I can't help but think that the cross licensing agreements are adding value to the corporate assets that aren't being properly recognized in the shareprice. At this point it's hard to recognize what that value represents as disclosures are vague at best. If the language of these agreements allows for the transfer of the cross licensing and isn't restricted, then each settlement that provides for cross licensing adds significant value to our asset base. If it's not transferrable then less so, as it could only be utilized for our own purposes. The idea of the cross licensing being transferrable would permit other entities access to those licenses if we were to be acquired as part of a future settlement process.

What I'm suggesting assumes continued cross licensing agreements as part of future settlements. It means that with each new settlement corporate value appreciates because cross licensing enables more and better designs with out licensing fees. If the cross licensing is transferable, then another company could utilize the license if they acquired us. Consider the negotiation process after 20 - 30 settlements down the road and that many cross licensing agreements under our belt. A larger Texas Instruments sized company might feel that a buy-out is a much more attractive settlement than a one time licensing fee. Those prevously negotiated cross licensing agreements, if transferrable would permit the acquiring corporate entity unrestricted access to our negotiated cross licensing agreements.

I grant that this logic is a bit over the top at this point in time as it assumes transferability with no restrictions. We are not privy to the details of these negotiated settlements but at the very least, the shareprice at the moment is pretty much static since the IP process began. We were trading at roughly .10 / share prior to the announcement of the first settlement back in late Sept. and we are trading in the same range today, two settlements later with one more pending. I really don't feel that the shareprice is taking into account the value that cross licensing is bringing to the process and it may not be properly valued until eDigital sheds additional light as to what's going on.