Acacia Research Reports First Quarter Financial Results.NEWPORT BEACH Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. , Calif. -- Acacia acacia (əkā`shə), any plant of the large leguminous genus Acacia, often thorny shrubs and trees of the family Leguminosae (pulse family). Research Corporation (Nasdaq:ACTG ACTG Acting ACTG AIDS Clinical Trial Group ACTG Actuating/Actuator ) (Nasdaq:CBMX) today reported results for the three months ended March 31, 2006. Acacia Research Corporation comprises two operating groups, the Acacia Technologies
"Acacia Technologies expects significant growth in 2006 annual revenues compared to the $19,574,000 generated in 2005. Revenues for the first quarter of 2006 increased to $4,717,000 compared to $1,863,000 in the year ago period. In the first quarter of 2006, Acacia generated revenues from 21 new licensing agreements covering 9 different licensing programs, including initial licenses of our Laptop Same as laptop computer. laptop - portable computer Connectivity technology to Fujitsu and Sony, and new licenses of our Multi-Dimensional Bar Code technology to Automatic Data Processing Same as data processing. , Boston Scientific The Boston Scientific Corporation (NYSE: BSX) (abbreviated BSC), is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a range of interventional medical specialties, including interventional cardiology, peripheral interventions, and Hitachi," commented Acacia Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Paul Ryan Paul Ryan may refer to:
"Acacia Technologies began generating revenues from 3 new licensing programs in the first quarter and we have now generated revenues from 16 of our licensing programs. We also acquired control of 4 new patent portfolios during the quarter and now control 42 patent portfolios with over 160 patents. Our licensing success is increasing new opportunities for partnering with owners of patented technologies as we move toward our goal of becoming the leader in technology licensing," concluded Mr. Ryan. "The CombiMatrix group recognized revenues of $1,245,000 for the first quarter of 2006. Of this amount, $981,000 was product and service revenue and $264,000 was government contract revenue. Total revenue increased by 16% over total revenue of the first quarter of 2005, but product and service revenue increased by 190% from the first quarter of 2005. Our sequential product and service revenue growth quarter over quarter was 91%, relative to the fourth quarter of 2005. Total revenues for the quarter declined due to one time events such as the previous quarter's recognition of partnership revenue, and this quarter's delay in initiation of our new $2.1 million government contract," commented Amit Kumar, CEO and President of CombiMatrix Corporation. "As our financial performance indicates, our product and service revenue is increasing nicely, and this trend should continue as our products continue to gain acceptance with our customers. Additionally, the launch of products from our diagnostics division, earlier than originally planned, will augment our revenue growth. Our defense contracting revenue for the quarter was modest due to an unforeseen delay in initiation of our new government contract. We expect this revenue to increase in the following quarters. In general, CombiMatrix continues to make good strides in all of its business segments," concluded Dr. Kumar. Acacia Research Corporation Consolidated Financial Results For the Three Months Ended March 31, 2006 and 2005 Consolidated revenues for the first quarter of 2006 were $5,962,000 versus $2,932,000 in the comparable 2005 period. First quarter 2006 revenues recognized by the Acacia Technologies group were $4,717,000 versus $1,863,000 in the comparable 2005 period. First quarter 2006 revenues recognized by the CombiMatrix group were $1,245,000 versus $1,069,000 in the comparable 2005 period. The first quarter 2006 consolidated net loss was $10,098,000 versus $4,950,000 in the comparable 2005 period. The first quarter 2006 consolidated results included non-cash patent amortization, stock compensation and depreciation charges totaling $3,620,000 versus $1,356,000 in the comparable 2005 period. The increase in non-cash charges Non-Cash Charge A charge off, made by a company against earnings, that does not require an initial outlay of cash. Notes: Non-cash charges are typically against the depreciation, amortization, and depletion accounts on a company's balance sheet. primarily reflects Acacia Research Corporation's adoption of SFAS SFAS Statement of Financial Accounting Standards SFAS Special Forces Assessment and Selection SFAS Student Financial Aid Services SFAS Sport Fishing Association of Singapore SFAS Safety Features Actuation System SFAS Statewide Fixed Assets System No. 123 (revised 2004), "Share-Based Payments," ("SFAS No. 123(R)"), effective January 1, 2006, which requires public companies to measure all employee stock-based compensation awards using a fair-value method and record such expense in their consolidated financial statements Consolidated Financial Statements The combined financial statements of a parent company and its subsidiaries. Notes: Because consolidated financial statements present an aggregated look at the financial position of a parent and its subsidiaries, they enable you to gauge . Consolidated stock compensation expense for the first quarter of 2006 totaled $1,743,000 ($293,000 included in research and development expense and $1,450,000 included in marketing, general and administrative expense) versus a credit of $126,000 in the comparable 2005 period. Acacia Research Corporation adopted SFAS No. 123(R) using the modified prospective method, which requires companies to apply SFAS No. 123(R) to stock based compensation