From the annual report:

“In fiscal 2010, we made solid business progress by successfully concluding our first round of flash memory-related IP cases and filing a second round against nineteen companies in Colorado, with two companies from the second round settling and agreeing to pay ongoing royalties,” commented Fred Falk, president and CEO of e.Digital. “We also prevailed in the digEcor litigation and paid off all corporate debt.”

There is no debt going forward, cash on hand, 16 pending settlements, 170+ infringers in the pipeline, Duane Morris LLP fully engaged, a Markman hearing scheduled for next month, infringement enforcement news to precede the Markman hearing and material events to be announced, starting tomorrow.

As I can see your point, this was, and is, a penny stock that survived a tech bubble pop and the worst recession in decades.

I think he accomplished his long term goal, to enforce and monetize the company's intellectual property.

I hope, as does just about everybody, that this marks EDIG's ascent to the next level.

I have previously stated that current management exiting for new management is a testament to their success, not an indictment of their efforts.

Let's hope tomorrow's news confirms that concept.