Article in Electronic Design (11.15.07, pg 68) on Immersion's new touchscreen technology using vibrations to create the "feeling" of a button being pushed on screen intrigued me. Technology has applications in ATMs, kiosks, military, medical, and lots more, especially in cell phones. It takes 20K of RAM and 40K ROM to implement, plus about 1 MIP processor power, 2 pulse mod lines and 2 I/O lines. In Q1, Sony lost patent infringement suit and paid IMMR $135M and will pay an additional $1.875M per quarter for next three years. Then, payment drops to $750K per quarter for ten years. Long-term catalysts: * VW will use IMMR touchscreens on all '08 vehicles * 3M Touch has licensed Immersion's technology for slot machines * LG has licensed IMMR technology for a new cell phone * NOK has licensed technology for new cell phone * RIMM will use it also in their new touchscreen-only device. For what it's worth, IMMR has authorized a $50M share repurchase. If any is actually spent, it probably will be enough to reduce dilution from insiders exercising options. Only analyst following IMMR is Thomas Weisel which hasn't re-rated it since May 2006 when reduced to "peer perform." Some of the recent selloff has come from a 2004 5% convertible debenture which became redeemable when stock price exceeded $14.053 for more than 20 days. It did that back in July and company redeemed. That caused conversions to 2.6 million shares at $7.03 each, and it looks like the bulk of these were then sold, driving the price down. Furthermore, warrants for another 426,951 shares at $7.03 will also expire Dec 23rd and that added some selling pressure. Once that's off, steam can start building.