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April 28th post trial motions for Bluecoat decision. Proofpoint trial is June 13th. That's it for this year as far as I'm aware. These could be huge events but management does NOTHING to inform potential investors/traders other than a press release which goes mostly unnoticed.
Cyberisk or whatever it's called has yet to generate $1 of revenue as far as I am aware. that is very concerning to me. I really resent managements nonchalant attitude toward the sinking share price. on the next pop, if it comes, I'm out and moving on unless there are significant other developments. I hope the Finjan IR's read this, they are WORTHLESS. Tell me that insiders can't buy due to knowledge of siginificant events, but no events ever happen. They are lying liars. Insiders should be gobbling up shares at these prices.
Seriously though, with other IP news happening all the time this stock should be getting some traction. With a little promotion and main stream media print we wouldn't be where we are today in terms of share price. Management may be good at suing other companies, but they are TERRIBLE at maintaining shareholder value and marketing an investment opportunity. oh, And @stocknewsnow is a joke (message to the CFO who I believe owns part of it)
Still here, still holding my shares and averaged down a little recently. But I'm not happy about it. Management is absolutely inept at creating excitement about their stock and maintaining shareholder value.
That sounds like a bad joke.
Let me start by saying I'm highly irritated with the insider selling. CEO selling 20000 to pay taxes on compensatory shares sent us to the current level. Each time there is a press release the insiders sell some stock to pay taxes on shares given to them and that is probably the reason for this PR today and the selling today.
Regarding the 6 million in cash, they spent A LOT more on the Blue Coat trail then they intended. In post trial motions they are asking for BC to pay their legal costs. It appears at this time the judge is highly irritated with Blue Coat for ignoring her instructions so it would surprise me if she did not award part if not all of their costs. However, it is unlikely Finjan will realize any of the settlement until 2017. Last year they supposedly collected 5 million in licensing fees, so at this time they should have 11 million in cash. They state they booked an additional 5 million in licensing fees due this year, so that takes them to 16 million for 2016.
"We are currently in default under the terms of our $600,000 unsecured promissory note due December 17, 2015, plus accrued interest of $56,416 as of September 30, 2015, as a result of our borrowings on October 6 and October 12, 2015, in the amounts of $59,000 and $102,000, respectively. Under the terms of the $600,000 promissory note we agreed to not incur any indebtedness until the promissory note and accrued interest were paid in full."
- one of the highlights from the 10q filed on the 16th
Finjan: New License With Avast, And More Expected
Nov. 18, 2015 2:34 PM • FNJN
Summary
New $3 million license with Avast will be booked in Q4 2015.
More expected according to 10-Q language.
Link to seeking alpha article:
http://seekingalpha.com/article/3692876-finjan-new-license-with-avast-and-more-expected
Avast agreed to license Finjan's (NASDAQ:FNJN) patents and will pay the company $2.975 million by November 30, 2015. As a result, we are raising revenues and earnings estimates for Q4 2015, and therefore the year. Avast Software, located in Redwood City, California, reported revenues of $217 million in 2014, up 51% from 2013, and has been growing 56% per year since 2008. It claims 230 million users and 30 percent of the consumer PCs in the world outside of China.
I guess the market disagrees with me.
But you just said you made 8% which means you sold for a profit and only 250 shares have moved lately. So you didn't make 8% or what?
So you just sold you 250 shares at
.3499? So you made about $7? And after broker commissions you lost like $3?
Hilarious. Thanks, needed a laugh.
I think it is hilarious how people cheer for a stock like they would a sports team.
This is a big deal. Excellent news.
