Why would they need to dilute? It doesn't appear you have done much research into their cash flow. With cash on hand plus revenue already scheduled in the coming months from previous deals, they have enough to get through until collecting from Blue Coat. CybeRisk is also about revenue neutral now. Finjan Mobile will begin earning revenue in a month or two.
You also need to do some research into their litigation costs. They hedged some cases by creative fee agreements instead of paying hourly charges. They are jut fine on what they need to pay in fees for the upcoming year.
IF they needed cash, they can simply do licensing deals at a discount instead of top dollar. They indicated they have received counter-offers, so they can accept those amounts whenever they want instead of holding out for fair value.
I get the frustration aspect, but the facts do not support upcoming dilution.
You also are failing to grasp the nuances in the various cases as indicated by your other comments. As an example, you state the ESET case is partially dismissed. ESET filed a case against Finjan in retaliation for the Finjan filing. It was that case that was dismissed so it could be transferred to the Northern District of California and combined with the Finjan filing.
Good luck to you. Do proper DD and have realistic time frame expectations and you will see they are making progress on schedule.
