Thank you for posting this. My take on the argument is not only that it is a simplification, it is a skewed way of evaluating the value of this company. When a pharmaceutical company has a new drug up for FDA approval, the value is really dependent upon speculation about whether or not the drug will be approved and the potential market that exists for that drug. While the potential market is reasonably known, the approval is an unknown, but there are percentages of likelihood as to whether or not the drug will be approved.
There are some parallels to our patent play. We have some reasonable information about the size of the potential # of patent infringers and income related to use of the patents; although, it is difficult at this time to precisely assess the dollar amount related to patent infringement should WDDD prevail. We do not know the outcome of the challenges or whether a settlement will be reached.
Until some other details are known, the share price is more a matter of valuation based primarily upon speculation.
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