awards granted after the adoption of SFAS No. 123(R), and to any portion of stock based compensation awards that were granted prior to the adoption of SFAS No. 123(R) and have not vested by the date that the company adopts SFAS No. 123(R). Accordingly, prior period financial statements have not been modified. First quarter 2006 non-cash patent amortization charges increased to $1,617,000 from $1,190,000 in the comparable 2005 period, due to additional patent portfolio acquisitions since the end of the prior year quarter and to three full months of patent amortization expense resulting from the January 28, 2005 acquisition transaction between Acacia Global Acquisition Corporation and Global Patent Holdings, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ("GPH GPH Gallons Per Hour GPH Gospel Publishing House (Pentecostal Christian publisher) GPH Grams Per Hour GPH Good Payment History GPH Generalized Proportional Hazard(s) GPH Gnome Phone Acquisition"). First quarter 2006 consolidated results also included a non-cash charge of $1,740,000 related to adjusting the CombiMatrix group's long-term warrant liability to fair value as of March 31, 2006. First quarter 2006 government contract costs, incurred solely by the CombiMatrix group totaled $250,000 versus $691,000 in the comparable 2005 period. The decrease was due to the completion of the CombiMatrix group's commitments under its previous $5.9 million biological threat detection contract with the Department of Defense in December 2005. A new $2.1 million contract to further the development of its biological and chemical detector system was executed in February of 2006, resulting in lower contract costs in the first quarter of 2006 versus the comparable 2005 period. First quarter 2006 internal research and development expenses were $2,379,000 (including non-cash stock compensation charges of $293,000) versus $1,140,000 in the comparable 2005 period. During the first quarter of 2006 and 2005, the CombiMatrix group continued internal research and development efforts to improve and expand the CombiMatrix group's technology and product offerings. The increase in internal research and development expenses was due primarily to the impact of the CombiMatrix group's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , CombiMatrix Molecular Diagnostics, which was formed and began research and development activities in the second quarter of 2005. Marketing, general and administrative expenses, including non-cash stock compensation charges, for the first quarter of 2006 were $7,499,000 versus $3,763,000 in the comparable 2005 period. First quarter 2006 marketing, general and administrative expense included $1,450,000 in non-cash stock compensation expense versus a credit of $126,000 in the comparable 2005 period. Excluding the impact of the adoption of SFAS No. 123(R), the increase was due primarily to the addition of licensing and business development personnel for the Acacia Technologies group, an increase in the Acacia Technologies group's consulting expenses related to the GPH Acquisition, and an increase in corporate, general and administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. related to the Acacia Technologies group's ongoing operations. The change also reflects an increase in general and administrative expenses incurred by the CombiMatrix group in connection with the ongoing operations of CombiMatrix Molecular Diagnostics and an increase in other general and administrative expenses related to the CombiMatrix group's ongoing operations. Operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. for the first quarter of 2006 included inventor royalty expenses, totaling $1,283,000 and contingent legal fee expenses, totaling $988,000, incurred solely by the Acacia Technologies group in connection with the recognition of related license fee revenues. First quarter 2006 patent-related legal expenses, incurred solely by the Acacia Technologies group, were $366,000 versus $561,000 in the comparable 2005 period. Patent-related legal expenses included patent-related prosecution and enforcement costs incurred by outside patent attorneys engaged on an hourly basis and the out-of-pocket expenses out-of-pocket expenses n. moneys paid directly for necessary items by a contractor, trustee, executor, administrator or any person responsible to cover expenses not detailed by agreement. incurred by law firms This list of the world's largest law firms by revenue is taken from The Lawyer and The American Lawyer and is ordered by 2006 revenue:[1]
Financial Condition Total consolidated assets were $113,801,000 as of March 31, 2006 compared to $121,434,000 as of December 31, 2005. Cash and cash equivalents and short-term investments on a consolidated basis totaled $53,066,000 as of March 31, 2006 compared to $59,173,000 as of December 31, 2005. Acacia Technologies Group Financial Results (A Division of Acacia Research Corporation) For the Three Months Ended March 31, 2006 and 2005 First quarter 2006 license fee revenues recognized by the Acacia Technologies group were $4,717,000, versus $1,863,000 in the comparable 2005 period. First quarter 2006 revenues included license fees from 21 new licensing agreements covering 9 of our technology licensing programs. The Acacia Technologies group generated revenues from 3 new technology licensing programs during the quarter, and to date, the Acacia Technologies group has generated revenues from 16 of its technology licensing programs. First quarter 2006 license fee revenues included fees from the licensing of our DMT See DSL. (R) technology, Audio/Video Enhancement and Synchronization (1) See synchronous and synchronous transmission. (2) Ensuring that two sets of data are always the same. See data