Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Medovex Corp. to Present at the LD Micro Invitational Conference on June 2, 2015
ATLANTA, GA -- (Marketwired) -- 05/11/15 -- Medovex Corp. (NASDAQ: MDVX), a developer of medical technology products, announced today that CEO Jarrett Gorlin and President and COO Patrick Kullmann will be presenting at the LD Micro Invitational on Tuesday, June 2nd at 12:00 PM PDT / 3:00 PM EDT.
"We are glad to welcome the Medovex team to the Invitational," commented Chris Lahiji, President of LD Micro."
The presentation will be webcast and available at the company's website in the investor relations section, or at: http://wsw.com/webcast/ldmicro8/mdvx/
The conference will be held at the Luxe Sunset Bel Air Hotel, and will feature 185 companies in the small / micro-cap space.
About Medovex:
Medovex was formed to acquire and develop a diversified portfolio of potentially ground breaking medical technology products. Criteria for selection include those products with potential for significant improvement in the quality of patient care delivery combined with cost effectiveness. Medovex's first pipeline product, the DenerveX™ device and generator, is intended to provide long lasting relief from pain associated with facet joint syndrome at significantly less cost than currently available surgical options. To learn more about Medovex Corp., visit www.medovex.com
Safe Harbor Statement:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While Medovex believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including the risks that the Streamline ISS product may not prove to be efficient, that the Company will not be able to form a satisfactory U.S. marketing relationship, and that the Company's product may not prove effective in increasing the safety of intra-hospital patient transport, as well as the risks identified in the Company's filings with the Securities and Exchange Commission (the "SEC"), including but not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
Management continues to execute!
SilverSun Technologies Signs Letter of Intent to Acquire Managed Service Provider
NJ MSP's 2014 Revenue Exceeded $1.7 Million
LIVINGSTON, NJ--(Marketwired - May 11, 2015) - SilverSun Technologies, Inc. (OTCQB: SSNT) (OTCBB: SSNT) announced today that its wholly owned subsidiary, SWK Technologies, Inc., a national provider of transformational business technology solutions and services, has signed a letter of intent to acquire ProductiveTech, Inc. ("PTI"), a New Jersey-based managed service provider ("MSP") that provides 24/7/365 remote network monitoring, data backup, business continuity and cloud computing services.
Founded in 1984, PTI is the pre-eminent computer and network services company serving Southern New Jersey, Eastern Pennsylvania, and Northern Delaware. The deal is expected to add, based on 2014 financials, more than $1,700,000 in annualized revenue, $930,000 of which was recurring subscription revenue. It is anticipated that the transaction, which is subject to the signing of definitive agreements and customary closing conditions, will close in the second quarter of 2015. The terms of the transaction were not disclosed.
Mark Meller, CEO of SilverSun, stated, "Our MSP practice has been rapidly growing, but the business has essentially been a local one, servicing customers in the New York City metropolitan area. Our plan has always been to expand our geographic reach to regions where we currently have customers from our other technology businesses, such as Chicago, Dallas, Phoenix, Southern California, and Syracuse, NY. The acquisition of PTI will allow us to cover the entire state of New Jersey and will add management skills and technical resources permitting us to establish and/or acquire managed service practices in these other regions."
Jeffrey D. Roth, CEO of SWK Technologies, commented, "The management team at ProductiveTech, Inc. impressed us. We were looking to expand our MSP practice into central and southern New Jersey but required high-level technical skills and skilled executives to lead us there. We have found a winning formula with ProductiveTech to accomplish this. We're looking forward to all that we can achieve by the powerful combination of the SWK and PTI managed services teams."
About SilverSun Technologies, Inc.
We are a business application, technology and consulting company providing strategies and solutions to meet our clients' information, technology and business management needs. Our services and technologies enable customers to manage, protect and monetize their enterprise assets whether on-premise or in the "Cloud". As a value added reseller of business application software, we offer solutions for accounting and business management, financial reporting, Enterprise Resource Planning ("ERP"), Warehouse Management Systems, Customer Relationship Management, and Business Intelligence. Additionally, we have our own development staff building software solutions for Electronic Data Interchange, time and billing, and various ERP enhancements. Our value-added services focus on consulting and professional services, specialized programming, training, and technical support. We have a dedicated network services practice that provides managed services, hosting, business continuity, cloud, e-mail and web services. Our customers are nationwide, with concentrations in the New York/New Jersey metropolitan area, Chicago, Dallas, Arizona and Southern California.
