Our takeaway from the Wireless Ronin Technologies’ (RNIN) Q1 2014 Results Earnings Call Transcript is that they are in negotiations at this very moment to merge with Delphi Display Systems.
Liquidity and Capital Resources / Going Concern we quote “At March 31, 2014, we had cash, cash equivalents and restricted cash of $725K and working capital of $389K … At March 31, 2014, we had no outstanding balance and no borrowing capability on our line of credit with Silicon Valley Bank”.
It continued “In this regard, on May 5, 2014, we entered into a non-binding letter of intent with a private company in our industry and have begun our due-diligence examination of that company. The private company has similarly begun its own due-diligence examination of our Company”.
We’ve said before that Delphi don’t choose their partners particularly well, see ‘Oops @DelphiDisplay Marries Corpse Bride‘ and it’s our guess that the LOI referenced in the earnings call is to do with them.