Zerify Inc (ZRFY)

[4sleddogs]

When SFOR brought on R&G they mentioned their retainer. When I researched Ropes & Gray's retainer fees I came up with a range between $300K and half a million dollars! Under accounts payable a retainer fee may be entered under administrative expenses. Where as legal fees would be the appropriate catagory for invoiced hourly expenses by each lawyer. When asked how SFOR is paying R&G's high hourly rate Kay clammed up with a firm "no comment" on the details. This indicates to me that although R&G may be on contingency for legal hours, SFOR had to put some skin in the game (up to a half million dollars) for them to do that risk wise. That would have been the fiscally prudent thing for R&G to insist on. That in my opinion is why administrative expenses were over $800,000. I believe this will prove to have been a wise investment of company funds in the long run. We now have the best IP gun slingers on our side but they didn't come cheap or completely free (completely on contingency).