For additional information, visit SilverSun's corporate website: www.silversuntech.com
Marathon Patent Group to Present at the LD Micro Invitational Conference on June 2
LOS ANGELES, CA--(Marketwired - May 11, 2015) - Marathon Patent Group, Inc. (NASDAQ: MARA) ("Marathon"), a patent licensing company, announced today that CEO Doug Croxall will be presenting at the LD Micro Invitational on Tuesday, June 2nd at 10:00 AM PDT / 1:00 PM EDT.
"We are glad to welcome Doug and Marathon back to the Invitational," commented Chris Lahiji, President of LD Micro. "Doug gave one of the most talked about presentations to a standing room only crowd at our last conference. We expect his presentation at the Invitational to be met with similar enthusiasm."
The presentation will be webcast and available at the company's website in the investor relations section, or at: http://wsw.com/webcast/ldmicro8/mara/
The conference will be held at the Luxe Sunset Bel Air Hotel, and will feature 185 companies in the small / micro-cap space.
About Marathon Patent Group
Marathon is a patent acquisition and monetization company. The Company acquires patents from a wide-range of patent holders from individual inventors to Fortune 500 companies. Marathon's strategy of acquiring patents that cover a wide-range of subject matter allows the Company to achieve diversity within its patent asset portfolio. Marathon generates revenue with its diversified portfolio through actively managed concurrent patent rights enforcement campaigns. This approach is expected to result in a long-term, diversified revenue stream. To learn more about Marathon Patent Group, visit www.marathonpg.com.
Flash Note from Northland
Marathon Patent Group (MARA)
Another IPR Victory
Key Points
Marathon has had a strong track record with IPRs. That continued this week with the USPTO denying a defendant's petition for an IPR. We attribute such success to Marathon's patent analysis capabilities, including use of proprietary algorithms to analyze patent strength. Marathon developed such algorithms over several years. IPRs effectively determine if a patent is valid, i.e., if there is prior art. When an IPR is denied, or not instituted, the defendants cannot challenge validity at trial. This greatly strengthens the plaintiff's case.
Marathon Patent Group to Announce First Quarter Financial Results on May 14, 2015
May 08, 2015
?
LOS ANGELES, CA -- (Marketwired) -- 05/08/15 -- Marathon Patent Group, Inc. (NASDAQ: MARA) ("Marathon"), a patent licensing company, announced today that the Company will issue financial results for its first quarter financial results after the market closes on Thursday, May 14, 2015.
Marathon will host a corresponding conference call to discuss the results with Chief Executive Officer Doug Croxall and Chief Financial Officer Frank Knuettel II on Thursday May 14, 2015 at 4:30 PM ET/1:30 PM PT. To participate in the conference call, investors from the U.S. and Canada should dial (877) 407-0784 ten minutes prior to the scheduled start time. International calls should dial (201) 689-8560.
In addition, the call will be broadcast live over the Internet and can be accessed through the Investor Relations section of the Company's website at www.marathonpg.com. The broadcast will be archived online upon completion of the conference call. A telephonic replay of the conference call will also be available until 11:59 p.m. ET on Thursday, May 28, 2015 by dialing (877) 870-5176 in the U.S. and Canada and (858) 384-5517 internationally and entering the pin number: 13609019.
About Marathon Patent Group:
Marathon is a patent acquisition and monetization company. The Company acquires patents from a wide-range of patent holders from individual inventors to Fortune 500 companies. Marathon's strategy of acquiring patents that cover a wide-range of subject matter allows the Company to achieve diversity within its patent asset portfolio. Marathon generates revenue with its diversified portfolio through actively managed concurrent patent rights enforcement campaigns. This approach is expected to result in a long-term, diversified revenue stream. To learn more about Marathon Patent Group, visit www.marathonpg.com.
Safe Harbor Statement:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
Marathon Patent Group Announces That the USPTO Has Denied Unified Patents Inc. Petition for Inter Partes Review of CRFD Research, Inc. '233 Patent
LOS ANGELES, CA -- (Marketwired) -- 05/07/15 -- Marathon Patent Group, Inc. (NASDAQ: MARA) ("Marathon"), a patent licensing company, announced today that on April 30, 2015, the Patent Trial and Appeal Board ("PTAB") of the United States Patent and Trademark Office ("USPTO") denied a petition for inter partes review ("IPR"), IPR2015-00157, filed by Unified Patents Inc. against Marathon subsidiary CRFD Research, Inc.'s U.S. Patent No. 7,1919,233 B2 ("'233 Patent").
