In response, I'll share what I've been thinking.... I'm thinking that one of the two following scenarios is what is going on.

That there has been determined to be no dollar threshold for making a singular license deal "material". It's all just business as usual.

OR

That the supposed threshold of $225/240M was for a SINGLE license, not the aggregate value of three or more licenses. After all, the execution of each license was an individual "event".

As for the prohibition against insider (company rep) trading, I think you're confusing "material event" with "insider info". Looking at either scenario above, there is no single dollar-based material event, but the fact that there have been a slew of signings already this quarter with an unknown (except to insiders) aggregate value - THAT'S the insider info that should not be traded upon by insiders.

And yes, IMO the financial results for the quarter will be material, and that's why they will have to be reported in April. But that's just inherent to the financial reporting system/requirement (regardless of actual results).

Bottom line IMO, it's the AGGREGATE value of all the licensees this quarter that causes the insider trading prohibition.

FWIW, JMHOs, and I KNOW nuttin'!

SGE