Finjan Holdings Inc (FNJN)

[lbcb123]

I go to finjanmobile.com. From there you click on the links for the Google Play Store and Apple Store to download the browser. You will be able to see things like browser version, price, reviews etc. I went there today to see what the number of new reviews was and to see what people think of it. I saw version 4 was the current version as of August 18, 2018 (today) so it had just been made available. I also noticed it is still a free version when they have been saying for over a year that Gen 4 with the VPN would be their first paid for version. My guess is with the recent poor reviews and so few downloads they didn't think anyone would pay for it and it is still a free download.

If you were around last year, CybeRisk was their whole effort and they expected it to be "accretive to earnings by the end of the year". The head of CybeRisk jumped ship and they have done NOTHING with it since and aren't intending to try as they are no longer advertising to fill positions for it. When CybeRisk failed miserably they turned attention to Finjan Mobile. They expected to release Gen 4 and begin earning revenue from it last year. It appears the developer for the browser also jumped ship and they kept delaying the release with the VPN and then had to pay $4M for someone else's VPN after claiming it was all done and just waiting for 100K downloads.

The missed guidance and outright lies are numerous and available to anybody who wants to review their past press releases and 8-Ks. The browser is getting poor reviews and the licensing revenue is coming to an end. That is why the funds with longer time horizons are rotating out.