Finjan Holdings Inc (FNJN)

[lbcb123]

The exact amount they are paying on a contingency basis to keep the costs down is 20%. They have confirmed this once more in yesterday's presentation.

I believe it was $11.6M cash on hand plus $7.6M to be collected in the next 12 - 18 months. Thi does not include Blue Coat or Sophos. Just what is already scheduled. $18M plus CybeRisk being revenue neutral plus Finjan Mobile beginning to earn revenue plus new licensing deals (4 in late stages) is plenty to keep them going.

They also said that CybeRisk made a profit in the third quarter. They gave better guidance on when Finjan Mobile will see the revenue producing Gen4 of their browser released. They now say it is when they have 100,000 downloads and they are halfway there with about 1,000 downloads a day occurring. The revenue will be $5 - $10/month on a subscription basis and they expect initially a 10% conversion from their base or 10,000 subscribers. $50K - $100K a month is a good start and that should grow quickly as they stated Gen4 will include VPN which will make it a very robust solution. I know they are eying big growth on an enterprise basis and they have the management team in place that has the ability to do it.

I agree wholeheartedly that executives and BOD should be buying in the open market at these levels. They should at least exercise their options at $1.20 they gave themselves. Many people would like to see them with more skin in the game.