The PTAB ruled: "We conclude that Petitioner has not demonstrated a reasonable likelihood that at least one of the challenged claims of the '233 patent is unpatentable based on the asserted grounds. Therefore, we do not institute an inter partes review on any of the asserted grounds as to any of the challenged claims."
"We are pleased with the USPTO's decision denying Unified Patents Inc.'s IPR petition," said Doug Croxall, Founder and CEO of Marathon Patent Group. "This ruling, along with those that have proceeded it, continue to demonstrate the value of our proprietary process to assess, value, and acquire high quality patent assets that have the potential of generating meaningful return on investment for both the company and its shareholders."
There remain three pending IPRs related to the '233 Patent. IPR2015-00055, filed by Iron Dome, was instituted with respect to only 8 of the 17 claims included in Iron Dome's IPR petition. The PTAB declined to institute the Iron Dome IPR for several claims asserted in litigation. IPR institution of IPR2015-00259, filed by Netflix, Hulu, and Spotify, and IPR2015-00627, filed by DISH and EchoStar, has yet to be decided.
About Marathon Patent Group
Marathon is a patent acquisition and monetization company. The Company acquires patents from a wide-range of patent holders from individual inventors to Fortune 500 companies. Marathon's strategy of acquiring patents that cover a wide-range of subject matter allows the Company to achieve diversity within its patent asset portfolio. Marathon generates revenue with its diversified portfolio through actively managed concurrent patent rights enforcement campaigns. This approach is expected to result in a long-term, diversified revenue stream. To learn more about Marathon Patent Group, visit www.marathonpg.com.
Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
http://www.hill-rom.com/usa/
Hill-Rom is a leading global medical technology company with more than 7,000 employees worldwide. We partner with health care providers in more than 100 countries by focusing on patient care solutions that improve clinical and economic outcomes in five core areas: Advancing Mobility, Wound Care and Prevention, Clinical Workflow, Surgical Safety and Efficiency, and Respiratory Health. Hill-Rom's people, products, and programs work towards one mission: Every day, around the world, we enhance outcomes for patients and their caregivers.
They will do almost $2B in revenue this year it appears. $475M in just their Q2 just reported.
Pretty strong partner for a company Medovex's size.
Totally agree with your assessment on the valuation. It's very cheap relative to any and all comps, and the space in general.
The results speak for themselves, very impressive. Meller continues to execute.
Thank you wannabeeinhorn. Totally agree.
Like I said, I personally have spent time with Andy and Amy. I'm a fan of them both personally and professionally. They are fundamentally good people who have both amassed a long list of accomplishments in the exact space they operate in today.
Importantly, this company and its mission is highly personal to them. There's not a shred of doubt in my mind that they have shareholders best interest in mind and will continue to work on our behalf.
I too expect we will likely see them and their team create meaningful value going forward.
Appreciate you and the value you bring to fellow Marathon shareholders through your efforts.
Quality of your work is always exceptional and invaluable in my eyes.
Impressed with ACTG's numbers Flyers. Could be exactly what was needed to get that pendulum finally going the other direction for both it and Marathon.
Amy and Andy Heyward are wonderful people. I have spent time with them and know exactly what makes them tick. They are highly accomplished in this exact space, and incredibly passionate about what they're doing. This company's direction and success is highly personal to them both.
Suffice it to say, I believe shareholders are in quality hands with them at the helm. Importantly, their goals are completely aligned with shareholders and they've put their own money where their mouth is.
In addition, not only do I think highly of them both, but they have also amassed an amazing team around them. The depth of talent speaks for itself.
Nothing is ever easy and great things take time. That said, it's the people behind a company that are ultimately are tasked with creating value. Uniquely, this company has a collection of exceptional talent involved in it.
I fully expect that together, they will continue to drive very tangible results for shareholders.
What do you make of that?
smallotcinvestor,
Appreciate your thoughts, thank you!
Amazing work as usual flyers, thank you for sharing.
Can you give me your quick thoughts on something. I have always understood that you really can’t judge a Markman hearing by how many claim terms are ruled in favor of one party or the other, you judge the value of a Markman ruling based on the following:
1.) how many asserted claims and/or patents are still in suit
2.) did the infringement theory based on #1 above against each defendant get better, or worse, or stay the same
3.) based on #2 above, did damages get better, or worse, or stay the same
Isn't it difficult to do as some others do, not you obviously, but trying to evaluate a Markman Ruling on just the number of claim terms in a multi-patent case (like Signal IP)?