synchronization. (3) Keeping time-of-day clocks in two devices set to the same time. See NTP. technology, Credit Card Fraud Credit card fraud is a wide-ranging term for theft and fraud committed using a credit card or any similar payment mechanism as a fraudulent source of funds in a transaction. The purpose may be to obtain goods without paying, or to obtain unauthorized funds from an account. Protection technology, Enhanced Internet Navigation technology, Interstitial In a separate window. See interstitial ad. (World-Wide Web) interstitial - A World-Wide Web page that appears before the expected content page. Interstitials can be used for advertising (intermercial, transition ad) or to confirm that the user is old enough to view the Internet Advertising Delivering ads to Internet users via Web sites, e-mail, ad-supported software and Internet-enabled cellphones. Also called an "ad network," Internet advertising organizations act as a middleman between the advertiser and the Web sites and software publishers that display the ads. technology, Laptop Connectivity technology, Multi-Dimensional Bar Code technology, Resource Scheduling technology, and Web Conferencing A videoconferencing session via the Internet. In order to interact with other participants, attendees use either a Web application or an application downloaded into their client machines. and Collaboration Software See collaborative software. technology. The first quarter 2006 division net loss was $2,409,000 versus $1,874,000 in the comparable 2005 period. Included in first quarter 2006 divisional results are non-cash stock compensation charges and non-cash patent amortization charges totaling $2,391,000. First quarter 2006 non-cash stock compensation charges were $1,048,000, versus $0 in the comparable 2005 period. The increase reflects the adoption of SFAS No. 123(R), effective January 1, 2006, which requires public companies to measure all employee stock-based compensation awards using a fair-value method and record such expense in their financial statements. The Acacia Technologies group adopted SFAS No. 123(R) using the modified prospective method, which requires companies to apply SFAS No. 123(R) to stock based compensation awards granted after the adoption of SFAS No. 123(R), and to any portion of stock based compensation awards that were granted prior to the adoption of SFAS No. 123(R) and have not vested by the date that the company adopts SFAS No. 123(R). Accordingly, prior period financial statements were not modified. First quarter 2006 non-cash patent amortization charges were $1,343,000, versus $916,000 in the comparable 2005 period. The increase was due to additional patent portfolio acquisitions since the end of the prior year quarter and to three full months of patent amortization expense resulting from the January 28, 2005 GPH Acquisition. First quarter 2006 marketing, general and administrative expenses increased to $3,537,000 (including non-cash stock compensation charges of $1,048,000 related to the adoption of SFAS No. 123(R), as described earlier) from $1,610,000 in the comparable 2005 period. Excluding the impact of the adoption of SFAS No. 123(R), the increase was due primarily to the addition of licensing and business development personnel, three full months of GPH Acquisition related consulting expenses and an increase in other corporate, general and administrative expenses associated with ongoing operations. In the first quarter of 2006, the Acacia Technologies group recognized inventor royalty expenses totaling $1,283,000 and contingent legal fee expenses totaling $988,000, in connection with the recognition of related license fee revenues during the period. First quarter 2006 patent-related legal expenses were $366,000 versus $561,000 in the comparable 2005 period. Patent-related legal expenses included patent-related prosecution and enforcement costs incurred by outside patent attorneys engaged on an hourly basis and the out-of-pocket expenses incurred by law firms engaged on a contingent fee basis. Patent-related legal expenses fluctuate from period to period based on patent enforcement and prosecution activity associated with ongoing licensing and enforcement programs and the timing of the commencement of new licensing and enforcement programs in each period. Since February 21, 2006, the Acacia Technologies group has become involved in one new law suit in connection with the licensing and enforcement of our patented technologies and dismissed lawsuits against seven defendants. We currently have 29 ongoing law suits to enforce our patented technologies against a total of 104 defendants. Financial Condition Total assets for the Acacia Technologies group were $66,189,000 as of March 31, 2006 compared to $68,893,000 as of December 31, 2005. Cash and cash equivalents and short-term investments totaled $37,695,000 as of March 31, 2006 compared to $38,960,000 as of December 31, 2005. CombiMatrix Group Financial Results (A Division of Acacia Research Corporation) For the Three Months Ended March 31, 2006 and 2005 Revenues for the first quarter of 2006 were $1,245,000 versus $1,069,000 in the comparable 2005 period. First quarter 2006 revenues were comprised of $264,000 in government contact revenues and $981,000 in CustomArray(TM) product, equipment and service revenues. First quarter 2005 revenues were comprised of $731,000 of government contract revenues and $338,000 of CustomArray(TM) product and service revenues. The first quarter 2006 division net loss was $7,689,000 versus $3,076,000 in the comparable 2005 period. The first quarter 2006 results included non-cash stock compensation, patent amortization and depreciation charges totaling $1,213,000 versus $427,000 in the comparable 2005 period. The increase