CybeRisk(TM) Announces Go-To-Market Partnership With RiskLens to Launch Complementary Advisory Services
EAST PALO ALTO, CA--(Marketwired - Nov 17, 2015) - Finjan Holdings, Inc. (NASDAQ: FNJN) a cybersecurity company, today announced that its wholly owned subsidiary, CybeRisk Security Solutions, LTD., a cybersecurity risk advisory services business, ("CybeRisk") has signed a partnership with RiskLens, the premier provider of cyber risk management software. RiskLens uses an established statistical methodology to assess and quantify the financial risk of a company's exposure in cyber related breaches, called FAIR, the only international standard Value-at-Risk model for information security and operational risk. This methodology looks at risk from three vantage points: the amount of potential loss, the probability of that amount of loss and the time frame. Output from this methodology provides customers an opportunity to be aware of, prepare for, and better protect against cyber related disruptions and loss to their businesses. The implications are many, and range from the SEC paying more attention to breaches and disclosure guidelines to insurance providers transitioning to more specific policies for cyber breach coverage. "While cybersecurity threats are all too real and the potential consequences severe, quantitative cyber risk assessment is a relatively new concept," said Yoram Golandsky, CEO of CybeRisk. "The importance of customers understanding their risk exposure, prioritizing their risk mitigations and clearly understanding the ROI of their security investments is a crucial step as we go-to-market with our advisory services. Our partnership with RiskLens not only allows us to offer a clear quantification of risk to our customers but also expands our customer reach and global market opportunity." "Insurance firms began to recognize the issue of cyber risk over a decade ago. As a CISO at a large insurance firm I was faced with the absence of standard cyber risk quanitification methodologies and tools to answer the business question of how to value cyber risk and how to justify my security budget," said Jack Jones, Co-Founder and EVP of R&D for RiskLens. "RiskLens software enables companies across various sectors to quantify and report on cyber risk in an effective and meaningful way. Our partnership with CybeRisk allows us to deepen the relationship with our customers to not just quantify their risk but to help manage and mitigate it across business processes and technology domains."
@LTommy256: Avast license: agreed to pay Finjan $2.975 million in cash within fourteen (14) days of the effective date. So Q 2015. $FNJN
https://twitter.com/ltommy256/status/666256824065126400
Agree 100000000%.
Why is that?
NEXT EVENTS We are still waiting for the results of the Markman hearing with Proofpoint that took place on June 24, 2015. The judge as explained above has stayed the results from the Markman hearing with Symantec that occurred on June 29, 2015. The Proofpoint trial is scheduled to start March 7, 2016.
Blue Coat Should Be Recognized in 2017 By mid-2017, the appeal in the Blue Coat trial should be settled and if the appeal is denied Finjan will collect $39.5 million for the judgment and 10% interest per year since August 5, 2015 on the $39.5 million which may be $900,000 or so. In addition, more money will accrue from the products that Blue Coat has sold since August 5, 2015.The biggest cost difference for the company will be for taxes paid on this judgment. We believe the company has at least $2 million tax loss carry forward to be subtracted off the 35% US and 8.86% California tax rates.
We are lowering our 2016 revenue forecast to reflect a shift of the revenues from the Blue Coat win to mid-2017. We are assuming over the course of the year other companies will license resulting in total revenues of $13 million. This comprised of $9 million in new licenses, the $2 million owed by Websense to be paid in Q1 and $2 million projected for the new cybersecurity consulting business.
We anticipate slightly higher spending on SG&A, half of which will be to support the Proofpoint and Sophos trials. With these revenues and expenses we expect a reported loss per share of $0.37 per share or $8.3 million.
Q4 and 2015 Annual Forecasts
Although impossible to forecast, we are assuming no additional licensing deals this year. For now we are keeping revenues only from the consulting business in our estimate. We expect that new business to show its first revenues shortly. With minimal revenue expected and only a slight reduction in SG&A for Q4 we are forecasting a loss of $0.18 per share for the quarter, or $4 million. This will result in a loss of $0.74 per share for the year on revenues of $1 million.
The company burned $4.5 million in cash in Q3 2015 versus $3.8 million in the June quarter. By January 15, 2016 it will receive another $2 million, and another $300,000 by March 30, 2016 from previously scheduled payments. With $7.2 million in cash as of September 30, it has just over 6 months of cash at that burn rate, although in the 10Q the company states it believes it has 12 months reserve based on what it knows. This leads us to conclude that they have a very high likelihood of new licensing deals or settlements in the next few months or they would not have put that language in the 10Q. (For now we are keeping revenues only from the consulting business in our estimate.)
Finjan reported no revenues in Q3. Operating costs for the quarter were broken down for the first time between SG&A and R&D and the two together were $4.7 million versus $3.5 million last year and up $137,000 since the June quarter of 2015 rather than down as we had expected with the Blue Coat trial over. The company ended up spending more on expert witnesses and on introducing evidence that it had expected, but costs should decline in Q4.
Per Zacks: Finjans 10q alludes to new license deals
After Finjan’s (NASDAQ:FNJN) win against Blue Coat, we had hoped that licensing deals would accelerate, but Q3 has come and gone without a new one. Additionally, Finjan v. Palo Alto Networks (PANW) has been reassigned and all pending dates will be reset in accordance with the new judges calendar. In Finjan v. Symantec (SYMC), the judge has stayed the case pending a decision by the US Patent and Trademark Office (USPTO) on whether to institute Inter Partes Review (IPR) of Finjan's patent claims in five of eight patents asserted against Symantec. Depending on the PTAB's decision on whether or not to institute those IPRs, the judge will determine whether to extend the stay. This pushes out the calendar on the largest possible win due to the size of Symantec’s revenues in cybersecurity.
