These are not surprise but possible risks that could materialize:

Main concern is the low burn rate that PC mentioned at EC will likely ramp up due to legal fees, new IP applications, negotiating and vetting costs of multiple agreements and listing costs if they decide to go NASDAQ. The current cash is expected to last to mid 2015. If no deals are done by the late fall then they could run out of cash runway and may have to dilute.

PC said new cashflow (no indication of size and difficult to predict) expected late 2014 early 2015 so hopefully they get those done. If they go the licensing route as many on this board have indicated as their preference they will need more people or contracts to operationalize a new business that has basically been a research and development company. Once you have the deals working and the IPs to protect you are in a new world and need to manage very differently and require new internal and external controls to ensure you protect your IPs and effectively manage the money. They will then become valued on their net profit margin generated and projected.

One area of concern could be an underwhelming deal that generates cashflow that is unimpressive to the market.

Hopefully they don't run out of cash runway and do a short notice share offering or unreasonably priced loans.

Another possible issue is that the existing silicon guys could play dirty tricks give the amount of money and capital assets at risk.