Worlds Inc (WDDD)

[LouisDesyjr]

At the time it did seem reasonable

VRNG did do a few deals to buy other IP property back then, they bought a patent portfolio from Nortel for cash, they did do a deal with Microsoft where it was contingent payments based upon other revenue and VRNG made it clear they were looking for other opportunities, plus Mark Cuban had bought a few million worth of common shares in VRNG and it looked like the case against GOOG was a winner.

WDDD was in a similar situation as VRNG, in that it had a case with the potential of a big payday at the end, the big difference was that WDDD was almost out of cash, but the present value of an expected win in the ATVI case, at that time, was something in the order of a few hundred million, depending on the outcome of a number of variables.

At possible buyout on the order of $50 million by VRNG was not seen as unreasonable at the time, since it would also spread the risk for both VRNG and WDDD shareholders. (i.e. If the big case each company had went bad for whatever reason, the other case would still support the company.)

Louis J. Desy Jr.