Nope. Look at their Balance Sheet. It is not "debt". It does not appear under Current Liabilities. It is categorized under Shareholders' Equity as Preferred Shares.
With that said... it is something that will get paid off so there will be no dilution. Nothing "bad" would happen if it didn't get paid off for over 2 years. It would just take a little more cash.
The preferred share deal still seems to be misunderstood by many people. It was a BRILLIANT deal for Finjan. In order to raise $10M like they did, it would have probably required about 50% dilution of shares! We could be sitting now with 35M shares outstanding instead of 23M and not have to pay back the $13.6M (as of 09/30/2016).
I MUCH prefer giving them the cash from the Blue Coat payout later this year and have 23M shares outstanding. We will come out MUCH better in the long run. I hate companies that are free with giving away shares. Tell me how many other companies you know with this potential that only has 23M hares outstanding and 6M share public float! Most companies dilute to hundreds of millions of shares to fund their development phase. Finjan was able to fund theirs by monetizing their patent portfolio.
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