Commentary and Activism

A three page letter published on February 9, 2017 calling on the board of directors of Geospace Technologies (NASDAQ: GEOS) to remove CEO Rick Wheeler and CFO Thomas McEntire. In addition, the letter urges the board to explore an immediate sale of the company. Geospace is a global leader in the design and manufacture of instruments and equipment used by the oil and gas industry.

A 9 page letter written in December 2016 to the U.S. Senate Special Committee on Aging, summarizing extensive alleged abuses of accounting, pharmaceutical reimbursement and classification guidelines and regulations by Ligand Pharmaceuticals (NASDAQ: LGND), a U.S.-based publicly-traded pharmaceutical company.

In the letter, Lemelson urges the Committee to commence an investigation into these alleged abuses.

An open letter dated July 10, 2017 to Gary Owens, Chairman of the Board of Directors of Geospace Technologies, Inc. urging an immediate share repurchase.
A 20 page letter sent to Congress and the SEC on July 13, 2018, outlining extensive alleged accounting and securities fraud, and abuse of federal and state healthcare laws by Ligand Pharmaceuticals (NASDAQ: LGND). In the letter, Lemelson urges the Committees in both the House and the Senate to commence an investigation into these alleged abuses, as well as the Securities and Exchange Commissions (SEC) failure to stop them despite being provided abundant evidence of the alleged fraud spanning multiple years – failures he likens to the Commission’s botched Enron and Madoff investigations.

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This material is not intended to constitute legal, tax, accounting or investment advice. Prospective investors should consult their own advisors about such matters. The performance data included represents the net performance of The Amvona Fund, LP, a Delaware limited partnership (the “Fund”), and reflects the deduction of all Fund level expenses, including without limitation brokerage and other transaction costs, as well as legal, audit, administration and other expenses. The performance presented does not represent the return of any individual investor. An individual’s net return may differ significantly from the net performance as stated herein due to differences in fee arrangements, and timing of investment. In fact, net returns shown herein may be significantly higher than an investor’s actual return. Performance includes the reinvestment of all dividends, interest, and other income. Performance presented from January 2015 to the present represents a hypothetical investor in the Fund whose capital account has been charged (i) a quarterly asset management fee of 0.25%, payable in advance; (ii) a quarterly performance allocation of 25%, subject to a high-water mark and a 6% annualized hurdle rate. Net performance from the Fund’s inception to December 2014 is calculated using the average management fee and average performance allocation calculated among the capital accounts of all Fund investors except for Lemelson Capital Management, LLC, a Massachusetts limited liability company (the “General Partner”), and its affiliates. Results compared to the S&P 500 Total Return Index (the “Index”) are for informational purposes only. The Fund’s investment program does not mirror the Index and the volatility of the Fund’s investment program may be materially different from the volatility of the Index. In addition, the Fund invests in a different mix of securities and sectors than the Index, which may cause the difference in performance between the Fund and the Index. You cannot invest directly in an index. Past performance is not necessarily indicative of future results. All investments involve risk, including the potential loss of principal.

The performance results of Fund should not be considered a substitute of, or indicative of the past or future performance of the Fund. 2016 Returns are estimated and unaudited, and actual returns may vary from the performance information presented above. Estimated returns should not be construed as providing any assurance or guarantee as to actual returns. Actual performance figures are only computed and audited yearly. Past performance is not indicative of future results, which may vary. The value of investments and the income derived from investments can go down as well as up. Future returns are not guaranteed, and a loss of principal may occur. An investment in the Fund is subject to a variety of risks (which are described in the Fund’s Confidential Offering Memorandum), and there can be no assurance that the Fund’s investment objective will be met or that the Fund will not incur losses. This information does not constitute an offer to sell or the solicitation of an offer to purchase any interest in the Fund or other investment product. Any such offer or solicitation may only be made by means of delivery of the Fund’s approved Confidential Offering Memorandum.

Any specific securities identified and described in this material do not represent all of the securities purchased, sold, or recommended for the Fund. The audience should not assume that investments in these securities identified and discussed will continue to be profitable. The Fund currently owns numerous other securities in various other industries and sectors unrelated to these securities. The purchase of these securities only will not create a diversified portfolio. In addition, such securities are subject to losses as an investor may lose money investing in such securities.

On Monday, I received an email from Hedge Fund Research!

http://www.amvona.com

#Faith #SECenforcement #Lemelson #Fraud #ActivistShorts #hedgefund #fundresearch #thematrix #inspiration #sec #hfr

“The Commission brought the widest array of potential claims against @Lemelson and his company, and his decision to fight the charges paid off…“

#SEC #enforcement #LCM

"This case was infected with prosecutorial misconduct from the outset."

Lemelson Capital Chief @Lemelson Comments on Unprecedented 9-year SEC Fight over Ligand Pharmaceuticals (NASDAQ: LGND)

#LCM #Lemelson #SEC #SCOTUS $LGND

Below is my reply to the TASIS Switzerland and TASIS Foundation board of directors responding to their recent support and promotion of #woke ideologies at the school.

#TASIS #TASISSwitzerland #TASISEngland #TASISPortugal #TASISLugano

"We are satisfied with our YTD '23 returns as well as the significant additional gains experienced in early Q4, 2023," said @Lemelson, CIO, LCM. "However, YTD 2023 results are an outlier and are unlikely to be repeated in the future," #Lemelson #LCM

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