Zerify Inc (ZRFY)

[Baffic]

No license agreement with MSFT and SFOR has ever been announced, but that does not mean there is not one.

FYI: this subject is a "can of worms" here. Basically it comes down onto how you read the following.

MS Settlement: https://www.sec.gov/Archives/edgar/data/1285543/000147793216008173/sfor_8k.htm
"Both actions were filed in the U.S. District Court for the District of Delaware. On January 15, 2016, the litigation was settled and the parties executed a settlement agreement in the form of a Release and License Agreement. The terms and conditions of the Release and License Agreement are confidential except under limited conditions. As a consequence of the Release and License Agreement, the parties have moved to dismiss the action with prejudice, the Company has licensed the patents to Microsoft Corporation, and the Company will receive a non-disclosable one-time lump sum payment."

Some say the lump sum IS the cost of the licensing agreement. I think it is in addition based on the grammar. Your call to which way you think it is reads.

Repost of how I read it:
The way I read it is: "As a consequence of the Release and License Agreement ..." 3 things happened:
1 "... the parties have moved to dismiss the action with prejudice, " (Release)
2 "... the Company has licensed the patents to Microsoft Corporation, " (License)
3 "... and the Company will receive a non-disclosable one-time lump sum payment." (Release)

1 means lawsuit ends
2 means MS signed a License Agreement and the previous sentence states it is confidential
3 means a non-disclosable one-time lump sum payment for the lawsuit settlement (later shown as $9.7 million in the financials)

Bob had a blue, yellow, and red book. => Bob had 3 books
Bob had a blue, yellow and red book. => Bob had 2 books. One is blue and one is yellow and red

Note: I will not try to argue this again.