The volume was small yesterday at under 100K shares, but we saw those small sales once more and I believe the passive trader was confused by the PR yesterday.
"FINJAN HOLDINGS, INC. Files SEC form 8-K/A, Unregistered Sale of Equity Securities"
I think the novice investor saw the headline and mistakenly believed some type of dilutive private placement of shares was done. The title of the PR is deceiving. It wasn't a new deal. It has the "/A" which told you it was an AMENDED 8-K. All it did was memorialize the closing of the Preferred Shares deal and clarified they were issued to an accredited investor and the deal was therefore not required to be registered.
It was an administrative tidying-up only, but unfortunately some people were confused and sold. Sorry you are going to miss out on the ride, but I am not sorry I got to add to my position with buys from $1.41 - $1.46.
Presentation is this afternoon at investor conference and typically a company would have one on one meetings with key investors throughout the day leading up to their presentation.
I will leave you with one paragraph where they updated guidance after the Proofpoint licensing deal:
"For 2017 we are at $54 million and EPS of $0.85 per share in earnings. Between this and the equity raised from temporary preferred stock, the company is set for cash for the next two years."
Read that slowly and comprehend it. $54M in earnings which equates to 85 cents per share. That is compared to a current market cap barely over $30M. Is it starting to sink in yet? This doesn't even have built into it the very real potential for more settlements and licensing agreements in the near future.
If you're selling because you see something with better potential... share it with me. I would like to do my DD on it. If you are selling because you hold part of the 70,000+ shares of short interest and didn't cover yet and are getting scared... good luck to you.
Able to pick up more at $1.45 and $1.46 today. Can't buy any volume, but I have a nice position taking all of these small bites.
I might fly out to either NY or CA for one of their next two investor conferences. Would like to sit down with them and get a personal take on how they react to some pertinent questions. I never push for "inside information", but I am good at getting general ranges and timetables for implementation and a good feel for whether or not management is on track and confident in executing their business plan.
We will find out the next couple days how good they are at selling themselves one on one to key investors.
Dissemination date is today for the short interest through trades settled by May 13th. It will be interesting to see what the short interest is. I could see someone with limited knowledge of what has been transpiring taking a short interest based on the previous run-up not knowing the fundamentals really are improving that rapidly.
Saw some "interesting" trading activity yesterday and today trying to make the price appear to be dropping. Has only taken extremely mall trades to reset the price much lower.
They present at the investor conference tomorrow afternoon. I would hate to be short at that time. I believe they will have private meetings with key investors during the day tomorrow and you are going to see some volume buy leading into their presentation.
All I know is I would hate to be short now... this company has a very real story that keeps getting better every day and it is poised to rocket much higher with the proper exposure.
By the way... I know the judge is a she. The "s" is going out on one of my older computers. I still prefer that one with Windows 7. Spell-check doesn't catch the missing "s" when it is also a word. "She" became a "he". It is the Bruce Jenner syndrome in reverse.
I don't live and die by every rise and drop on this small volume. When the time is right... the stock should be at around $60M to $75M market cap now and the price will take care of itself.
=$1.13 today on May 3, 2016.
=And hit $1.32 today on May 11, 2016.
=And $1.39 today on May 13, 2016.
=And $1.68 on May 16th, 2016.
And $1.74 on May 23rd.
They have announcements coming up and this is just the "insider" activity by those in the know. With a float of only 6M shares, once the news is disseminated to the masses, this should go over $2. Pulled back to $1.55 close yesterday. Still time to get in. They are presenting at an investor conference in a couple days and this should begin to really take off then.
You could have made over 50% in less than three weeks. Anybody do the research on their own and get in?
This should still be a double at these prices. Do yourself a favor and verify the DD on FNJN.
Their guidance seemed to indicate Blue Coat was determined to exhaust all appeals and take things into 2017. I don't know... I have a feeling that may have changed. I think the only reason the judge's ruling could be taking so long is he was told they are close to an agreement.
I would totally be in favor of licensing deals with everybody even if it meant not "maximizing" the possible revenue from court wins. I think it is very achievable in a year's time to be booking $20M a year in licensing revenues per year and having CybeRisk add another $5M to earnings. With $25M a year in earnings I think it justifies a $200M - $250M market cap. That takes us towards $10/share stock price. Very attainable in my opinion.
I'll be okay with $5/share if Symantec and one or two others drag their cases out to 2018. CybeRisk becoming self-supporting and accretive to earnings by the end of the year is huge. There are some other companies out there trading for pennies on the dollar for what their IP is worth because they don't have the money or know-how to protect and enforce their rights. I also see some strategic acquisitions down the road that will allow them to leverage their talents for even greater returns.
