Finjan Files 10Q and Releases its Third Quarter Shareholder Update

Vanessa WinterBlog, Shareholder Updates

Finjan Finjan Files 10Q and Releases its Third Quarter Shareholder Update

Finjan released it’s third quarter shareholder update yesterday. The key highlights were as follows:

  • Ruling in favor of Finjan for nearly $40 million in damages as a result of Finjan patents being found valid and infringed by a jury at the conclusion of the Blue Coat trial;
  • Continued to increase CybeRiskTM Security Solutions Ltd. presence with recent expansion into the United Kingdom;
  • Reentered the world of development with release of the Finjan Mobile Secure Browser available for Apple and Android platform devices;
  • United States Patent and Trademark office (USPTO) granted Finjan Inc. its 23rdS. Patent, the ‘786 patent for Malicious Mobile Code Protection;
  • Patent Trial and Appeal Board (PTAB) denied dual petitions for inter partes review (IPR) by Sophos for Finjan’s patents ‘494 and ‘926;
  • Reported $7.2 million in cash with an additional $2.3 million to be paid from existing license agreements over the next five months; and
  • Announced appointment of new board member, Gary Moore, previous President and COO of Cisco.

 

“The third quarter represented one of growth after the announcement of our two new emerging businesses units, mobile security and cybersecurity advisory services. We recently launched our first mobile security product in the Finjan Mobile Secure Browser, established our international CybeRisk Security Solutions advisory business in Israel, and continue to have our innovation recognized by the US Patent Office with the issuance of our 23rd US patent.  We are ahead of plan for our advisory business with the recent expansion of CybeRisk into London and the addition of Gary Moore to the Finjan Board to provide guidance on our growth and expansion globally,” said Phil Hartstein, President and CEO of Finjan. “As we look ahead we remain enthusiastic about our diversification as a public company focused in the cybersecurity sector. We carefully manage our cash position while balancing our 20 years of expertise in technology investments to create long-term value for our licensees, shareholders and investors.”