Re: PACER digEcor
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Message: PACER digEcor
The 10K ending March 31, 2009:
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"We accrued an additional $100,000 of litigation settlement costs in the fourth quarter ended March 31, 2009 as a result of settlement discussions prior to trial for the digEcor litigation (see “Legal Proceedings”).We expect significant legal costs in our first quarter of fiscal 2010 ending June 30, 2009 due to trial related costs. While we believe our total litigation and deposit accrual of $180,000 at March 31, 2009 related to this matter is adequate, we are unable to determine at this time the impact this litigation may have on our financial position or results of operations."
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10Q ending June 30, 2009 (Q1 fiscal 2010)
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Operating Expenses
Selling and administrative costs for the three months ended June 30, 2009, were $576,672 compared to $538,895 for the first quarter of the prior year. While most cost categories were comparable we have experienced an increase in litigation related legal expenses of $157,000, offset by a $78,000 reduction in staffing costs due to reduced personnel.
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Not that significant to the bottom line...($79K)
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