XpresSpa Group Inc (XSPA)

[xlt leader]

If you look at Tobinators analysis, the range of future royalty totals $690 million to $1.2 billion is a reasonable expectation. You have to discount these amounts because money today is worth more than in the future. The time-frame is only a few years so there should not be a huge discount. Also it is not in Google's interest to have another company look at their books every quarter to determine the proper royalty. Despite their bluster of filing appeals etc it is also in their interest to license Lang's invention, compensate Vringo for past use and move forward. The amount is absolutely inconsequential to them but this would be the best outcome. There might be some who question the message here, but the message is that Google has fought tooth and nail , even if they settle and in my opinion will not encourage "patent trolls" from attacking Google unless they have a very strong case. From Vringo's and us (shareholders) perspective, money in hand allows them to monetize their portfolio more aggressively and that is what they want to do. This is win/win. Will it happen, I don't know but this scenario is the best for everyone my opinions only obviously.