in non-cash charges primarily reflects the adoption of SFAS No. 123(R), effective January 1, 2006, which requires public companies to measure all employee stock-based compensation awards using a fair-value method and record such expense in their consolidated financial statements, as discussed earlier. First quarter non-cash stock compensation charges included in research and development expense and marketing, general and administrative expense totaled $293,000 and $402,000, respectively. The first quarter 2006 results also included a non-cash charge of $1,740,000 related to adjusting the CombiMatrix group's long-term warrant liability to fair value as of March 31, 2006. First quarter 2006 government contract costs totaled $250,000 versus $691,000 in the comparable 2005 period. The decrease was due to completion of the CombiMatrix group's commitments under its previous $5.9 million biological threat detection contract with the Department of Defense in December 2005. A new $2.1 million contract to further the development of its biological and chemical detector system was executed in February of 2006, resulting in lower contract costs in the first quarter of 2006 than in the comparable 2005 period. First quarter 2006 internal research and development expenses were $2,379,000 (including non-cash stock compensation charges of $293,000) versus $1,140,000 in the comparable 2005 period. During the first quarter of 2006 and 2005, the CombiMatrix group continued internal research and development efforts to improve and expand the CombiMatrix group's technology and product offerings. The increase in internal research and development expenses was due primarily to the impact of the CombiMatrix group's wholly owned subsidiary, CombiMatrix Molecular Diagnostics, which was formed and began research and development activities in the second quarter of 2005. First quarter 2006 marketing, general and administrative expenses increased to $3,962,000 (including non-cash stock compensation charges of $402,000) from $2,153,000 in the comparable 2005 period. Excluding the impact of the adoption of SFAS No. 123(R), the increase was due primarily to an increase in general and administrative expenses incurred by CombiMatrix Molecular Diagnostics and an increase in other general and administrative expenses related to ongoing operations. Financial Condition Total assets for the CombiMatrix group were $47,612,000 as of March 31, 2006 compared to $52,541,000 as of December 31, 2005. Cash and cash equivalents and short-term investments totaled $15,371,000 as of March 31, 2006 compared to $20,213,000 as of December 31, 2005. Business Highlights and Recent Developments Business highlights of the first quarter and recent developments include: Acacia Technologies group: --Software Collaboration Corporation, a wholly owned subsidiary that is part of the Acacia Technologies group, entered into separate license agreements with WiredRed Software, Inc. and Convoq, Inc., covering a patent that applies to web conferencing and collaboration software. The Web Conferencing and Collaboration Software technology generally relates to certain network and web conferencing and collaboration software systems. Specifically, two or more users at different computer terminals interact with the same display to simultaneously view, annotate annotate - annotation , and edit documents of any type, regardless of which user supplies the document or software application being utilized. --Financial Systems Innovation, LLC, a wholly owned subsidiary of the Acacia Technologies group, entered into separate non-exclusive licenses covering a patent that applies to Credit Card Fraud protection technology with Charlotte Russe charlotte russe n. A cold dessert of Bavarian cream set in a mold lined with ladyfingers. [French : charlotte, charlotte + russe, Russian.] Noun 1. Holding, Inc., which operates 408 retail stores, and American Eagle Outfitters, Inc. The patented technology generally relates to a computerized system for protecting retailers and consumers engaged in credit card, check card, and debit transactions. The system includes an electronic card reader, and the generation and use of a transaction number, which specifically identifies each transaction processed within the system. As a result, the retailer does not necessarily have to print detailed information concerning the cardholder's identity or account number on the customer's receipt. --InternetAd Systems, LLC, a wholly owned subsidiary that is part of the Acacia Technologies group, entered into separate license agreements with Ace Aviation Holdings ACE Aviation Holdings Inc. TSX: ACE.B is a Canadian holding company that provides commercial airline service and technical support and is the parent company of Air Canada. , Inc. (the parent corporation of Air Canada), JetBlue Airways For the Jet Blue database used in Exchange Server and Active Directory, see Extensible Storage Engine. JetBlue Airways is a major American low-cost airline owned by JetBlue Airways Corporation (NASDAQ: JBLU). Corporation and La Macchia Enterprises, Inc., covering a portfolio of patents that apply to Interstitial Internet Advertising. The Interstitial Internet Advertising technology generally relates to the display of certain advertising, informational, and branding messages that appear between or outside the web pages when the user is conducting a search. --Resource Scheduling Corporation, a wholly owned subsidiary that is part of the Acacia Technologies group, entered into separate license agreements with Surgical Information Systems, LLC, and Prophesy proph·e·sy v. proph·e·sied , proph·e·sy·ing , proph·e·sies v.tr. 1. To reveal by divine inspiration. 