PALM Pre, Mark Nelson, Dave Brondsema, Mithras Capital, and SourceForge (LNUX)...where's the common thread?
Will SourceForge be the hosting site for Palm Pre applications? Is this what Dave Brondsema was hired for and is working on as SourceForge's latest hire?
Shareholder activist Mark Nelson and beneficial owner of 3.8M shares of (NASDAQ:LNUX) via Cantus Foundation and Mithras Capital(1), may have something up his sleeve for LNUX. Dave Brondsema has development background with the PALM O/S per his resume and Mark Nelson was/is? a major PALM shareholder whose latest shareholder activism made headlines in July 2008 regarding his proposal to Microsoft and Carl Icahn regarding the failed Yahoo! acquisition.
Bottom-line: SourceForge has some passionate and major shareholders (Nelson/Mithras Capital, Gladwyne/Present (LNUX Board Director), Trivium), and on-point executive management with the recent hirings of Dobbrow, Sobel, and Kauffman...it simply looks like SourceForge has locked and loaded and is at the tipping point of a shareholder value firestorm....or not. At least it is looking about as good as it gets...
1. Source: SECFilings.com SourceForge Def 14/A filed 10/21/2008 footnote 17.
(17) The address for Cantus Foundation (the “Foundation”) and Mithras Capital, LP (the “Partnership”) is 275 Long Ranch Road, St. Helena, CA 94574. The Foundation and the Partnership beneficially owned 3,818,334 shares based solely on a Schedule 13D filed on August 4, 2008. Mark Nelson and Dana Johnson are directors of the Foundation. The general partners of the Partnership are Mark Nelson and Dana Johnson, as trustees of the Mark Nelson and Dana Johnson Revocable Trust dated November 17, 2005, and Janet Pagano (the “General Partners”). Mark Nelson and Dana Johnson, Joint Tenants with the Right of Survivorship had sole voting power and sole dispositive power over 3,818,334 of the shares listed above; The Partnership had sole voting power and sole dispositive power over 2,000,000 of the shares listed above.