e.Digital Corporation (fka EDIG)

[Cassandra]

Chuck, kudos to you and Milplease!!!

You did something very rare on agoracom... you cleared up an important question by deciphering and then explaining what EDIG stated in its SEC filings.

You both showed that Q3 revenue reported in the 10Q included 2 settlements -- both Casio and Nikon. Based upon 10Q statements, you and he were also able to calculate the value of each -- one was $1.65 mil and the other $2 mil -- and also that the later one, Nikon, was the higher based upon what was stated about the AR at 12/31/08.

This is an excellent factual post: http://agoracom.com/ir/edigital/forums/discussion/topics/311518

The 12/17/08 PACER filing stated that EDIG and Nikon had already reached a settlement. IMO, EDIG intentionally delayed the Nikon PR into Q4 for the purpose of creating the impression that only one settlement would be reflected in Q3 to mislead investors.

In fact, Falk and Putnam admit on page 26 that as of 12/31/08, they have not released the information that is required to be disclosed within the required time frame:

Item 4. Controls and Procedures
Based on an evaluation of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended) required by paragraph (b) of Rule 13a-15 or Rule 15d-15, as of December 31, 2008, our President and CEO (“Principal Executive Officer” or “PEO”) and Interim Chief Accounting Officer (“Principal Financial Officer” or “PFO”) have concluded that our disclosure controls and procedures were not effective in ensuring that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Commission's rules and forms.

http://www.sec.gov/Archives/edgar/data/886328/000114420409006638/v139369_10q.htm

As has always been the case, it necessary to carefully analyze EDIG's SEC filings, which usually paint a different picture than the impression the company gives in its PRs.