vringo inc (V9G) Snapshot

Vringo, Inc. reported earnings results for the first quarter ended March 31, 2013. Cash used for operating activities during the first quarter of 2013 was $4.8 million. Net loss for the first quarter of 2013 was $12.0 million, mainly attributable to operating legal costs of $5.1 million, recorded in connection with legal proceedings, as well as $4.3 million of non-cash expenses for amortization and depreciation and non-cash share based compensation. On a per share basis, net loss was $0.15 per basic share in the first quarter of 2013 as compared to a loss of $0.43 per basic share in the first quarter of 2012 (pre-merger figures). The decrease in basic loss per share was mostly due to an increase in the number of shares, partly offset by increased costs reflecting the post-merger operations of the combined company.

On May 4, 2013, Seth M. Siegel resigned from his position as a member of the board of directors of Vringo Inc. and its subsidiaries and as a member of all committees of the board of directors on which he serves. On May 6, 2013, H. Van Sinclair was appointed as the company's lead independent director. On May 6, 2013, upon the recommendation of the Nominating and Corporate Governance Committee of the board of directors of the company, the board of directors appointed Noel J. Spiegel as a member of the company's board of directors effective immediately to fill the vacancy created by the resignation of Mr. Siegel from the board of directors of the company and to hold office until his successor is duly elected and qualified. Mr. Spiegel will serve on the Audit Committee, effective immediately following the filing of the company's Form 10-Q for the quarter ended March 31, 2013, and the Compensation Committee, effective immediately, of the board of directors.

Vringo, Inc. will be added to NASDAQ Composite Index.