2. To predict with certainty as if by divine inspiration. See Synonyms at foretell. Transportation Solutions, Inc., covering a patent that applies to systems for scheduling and managing resources. The agreement with Surgical Information Systems, LLC resolved a patent infringement patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. lawsuit which was pending. The Resource Scheduling technology generally relates to methods and software application tools for scheduling and managing resources used in manufacturing facilities, hospital facilities, fleet delivery organizations, and other resource-dependent markets. These resource scheduling tools are often integrated as part of an Enterprise Resource Planning See ERP. (application, business) Enterprise Resource Planning - (ERP) Any software system designed to support and automate the business processes of medium and large businesses. ("ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. ") solution used to manage a company's complete operations. --Acacia Media Technologies Corporation, a wholly owned subsidiary that is part of the Acacia Technologies group, entered into a license agreement with Union Pacific Corporation for certain uses of its Digital Media Transmission ("DMT(R)") technology. Acacia Media Technologies Corporation has now entered into 316 license agreements for its DMT technology with companies that provide online entertainment, movies, music, news and sports, e-learning, cable television services, hotel on-demand television services, and corporate advertising and promotion. --VData, LLC, a wholly owned subsidiary that is part of the Acacia Technologies group, entered into separate license agreements with Automatic Data Processing, Inc., Hitachi Global Storage Technologies Hitachi Global Storage Technologies is a wholly owned subsidiary of Hitachi, Ltd. Summary Hitachi purchased IBM's hard disk drive division, integrated their own HDD operations, and launched the company in 2003. and Boston Scientific Corporation, covering a portfolio of patents that apply to certain multi-dimensional bar code systems. The license to Boston Scientific resolves a patent infringement lawsuit against Boston Scientific, which was pending in the District Court for the District of Minnesota. The Multi-Dimensional Bar Code technology generally relates to encoding See encode. and reading a data matrix consisting of an array of data cells with a border. The data matrix can contain a variety, amount, and depth of information that would not fit onto an ordinary bar code. This patented technology can have many applications in the manufacturing, distribution, accounting, and security industries such as tracking the movement of products, collection of data, improved production capabilities, and anti-counterfeiting. --IP Innovation, LLC, a wholly owned subsidiary that is part of the Acacia Technologies group, and Technology Licensing Corporation entered into a license agreement with Fujitsu General Limited covering patents that apply to Audio/Video Enhancement and Synchronization, and Image Resolution Enhancement technologies Resolution enhancement technologies are methods used to modify photomasks for integrated circuits (ICs) to compensate for limitations in the lithographic processes used to manufacture the chips. . The Audio/Video Enhancement and Synchronization technologies generally relate to the use of a noise reduction filtering system for digital video compression Encoding digital video to take up less storage space and transmission bandwidth. See video codec and data compression. video compression - Compression of sequences of images. , and for video and audio signals received by digital radios and video displays. Other aspects of the technologies apply to the synchronization of audio/video signals. The Image Resolution Enhancement Technology
Resolution enhancement technology (RET) is a form of image processing technology used to manipulate dot characteristics popular among laser printer and inkjet printer generally relates to the modification of a video or printed display to improve the perceived image quality beyond the basic pixel resolution pixel resolution Telemedicine The sharpness of a computerized image, based on pixel concentration, which determines display resolution of the display. --Computer Docking Station (1) A cradle for a portable device that serves to charge the unit and connect it to other sources or destinations. For example, an iPod docking station charges the iPod and connects it to a computer, speakers or TV set. Corporation, a wholly owned subsidiary that is part of the Acacia Technologies group, entered into separate license agreements with Sony Corporation and Fujitsu Computer Systems Corporation, covering patents that relate to Laptop Connectivity technology. The patented technology is used to connect a laptop or other portable computer to multiple external devices such as a keyboard, monitor, printer, or mouse, through a single connector from the portable computer to the docking station. The use of a single connector for multiple devices makes it easier to remove the portable computer from the devices when it is used remotely, and to reconnect the portable computer to the devices when it is returned to the docking station. --Acacia Patent Acquisition Corporation, a wholly owned subsidiary that is part of the Acacia Technologies group, continued its patent acquisition activities as follows:
-- In February 2006, acquired rights to a patent relating to
file locking in shared storage networks. The patent
relates to a file locking system for use in shared storage
networks such as iSCSI. The use of the patented technology
removes a single point of failure for companies migrating
existing Storage Area Network (SAN) implementations to
iSCSI or for those creating new shared storage networks.
