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New words:
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Financial report summary
?Competition
Quest Patent ResearchRisks
- We are presently substantially reliant on a limited number of patented technologies that we own through Finjan that have begun to expire.
- We have a history of significant cash needs and this may increase in the future.
- Any failure to protect or enforce our patents or other intellectual property rights could materially impair our business.
- Our licensing cycle is lengthy and costly, and our licensing efforts may be unsuccessful.
- We currently are, and expect to continue to be involved in costly, time-consuming and uncertain litigation and administrative actions to enforce our patents, which may adversely affect our financial condition and our ability to operate our business.
- Our cash flows can be unpredictable, and this may harm our financial condition or the market price for our common stock.
- Our cash flows and income have been derived from a limited number of sources.
- We may raise additional capital to support our present business plan and our anticipated business growth and such capital may not be available on acceptable terms, or at all, which would adversely affect our ability to operate.
- Any debt we incur in the future in capital raising efforts may limit our flexibility to obtain further financing and to pursue other business opportunities.
- If we are unable to successfully commercialize our new business or identify additional sources of revenue, our financial condition and operations may be materially adversely impacted.
- If we suffer a cyber-security event, we may lose Finjan Mobile customer data and incur liabilities, any of which would harm our business and operating results.
- We may be unable to achieve the financial or other goals intended at the time of any potential acquisition.
- Technologies we acquire in the future, if any, may not be commercially successful.
- Failures in our due diligence and/or inaccuracies of representations and warranties made by third parties may expose us to material liabilities, write-downs or write-offs in the future.
- Our acquisitions of patents, technology and other assets or companies may be time consuming, complex and costly, which could adversely affect our operating results.
- Our acquisitions of patents, technology or other assets or companies may involve issuing capital that would be dilutive to our stockholders, cause our stock price to drop, or involve raising capital on unfavorable terms, if available.
- It may be difficult for us to verify royalty amounts that we are owed under licensing agreements, and this may cause us to lose revenues.
- The success of our business depends in part upon our ability to retain qualified legal counsel to represent us in patent litigation and our ability to manage the costs of such services.
- Federal courts are becoming more crowded, and as a result, patent enforcement litigation is taking longer and becoming more costly.
- Any reductions in the funding of the USPTO could have an adverse impact on the cost of processing pending patent applications and the value of those pending patent applications.
- Competition for patent rights and patent portfolios is intense.
- The markets served by our cybersecurity technologies are subject to rapid technological change, and if we are unable to acquire new technologies and patents, our ability to generate income could be substantially impaired.
- Our public company disclosure obligations may have unintended adverse consequences on our licensing and patent enforcement strategy.
- We are obligated to maintain proper and effective internal control over financial reporting. We may not complete our analysis of our internal control over financial reporting in a timely manner, or this internal control may not be determined to be effective, which may adversely affect investor confidence in our company and, as a result, the value of our common stock.
- New legislation, regulations, executive orders, or rules related to obtaining patents or enforcing patents could significantly increase our operating costs and decrease our income.
- Concentration of ownership among our existing executive officers, directors and their affiliates, and others who beneficially own at least 10% of our outstanding common stock, may prevent new investors from influencing significant corporate decisions.
- Future sales by us or our existing stockholders could dilute our stockholders and depress the market price of our common stock.
- Our Common Stock may be affected by trading volume and price fluctuations, which could adversely impact the value of our Common Stock.
- Our common stock may be considered a “penny stock.”
- Our stockholders may experience significant dilution if future equity offerings are used to fund operations or acquire complementary businesses.
- If securities or industry analysts do not publish, or cease publishing, research or reports about us, our business or our market, or if they change their recommendations regarding our stock adversely, our stock price and trading volume could decline.
- If we fail to maintain an effective system of internal controls, we may not be able to accurately report our financial results or prevent fraud and our stock price may be adversely affected.
- Anti-takeover provisions in our charter and bylaws may prevent or frustrate attempts by stockholders to change the board of directors or current management and could make a third-party acquisition of our company difficult.
- If we issue shares of preferred stock, investments in common stock could be diluted or subordinated to the rights of the holders of preferred stock.
Management Discussion
- Revenue is derived from license agreements that we enter into with third-parties following negotiations pursuant to our licensing and enforcement program. Revenue is determined by the timing of licensing agreements and enforcement programs and can vary significantly period to period. During the three months ended March 31, 2020 we entered into one license agreement for $3.8 million compared to nil for the same period in 2019.
- Costs of revenues includes legal expense directly associated with our licensing and enforcement programs and vary as a percentage of revenues, as does gross margin, due to the timing of legal expense paid on settlement.
- Research and development expenses ("R&D") are primarily from our Finjan Mobile security business. Our focus on R&D consisted primarily of professional services associated with the development of mobile security application products, these expenses are consistent quarter over quarter.