Friday, April 19, 2024 12:33:57 PM
IN 2013, ZRFY (then SFOR) settled patent litigation with Microsoft on the out of band verification technology. At the time it was characterized as Microsoft doing away with a nuisance lawsuit by paying a few hundred thousand dollars to ZRFY.
In Note 8 of the 2022 10-K
So:
a) The first $1.5 million of any infringement recovery goes to Therium following by an additional piece of any other patent recovery. That deal is almost 7 years old and Therium is still waiting for their money. What company is going to be foolish enough to front more litigation when the 7 year old litigation plan has not produced any recovery...and that new financier will have to wait until Therium gets their $ 1.5 million first.
b) The validity of the patents has never been demonstrated nor has ZRFY ever proven that anyone has violated those patents.
c) Mark Kay lies. Constantly. Always, really. If you believe what Mark says about patent litigation, about pending deals or even what he says about the sun coming out tomorrow you do so are your own peril.
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