Correct me if I'm wrong but wasn't Signal IP was set up to have multiple patents asserted against each defendant covering multiple technology areas of a car? Isn't it ultimately that which drives the highest possible potential damages number at trial and therefore the highest possible settlement value?
Ed,
Volvo was previously announced:
http://www.marathonpg.com/news/press-releases/detail/974/marathon-patent-groups-wholly-owned-subsidiary-signal-ip
Regarding a settlement with Jaguar Land Rover North America, LLC., you appear correct regarding the parties having reached a "settlement agreement in principle".
In the Joint Post-Markman Report, Page 3, it states "Plaintiff has also reached a settlement agreement in principle with JLRNA.” (Jaguar Land Rover North America, LLC is abbreviated by “JLRNA.”)
Page 5: “JLRNA confirms that it has reached a settlement agreement in principle with Plaintiff and that mediation is unnecessary.”
Northland Capital
Marathon Patent Group (MARA)
Signaling Success
Summary
On Friday the court in the Signal IP litigation issued its Markman ruling. Our interpretation is that the result is solidly in MARA's favor, with the vast majority of terms being defined in MARA's favor. We'd expect several claims per defendant to remain in tact, setting MARA up well for trial. Signal IP is a top five patent portfolio for MARA; the company claimed $1.4+ bil in damages related to the car safety and driving patents.
Key Points
Signal IP Patents. The Signal IP patents relate to the automotive and related industries in the areas of occupant restraint and safety systems as well as automotive-centric communications methodologies (such as sensing and detection technologies). Specific functions covered by the patents include adaptive cruise control, parking assist, air bag deployment and crash avoidance. Marathon originally obtained the patents from Delphi, which is a $17 bil automotive technology company. The fact that such a large company would entrust Marathon with patent assertion efforts is an additional sign of Marathon's market credibility. The Signal IP portfolio is a top five portfolio for MARA in terms of potential damages we believe.
Defendants. The 12 defendants include a comprehensive list of the leading auto manufacturers, including Ford, Honda, Nissan, VW and Mercedes. In the initial complaint filing, MARA claimed $1.4+ bil in damages in total against the companies. MARA already settled with Volvo prior to the Markman.
Markman Ruling. The court issued its Markman ruling last Friday, only a few weeks after the original hearing. Time to decisions usually takes a few months. Our initial review of the results is that the vast majority of the terms are defined in MARA's favor. A few of the ones that appear to be in favor of the defendants relate to just a few defendants and not the full list. This ruling sets MARA up well to have a sufficient number of claims per defendant going forward, and thus, well positioned heading into trial.
More 2Q Activity. MARA has a large economic interest in a trial related to tire pressure technology in June. We view this as a top five opportunity for MARA as well. We believe the plaintiff in this case is a large corporation that decided to use MARA's services after negotiating against them in another situation (further validation of MARA's market credibility). MARA also has a nullity (validity) hearing in June, and success there could provide a major catalyst to settle given potential injunctions in Germany. During the first week of July, MARA has several trial dates. Sometimes cases are settled prior to trial. Furthermore, MARA has spent over two years laying the foundation for 2015 and 2016, where the company now has numerous potential revenue-generating events.
Anyone have any opinions on the conference call held Friday?
They don't need more of what they already have and that's all HIPP would have given them. Plus HIPP was so mis-managed that it could have drug SITO down with it. What this company should be looking at is acquiring a mobile marketing and payment company. That would be an interesting turn of events here. Thy need to do something because with their customer concentration with WMT and a space that trades at low multiples, this one could easily fall more in line with comps in their space. At this price, they are still trading 3-4X TTM sales which is pricey compared to others.
Marathon Patent Group (MARA) Quarter Update; Reiterating Outperform Rating
Summary
Given the announcements in 1Q, and in particular the licensing of the Vantage Point patents, we expect the company can post numbers at least in line with our estimates. 2Q holds substantial events including a Markman ruling (potentially next week) on Signal IP, a trial in early June, and a nullity (validity hearing) in Germany. Also, numerous trials are slated for July 1, providing the potential for 2Q settlements.
Key Points
Vantage Point settlements. On Feb 26, Marathon announced a licensing agreement with 14 defendants, including Broadcom, Marvell and Freescale. The Vantage Point patents relate to processor technology in mobile devices. We believe this settlement was the largest revenue generator in 1Q, and gives us confidence the company can at least make our 1Q estimates. Vantage Point is a solid set of patents, but we would not put the addressable market in the top five portfolios for Marathon. Given the patents relate to a discrete function on mobile devices (and hence a royalty rate on a small apportioned value of a phone), we believe the settlement value per defendant is probably in-line with an average settlement to date, or $150k-$250k. This would put total value of the settlements at $2.5+ mil.
