Message: From 2/14/17 quarterly (opinion)
reporting ending 12/31/16:
appears 16,164 paid in Contingent royalties for preceding 9 months......with less paid out in the most recent quarter ending 12/16
This appears to be in relation to the 4% (guess) contingent inventor royalties...see other excerpt below:
if so, then based on nunchi net revenue for 9 months of about 400k....math sorta works..
Commitment Related to Intellectual Property Royalties
The Company is obligated for inventor royalties of 4% of net Nunchi license revenues for the term of related patents, currently 2030.
| For the three months ended December 31, (unaudited) |
For the nine months ended December 31, (unaudited) |
|||||||||||||||
| 2016 | 2015 | 2016 | 2015 | |||||||||||||
| $ | $ | $ | $ | |||||||||||||
| SEGMENT REVENUES: | ||||||||||||||||
| Products and services | – | – | – | 16,031 | ||||||||||||
| Patent licensing | 151,000 | – | 744,366 | 693,500 | ||||||||||||
| Total revenue | 151,000 | – | 744,366 | 709,531 | ||||||||||||
| SEGMENT COST OF REVENUES: | ||||||||||||||||
| Products and services | – | – | – | 8,256 | ||||||||||||
| Patent licensing and litigation costs | 65,000 | 112,500 | 282,500 | 337,500 | ||||||||||||
| Contingent legal fees expenses and recaptures | (263,552 | ) | 5,261 | (41,050 | ) | 292,156 | ||||||||||
| Contingent royalties | 1,139 | – | 16,164 | – | ||||||||||||
| Total cost of revenues | (197,413 | ) | 117,761 | 257,614 | 637,912 | |||||||||||
| RECONCILIATION: | ||||||||||||||||
| Segment income (loss) before corporate costs | 348,413 | (117,761 | ) | 486,752 | 71,619 | |||||||||||
| Other corporate operating costs | 275,048 | 246,908 | 826,422 | 910,945 | ||||||||||||
| Operating income (loss) before other income and provision for income taxes | 73,365 | (364,669 | ) | (339,670 | ) | (839,326 | ) |
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