Replies to post #20002 on Adaptive Medias Inc (fka ADTM)

[DeltaChi]

"Now, has AdaptiveMedias mentioned this lawsuit, which wants over $1 million dollars mind you, in any of their earnings reports?"

Yes

From 10K: "On January 27, 2015, the Company has become aware of a recent cross-complaint filed by the former CEO of OneScreen. (Patel v. OneScreen, Adaptive Media, Inc and Qayed Shareef). The Company believes it has sufficient defenses against any of the claims in this matter and intends to vigorously defend its position."

From 10K/A: "On January 27, 2015, the Company became aware of a recent cross-complaint filed by the former CEO of OneScreen. (Patel v. OneScreen, Adaptive Media, Inc and Qayed Shareef) in connection with the Company’s purchase of Media Graph in 2014. The complaint alleges that the transaction violated the Uniform Fraudulent Transfer Act and that Mr. Shareef made certain statements which cast Mr. Patel in a “false light” in the presence of various employees of the Company. The Company believes it has sufficient defenses against any of the claims in this matter and intends to vigorously defend its position.

"The Company does not believe the ultimate outcome of these proceedings will have a material adverse impact on the Company’s consolidated financial statements."