Zevotek, Inc. (ZVTK)

[IcePickr]

Viatek pays a royalty to Zevotek...

This is from a SEC filing.

http://sec.edgar-online.com/zevotek-inc/10-q-quarterly-report/2009/02/12/section14.aspx

Viatek Litigation/Settlement . On November 5, 2008, we, and our wholly owned subsidiary (the “Plaintiff Parties”) and Jason Ryu entered into a settlement agreement (the “Settlement Agreement”) with Viatek Consumer Products Group, Inc. (“Viatek”), (collectively, the “Defendant Parties”).

The Settlement Agreement was entered into in connection with an amended complaint filed by us in May 2008 against the Defendant Parties in the United States District Court for the Southern District of New York (the “Lawsuit”).

Under the terms of the Settlement Agreement, the Plaintiff Parties and the Defendant Parties have agreed to full and complete settlement and general release of all claims asserted by the parties regarding the subject matter of the Litigation. In consideration for this settlement of claims, Viatek agreed to pay us a royalty on the Net Sales of Viatek Ionic Bulbs. Further, the parties agreed to a joint stipulation for dismissal with prejudice of the Lawsuit, which was filed on November 12, 2008.