Other 1Q settlements. The settlement with Volvo related to Signal IP patents, and could be the next largest settlement in the quarter. This settlement occurred before the Markman and trial. Typically, settlements earlier in the process typically garner lower values to avoid time and court costs. MARA had four other smallish settlements during 1Q.
Signal IP. Signal IP patents relate to technologies involving car safety and steering, such as parking assist, adaptive cruise control, air bag deployment and crash avoidance. There are 12 defendants in Marathon's case, including Mazda, Chryler, Ford and other car companies. In the complaint, Marathon noted potential damages in total of $1.4 + bil. We believe those values assume the cases go through a full trial. The Markman hearing took place Mar. 31, and a ruling could occur as early as next week. The initial hearing documents suggests the judge is leaning toward Marathon on 2/3 of the roughly 70 terms. Final decisions are hard to predict, but we view the initial indications as positive.
Outlook. In addition to the Signal IP Markman ruling, MARA has interest in a tire pressure sensor trial in June (a top five prospect), and a German nullity hearing (validity) in June (also top five potential). We believe MARA has several trials starting the first week of July, and these could prompt settlements pre trial.
While we note quarter events above, we'd continue to highlight the core strategy and increasing prospects for MARA. MARA has spent 2+ years establishing its foundation of patents and monetization events (Markmans, litigation), and is now poised to begin producing strong results. The company has 10 Markmans with 56 defendants in 2015, and nine trials with 18 defendants this year v. three total litigation events in 2014. While MARA has produced rapid growth over the past year, none of the settlements have involved the five potential homerun portfolios. MARA continues to have premiere access to high-quality patent portfolios.
Valuation
Our DCF model generates a $12 target. That target equates to about a 16x P/E multiple and a 15x EV/EBITDA multiple.
Marasprint,
I hear you buddy.
I think we all wish things happened in a more expedient fashion, but certain things just take time as you well know. Then again, if you look at all the company has accomplished since being founded just a short time ago, we all may have gotten a little spoiled.
That said, I think many fail to fully understand something very important.
As a general rule of thumb, it is the plaintiff's position (Marathon), which tends to see their position strengthened the more protracted litigation becomes.
One could logically make a sound argument that while we investors would often like immediate gratification, the elongation of certain litigation often times results in a material strengthening of the plaintiff's position. Clearly there is a correlation between the strength of that position and the ultimate potential damages awarded in a judgment, or paid in a negotiated settlement.
The way I personally view the larger cases, many now starting to proceed, is that they are all essentially escalating in potential licensing value with every single passing day. While the value may not be properly correlated to the stock price on a daily basis, I'd argue the underlying value of the company and its assets increase over time and the further they are along in the monetization cycle.
In layman's terms, the further a plaintiff makes it in the litigation cycle, the less potential impediments to monetization exist.
Ed,
Agree with you as usual.
As mentioned previously, there is perception, and then there's reality. Truth of the matter is that while the caliber of board members has increased dramatically, the timing of a couple of the departures could certainly have been better. As you know, some things are not always in the company's control.
While the previous board members added very impactful value and are owed a debt of gratitude for supporting the company to date, the new additions are clearly of a higher caliber more emblematic of the company today, and what it could ultimately be with their contribution.
I think their bio's and past track records of success speak volumes, not limited to the strike prices of Chernicoff's options which would appear to indicate a confidence in his and the company's ability to create value.
In my eyes, Croxall has continued to acquire valuable assets, whether it be patents, or members of his team. I'm sure that much like the IP assets he has purchased, he perceives the recent additions to his team as equally good investments capable of generating nice return on investment.
To date, he's been spot on with regard to the patents. I won't be surprised to see similar results from the recent team additions.
Patent Owners Faring Better at the PTAB
Patent owners are scoring more wins at the Patent Trial and Appeal Board (PTAB), and that’s good news for not only patent owners but also inventors, investors, and anyone interested in seeing America remain the most innovative country on the planet.
The PTAB (an administrative court, part of the US Patent and Trademark Office) came into being in September 2012 as part of the America Invents Act (AIA). The AIA was the biggest overhaul to US patent law in a generation and created several new ways to challenge the validity of a patent -- most importantly the Inter Partes Review (IPR) and the Covered Business Methods Patent (CBM) Review.
When results first started coming out from the PTAB they were pretty dismal. The PTAB accepted 80% of the petitions asking the Board to review a patent, and in the first 19 proceedings, not a single patent emerged completely unscathed. Randall Rader, former chief judge of the Federal Circuit, dubbed the PTAB as a “death squad for patents.”
