The Company entered into two new Nunchi license agreements during the third quarter of fiscal 2017, and during the first quarter of fiscal 2017, the Company entered into two new license agreements covering three defendants.

Our monthly cash operating costs average approximately $70,000 per month. However, we may increase expenditure levels in future periods to support and expand our revenue opportunities and continue advanced product and technology research and development. Our quarterly results are highly dependent on the timing and amount of licensing fees and accordingly quarterly results can vary dramatically from period to period. As a result of this and other factors, past results and expenditure levels may not be indicative of future quarters.