Zerify Inc (ZRFY)

[brooklyn13]

Wow, they signed on to repaying $7.5M, plus future royalties, as repayment for a $1.5M loan?

ZRFY has no incentive to actually litigate this, other than giving it lip service, since the money is repaid "only in the event that the company achieves recoveries.....". I seem to remember another $1M loan to pursue patent litigation a few years ago, but maybe it was this one and I misremember the amount.

Regardless, having to repay 5X + on a loan is sheer desperation and the terms indicate an implicit unwillingness to act in good faith by the company. Which should surprise no one who follows this company and makes one wonder how the lenders could possibly have made the loan.

Back then, in 2017, BlankRome was representing SFOR on contingency. Ropes & Gray did charge for the miserable job they did at Appeals Court, but there's no way it came to $1.5M. Where did the money actually go? Again.