Zerify Inc (ZRFY)

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Other income (expense) for the nine months ended September 30, 2016 was $5,722,652 as compared to $593,562 for the nine months ended September 30, 2015, representing an increase in other income of $5,129,090, or 864%. The increase was primarily due to the confidential net settlement of patent remediation litigation, which was settled in January 2016, the extinguishment of derivatives relating to the payoff of convertible debt and forgiveness of debt, offset by interest expense.



Our net income (loss) for the nine months ended September 30, 2016 was $4,306,356 compared to a net loss of ($265,826) for the nine months ended September 30, 2015, an increase in net income of $4,572,182, or 1,720%. The increase was primarily due to the confidential net settlement of patent remediation litigation, which was settled in January 2016, the extinguishment of derivatives relating to the payoff of convertible debt and forgiveness of debt, offset by increases in SGA expenses and interest expense.

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