There have been a lot of doubts along the way. Remember when SmartMod filed the injunction against HyperCloud? Every step of the way there have been doubts... The fact that Netlist has finally come to the end of the road with several patent validations eases some doubt. The fact they wouldn't even grant SanDisk a review of the '185 patent for DBA is another huge win that doesn't get talked much about here.
The LG memo of understanding that they would co-develop a mobile HyperVault is probably contingent upon finalizing the main HyperVault design with Samsung.
The Microsoft PO that failed to materialize might have been due to the news being leaked by Diablo during the trial and the uncertainty around IP ownership.
Uncertainty surrounding IP ownership has plagued Netlist all these years and with the secured patents this year, you must have fewer doubts about the eventuality of licensing and sales. Samsung giving Netlist a sweetheart loan is nice, getting a better loan covenant is nice, things are moving along step by step.
They should have raised cash PRIOR to HEAT read out, yes, but that would have been like 10 million shares at pre-split $5-$6. Not sure if there would have been eager buyers 1-2 months prior to HEAT results, but perhaps 6-8 months prior, then the raise would have been more like 12M shares at $3.50-$4
Yeah, they beat even the highest of the analyst estimates on top and bottom, and if it is like 2012, they could show a 0.20 EPS next quarter.