Marathon Digital Holdings Inc (MARA)

[msl2008]

I guess it depends on how much cash Uniloc brings to the table. To compare apples to apples we would've diluted around 8 million shares at probably 2.5 apiece to raise 20 mil. Then the bankers probably would've taken off 500k or so which would leave us with 19.5 mil. Not too bad and we definitely could've had a shot to go it alone assuming we settled/won vs TRW/Stryker/Apple but the question becomes when would we have seen the cash?

Even if we beat them, they would probably appeal and drag it out even longer which means our cash bundle would continue diminishing. I am hoping Uniloc brings significant cash (hopefully around 50 mil) or we get a good deal somewhere for a cash infusion given our newfound potential. We basically gave up going it alone for an even more diversified company which means we further mitigated our risk of one case screwing us.

I do wonder if let's just say we settle with Stryker for 8 figs, that would significantly raise our value. If that is the case, do we get to reevaluate the 45% of the combined entity? There is a covenant for adverse opinions but what about positives?

On slide 6 it looks like the combined entity is going to file another 50 lawsuits in 2015.

Sarif: 325k
Selene: 150k
E2E: 140k
Medtech: 131k
E2E: 120k

Total: 866k

Total revenue was 1.37 mil.

Difference is 504k

I think the J&J license is 250k which means that OPUS generated 254k.

Now you add in Centurion in the combined entity and it may make OPUS that much more valuable to IP people. 254k a year is 1 mil in annual revenue and it is subscription which is nice.