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Major League Runner NLST (Netlist) 912 Seminal Patent (DDR Server Memory Modules)

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NLST is making that slow steady powerful rise up the charts in recent months that speaks of big things coming on the horizon. The stock is quickly becoming a leader in small caps regularly trading $3 million plus in daily dollar volume and attracting legions of new shareholders who continue to bid the stock higher. Many naysayers suggested the stock would drop off its July highs after the U.S. Court of Appeals for the Federal Circuit affirmed the U.S. Patent Trial and Appeal Board’s decision upholding the validity of Netlist’s U.S. 7,619,912 (‘912) patent that applies to DDR server memory modules. While NLST did give back some gains at the time the stock has been moving up steadily with power ever since. Microcapdaily suggested in July that there were way too many good things happening here for Netlist not to keep rising. 

Netlist is easily among the most exciting stories in small caps; the big story picked up in July after the US Court of Appeals for the Federal Circuit affirmed the U.S. Patent Trial and Appeal Board’s decision upholding the validity of Netlist’s U.S. 7,619,912 (‘912) patent that applies to DDR server memory modules. The decision is final and binding on future cases and represents a resounding win for Netlist. The (‘912) patent is a seminal patent; an invention so impactful that it creates or shifts the technology space. This ruling has much larger implications than just GOOG which will more than likely set the tone for other settlements long overdue here. Netlist holds a portfolio of patents including over 130 issued and pending U.S. and foreign patents, many seminal, in the areas of hybrid memory, storage class memory, rank multiplication and load reduction, among others. The Company’s sales are on a steep rise; Net sales for the third quarter ended September 26, 2020 were $10.2 million, compared to net sales of $6.1 million for the quarter ended September 28, 2019.  

Image result for netlist patentNetlist (NLST) headquartered in Irvine, California, is a leading provider of high-performance modular memory subsystems to the world’s premier OEMs. Netlist specializes in hybrid memory – the merging of DRAM and NAND flash raw materials to create memory solutions. The Company’s patented memory technologies provide superior performance, and high density in a cost-efficient solution. Netlist has a long history of being the first to market with disruptive new products such as the first load-reduced DIMM, HyperCloud®, based on Netlist’s distributed buffer architecture later adopted by the industry for DDR4 LRDIMM. Netlist was also the first to bring NAND flash to the memory channel with its NVvault® NVDIMM. These innovative products built on Netlist’s early pioneering work in areas such as embedding passives into printed circuit boards to free up board real estate, doubling densities via quad-rank double data rate (DDR) technology, and other off-chip technology advances that result in improved performance and lower costs compared to conventional memory. Netlist continues this tradition with the introduction of HybriDIMM, the industry’s first Storage Class Memory product built on commodity DRAM and flash. HybriDIMM is the first SCM product to operate in current Intel® x86 servers without BIOS and hardware changes, and the first unified DRAM-NAND solution that scales memory to terabyte storage capacities and accelerates storage to nanosecond memory speeds. Netlist first gained attention back in 2015 when the Company announced a partnership with Samsung to produce and commercialize its NVDIMM-N solution, HyperVault / NVvault. At the time the product was considered as a potential 3D XPoint alternative.

Netlist holds a portfolio of patents, many seminal, in the areas of hybrid memory, storage class memory, rank multiplication and load reduction, among others. The strength of Netlist’s patent portfolio reflects its many years of research and development and track record of bringing disruptive new products to market. The Company has over 130 issued and pending U.S. and foreign patents. Netlist has been monetizing its intellectual property through a combination of product sales and licensing, royalty and other revenue-producing arrangements. With state-of-the-art, wholly owned, ISO- and OSHAS-certified manufacturing and testing facilities in Suzhou, China, Netlist’s strategy is to marry its unique board-level intellectual property with a thorough understanding of semiconductor building blocks and system-level applications to deliver performance, cost, and time-to-market advantages to OEMs. 

NLST is ex Nasdaq having been delisted on January 3, 2018 and we have been reporting on the Company for years. OTC speculators love ex big board stocks for their ready liquidity and proven ability to make spectacular moves once on the bb’s and NLST is proving to be no exception as investors look ahead and a return to a higher exchange. 

The Company is led by founder and CEO Chun K. Hong. Prior to Netlist, Mr. Hong was president and chief operating officer of Infinilink Corp., a communications software company based in Irvine, CA. Prior to that, he was executive vice president of Viking Components, Inc., a memory manufacturing company based in RSM, CA. From 1983 to 1998, Mr. Hong held various management positions at LG subsidiaries in South Korea and in the U.S. He received a B.S. degree in economics from Virginia Commonwealth University and an M.S. degree in technology management from Pepperdine University’s Graduate School of Management. According to recent form 4’s Mr. Hong has sold 550,215 shares of NLST stock on 02/09/2021 at the average price of $1.01.

