First off let me admonish some of the misinformation that was posted by posters that should know better - no Rick, we were never told who asked for the NDA; ease, please tell me where you see $17 million in expenses reported this quarter, and lastly I don't believe Turley ever said anything about 10's of millions in future revenue. That was an assumption by some, but the actual words referring to the future were not there.
I'm as mystified, pissed and dumbfounded as everyone else. The common theme is that these numbers just don't make sense. I've come up with a scenario in my mind that makes sense and answers most or all of the questions. By no means to I know if I am even close to being right. In fact I would like an opinion from ronran and/or milestone on whether what I am saying makes sense from a legal logistic standpoint.
I don't think we will be recieving royalties. IMO if we were then the financials would be misleading. They state that the revenue recognition policy is to record revenue when a license is signed. They don't say that this has changed this quarter, which is where the misleading would come into play if we were to receive royalties and/or any kind of future payments.
What I do believe (pray) is possible is that the J's signed a license agreement for a minimal amount. That amount has to be and IS included in the numbers reported. However I believe the agreement could be that should the patents be validated by the USPTO the original license agreement will be superceded by a new agreement that calls for license payments much more in line with our expectations. This may explain the need for the MOU. This would possibly explain the "low" amounts of license revs generated from this past quarter. It would explain the need for "secrecy".
Unfortunately if this is the case we are in limbo. Goerner won't be able to tell us any more than what was in the 10q. I don't see his letter tomorrow being any more than a "hang in there" message.
Again, I may be grasping at straws here. But again as everyone has said, this just doesn't make sense. Don't buy, sell or hold on what I think. Just consider it.
