Finjan Provides First Quarter 2020 Shareholder Update
EAST PALO ALTO, Calif., May 13, 2020 (GLOBE NEWSWIRE) -- Finjan Holdings, Inc. (NASDAQ:FNJN), a pioneer in cybersecurity, is providing shareholders with a financial update for the first quarter ended March 31, 2020. Additional updates regarding Finjan’s business and operating subsidiaries will be discussed in more detail during the conference call scheduled today, May 13th at 1:30 p.m. PT/4:30 p.m. ET.
“Heading into 2020, we were entering a noteworthy trial cycle with one scheduled against ESET and one against Cisco during the first half of 2020. Earlier this year we were met with a pandemic, effectively ceasing operations around the world, resulting in our trial with ESET concluding in a mistrial after a week of testimony. While we are all continuing to adjust to the new working environment due to COVID-19, my team and I were pleased that the Courts have acted swiftly during this shutdown to make certain adjustments to courtroom settings and procedures in an effort to continue operating, and have recently started rescheduling efforts for trials to resume. Our Cisco trial was rescheduled from June 1st to June 22nd,” said Phil Hartstein, President and CEO of Finjan.
Jevan Anderson, CFO of Finjan, commented, “During this time we have made a prudent decision to reevaluate costs amidst the continued uncertainty we are all operating under. While this remains an ongoing process, going forward we have reduced our monthly operating expenses. As of March 31, 2020 our balance sheet remains strong with $32.0 million in cash.”
First Quarter 2020 Highlights to Date:
In addition to the above, Finjan has pending patent infringement lawsuits against Palo Alto Networks, SonicWall, Check Point, Rapid7, Fortinet, Qualys, and Trustwave / Singapore Telecom relating t, collectively, more than 15 patents in the Finjan portfolio. The court dockets for the foregoing cases are publicly available on the Public Access to Court Electronic Records (PACER) website, www.pacer.gov, which is operated by the Administrative Office of the U.S. Courts.
Patents issued during the quarter:
Finjan Mobile, Inc.
Analyst and Investor Call with Management:
Analysts, investors and other interested parties may access the conference call by dialing 1-855-327-6837 in the U.S. or internationally by dialing 1-631-891-4304.
An archived audio replay of the conference call will be available for 2 weeks beginning at 7:30 p.m. Eastern Time on May 13, 2020 and can be accessed by dialing 1-844-512-2921 in the U.S. or internationally by dialing 1-412-317-6671 by providing access code 10009574.
The call will also be archived on Finjan's investor relations website by visiting https://ir.finjan.com/ir-calendar.
Cautionary Note Regarding Forward-Looking Statements
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