Yesterday, ParkerVision, Inc.’s (NASDAQ: PRKR) (Price: $25.25) Chairman and CEO Jeffrey Parker claimed that the long-awaited Symbol Technologies, Inc. (NYSE: SBL) licensing agreement represents “a major recognition of our technology.” Yet ParkerVision refused to disclose any details that could be used to determine the value of the alleged agreement. In fact, ParkerVision has acknowledged that it received pre-paid royalties but failed to disclose the amount. We have received written opinions from RF consultants and engineers, and have spoken to six independent electrical engineers familiar with the D2D. Not one of these experts found ParkerVision’s D2D claims to be true or of any commercial value.
The Symbol phantom deal is far from the first time that ParkerVision has issued statements whose only value was to assist its fraudulent stock promotion. On July 23, 1997 ParkerVision announced it had entered into an agreement with the IBM Corporation (NYSE: IBM) to make and sell wireless products using its technology. At the time, Mr. Parker also claimed that the IBM deal had validated its “wireless technology.” No products were ever made or sold under the agreement. Six months later, IBM terminated its agreement with ParkerVision. On December 10, 1997, ParkerVision announced that its RF receiver chips were available for sale. ParkerVision has never sold a single chip.
ParkerVision has also twice falsely claimed positive test results. On March 3, 1998 ParkerVision announced that The Boeing Corporation (NYSE: BA) had verified its technology. Boeing refuted ParkerVision’s claim. Mr. Parker claimed ParkerVision was then ready to “negotiate strategic partnerships and OEM licensing agreements.” None has ever materialized. On December 2, 1998, ParkerVision announced favorable results of independent testing sponsored by Questar Corp. (NYSE: STR). ParkerVision also announced the signing of a letter of intent to develop D2D products with Questar. No product has been developed. According to R. Curtis Burnett, Vice President of Public Affairs for Questar Corp., the Questar testing was performed not by an independent firm or research laboratory, but by an individual who is now a ParkerVision employee.
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