A question for KSWW.OB:
The Lawsuit had been tried for 47 days and further trial proceedings were pending. Pursuant to the Stipulation of Settlement, all claims and counterclaims will be discontinued and the Company will receive cash payments totaling $2,900,000, with $1,200,000 payable on or before December 15, 2005, and $850,000 payable on or before March 31, 2006, and $850,000 payable on or before September 30, 2006. The Company will recognize a gain of approximately $888,000 as a result of the Settlement.
How much did the company receive in last quarter? 1.2M or the total 2.9M?
The company should record that $850K as a revenue in this quarter, as I understand.