However the 10Q, by maintaining the company has enough cash to fund operations for the next 12 months, hints that new deals will soon be reached given its plans and current cash burn do not support that time period.
I hear you, Galil has a sordid past with mergers. 26 million is a lot to raise. I seriously doubt they will be able to do it but I sincerely hope they do for shareholders here.
I agree with you.
Held shares here for a long time, sold a bunch on bluecoat news, should have sold it all. Was thinking of buying back until the q Monday. Now on the fence. Worried about equity raise/dilution and how bad they are bleeding cash for what appears to be insider comp.
Anyone here? Or am I talking to myself? LOL
At lease the bottom didn't fall out. Still scratching my head on what they spent 5 million in 3 months on. Must be all salaries and travel.
Bunk. No new updates, this is just a summary of things we already know. Still do not understand what they spent $5million on last quarter.
Finjan Provides Shareholders With Update for the 3rd Quarter of 2015
NOVEMBER 10, 2015
Received Favorable Ruling in Blue Coat Trial Launched New Businesses -- CybeRisk(TM) Security Solutions Ltd. and Finjan's Mobile Secure Browser
EAST PALO ALTO, CA -- (Marketwired) -- 11/10/15 -- Finjan Holdings, Inc. (NASDAQ: FNJN) a cybersecurity company, is providing shareholders with an update on its key accomplishments during its third quarter ended September 30, 2015 and other subsequent events.
Strategic Highlights:
Ruling in favor of Finjan for nearly $40 million in damages as a result of Finjan patents being found valid and infringed by a jury at the conclusion of the Blue Coat trial;
Continued to increase CybeRiskâ„¢ Security Solutions Ltd. presence with recent expansion into the United Kingdom;
Reentered the world of development with release of the Finjan Mobile Secure Browser available for Apple and Android platform devices;
United States Patent and Trademark office (USPTO) granted Finjan Inc. its 23rd U.S. Patent, the '786 patent for Malicious Mobile Code Protection;
Patent Trial and Appeal Board (PTAB) denied dual petitions for inter partes review (IPR) by Sophos for Finjan's patents '494 and '926;
Reported $7.2 million in cash with an additional $2.3 million to be paid from existing license agreements over the next five months; and
Announced appointment of new board member, Gary Moore, previous President and COO of Cisco.
"The third quarter represented one of growth after the announcement of our two new emerging businesses units, mobile security and cybersecurity advisory services. We recently launched our first mobile security product in the Finjan Mobile Secure Browser, established our international CybeRisk Security Solutions advisory business in Israel, and continue to have our innovation recognized by the US Patent Office with the issuance of our 23rd US patent. We are ahead of plan for our advisory business with the recent expansion of CybeRisk into London and the addition of Gary Moore to the Finjan Board to provide guidance on our growth and expansion globally," said Phil Hartstein, President and CEO of Finjan. "As we look ahead we remain enthusiastic about our diversification as a public company focused in the cybersecurity sector. We carefully manage our cash position while balancing our 20 years of expertise in technology investments to create long-term value for our licensees, shareholders and investors."
Third Quarter Licensing and Litigation Review:
On August 4, 2015, the jury in Finjan, Inc. v. Blue Coat Systems Inc. (5:13-cv-03999-BLF) returned a unanimous verdict that each of the Finjan asserted patents are valid and enforceable. Further, the jury returned a unanimous verdict that Finjan's U.S. Patent Nos. 6,154,844 (the "'844 Patent"), 6,804,780 (the "'780 Patent"), 6,965,968 (the "'968 Patent"), and the 7,418,731 (the "'731 Patent") were literally infringed by Blue Coat, and that U.S. Patent No. 7,647,633 (the "'633 Patent") was infringed by Blue Coat under the Doctrine of Equivalents. Upon the findings of infringement, the jury also decided that Finjan was entitled to $39.5 million in damages as reasonable royalties for Blue Coat's infringement.
On July 15, 2015 Finjan also filed a second patent infringement lawsuit against Blue Coat Systems, Inc. (Blue Coat), alleging infringement of seven Finjan patents relating to new infringing Blue Coat products and services. The Complaint (5:15-cv-03295, Docket No. 1), filed July 15, 2015, in the U.S. District Court for the Northern District of California, alleges that Blue Coat's new products and services infringe seven Finjan patents. In particular, Finjan is asserting infringement of U.S. Patent Nos. 6,154,844; 6,965,968; 7,418,731; 8,079,086; 8,225,408; 8,566,580; 8,677,494; four of which are being asserted against Blue Coat for the first time.
