Let me explain why KIRK'S "Gut feeling" of $12/share is the based on the same rationale of "Factoring In the intangibles"...

1) EDIG is not a BANK that you look for it's "Book Value", and then come up with a number what it's "Value" will be to a prospective "Buyer" like Samsung...

2) If Samsung was in the Market to corner the FLASH MARKETS, [and they are], the first question they ask themselves is (A) how does EDIG fit in that strategy?

The second question they ask themselves is; (B) does it make more sense to wrap up this Law Suit with EDIG and buy them out for $3.6 Billion dollars instead of going after SanDisk, (who uses edig tech imprinted on their chips), and several others who will cost us as much if not more.

And Lastly they ask themseleves the most important question; (C) What is the valuation of us buying the "SWORD OF DAMOCLES", [otherwise known as EDIG "IP MONETIZATION", which is hanging over the head of all those infringing widget makers, thus blanketing the world with widgets made by SAMSUNG in the foreseable future.?

For EDIG, on the other hand, becoming a part of SAMSUNG conglamorate makes great sense.

DM'S Tier I., 8 defendant Law suit was to genrate some cash for "Expenses such as stamps, expert money, and other costs" associated with such Law suits. Samsung was named as the one defendant that would go to a Markman Hearing and give DM his positive Ruling which would be the foundation of his law suits against all the other Biggees we know, such as INTEL, TEXAS INSTRUMENTS, APPLE, HP, and 160 more.

The singular hurdle faced by DM and EDIG in litigating Tier II, III of these law suits is a "Legal" issue that has to go to the Supreme Court, and GO it will.

There is a FEDERAL CIRCUIT COURT DECISION which had some broad language to the effect that if a plaitiff, (EDIG here), volutarily permits its technology to be used by another who plans to sell its products containg such tech in them, then the plaintiff cannot sue a third person who paid good money and bought something containing EDIG Tech put out by one of EDIG'S partners.

My recollection is that the Supremes declined to hear that particular case and there it stands staring DM in the face when he files a Law Suit against all the biggees like Apple ect.

A buy out by SAMSUNG is a marriage made in Heaven for all parties.

EDIG gets some bucks and becomes a separate corporation, part of the 56+ enteties under the SAMSUNG UMBRELA, doing what it does best.

SAMSUNG will probably get all its investment back and then some by becoming the Big Gorilla of the FLASH MARKETS making Billions more than what they put in the deal.

And DM stays around and takes that CIRCUIT COURT RULING back to the Supreme Court by choosing the right set of facts, (among his 174 case), to argue that what EDIG did was the main modus operendi of the SILICON VALLEY of the time, by permitting growth through synergistic utilization of the various parties technologies with the objective of growing a field that was NEW and NOVAL, and thus they should not be penalized for assuming their responsible role among the Group of 5 ICONS of the Industry that had formed to do exactly what EDIG has done. And that Permiting others to reverse engineer their technology and make I=-PODS and such is unjust and ineqitable...

Now you can see that plugging in all such intangibles does create another way of looking at the "VALUE" of EDIG, and $3.6 Billion is a steal IMO...

Good Luck to all...

Gil...