-- In February 2006, acquired patents for remote video camera
technology from Simtrol, Inc. (OTCBB:SMRL). The patents
relate to remote control of video cameras and other
devices used in areas such as videoconferencing and
surveillance systems. The uses of the patented technology
include improved remote management of video camera
functions such as pan, tilt, and focus, and improved
device control in a networked videoconferencing system.
-- In March 2006, acquired the rights to a portfolio of
patents relating to the detection of fraud in connection
with paid communication services, such as audio
communications. The patented technology generally relates
to a process for detecting, reducing and preventing fraud
in connection with payments for certain communication
services, including audio sessions delivered via the
telephone, Internet, and other communication networks.
-- In March 2006, acquired a patent portfolio relating to the
use of micromirrors to create a digital image in
televisions, monitors, and projectors. The patented
technology generally relates to techniques for using
micromirrors to display a color image having gray scale
gradations and is utilized in large screen televisions and
projectors.
CombiMatrix group: --In January 2006, the CombiMatrix group launched a series of catalog catalog, descriptive list, on cards or in a book, of the contents of a library. Assurbanipal's library at Nineveh was cataloged on shelves of slate. The first known subject catalog was compiled by Callimachus at the Alexandrian Library in the 3d cent. B.C. microarrays specifically designed for microRNA analysis. MicroRNAs ("miRNAs") are small, RNA RNA: see nucleic acid. RNA in full ribonucleic acid One of the two main types of nucleic acid (the other being DNA), which functions in cellular protein synthesis in all living cells and replaces DNA as the carrier of genetic molecules encoded in the genomes of plants and animals Plants and Animals are a Canadian indie-rock band from Montreal, comprised of guitarist-vocalists Warren Spicer and Nic Basque, and drummer-vocalist Matthew Woodley.[1] They are signed to Secret City Records. . These highly conserved, approximately 21-mer RNAs regulate the expression of genes and are believed to be critical to controlling physiology physiology (fĭzēŏl`əjē), study of the normal functioning of animals and plants during life and of the activities by which life is maintained and transmitted. It is based fundamentally on the activities of protoplasm. in areas that include neural development The study of neural development draws on both neuroscience and developmental biology to describe the cellular and molecular mechanisms by which complex nervous systems emerge during embryonic development and throughout life. , viral disease, and cancer. Each miRNA is thought to regulate multiple genes, and since hundreds of miRNA genes are predicted to be present in higher eukaryotes the potential regulatory circuitry afforded by miRNAs is enormous. There is evidence that miRNAs may act as key regulators of processes as diverse as early development, cell proliferation proliferation /pro·lif·er·a·tion/ (pro-lif?er-a´shun) the reproduction or multiplication of similar forms, especially of cells.prolif´erativeprolif´erous pro·lif·er·a·tion n. and cell death, apoptosis apoptosis or programmed cell death Mechanism that allows cells to self-destruct when stimulated by the appropriate trigger. It may be initiated when a cell is no longer needed, when a cell becomes a threat to the organism's health, or for other reasons. and fat metabolism Noun 1. fat metabolism - a metabolic process that breaks down ingested fats into fatty acids and glycerol and then into simpler compounds that can be used by cells of the body , and cell differentiation Cell differentiation The mechanism by which cells in a multicellular organism become specialized to perform specific functions in a variety of tissues and organs. Specialized cells are the product of differentiation. . --In January 2006, the CombiMatrix group signed a non-exclusive agreement with The University of Colorado Health Sciences Center The University of Colorado Health Sciences Center (UCHSC) is part of the University of Colorado System. It has recently been merged with the University of Colorado at Denver (UCD) to form the University of Colorado at Denver and Health Sciences Center. under the Company's CombiCore(TM) access program. Under this agreement all University of Colorado University of Colorado may refer to:
microarray - A technique for performing many DNA experiments in parallel. Nothing to do with computers. core facility, CombiMatrix' CustomArrays(TM) and CatalogArrays(TM), including array processing Array processing is signal processing of the outputs of an array of sensors to:
