HTC Settlement Amount Range
posted on
Jan 15, 2015 09:50AM
Per the PDS Balance Sheet and Statement of Operations in the 10q, the PDS cash balance on Nov. 30 was $315,680 and they had an accounts payable balance of $743,243. They also had $179,284 in expenses for the last quarter.
"On October 3, 2013, the jury returned a verdict in favor of us and TPL, finding that HTC had infringed the ‘336 patent with damages of $958,560. HTC appealed the jury verdict and we filed cross appeals regarding the period available for infringement damages related to the ‘890 patent. On December 30, 2014, the parties filed a joint motion requesting continuance of oral arguments and advised the court that a settlement which would result in the dismissal of the pending appeals had been reached. On January 7, 2015, the parties filed a stipulated motion to voluntarily dismiss the HTC appeal and our cross appeals on the basis of the settlement agreement."
"On January 9, 2015 PDS’s cash balance was $1,686,784."
Therefore, it would seem that HTC paid roughly the difference between the current cash balance of $1,686,784 minus $315,680 cash balance on Nov 30, which would total $1,331,104. That should be the low end figure.
If PDS paid of their entire payable balance and has had similar expenses to date THIS quarter and paid those off as well, then the high end of the settlement would be and additional $743,243 and approx 45% of $179,284 for expenses so far this quarter. That would add an additional $80,677. Adding those to the total would bring it to $2,155,024. This would be the high end figure of the settlement IMO.