In Finjan, Inc. v. Palo Alto Networks, Inc. (3:14-cv-04908-EMC, Docket: 56), the matter has been reassigned from Honorable Judge Edward Chen in the San Francisco division to the Honorable Judge Phyllis Hamilton, the Chief Judge in the Oakland division (4:14-cv-04908-PJH, Docket: 57). Although a trial date had not yet been set by Judge Chen, all pending dates set by Judge Chen will be reset by Judge Hamilton in accordance with her calendar.
In Finjan, Inc. v. Symantec Corp. (3:14-cv-02998, Docket: 108), the Honorable Judge Haywood S. Gilliam, Jr. presiding in the San Francisco division has stayed the case pending a decision by the US Patent and Trademark Office (USPTO) on whether to institute Inter Partes Review (IPR) of Finjan's patent claims in five of eight patents asserted against Symantec. An IPR is a trial proceeding conducted at the Patent Trial and Appeal Board (PTAB) of the USPTO to review the patentability of claims in a patent. Depending on the PTAB's decision on whether or not to institute those IPRs, Judge Gilliam will determine whether to extend the stay.
ABOUT FINJAN
Established nearly 20 years ago, Finjan is a globally recognized leader in cybersecurity. Finjan's inventions are embedded within a strong portfolio of patents focusing on software and hardware technologies capable of proactively detecting previously unknown and emerging threats on a real-time, behavior-based basis. Finjan continues to grow through investments in innovation, strategic acquisitions, and partnerships promoting economic advancement and job creation. For more information, please visit www.finjan.com.
Follow Finjan Holdings, Inc.:
Twitter: @FinjanHoldings
LinkedIn: linkedin.com/company/finjan
Facebook: facebook.com/FinjanHoldings
Finjan Mobile Defense Challenge 2015: contest.finjan.com
Cautionary Note Regarding Forward-Looking Statements
Except for historical information, the matters set forth herein that are forward-looking statements involve certain risks and uncertainties that could cause actual results to differ. Potential risks and uncertainties include, but are not limited to, the outcome of pending or future enforcement actions, our ability to expand our technology portfolio, the enforceability of our patents, the continued use of our technologies in the market, our stock price, changes in the trading market for our securities, regulatory developments, general economic and market conditions, the market acceptance and successful business, technical and economic implementation of Finjan Holdings' intended plan; and the other risk factors set forth from time to time in our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2014, and the Company's periodic filings with the SEC, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Finjan Holdings, Inc. All forward-looking statements herein reflect our opinions only as of the date of this release, and Finjan Holdings undertakes no obligation, and expressly disclaims any obligation, to update forward-looking statements herein in light of new information or future events.
Media Contact:
Nicholas Gaffney
Zumado Public Relations
(415) 732-7801
ngaffney@zumado.com
Investor Contact:
Vanessa Winter
Finjan
Alan Sheinwald or Valter Pinto
Capital Markets Group LLC
(650) 282-3245
investors@finjan.com
Source: Finjan Holdings
Released November 10, 2015
Agreed.
It's a consulting business, and they haven't done jack with the mobile app contest. They have explaining to do. I'm sure they will follow with an update in the morning but dam, they could be out of cash by EOY, or shortly there after. And I read where that service they use to do their interviews is 50% owned by the CFO. What a joke.
What in the hell did they spend $5,000,000 on in 3 months?
Did you read it? Ugh.
10q today?
Quarterly is due, let's take a poll:
1. Will they file on time? Yes or no
2. Will they have any revenue? Yes or no
3. Will their losses be more or less than last quarter?
Insiders should be buying,
Not selling. Don't care if they are "paying their taxes" on contributory shares handed to them. They all have high salaries, they can afford to pay the dam taxes instead of selling. They should be gobbling up shares at these levels.
LOL. Feel bad for share holders.
Sorry man. It needs substantial revenue generating news. We are due for a 10q, maybe there will be good news there, I hope so anyway. Maybe a license deal or a client landed for cyberisk because there probably won't be any lawsuit news for a long time as far as I can tell. Do you follow their cases on pacer.gov?
FYI. And not that I think anyone cares, but I don't own share of any Canadian company at this time and no I'm not a short. I just think good buddy is hilarious, esp when he out right makes up things in his pumps.
This one is my favorite:
No wonder You only got 26 Followers.
You do not know how to research a stock