Finjan Holdings Inc (FNJN)

[lbcb123]

That was disappointing. I thought $80M included legal fees being paid. They ended the quarter with $17M in accounts payable so that takes them down. They paid $13M of it in legal fees and have $66M cash now.

$66M - $4M in accounts payable - $6M in burn rate = $56M by end of quarter with no new revenue.

They also said revenue for quarter was $65M so there was nothing they could break out for Finjan Mobile. Wouldn't commit to anything for this quarter either so I am dropping my Finjan Mobile premium added to share price of 50 cents per share.

$2.38/share cash currently plus .50 premium for Finjan Mobile = $2.88 valuation.

$2.02/share cash by end of quarter = $2.52 valuation without any new revenue..