--In January 2006, the CombiMatrix group entered into a non-exclusive distribution agreement with Cold Spring Biotech bi·o·tech n. Informal Biotechnology. biotech Noun short for biotechnology Noun 1. to distribute CombiMatrix products and services in mainland China, Taiwan, and Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. . Under the terms of the agreement, Cold Spring Biotech will market and sell CustomArrays(TM) and CatalogArrays(TM), including the recently introduced Influenza A influenza A n. Influenza caused by infection with a strain of influenza virus type A. influenza A Infectious disease An avian virus, especially of ducks–which in China live near the pig reservoir and 'vector'; Research Microarray. --In January 2006, the CombiMatrix group signed a non-exclusive agreement with The University of California The University of California has a combined student body of more than 191,000 students, over 1,340,000 living alumni, and a combined systemwide and campus endowment of just over $7.3 billion (8th largest in the United States). Davis under the Company's CombiCore(TM) access program. Under this agreement all University of California Davis researchers can purchase, through the UC Davis Genome genome: see genetics. genome all the genetic content contained within an organism. An organism's genome is made up of molecules of deoxyribonucleic acid (DNA) that form long strands that are tightly wound into chromosomes, which are found in the Center, CombiMatrix' CustomArrays(TM) and CatalogArrays(TM), including array processing services performed at the UC Davis Genome Center. --In January 2006, the CombiMatrix group expanded its relationship with its existing partner, INBIO, for the Asia Pacific region. Major components of the expanded relationship include the transfer of day-to-day operational responsibility and majority ownership of CombiMatrix Corporation's wholly owned subsidiary, CombiMatrix K.K. (the "KK") to INBIO along with an expanded distribution agreement that encompasses Japan. INBIO obtained 67% of the voting interests Voting interest in business and accounting is a percentage of voting stock owned. This notion is different from economic interest that refers to a percentage of all the equity issued, including preferred stock, warrants, and so on. in the KK and expanded its distribution agreements with the CombiMatrix group. INBIO assumed all operational and financial responsibilities of the KK including its liabilities. --In January 2006, the CombiMatrix group announced that the 2006 U.S. Defense Appropriations Bill signed by President Bush included an allocation of $2.4 million to fund efforts by the CombiMatrix group to further develop its microarray technologies for the detection of biological and chemical threat agents. --In February 2006, the CombiMatrix group began work on its one-year, $2.1 million contract with the US Department of Defense ("DoD"). Funding for this contract, which focuses on the use of CombiMatrix' array technology for military and antiterrorist an·ti·ter·ror·ist adj. Intended to prevent or counteract terrorism; counterterror: antiterrorist measures. an applications, was previously announced as part of the DoD budget. CombiMatrix's development program with the DoD is focused on the integration of CombiMatrix's biotechnology with microelectronics and microfluidics and the development of an automated system with maximum flexibility and sensitivity for biothreat agents with reduced size and cost. --In February 2006, the CombiMatrix group launched its Influenza A detection and genotyping Genotyping refers to the process of determining the genotype of an individual with a biological assay. Current methods of doing this include PCR, DNA sequencing, and hybridization to DNA microarrays or beads. technology on the CustomArray(TM) 4X2K platform. This was another step in CombiMatrix's expansion of its product line and another step in CombiMatrix's goal to make Influenza A technology more available and affordable. CombiMatrix's 4X2K Influenza A Research Microarray is a member of the CatalogArray(TM) product line and can detect and accurately type flu strains using a protocol that requires less than four hours start to finish, at a cost per test much lower than with the earlier CustomArray12K version. This microarray can identify H5N1 bird flu bird flu: see influenza. bird flu or avian influenza viral respiratory disease, mainly of birds including poultry and waterbirds but also transmissible to humans. . Unlike other products on the market, it can provide information on