Another point
There were huge profits in this stock for everyone involved heading into the split in late-December. I'm sure quite a few people wanted to take profits but were hoping to wait until 1/2/15 so they could postpone the taxes for another year. Someone got a bit of a jump on them and with no real material news out since the beginning of the year to drive higher than average volume we have simply drifted lower as those with gains take some off the table.
It seems that the big potential catalysts here near term would be potential settlements with TPMS or Stryker. With regard to the Markman Trials we have two coming up in as many weeks but from what I understand it could be 1-3 months before we actually get a decision on any of those.
Not that it matters that much to me but Q4 likely wasn't as good as Q3. But, analyst estimates reflect that for the most part. What we have to hope for is that the TLIF settlements were on the larger side and that maybe a few of the Clouding settlements wasn't covered by the RPX agreements signed on 9/30/14.
Considering what this company has on the plate the valuation here at ~$7.40 is pretty damn attractive. I assume a fully diluted share count of 20 million (for all of the convertible debt and on top of it there were quite a few options issued at the end of last year). So at current prices we are trading at a market cap of less than $150 million. TPMS and/or Stryker could be $20+ million on their own. Then once we get those settlements one would logically think that the other Orthophoenix defendants will likely start thinking about settling if they haven't already. Apple should also be a big catalyst as well. We still don't know the date but it would seem to be that should be $30-$50 million or so. Then if we settle with them, we still have HTC, Samsung, and pretty much every other Android player out there that should fall in line just like Orthophoenix.
Then we have the Andrulis Markman. If you thought the stock moved on the Apple news you haven't seen anything yet if we get a positive nod on that one.
Cases that could be resolved in our favor in just the next 6-8 months could be greater than the entire market cap of the company today. And this doesn't account for any of the Markmans/Trials set for later in the year or any new patents coming on board.
