Monday, March 3, 2014

03/03/2014 Market Wrap

Ticker $CHG %CHG  Volume      Closing Price
ACTG  $               (0.31) -2.02%                   607,700  $               15.02
BCYP.OB  $           (0.0010) -0.70%                   192,100  $               0.142
COPY.OB  $             (0.005) -1.63%                   121,000  $               0.295
CRDS  $                  0.06 2.64%                     90,000  $                  2.33
DSS     $               (0.06) -3.66%               1,124,500  $                  1.58
EDIG.OB  $             0.0002 0.29%                        1,600  $             0.0702
ENIP  $                  0.00 0.75%                   189,300  $               0.188
EONC  $                  0.02 0.34%                   145,300  $                  5.93
FNJN.OB  $               (0.37) -4.40%                     18,100  $                  8.03
IDCC  $               (0.25) -0.82%                   358,500  $               30.25
MARA.OB  $                  0.10 1.52%                     73,600  $                  6.70
MGT  $               (0.01) -0.31%                     30,000  $                  1.96
NTIP  unch  unch  zero   $                  1.70
OTIV  $               (0.08) -2.50%                   183,200  $                  3.12
PCO   $               (0.06) -3.95%                   270,400  $                  1.46
PPRO  unch  unch  zero    $                  3.65
PRKR  $               (0.10) -2.00%                   599,600  $                  4.90
PTNT  unch  unch                     28,600  $                  3.22
RMBS  $               (0.04) 0.43%                   709,100  $                  9.18
SITO.OB  $               (0.02) -3.80%                        2,100  $               0.481
SPEX   $                  0.03 0.64%                   101,400  $                  4.70
STRP  $               (0.07) -0.86%                     23,200  $                  8.09
TIVO  $               (0.04) -0.30%               2,358,900  $               13.46
TSRA  $                  0.13 0.60%                   753,200  $               21.75
UPIP  $               (0.02) -1.35%                   464,500  $                  1.46
VHC   $                  1.43 7.33%               5,462,800  $               20.93
VRNG  $               (0.05) -1.23%               2,574,200  $                  4.00
WDDD.OB  $             0.0100 4.17%                   262,800  $             0.2500
WILN   $               (0.03) -0.97%                     26,900  $                  3.07
News:
Virnetx (VHC) filed an 8K disclosing EDTX issued an Order on the on-going
royalty on adjudicated products and products not colorably different found
to infringe at trial.
The actual order has not been filed in the court system as of this post.
Filings:
Virnetx (VHC) filed their annual report Form 10K

Virnetx v Apple 2013 Royalty Estimates - Updated

Apple Damages January 1, 2013 - December 31, 2013
Date 3/31/2013 6/30/2013 9/28/2013 12/31/2013
Total Revenue Per Unit
iPhone $ 22,955,000,000 $ 18,154,000,000 $ 19,510,000,000 $ 32,498,000,000
iPad 6,374,000,000 8,746,000,000 6,186,000,000 11,468,000,000
iPod 962,000,000 4,569,000,000 573,000,000 973,000,000
Americas Revenue % 32.23% 40.78% 37.20% 34.90%
Americas Revenue 3/31/2013 6/30/2013 9/28/2013 12/31/2013
iPhone $ 7,397,740,064 $ 7,403,345,412 $ 7,258,457,248 $ 11,340,500,816
iPad 2,054,157,925 3,566,688,277 2,301,425,758 4,001,872,834
iPod 310,025,090 1,863,274,495 213,177,653 339,538,042
Total $ 9,761,923,079 $ 12,833,308,184 $ 9,773,060,659 $ 15,681,911,692
Estimate US Revenue 90% 8,785,730,771 11,549,977,366 8,795,754,593 14,113,720,523
Smallest Saleable $ 7,028,584,617 $ 9,239,981,893 $ 7,036,603,674 $ 11,290,976,418
Unit per Final Judgment
Excluded 20% of Devices Total = $ 34,596,146,602
Page 24
Virnetx .5% Royalty Owed $ 35,142,923 $ 46,199,909 $ 35,183,018 $ 56,454,882
(Jury Verdict %)
Total = $ 172,980,733.01
         
Virnetx .98% Royalty Owed $ 68,880,129 $ 90,551,823 $ 68,958,716 $ 112,909,764
         
      Total = $ 341,300,431.98
Virnetx 1.52 Royalty $ 106,834,486 $ 140,447,725 $ 106,956,376 $ 171,622,842
(VHC Asking For)
Total = $ 525,861,428.35
Assumptions:
Apple does not have a non-infringing workaround
90% US Estimate is close to being accurate, this number could be revised in either direction.
The majority of the money is from products not included in the first trial.
Virnetx is trying to collect this money in post-verdict motions not yet ruled on proving
new devices are the same as already proven infringing devices .  
Conclusions:
There is a substantial of money at stake for both parties. At the .98% rate
will yield a substantial stream of revenue to Virnetx.

3/3/2014 PIPCO Pre-Market News

On Track Innovations (OTIV) announced they have sold their German subsidiary Intercard Systems to an undisclosed private party.  OTIV will receive $700,000 Euros upfront and future debt payments.

http://finance.yahoo.com/news/oti-divests-intercard-system-electronics-133100566.html

Virnetx (VHC) oral hearing is still scheduled for this morning.  I did not attend due to poor travel conditions from the ice/snow.  A recording will be made available through the court system. 

