Our revenues were $4.7 million in fiscal 2012 compared to $1.3 million in fiscal 2011. During fiscal 2011 we licensed one company from the November 2009 (second) round of litigation. During fiscal 2012 we licensed eight companies from the second round of litigation and licensed an additional company outside of the litigation. As a result of the timing of such license agreements, our licensing revenues in fiscal 2012 were $4.1 million compared to $0.2 million in fiscal 2011. eVU product and service revenues were $626,772 in fiscal 2012 compared to $1,065,000 in fiscal 2011.

� Our gross profit for the year ended March 31, 2012 was $2.9 million or 62% of revenues compared to $0.5 million or 39% of revenues for the comparable prior year as a result of the increased licensing revenue.

We recognized a net income of $1,195,072 compared to net loss of $1,083,211 for fiscal 2011. The difference in results was primarily attributable to higher license revenues and margins due to the timing and amount of individual license agreements.

However, the majority of patent infringement contentions settle out of court, based on the strength of the patent claims, validity, and persuasive evidence and clarity that the patent is being infringed. We believe we are building a track record of demonstrating the strength, validity and clarity of our patent claims and that we can result in significant future revenues from our patent portfolio.