I have a quick question regarding the 8K disclosure requirements since much like everyone on this board; I too would like to know how much money we are receiving from the Fujitsu agreement. There has been a lot of talk on this subject as to when the 8K will be filed, and not really knowing the answer myself, decided to read the SEC 8-K Disclosure requirements. The SEC document is 90 pages long, and well, it gave me a headache so I found a summary version:
http://www.coudert.com/news/client_advisory/040819_8k_requirements.pdf
Based on what I read, the receipt of cash from Fujitsu would be covered under the following requirement therefore an 8-K is not required, or is it?
New Disclosure Requirements
The newly required Form 8-K disclosures are the following:
•entry into a material agreement (other than in the ordinary course of business);
Reason I ask is that I am assuming that the money from Fujitsu could be considered “ordinary business” since that is what we do….license our products therefore they do not have to file an 8K. Had the money resulted from litigation, than it would be outside the realm of “ordinary business”, and they would have to file an 8K within 4 business days. Do I understand this right or have I just totally confused the subject? Any insight/help appreciated. TIA and GLTA
For those of you who do want to read the SEC Form 8-K Disclosure Requirements:
http://www.sec.gov/rules/final/33-8400.htm