I am still really liking what I see here. I got my last buys in at $1.32 and think I will be adding more at these prices. I see more potential now than the back to last year's $2.80 price and I think buys here will be a double or triple in the foreseeable future.
There has been some very astute observations here. Hope people stick around. There is much more to be done and this is one of those that will be a fun ride. I forgive them for being quiet and getting their options priced at $1.20... lol. They are going full bore now and I think the momentum is sustainable.
=Still very low volume considering the news.
The only people that know "the news" are people who were currently following the company. They need to expand their reach to inject some new blood into the stock.
One of these days the right promoter will get this out to the masses and with the low float it will quickly rise to fair value. 100 share sells knock it down 8 cents. There just isn't enough volume. You have to shake your head at those selling in the $1.10s. Even those selling now knowing the judge's ruling on Blue Coat is coming any day. That is the one that could take this straight to $2.50 - $3.00 if most of the $39.5M stands and fees are added on top of it.
You beat me to it as I have been trying to calculate what a licensing deal might look like.
This could be very nice, indeed! I can't believe people are selling so cheap. The volume still isn't there yet. This should be busting through $2.
I had a dream that Blue Coat was given an opportunity to settle the current judgment and dismiss the second lawsuit if they executed a licensing deal and paid just $15M upfront to retire the preferred shares. That would be sweet.
Excellent assessment. This settlement isn't about one case. It is the logical culmination of the validity of the patents being confirmed over and over. The preferred shares were brilliant. The $5M our financiers will make is peanuts compared to how much these funds are going to save in legal bills and earn in licensing deals.
Should be $2 now with $2.50 possible with the Blue Coat ruling.
EAST PALO ALTO, CA -- (Marketwired) -- 05/23/16 -- Finjan Holdings, Inc. (NASDAQ: FNJN), a cybersecurity company, announced that on May 20, 2016, its subsidiary Finjan, Inc. ("Finjan") and Proofpoint, Inc. agreed to a license to the Finjan global patent portfolio. While a settlement has been agreed to, the case dismissal is pending a final definitive licensing and settlement agreement. The terms of the agreement are expected to be confidential, subject to regulatory requirements.
YES! The validity of the patents is holding up in courts and at the PTAB and they have enough cash now to see through all court activity. More of these lawsuits should begin to settle which is HUGE.
=And the best of the good news isn't even known to the broader markets!
That is the big thing. The institutions and a few savvy individual investors loaded up on some cheap shares. With the low float, this could be a powder keg if it hit the right critical mass and got the attention of more people.
This first investor conference will be interesting to follow. Just takes a few deep pockets to move this over $2 and get it out of the ridiculous range. Then at $2.50 - $3.00 it becomes more fairly valued and we can trade the swings as news moves it up and down.
Some nice buys again this morning and small sales moving it down. 3 steps forward and 2 steps back is fine. We will see higher highs and higher lows as the base keeps getting stronger.
First of three investor conferences and I believe we will get a ruling from the judge in the Blue Coat Systems case. Her schedule has gotten better and I believe she would like to clear it out before Memorial Day.
That isn't even built in as the amounts usually get reduced substantially. Less than $20M and we will go down as that triggers some things with the financing, but more than $20M and we should go up.
You listening, Investor Relations? You need to utilize some PR tricks and get the news disseminated to other people, also. You are just preaching to the choir here and we are all awaiting the judge's ruling. Need more fresh faces to get on board for the run to keep it sustainable.
Very nice. Now that they have all the pieces in place, they are systematically increasing the exposure. A PR two days in a row and new analyst coverage. First of three investor conference in a few days. This is too good of a story to be ignored for long!
You are, of course, correct. I must have been doing too many things at once. The credit was only extended for solar and is expiring at the end of 2016 for everything else.
Which makes this an even bigger fraud. Direct from the source:
IEC 61400-2 Duration Test
– at least 6 months of operation;
• AWEA 9.1 clause 1.4.1 states that certification to this standard shall be
done by an independent certifying agency such as the Small Wind
Certification Council (SWCC) or a Nationally Recognized Testing
Laboratory (NRTL). Self-certification is not allowed.
• What does it cover?
• Special US definitions and marking requirements
• Performance, acoustic and duration testing similar to IEC, based on
IEC standards methods – IEC 61400-2, -11, -12-1
• Strength and safety analysis and testing similar to IEC
Duration testing for AWEA is similar to IEC. It takes AT LEAST SIX MONTHS and closer to one year to meet all of the other variables in testing. SENY has not even begun a LEGITIMATE certification process. Once more... this is directly from ATA who is NOT a qualified certifier:
ATA is not accredited to do certification, rather we are an analysis and test house that can provide much of the input documentation for certification.
