Handal has agreed to handle the Company’s Patent Enforcement Matters on a partial contingent fee basis. The Company will pay a monthly retainer fee of $30,000 creditable against future contingency recoveries. Handal has agreed to advance related expenses excluding experts and prior art search firms. The Company has agreed to (a) pay Handal a fee equal to 33% of any license fee or settlement related to Patent Enforcement Matters, less prior retainers; and (b) reimburse Handal for advanced expenses. The fee is 40% if litigation is required and successful.

We are paying out 30k per month. If a settlement is reached, the 30k paid out over x number of months will be substracted from the 33% owed and the advanced expenses paid by Handal will be reimbursed to Handal.

The 210k has already been paid. If the first settlement transaction is for a million dollars, we would pay a fee of 333,333 (33%) less the 210k (30k x 7) =123,333 net plus estimated advanced expenses of 200k = 323,333 to Handal giving us 676,667 clearing the slate up to that point.

My take on how the 8-k reads.