PerspectiveI think everyone needs to gain a little perspective. There is now over $200 million in unrestricted cash in the account and booked revenues for the next 5 years that imply cash earnings of at least $80 million per year. If you add that up, that is $600 million which translates into $5 per share. At a $5 level, that implies that the following:
1.) the rest of the patents are worthless
2.) LG with somehow win their legal battle
3.) Somehow all other Vchip infringers will be successful in using LG's defense so there won't be any more Vchip signings
4.) We won't be able to re-sign Nokia, Rim, Samsung
5.) We won't be able to resign all the payments that have been booked for the next 5 years (at the end of the 5 years)
6.) There will be no takeover
7.) The management team will not be able to acquire any new productive patents
8.) Gladios will turn out to be a bust
9.) The Wi-Lan research team will not be able to produce anything of value, including new patents
If you believe all these things will turn out to be true, you need to give you head a shake. Most of these items, if they come out in Wi-Lan's favour are worth at least $1 per share EACH.
This is still an extremely safe equity investment relative to most of the stocks out there, especially the Nasdaq.
Chi