EFT Holdings Inc. (fka EFTB)

[funnyG986]

EFTB pick up some $0.015. 10Q shows $14M lawsuit win; $6M cash in hand; 75M OS and 7M in float

On October 15, 2015, the Company reached a settlement agreement with Meifu and TransGlobe. Pursuant to the settlement agreement, EFT Investment received an office building and associated land with fair market value of approximately NTD 305 million (approximately $9.3 million) and cash of approximately NTD 153 million (approximately $4.7 million) from Meifu and cash of approximately NTD 76 million (approximately $2.3 million) from TransGlobe. The Company recorded a gain of $13.8 million from this settlement, net of all related settlement charges, commissions and fees, in the quarter ended December 31, 2015. As part of the settlement agreement, the Company agreed that it would pay Meifu up to NTD130 million (approximately $4 million) and pay TransGlobe up to NTD13.5 million (approximately $0.4 million) if a certain tax return is not refund from the government. (See Note 11)

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11198902