the analyst of CIBCImmediatetly after wilan lost in Texas court several years ago, he valued wilan nothing but the cash and backlog. Since then he has repeated this view in his every report after. That's why he ketp asking wilan's noing but backlog and cash amount at the conference call.
As an analyst of investment banking. If the company, in his view, has no potential to grow but only use up its cash, make me wonder why he has continued to cover the company? In my view the analyst of CIBC is simply acting as "anti patent trolls“ companies' voice.