CopyTele Financial Report Points to Low Dollar Settlements
- January 23, 2014
CopyTele’s 10-K for the year ending October 31, 2013 revealed the company’s first revenue and licenses since converting to a patent assertion entity. CopyTele (CTI) reported $389,000 in licensing revenue in its fiscal fourth quarter. The company entered into four licensing agreements on two of their portfolios in October 2013: Three of the settlements were in connection with CTI’s window frame construction technology (Tafco Corporation, RGF Industries, and Elixir Industries) and one settlement involved CTI’s loyalty conversion systems portfolio (Alaska Air Group). For CTI’s full fiscal year, inventor royalties and litigation, licensing, and contingent legal fees combined totaled $317,000, or 82% of revenue. Based on reported revenue and the four disclosed settlements, CTI’s average settlement amount was less than $100,000.