Huge Potential For Parker Vision Shareholders

On May 16, 2016, ParkerVision (PRKR) released its first-quarter earnings report for 2016. The company is currently embroiled in an ongoing dispute after filing a complaint in Dec. 2015 against Apple (NASDAQ:AAPL), Qualcomm (NASDAQ:QCOM), Samsung and LG with the U.S. International Trade Commission, alleging the infringement of their patents. During the quarter, PRKR reported a net loss of $5.1 million, which was down by 11 percent from the net loss of $5.8 million the company reported for the same quarter in 2015.

The company also reported receiving $11 million in funding from Brickell Key Investments, or BKI, primarily to be used to pay its legal expenses and fees relating to its patent infringement complaint and corresponding federal lawsuits. There was $6.8 million of restricted funds from BKI remaining as of March 31, 2016. Under the terms of the PRKR)/11365722.html” rel=”nofollow”>agreement with BKI, the funds will be repaid from proceeds PRKR expects to receive from its patent enforcement actions and assets.

ITC complaint and patent lawsuits

ParkerVision (PRKR) is a research and development firm that develops RF technologies. The firm has alleged that Samsung and Qualcomm both infringed upon one or more of four technology patents owned by ParkerVision, each involving technology to implement radio frequency in hardware. ParkerVision alleges that Apple and LG used the chips developed by Samsung and Qualcomm from the infringed patents in their mobile devices. The company had previously sued Qualcomm in 2011, and a jury returned a verdict in 2013 that was in ParkerVision’s favor in the amount of $173 million. That decision was later overturned, and the most recent complaint and corresponding lawsuits are ongoing.

The current ITC complaint is seeking an embargo against the sales and imports of products containing the infringed material. Through the current lawsuit, ParkerVision is also seeking monetary damages in an unspecified amount. The CEO and Chairman of the company, Jeffrey Parker, stated that the hearing on their ITC complaint is scheduled within three months and the case is proceeding rapidly. If the hearing goes well for PRKR, the company will be able to then monetize its patents, positioning it well for moving forward.