Mr. Hong has assembled an impressive management team including Gail Sasaki, the Company’s VP and CFO who joined netlist in 2006 and helped take the Company public. Prior to Netlist, Ms. Sasaki served as Senior VP of Finance and Treasurer at eMotion, Inc., previously a subsidiary of Eastman Kodak. The Companys Chief Licensing Officer is Marc Frechette who has more than eighteen years of licensing and patent prosecution experience and most recently served as Senior Vice President and Senior Counsel at WiLAN, where he managed their U.S.-based licensing business unit. Other executives in Netlist are Paik Ki Hong, Todd Levy, Scott Milton, Tinh Ngo, and Jerry Alston. 

Microcapdaily has been reporting on Netlist since November 9, 2018 and was here too last summer when the stock was under $0.25. On July 18, 2020 we stated on Netlist: “The stock is quickly emerging as the darling of small caps, attracting legions of shareholders ever since the U.S. Court of Appeals for the Federal Circuit affirmed the U.S. Patent Trial and Appeal Board’s decision upholding the validity of Netlist’s U.S. 7,619,912 (‘912) patent that applies to DDR server memory modules. The decision is final and binding on future cases and represents a resounding win for Netlist. The (‘912) patent is a seminal patent; an invention so impactful that it creates or shifts the technology space. This ruling has much larger implications than just GOOG which will more than likely set the tone for other settlements long overdue here. 

NLST CEO C.K. Hong who fired his BOD giving him full control of the Company and the ability to make big decisions quickly stated at the time of the U.S. Court of Appeals decision: “For ten years Netlist has steadfastly opposed Google’s misguided campaign to invalidate the ‘912 patent,” said Netlist’s CEO, C.K. Hong. “We are very pleased that in the end the appellate court made it clear that the claims of this seminal patent are indeed valid and in so doing, further vindicate our decade-long defense of the company’s strategic intellectual property. We will now move to lift the stay in the patent infringement lawsuit against Google in the U.S. District Court for the Northern District of CA., in order to recover current and past damages related to the ‘912 patent.” 

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NLSTIn November Netlist reported financial results for the third quarter ended September 26, 2020. Net sales for the third quarter ended September 26, 2020 were $10.2 million, compared to net sales of $6.1 million for the quarter ended September 28, 2019. Gross profit for the quarter ended September 26, 2020 was $1.3 million, or 13.1% of net sales, compared to a gross profit of $0.5 million, or 7.4% of net sales, for the quarter ended September 28, 2019. The Company had a net loss of $0.01 per share. As of September 26, 2020, cash, cash equivalents and restricted cash was $17.5 million, total assets were $28.3 million, working capital was $13.6 million, total debt and accrued interest, net of debt discount, was $20.2 million, and stockholders’ deficit was ($1.2) million.

On January 20 Netlist announced the expansion of its research and development team with the appointment of Raj Gandhi as Vice President of ASIC Engineering. Mr. Gandhi brings more than 30 years of experience in integrated circuit (IC) development engineering. He was recently the Vice President of IC Engineering at Marvell, as well as at Cavium. Previously, he had a long tenure at QLogic Corporation, holding various positions including Principal Engineer and Vice President in the IC Engineering division. Mr. Gandhi holds a B.E. in Electrical and Electronics Engineering from the Maharaja Sayajirao University of Baroda and a M.S. in Computer & Systems Engineering from the Rensselaer Polytechnic Institute. 

C.K. Hong, Netlist’s Chief Executive Officer said, “We are excited to have Raj bring his deep experience in IC engineering to our ASIC controller development team, and look forward to his leadership as we continue to advance the productization of HybridDIMM™ on the CXL bus.” 

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NLST is making that slow steady powerful rise up the charts in recent months that speaks of big things coming on the horizon. The stock is quickly becoming a leader in small caps regularly trading $3 million plus in daily dollar volume and attracting legions of new shareholders who continue to bid the stock higher. Many naysayers suggested the stock would drop off its July highs after the U.S. Court of Appeals for the Federal Circuit affirmed the U.S. Patent Trial and Appeal Board’s decision upholding the validity of Netlist’s U.S. 7,619,912 (‘912) patent that applies to DDR server memory modules. While NLST did give back some gains at the time the stock has been moving up steadily with power ever since. Microcapdaily suggested in July that there were way too many good things happening here for Netlist not to keep rising.  Netlist is easily among the most exciting stories in small caps; the big story picked up in July after the US Court of Appeals for the Federal Circuit affirmed the U.S. Patent Trial and Appeal Board’s decision upholding the validity of Netlist’s U.S. 7,619,912 (‘912) patent that applies to DDR server memory modules. The decision is final and binding on future cases and represents a resounding win for Netlist. The (‘912) patent is a seminal patent; an invention so impactful that it creates or shifts the technology space. This ruling has much larger implications than just GOOG which will more than likely set the tone for other settlements long overdue here. Netlist holds a portfolio of patents including over 130 issued and pending U.S. and foreign patents, many seminal, in the areas of hybrid memory, storage class memory, rank multiplication and load reduction, among others. The Company’s sales are on a steep rise; Net sales for the third quarter ended September 26, 2020 were $10.2 million, compared to net sales of $6.1 million for the quarter ended September 28, 2019. We will be updating on Netlist when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Netlist.

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Disclosure: we hold no position in NLST either long or short and we have not been compensated for this article.

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