The trend has changed, however.
Cumulative data from the USPTO shows that as of January 15, 2015 the PTAB had granted review for 68% of the claims where a petition had been filed. 36% of those claims were found un-patentable; an additional 15% were either cancelled or disclaimed (by the owners -- not by the PTAB).
Patents Post-Grant reports recent trends that are even better for patent owners: in recent weeks the PTAB has found in favor of patents owners over two dozen times.
There are likely several reasons for the shift in favor of patent owners:
1.It could be that the weakest patents – the low-hanging fruit -- have already been challenged. Companies accused of infringement are now challenging stronger patents at the PTAB, and those stronger patents are less likely to be invalidated.
2.The PTAB seems to be tightening its standards and using a narrower definition for which patents are eligible for a CBM review.
3.As firms rush to jump on the IPR bandwagon, some may be sloppy or lack the expertise to craft a strong case.
Regardless of the reasons, these trends are encouraging. Prior to the AIA, patent owners could assume that an issued patent was valid. The early results from the PTAB put that assumption in doubt. The more recent results help restore the assumption of validity.
As the invalidity rate of claims challenged drops from 80% to 25% or less, companies charged with infringement are likelier to take a license or settle.
There is still room for improvement in the process for challenging patent validity. Most importantly, the standard of evidence used at the patent office should be aligned with the standard of evidence used in court.
As we mentioned in a recent blog, there should be an assumption, not only in court but also at the patent office, that once a patent has been issued, it’s valid.
But in the meanwhile, we find these trends encouraging.
Ed is correct. I interpret it as an option grant, not exercise.
That said, it would appear as though Chernicoff may be taking on a more active role within the organization other than just board member. Encouraging in light of the fact he is very well regarded and accomplished in the space. What he did at Tessera was incredibly impressive.
https://www.linkedin.com/pub/richard-chernicoff/0/725/4ba
The fact he has joined the Marathon team alone is encouraging. However, based on the fact he has directly tied his own equity upside to the creation of shareholder value is even more encouraging. I'd argue it could be considered telling about what he may believe the future to hold.
Half of his options require the shares to appreciate discernibly for him to even make any money. See below for example, 70,000 of them are vested only upon achieving a $10.14 share price. Only way he really prospers is if we do too. The structure in itself can only indicate he believes he can add value. Importantly he now has incentive to help make it happen.
The options shall vest as follows: 25% of the options shall vest on the 12 month anniversary of the date of grant and thereafter 2.083% on the 21st day of each succeeding calendar month. Notwithstanding anything herein to the contrary, the options shall be subject to the following as an additional condition of vesting: (A) options to purchase 70,000 shares of common stock under the options shall not vest at all unless the price of the common stock while Chernicoff continues as an officer and/or director reach $8.99 and (B) options to purchase 70,000 shares of common stock under the options shall not vest at all unless the price of the common stock while Chernicoff continues as an officer and/or director reach $10.14.
Ed,
As you know, just a small part of the litigation which has very little meaning. I'm sure Flyers would concur.
Clouding Corp has a strong portfolio, including 16 patents that it has asserted against different defendants. In fact, if I'm correct, there are four asserted patents against current defendants that have not been the subject of any IPR petitions.
I'd fully expect they file a notice of appeal challenging the PTAB’s ruling before the Federal Circuit on the one issue you mention.
I believe there still remain two pending cases, one against AT&T and another against EMC/VMware.
As you know, the Clouding portfolio covers a broad range of technologies related to distributed computing, including data center infrastructure, storage, file synchronization and transfer, and VPN tunneling, to name a few. With a portfolio this broad, I believe it a misnomer to use adjectives like "strongest" since there are strong patents in each vertical. In short, I expect clouding is a campaign that will likely continue to generate revenue.
Thank you for posting! Nice to see the volume today.
No insight elbatchio1.
Just think the financials speak for themselves. I can't rationalize any company that is profitable like this and generates 10 cents in Ebitda, trading at this insanely low valuation.
SilverSun Technologies Reports 2014 Year End Results
LIVINGSTON, NJ -- (Marketwired) -- 03/31/15 -- SilverSun Technologies, Inc. (OTCBB: SSNT) (OTCQB: SSNT), a national provider of transformational business technology solutions and services, today announced its financial and operating results for the fiscal year ended December 31, 2014.
2014 Financial Highlights
•Total revenues increased 23.4% to $21.46 million from $17.40 million.
