XpresSpa Group Inc (XSPA)

[Delroy]

ZTE NDA issue. Well hasn't this been a drama. After the gamesmanship shown by zte in Delaware, that Judge's scathing comments towards ZTE, and his comments about Kaplan's unhappiness, which we knew was already significant (so only worse now), I suspect Kaplan is writing a summary opinion as we haven't seen a response to the summary judgement request from VRNG a number of months ago.

ZTE UK Frand / damages hearings.Combined with Injunctive relief in Romania, Brazil, etc should force zte to start being much more reasonable in their approach here. If not they are risking some major issues post their mess in delaware. Let's not forget what Judge Kaplan warned the company about (Penzoil/Texaco), then they go on to behave in the manner they have in delaware. Not very smart. Kaplan was concerned about a company acting in bad faith, they are giving him a track record now.

D-Link likely to settle soon as per pacers we've all seen. Difficult to know if this will be material or not but as one other mentioned, they are US $ 1 billion in revenues per year. It may be a nice win but we shall see. Based on ADT/Tyco unlikely, but we still don't know what those settlements were (better view after his quarter, ie if there was a royalty going forward). Regardless it helps cash burn.