Last week, Vringo, Inc.(NYSEAMEX:VRNG) has hosted a conference call to talk on earnings for third quarter, latest developments and to notify shareholders that they are implementing a scalable business plan with a goal of monetizing their present patent portfolio. Their immediate goal is to monetize their patent portfolio and to team up with world-class companies and other corporate professionals across the world in an attempt to realize better risk adjusted returns for their investors.
The company has mentioned that it is pleased with its performance in the third quarter and it has provided some relevant data to investors.
The merger with I/P was completed in less than 4 months back. With strong financial conditions, the company mentioned that its balance sheet till date reveals over $60 million in cash and no debt. The company has also declared that under subsidiary Vringo Labs, it has appealed for nine conditional patent applications.
The company has started to work on the telecom infrastructure portfolio with the purchase of the Nokia patents in the third quarter and filed a case in the UK against a subsidiary of ZTE.
The company has received a jury verdict in its favour in a patent lawsuit against Google on 6th November of this year. Vringo thinks that it has made a powerful, unique and scalable business model as a company that makes, gains and monetizes intellectual property and technology in the mobile, computing and online areas. It still sees its plan as being a scalable model that their management team understands and excels in.
Vringo has plans of continuing innovating and acquiring intellectual property and technologies in their fortes. The company is predicting an excellent chance in the IP sector that has emerged out to be an attractive asset class exercising considerable attention and investment.
In the next quarter, the company will continue to be astute with cash resources and equity.