Assuming one believed the expected value of settlements and court victories was substantially above the implied $200-$250 million market cap (including warrant conversion) post merger, isn't there still a major risk to investing in VRNG at this time? A number of posters here have suggested that a settlement with GOOG (or one of the others) could happen at any moment, pointing out that settlements often occur pre Markman. If so, wouldn't I/P simply pull out of the merger and simply pay the minimal $5 million break-up fee? The I/P patents from Lycos are interesting, but they don't belong to VRNG yet.
This is not the market cap as the new shares have not been issued ...the current market cap is only $42.8 million based on 13.8 million s/o according to Nasdaq.com lots of upside here. BTW the principles involved in the merger are committed to it, call IR for a full explanation.
The market is trading VRNG as if the deal were done. In other words, the stock reflects ownership of the patents and issuance of the new shares (and warrants). The presumption is a market cap in excess of $200 million. As to the principles and the principals, this deal breaks (and I/P pays $5 million to VRNG) if there is a settlement with one of the defendants before the merger closes. I/P only wants to use VRNG as a vehicle for coming public and financing the patent battles in court. It doesn't need or want VRNG if it gets a pile of money from GOOG.