•Earnings before interest, taxes, depreciation and amortization (EBITDA) were $835,224, compared to $560,566 in 2013.
•Income before income taxes increased to $410,901, compared to $202,548 in 2013.
•Net income in 2014, after a provision for income taxes of $218,000, was $192,901, compared to net income of $322,548 in 2013, which included an income tax benefit of $120,000.
•Earnings per share in 2014, on a diluted basis, were $0.05, compared to $0.08 per share on a diluted basis in 2013.
•After excluding the provision/benefit for income taxes, non-GAAP 2014 earnings per share, on a diluted basis, were $0.10 per share, compared to non-GAAP earnings per share of $0.05, on a diluted basis, in 2013.
•As of December 31, 2014, cash and accounts receivable, net of allowance for bad debts, totaled $3.4 million; credit available under the Company's $750,000 bank line totaled $750,000; and the Company had $309,848 in long term liabilities.
For more detailed information about SilverSun's 2014 financial results, please refer to the Company's Form 10-K filed with the U.S. Securities and Exchange Commission (www.sec.gov) on Tuesday, March 31, 2015.
Mark Meller, Chairman and Chief Executive Officer of SilverSun, stated, "We are pleased to present these outstanding financial results for 2014. We have continued to execute on our business plan which is designed to optimize our strengths, and this has enabled our Company to become the profitable and rapidly-growing business it is today."
"We are very proud of the competitive success our Company continues to enjoy, which is a direct result of our team's hard work, dedication and unwavering focus on excellence and superior customer service. Sales have grown at a compound annual growth rate of roughly 30% per annum these past four years, a rate we expect to meet and exceed in the coming years. Our recurring revenue exceeds $7.26 million, or 34% of our total revenue. We expect recurring revenue to continue to represent an ever higher percentage of total revenue in the coming years as we continue to offer more advanced managed services and software-as-a-service solutions to our small and medium-sized business clients. Most importantly, earnings before interest, taxes, depreciation and amortization ("EBITDA") were $835,224 in 2014, versus $560,566 in 2013, an increase of 49%."
Continuing, Meller said, "Investing in the acquisition of other companies and proprietary business management solutions has also been an important growth strategy for SilverSun, allowing us to rapidly offer new products and services, expand into new geographic markets and create new and exciting profit centers. We have previously completed a series of strategic acquisitions that have expanded our footprint to nearly every U.S. state, and we are currently pursuing several managed service providers, as well as other software publishers, for acquisition. In addition, we continue to remain opportunistic in acquiring smaller business consulting firms, acquiring those firms that provide resources, expertise or geography to our professional services group. We are confident that we will be able to close several of these transactions in 2015."
In conclusion, Meller added, "We have had a successful year. Having combined growth and profitability in 2014, we believe the Company will continue to thrive in 2015 and beyond. By remaining steadfast in executing our business plan and embracing technological change, we fully expect that our continued efforts will help to perpetuate -- and even accelerate -- this impressive growth trend well into the foreseeable future."
Thanks for posting that msl2008. Good find as always.
Nice to see a 20k bid just come in at 5.72 a minute ago or so.
That was interesting Marasprint. Never seen that large of bid in this name before.
Looks as though a large buyer might have bid the seller that we discussed possibly needing out by Q (today)?
Will be interesting to see if this alleviates the motivated pressure (window dressing by end of today) and allows the shares to begin to lift.
Marasprint,
Interesting theory on a potential fund doing some window dressing at Q end. Based on the lack of price sensitivity and the clearly time motivated selling, that is a theory that makes a great deal of sense.
There is one fund in particular that had a couple hundred thousand shares which could very easily decided to exit before Q end to avoid reporting the holding. Fairly common with many funds, especially if they have had good performance in the Q.
If your theory accurate, it would seem feasible that we could see the pressure soon abate resulting in a springing back of the price to their pre sale level.
Not advising anyone to do anything Captart7. Simply posting the recent Northland update for informational purposes. What investors do with their own money will always be their own personal decision.
I personally tend to put more credence in fundamentals, as opposed to shorter term imbalances in supply and demand.
No company can control their stock price in the short term, they can only control the execution of their business. In terms of the latter, many would argue the results speak for themselves.
•2014 revenues of $21.4 million, up 526% from $3.4 million from the prior year.
•Achieved 2014 Non-GAAP net income of $4.2 million, or $0.36 per common share, compared to a 2013 net loss of $(300,000), or $(0.03) per share.