Sunday, March 2, 2014

W/E February 28th 2014 PIPCO Performance

Ticker 2/21/2014 2/28/2014
Closing Price Closing Price $ Change % Change
ACTG  $              13.96  $              15.63  $          1.670 11.96%
 $                 -  
BCYP.OB  $              0.152  $              0.143  $        (0.009) -5.92%
 $                 -  
COPY.OB  $              0.295  $              0.300  $          0.005 1.69%
 $                 -  
CRDS  $                2.43  $                2.27  $        (0.160) -6.58%
 $                 -  
DSS     $                1.77  $                1.64  $        (0.130) -7.34%
 $                 -  
EDIG.OB  $            0.0720  $            0.0700  $        (0.002) -2.78%
 $                 -  
ENIP  $              0.195  $              0.187  $        (0.008) -4.31%
 $                 -  
EONC  $                5.64  $                5.91  $          0.270 4.79%
 $                 -  
FNJN.OB  $                8.21  $                8.40  $          0.190 2.31%
 $                 -  
IDCC  $              30.25  $              30.50  $          0.250 0.83%
 $                 -  
MARA.OB  $                6.05  $                6.60  $          0.550 9.09%
 $                 -  
MGT  $                2.01  $                1.96  $        (0.050) -2.49%
 $                 -  
NTIP  $                1.64  $                1.70  $          0.060 3.66%
 $                 -  
OTIV  $                3.08  $                3.20  $          0.120 3.90%
 $                 -  
PCO   $                1.44  $                1.52  $          0.080 5.56%
 $                 -  
PPRO  $                3.75  $                3.65  $        (0.100) -2.67%
 $                 -  
PRKR  $                4.59  $                5.00  $          0.410 8.93%
 $                 -  
PTNT  $                3.11  $                3.22  $          0.110 3.54%
 $                 -  
RMBS  $                9.35  $                9.22  $        (0.130) -1.39%
 $                 -  
SITO.OB  $              0.500  $              0.500  $                 -   0.00%
 $                 -  
SPEX   $                4.88  $                4.67  $        (0.210) -4.30%
 $                 -  
STRP  $                8.02  $                8.16  $          0.140 1.75%
 $                 -  
TIVO  $              12.72  $              13.50  $          0.780 6.13%
 $                 -  
TSRA  $              19.13  $              21.72  $          2.590 13.54%
 $                 -  
UPIP  $                1.53  $                1.48  $        (0.050) -3.27%
 $                 -  
VHC   $              19.36  $              19.50  $          0.140 0.72%
 $                 -  
VRNG  $                4.06  $                4.05  $        (0.010) -0.25%
 $                 -  
WDDD.OB  $            0.2430  $            0.2400  $        (0.003) -1.23%
 $                 -  
WILN   $                3.09  $                3.10  $          0.010 0.32%

02/28/2014 Market Wrap

Ticker $CHG %CHG  Volume      Closing Price
ACTG  $                  0.30 1.97%                   543,400  $               15.63
BCYP.OB  $             0.0030 2.14%                   324,900  $               0.143
COPY.OB  unch  unch                   125,800  $               0.300
CRDS  $               (0.03) -1.30%                     50,700  $                  2.27
DSS     $                  0.00 0.09%                   193,700  $                  1.64
EDIG.OB  unch  unch                        3,800  $             0.0700
ENIP  unch  unch                   202,300  $               0.187
EONC  $                  0.06 1.03%                     44,400  $                  5.91
FNJN.OB  $               (0.22) -2.55%                        6,100  $                  8.40
IDCC  $               (0.51) -1.64%                   245,800  $               30.50
MARA.OB  $               (0.06) -0.90%                     30,800  $                  6.60
MGT  $               (0.02) -0.96%                     33,200  $                  1.96
NTIP  unch  unch                           200  $                  1.70
OTIV  $               (0.09) -2.74%                   156,800  $                  3.20
PCO   $                  0.01 0.66%                   176,500  $                  1.52
PPRO  $                  0.25 7.35%                        6,000  $                  3.65
PRKR  $                  0.16 3.31%               1,551,600  $                  5.00
PTNT  $               (0.02) -0.62%                        7,600  $                  3.22
RMBS  $               (0.10) -1.07%                   497,900  $                  9.22
SITO.OB  unch  unch                     62,400  $               0.500
SPEX   $               (0.03) -0.64%                     26,100  $                  4.67
STRP  $               (0.08) -0.97%                     45,700  $                  8.16
TIVO  $               (0.18) -1.32%               2,121,800  $               13.50
TSRA  $               (0.53) -2.38%                   946,400  $               21.72
UPIP  $               (0.04) -2.63%                   238,600  $                  1.48
VHC   $                  0.12 0.62%                   312,900  $               19.50
VRNG  $               (0.02) -0.49%               1,510,400  $                  4.05
WDDD.OB  $             0.0100 4.35%                   435,200  $             0.2400
WILN   $                  0.05 1.64%                     84,800  $                  3.10
News:
Nothing to Report
Filings:
Nothing to Report