Just a quick note for those of you who don’t follow me on Twitter or Seeking Alpha: I published an article on Internet Patents Corp (PTNT) earlier today on Seeking Alpha. It is significant because up until now, there has not been a public write-up on the company since it undertook a completely transformative acquisition in March.
Highlights of the opportunity:
- Until recently, PTNT was an unsuccessful patent “troll,” trading for less than the value of its net cash.
- In March of this year, PTNT made a completely transformative move: acquiring Prism Technologies, a very successful company in the same field.
- Now, with a market cap of $31M and management projecting $60M in earnings and cash flow over the next 2.5 years, PTNT looks set to explode.
- Only last week, the new subsidiary won a $30M judgment against Sprint, to add to a $27M settlement by AT&T last year, with similar trials upcoming.
The full article is here: A Whole New Troll: Internet Patents Corp. Transforms Itself.
I recently mentioned PTNT on this blog in my “top 3 current picks” article on PDEX, VTSI, and PTNT.
Disclosure: I am long PTNT at the time of this writing, as well as PDEX and VTSI.