form 8-K:

 

Exhibit No. Description
   
99.1 Letter to Shareholders, dated July 27, 2015

 

 
 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Dated: July 27, 2015

 

  INVENTERGY GLOBAL, INC.
     
  By: /s/ Wayne Sobon
    Name: Wayne Sobon
    Title: Senior Vice President, General Counsel and Secretary

 

 
 

  

Exhibit Index

 

99.1 Letter to Shareholders, dated July 27, 2015

  

 

EX-99.1 2 v416253_ex99-1.htm EXHIBIT 99.1

Exhibit 99.1

 

 

Letter to Shareholders

 

July 27, 2015

 

Dear Inventergy Global Shareholders:

 

It has been nine months since I sent a general update to you, and I would like to share our recent developments and provide further insight on our strategy and prospects going forward.

 

Prior Results:

 

In Q1 of 2015, we completed our first licensing transaction. The deal was for a $2 million, 5-year license to our Huawei and Nokia Internet Multimedia Systems (IMS) patent portfolios. The license was granted to a mid-tier IMS telecommunications equipment supplier, at essentially the same effective royalty rate being offered in discussions with other IMS-related supplier companies.

 

In Q2 of 2015 we completed a $4 million transaction for the sale of just two patent families from our Panasonic mobility portfolio. With this focused sale, Inventergy still owns 112 patent families which include more than 730 patents applicable to a number of telecommunications market segments. We acquire significant, rich patent portfolios in areas where we see opportunity, and monetize those portfolios in various ways including licensing as well as targeted sales to third parties. We drive to obtain good value for our intellectual property assets with an optimal tradeoff of timing and risk. We believe that the sale of these two patent families aligns with that strategy and may even accelerate some of our licensing discussions.

 

On a financial level this targeted patent sale was a very impactful transaction. Receiving the full cash payment upfront made it possible for us to pay down the Fortress debt by over $1.8 million, make payments to Panasonic towards our guaranteed revenue share and retain nearly $1.7 million for operating purposes. These funds will give us the capacity to drive to closure other, potentially larger deals in our pipeline.

 

In August, we will be releasing financial results for the quarter ended June 30, 2015. While the review by our auditors is still underway, we do believe that in addition to showing revenue in excess of $4 million, we will likely also show a profit for the quarter – the first since the completion of the merger in June 2014, when we began trading on NASDAQ under the “INVT” ticker. The results will also show that we have made significant reductions in expenses relative to prior quarters. Overall we have increased our cash balance, reduced our debt load, cut operating expenses and in general improved our financial management processes – including the engagement of a new highly qualified CFO, John Niedermaier.

 

 
 

  

Looking forward:

 

Revenue Generation: We have a robust pipeline of additional value-creation opportunities. Earlier this year we sent a notice to major mobile handset suppliers providing them information on at least 163 patents in 13 patent families that we claim are essential to 3G and 4G/LTE mobile communications. We offered them a standard per unit license royalty rate for these assets and an opportunity to license other patents related to mobile handsets in our portfolio. We currently are in active discussions with a number of these companies. In addition, we are also engaged in discussions with companies in other market segments for licensing and/or sales opportunities. We do not currently provide specific guidance on revenue forecasts, but as stated earlier, we believe that we have the potential to close new transactions in a reasonable amount of time that are materially larger than our prior transactions.

 

Litigation: To date our primary focus has been on monetization through non-litigation licensing and/or sales opportunities. Of course, as we pursue efforts to drive significantly larger revenue opportunities, litigation may become increasingly important and we are making appropriate preparations for such events. As we’ve noted, we have two pending litigations against Sonus Networks, Inc. and Genband US LLC, two IMS equipment providers. Both cases are in early stages and in both, the parties are engaged in mediation efforts to pursue potential resolution. Again, we do not seek litigation for its own sake, or see it as core to our business model, but we’re realists: we know that occasionally potential licensees resist reasonable offers and we must be prepared.

 

Acquisitions: Lastly, we are continually evaluating new patent acquisition opportunities. In particular, we are analyzing new assets that could further strengthen our existing monetization efforts and/or expansion into new market segments and potential licensees. We are exploring a number of creative business models to enable these potential acquisitions.

 

In closing, we are now starting to reap the benefits of our significant strategic monetization investment and development efforts. We look forward to an exciting second half of 2015.

 

Thank you for your continued support of our efforts.

 

Sincerely,

 

Joe Beyers

Chairman & CEO 

 

 

GRAPHIC 3 tlogo1.jpg GRAPHIC begin 644 tlogo1.jpg M_]C_X``02D9)1@`!`0```0`!``#_VP!#``@&!@<&!0@'!P<)"0@*#!0-#`L+ M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7& MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$! M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$" M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$ MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4 MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#T6+Q7/JFO M6<,9,-N9E`0'EN>Y_I7=4Q'#YQVI%EW'"C-:U:D9VY8VL<]"E.G?GES-DE%1 M^9API&":59`S%>XK(Z!]%,,@#A>]`D#,57G%`#Z*89-K!6&,TC2A7VXR:`)* M*C:0H,L,"FRS%4!`^4]Z`)J*@2;Y"[C"`$EC7/Q:IJVL3RG3MD,$9QN8#GZY M!Y^E:0IN=WT1E5K1IM)ZM]$=/16!IFKW?]J-IFHJOG8^5ACGC/;CI59]+C9OE>F^FWJ=117 M+)K5Y!>V/GS*]O<*K$[`.O!_(UJ:_J3Z;8J\3`2NX5(I90Q4QCC(Z44N1=T4JK>O*_P_S+&F2^:LGL12:; M+YDDH],4FDV<]FLHGVY8C&TYINE6=Q:RSM.%`;&W!SZUF;#[N79J,">NW^=+ M-)Y&HQ@_=D__`%5'>V=Q-JEO/&%\I-N[)]&R:?JMI-RN.53@5!:RSR2.(BH8=:YM!'``7W`\G'%-DLI)M(6V)"RA1W MXR*`&7+$^&[EAG/V:0C'^Z:Y3PX-:ELI6TR:!(O,PPDZYP/8UU&GP7Z9@NU0 MVP0KC(.:P%T+7]#NICHLLTA42; M2NG;W8J?G*GMC'3%5=*DSX[NU_VI*T=&MO$G]H"XU6ZB\@ M*0801^'08J#3M#O[?Q?@ZX!SG]35"\UJ[\068M+/391O89?.0,'UQ@5T MVI-;26TEG/=I;F="H)<*Q'?&?\\UR3QZSX8B,MI=PW=BO)0D<#UQU'X&IH-2 MBDTN9;7N5BHN$VTWR/XK6?\`P=C0US26M_#-O@[I;,98CN#][]<'\*J&[_X2 M+5],@!W)'$'F^O5OY`?C6_;ZK;ZCX:>_GC*0M$_F(3Z9!`_*L3P%:?Z-+?WL4X1E6A&F_=DDWZ1_P`]CL:***X#U@HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`XWQ[;Q/;PS,N9%4@')XKB=(ACNM4@ MAF7=&S8(R1G\J**]S"-_5G\SY?,(KZZEWL>D>)+>*U\+M:P((X`50(O'&M5C7:"&/X[C117F-MX?YGMQ26+T_E_4UZ***YCM/_V3\_ ` end