My numbers are correct... That is why I added the .94... that is the % of the total revs that has to deal with Adwords... on a side note. The royalty is .3% of GOOG rev for the quarter... Which if you take their current MC and multiple it by .3% you get 643 million. So VRNG MC should be 643 million just with the future royalties. So when you add everything else on the MC should be pushing a billion. Also, this is just for GOOG part of the royalties... The other 4 are on the hook for future royalties revs as well.