Finjan Holdings Inc (FNJN)

[lbcb123]

I'm not a pumper or a basher... no company is all good or all bad and I just tell it like it is.

The big update is conversions for mobile browser:

They said they are converting about 20% of the downloads for mobile browser and have over 100K registered users. They mentioned "promotions", but eventually each user should equate with around $5/month in revenue. I know they aren't getting that now, but 100K X $5/month = $500K/month or $6M/year.

To me, this is the turning point and we can definitively value Finjan Mobile at $1/share. Adding cash value plus $1 gets us to approaching $4/share. That isn't giving any value to future monetization of patents and is a minimum price the stock should be trading at. Even though it is quasi-recurring, their patent revenue is still one-off and I am valuing it on a cash basis as a bare minimum. As long as they book more revenue than their burn rate, the stock price should continue to go up.

They need to do something to increase exposure and quit preaching to the choir.