•Cash and cash equivalents of $5.1 million as of December 31, 2014, compared to $3.6 million as of December 31, 2013.
•Acquired nine patent portfolios in active enforcement consisting of 260 patents during the year bringing total to 378.
•Currently have 19 portfolios covering 14 distinct technology areas, 16 in active licensing campaigns compared to four at year-end 2013.
•Twelve portfolios have generated revenue to date, up from three portfolios through the end of 2013.
•Six portfolios have generated a net positive return in excess of their cost to acquire and enforce the portfolio.
•Added seasoned IPNav veterans Rick Sanchez and Umesh Jani to the Marathon team.
•Launched Opus Analytics patent analysis platform.
Marathon Patent Group (MARA)
https://northland.bluematrix.com/sellside/EmailDocViewer?encrypt=8167ea33-100d-417f-a9b6-be8e4e765d00&mime=pdf&co=Northland&id=_ResearchtoRetail@northlandsecurities.com&source=mail
2014 Launching Pad for 2015 Revenue Events; 4Q14 Results
Outperform
Price: $6.20
Price Target: $12.00
Reiterating Outperform rating and $12 target based on our DCF model. No change to FY15 estimates. MARA reported 4Q revs of $1.34 mil v. our $1.89 mil est, and non-GAAP net loss of $6.5 mil v. our $140k income est. Negative gross margin on fixed fees on a couple patents. Total year revenue grew 526% to $21.4 mil, and patent assets to 378 from 118. MARA has 10 Markmans against 56 defendants in 2015, and 9 trials against 18 defendants, many multiples more than in 2014.
4Q revenues of $1.34 mil v. our $1.89 mil estimate. Gross loss of $2.0 mil given fixed fees associated with a few patents. Non-GAAP net loss of $6.5 mil v. our $140k income est. Patent assertion is considerably variable on a quarterly basis; hence, full year results are more reflective of progress in our view. FY14 revenue grew 526% to $21.4 mil, and non-GAAP net income was $4.2 mil v. ($562k) in 2013.
Management does not give guidance, but noted 1Q was active and 2015 has numerous potential revenue catalysts. Key events over the next few months include a Markman hearing related to Signal IP next week, several in 2Q . There is a scheduling conference in the Dynamic Advances case next week; could set trial date then.
Given the activity in 1Q, esp. the Vantage Point deals, and the long list of potential catalysts this year, we are leaving our estimates in place. MARA has spent two years getting to the point where it has numerous Markmans and trial dates on key patent portfolios, and we expect a strong 2015..
MARA management noted the pipeline of new patents is very healthy. They wanted to have a new top-5 quality patent portfolio by the earnings call, so we expect that is close.
Jdno,
Appreciate your thoughts as always.
"There is tremendous value in the shares at current levels imo."
The financial results would appear to speak for themselves and certainly support your contention.
Truth be known, few public company's have ever achieved 526% Y over Y growth and profitability, let alone when the company itself remains merely in its infancy. Generally speaking results of this substance don't occur in any company so early on it's evolution. In fact, there is probably no shortage of micro-cap / small cap CEO's who would literally kill to report such results.
Context could be argued to be of critical importance when looking at Marathon. Croxall's statement, "2014 was the first full year of operations for the company" might be noted in some of the recent discourse.
CHM,
Few commented on the article you posted, written by IP Hawk. It was an excellent read and well stated, exactly what I would expect from him. He and I appear like minded thinking patent reform could be extremely favorable for companies like Marathon.
Admittedly, despite the reality of the matter, perception remains negative. The market fears the unknown, therefore it remains a drag on the sector.
However, some may recall that I discussed some thoughts with Msl2008 last week where I stated I believe we could soon see a perfect storm for the IP space and its investors as the pendulum could soon begin to swing back the other way.
As a furtherance of my thoughts and possible evidence of such, see another article which appeared in Law360 that really speaks to changing position of the Federal Circuit after being reversed by the US Supreme Court.
'Terrified' Fed. Circ. Will Follow High Court, Michel Says
By Ryan Davis
Law360, New York (March 26, 2015, 7:55 PM ET) -- After being repeatedly reversed by the U.S. Supreme Court, the Federal Circuit appears "absolutely terrified" of further rebukes and will now scrupulously follow the high court's dictates, including deferring to lower courts on claim construction, the appeals court's former chief judge said Thursday.
Paul Michel, who retired as chief judge of the Federal Circuit in 2010, said at the American Bar Association's Section of Intellectual Property Law Conference in Bethesda, Maryland, that he expects his former court to fall in line with the often-controversial standards set...