- June 15: Received Markman Memorandum Opinion & Order ruling in wholly-owned subsidiary I/P Engine's case against Google, AOL, IAC, Target and Gannett; jury trial scheduled to begin on October 16 in the U.S. District Court in the Eastern District of Virginia.
- June 15: Signed agreement to develop Facetones™ for Nokia Asha Touch mobile phones.
- June 25: Added to the Russell Microcap Index.
- July 19: Completed merger with Innovate/Protect.
- July 20: ZTE began shipping handsets to Europe preloaded with Facetones™.
- August 10: Completed financing of $31.2 million, with approximately 90% placed with three institutional investors.
- August 10: Acquired over 500 patents and patent applications from Nokia covering telecom infrastructure.
- As of the close of business on August 13, Vringo had $15.3 million of cash on hand. After giving effect to the repayment of approximately $3.2 million of debt, Vringo will have $12.1 million of cash on hand.
- Net loss was $5.17 million, mainly attributed to a non-cash, non-operating expense which totaled approximately $3.1 million, recorded in connection with a periodic valuation of warrants, classified as long term derivative instruments, as well as $600 thousand in one-time expenses related to the merger with Innovate/Protect.
- Mobile application revenue remained relatively flat at approximately $100 thousand for the two first consecutive quarters of 2012. For the six months ended June 30, 2012, revenue decreased approximately 45% to $206 thousand compared to $374 thousand for the six months ended June 30, 2011. This decrease was primarily due to regulatory changes in Malaysia and the lack of one-time fee revenue in the first half of the year.
- Operating loss for the second quarter decreased by 26% to $2.0 million for the three months ended June 30, 2012 as compared to $2.7 million in the previous quarter. This reflects primarily a combination of operational cost synergies, partly offset by M&A expenses related to completing the transaction with Innovate/Protect.
- On a per share basis, net loss fell by 22% to a loss of $0.36 per basic and diluted share in the second quarter of 2012 compared to the loss of $0.46 per basic and diluted share for the previous quarter, mostly as an increase in the weighted average number of shares, and decrease in operating loss.
|Date: Tuesday, August 14, 2012|
|Time: 5:00 p.m. Eastern (Vringo recommends dialing in ten minutes in advance)|
|Domestic: (888) 882-8678|
|International: (706) 645-4500|
|Replay (available shortly after conclusion): (855) 859-2056|
|Confirmation Code: 20623594|