e.Digital Corporation
Notes to Consolidated Financial Statements
March 31, 2008
"Duane Morris has agreed to handle the Company’s Patent Enforcement Matters and certain related appeals on a contingent fee basis. Duane Morris also has agreed to advance certain costs and expenses including travel expenses, court costs and expert fees. The Company has agreed to pay Duane Morris a fee equal to 40% of any license or litigation recovery related to Patent Enforcement Matters, after recovery of expenses, and 50% of recovery if appeal is necessary. "
They are already in on eight cases to date, although there was FUD prior to the first filings.
I suspect they want POSITIVE results as much, if not more, than we do....this is a speculative investment for us but this is how Duane Morris LLP earn their living.