They are NOT becoming certified and the tax credit ends at the end of 2016 anyway. They can't afford to get certified and do not have a product capable of becoming certified. Sheesh, people! Do a little DD! This is a sham and a scam and has been from the very beginning.
Look at that (lack of) volume. I think we have a slight exposure problem. Yesterday's PR was preaching to the choir. They need to get the information out to some fresh faces.
The whole segment has positive momentum and Finjan in particular is winning at a higher rate than anybody else I have seen in protecting their intellectual property.
Everybody here is staying put until the judge's ruling. Keeping $24M of the verdict and adding on some interest and fees would be a great win. Let's hope we hear something soon. Big investor conference next week.
None of the Blue Coat judgment is built-in yet. I hope this judge socks it to them for their stalling. They should be negotiating licensing in good faith and not continuing to rack up legal costs when they are losing their basis to fight it at every level. Patent Office, courts and the jury were all convinced they don't have a leg to stand on. The only way to stop this behavior is through awarding fees, interest and punitive damages to the prevailing party.
Nobody wanted to sell for $1.40 in after hours yesterday, but they sold for $1.32 this morning. Go figure. Oh well... I got some bought cheaper today.
It takes 6 to 12 months to do the durability testing in order to be certified. They have not even BEGUN this yet. They have no product that is deployed doing real-world durability testing which is a REQUIREMENT in order to become certified. They continue to lie when they say they are being certified.
It ain't happening. No revenue possible for this year.
By the way... the investment tax credit was extended. It does NOT run out at the end of this year. That is a moot point regarding SENY since they don't have a product that will ever get certified anyway.
=Any one who states this is a scam has no intellectual knowledge.
LMAO! The "contrarians" have PROVEN that pretty much everything out of Dieter's mouth is a blatant lie. All you have ever said is "trust me".
Proof they lied about patents.
Proof they lied about their "team" and "staff" as their SEC filings say ZERO employees.
Proof they lie in calling themselves a "manufacturer". ZERO revenues since inception per SEC filings.
Proof they lied when claiming they are doing certification now. Letter from company saying they don't do certifications.
Proof it is a lie no major holders are selling. They would be required to file ownership statements if they weren't selling.
Proof that there is minimal short interest and no naked shorting problem. Conclusively proven that Dieter is lying when he claims the volume is coming from "illegal shorting activity". Ha he gone to the authorities if he has proof of illegal activity?
The lies have been conclusively proven. This is a blatant sham and as the lies get bigger, the time to BK gets sooner.
These were BIG wins!
$24M of the $39.5M awarded in the Blue Coat case was for infringing the 844 patent. This is the big one when it comes to potential licensing deals and is part of most of their other ongoing cases. Proofpoint and Symantec both failed to invalidate the 844 patent and a jury was shown the merits in the Blue Coat award.. It is time for these companies to quit stalling and delaying the day they need to pay the piper.
None of these thing are even built into the stock price since there are so many losses when trying to confirm patents. Finjan is truly doing something remarkable and it is about time they were rewarded for it. The story is compelling and I can hardly wait for the upcoming investor conferences!
I raised the Bid by 7 cents in after hours but no takers.
Okay, I placed an order for 3,000 more at $1.40 in After Hours Trading. Figured AH couldn't handle more volume than that. If you have a small amount you want to unload for $1.40... this is your chance.
A couple of stories hit the news last week which might give some in the patent industry reason to hope that the market is beginning to turnaround. First up was the announcement that Erich Spangenberg was joining Marathon Patent Group as director of acquisitions, licensing and strategy.
As Marathon announced the appointment, the IPNav founder made some pretty big comments about the patent market. He declared that there was now a historic opportunity in large part because of the turmoil affecting valuations that had put a lot of large-scale monetisation plans on hold.
In a follow-up email to this blog, Spangenberg provided more detail. “I believe we are at or near the bottom of a very significant repricing of the patent asset class,” he wrote. “As a result, prices have declined, patent owners have become even more desirous of pursuing value creating strategies and new strategies will be deployed.” In short, there are opportunities out there – enough to bring him back into the market, having generally been on the sidelines for the last 18 months or so.
The second story attracted less coverage, but may also support a broader thesis about recovery in the market as investors regain an appetite for IP. On Thursday Finjan, the cyber security company that has an active licensing business as well as an evolving product arm, announced that it had done a $10 million equity fundraising through a fund managed by Halcyon Capital Management and Soryn Capital. Halcyon is a global investment operation with $10 billion under management, so its Finjan investment hardly puts a dent in its coffers; but the fact that a fund of its size is willing to make an IP-heavy play at all is notable.
The rest is on the Finjan website. You don't make 5X returns by following the crowd. You do so by performing your own research and realizing when a sector and a particular company have momentum in their favor and are poised to make a big run.