Update on Solyndra auction

Two things to update my earlier posting on the auction of Solyndra’s non-core assets. 1) Solyndra has filed its list of assets and liabilities. It lists a number of patents and many more patent applications — as well as tradenames, logo, and domain names. Of course, given current accounting rules, the value of these intangible assets is booked as “unknown.” 2) The auction of the core assets will be held November 18 (bids due November 16). The company is seeking to sell the assets on a “turnkey” basis — meaning that one bidder gets the whole business. These assets listed in court documents are:

all of Solyndra’s assets utilized in the ordinary course operation of its business (or any portion thereof), including Solyndra’s manufacturing plant and land, all associated fixtures and equipment, intellectual property, rights under executory contracts and leases, and any other business assets necessary for a sale of Solyndra’s enterprise.

If all the assets are sold as a block, the auction will not tell what the IP is worth since they are wrapped up with all the other assets. Of course, if a public company buys the assets, it will have to put them on their books as acquired assets — and separate out the intangibles. That might finally tell us the value of the intangibles. But, then again, the acquirer could always punt and declare it (or most of it) “goodwill.”
Documents are available on-line at https://www.solyndra-info.com/.

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