the subtype (programming) subtype - If S is a subtype of T then an expression of type S may be used anywhere that one of type T can and an implicit type conversion will be applied to convert it to type T. of H5 influenzas while simultaneously identifying all other strains of Influenza A and providing a rich amount of information on mutations and novel strains of flu not yet seen. --In February 2006, the CombiMatrix group established a Cooperative Research and Development Agreement “CRADA” redirects here. For other uses, see CRADA (disambiguation). A Cooperative Research and Development Agreement (CRADA) is an agreement between a government agency and a private company to work together. ("CRDA CRDA Christian Relief and Development Association (Ethiopia) CRDA Centre de Recherche et de Développement sur les Aliments (French: Food Research Centre, Canada) ") with the U.S. Air Force Research Laboratory, Human Effectiveness Directorate, Biosciences and Protection Division, Applied Biotechnology Branch (AFRL/HEPB). The CRDA will focus on "Development of a Biomonitor Device with Biomarker-based Microarrays." Under the CRDA, AFRL/HEPB and CombiMatrix will develop a personal health monitoring system utilizing CombiMatrix's CustomArray(TM) technology. The goal of the program is to develop a miniaturized device capable of analyzing multiple biomarkers (either DNA DNA: see nucleic acid. DNA or deoxyribonucleic acid One of two types of nucleic acid (the other is RNA); a complex organic compound found in all living cells and many viruses. It is the chemical substance of genes. or protein) that would aid the U.S. Department of Defense in its mission to effectively monitor the health status of military service personnel before, during, and after deployment where untoward exposures may impact on their performance or health. --In March 2006, the CombiMatrix group launched the ElectraSense(TM) Influenza influenza or flu, acute, highly contagious disease caused by a virus; formerly known as the grippe. There are three types of the virus, designated A, B, and C, but only types A and B cause more serious contagious infections. Typing System based on CombiMatrix's propriety pro·pri·e·ty n. pl. pro·pri·e·ties 1. The quality of being proper; appropriateness. 2. Conformity to prevailing customs and usages. 3. proprieties The usages and customs of polite society. electrochemical electrochemical /elec·tro·chem·i·cal/ (-kem´i-k'l) pertaining to interaction or interconversion of chemical and electrical energies. e·lec·tro·chem·i·cal adj. detection technology and its Influenza A Typing Microarray. CombiMatrix is prepared to make this system available to domestic and international government agencies that are engaged in monitoring influenza and planning for a potential pandemic pandemic /pan·dem·ic/ (pan-dem´ik) 1. a widespread epidemic of a disease. 2. widely epidemic. pan·dem·ic adj. Epidemic over a wide geographic area. n. . Using this system, government agencies can verify, before disseminating dis·sem·i·nate v. dis·sem·i·nat·ed, dis·sem·i·nat·ing, dis·sem·i·nates v.tr. 1. To scatter widely, as in sowing seed. 2. potentially alarming information to the public, whether samples contain a highly pathogenic path·o·gen·ic or path·o·ge·net·ic adj. 1. Having the capability to cause disease. 2. Producing disease. 3. Relating to pathogenesis. substrain of H5N1 or one of the several non-lethal substrains of H5N1. The system is designed for research use, surveillance and monitoring applications, use for animal studies, and other applications not requiring FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. registration. CombiMatrix will seek FDA approval for this product. --In March 2006, renowned microarray and genomics expert Mansoor Mohammed, Ph.D. joined CombiMatrix Molecular Diagnostics ("CMDX") as its Chief Scientific Officer and a member of its Board of Directors. Dr. Mohammed has been at the forefront of research and development in the fields of Comparative Genomic genomic pertaining to a genome. genomic clone see clone. genomic DNA the DNA sequences making up the genome of an individual. genomic library see gene bank. Hybridization hybridization /hy·brid·iza·tion/ (hi?brid-i-za´shun) 1. crossbreeding; the act or process of producing hybrids. 2. molecular hybridization 3. ("CGH CGH Comparative Genomic Hybridization CGH Changi General Hospital (Singapore) CGH Computer-Generated Hologram CGH Community General Hospital (Syracuse, NY) ") and microarray technologies for his entire professional career. Between 2001 and 2003, he produced the world's first commercially viable whole-genome Bacterial Artificial Chromosome A bacterial artificial chromosome (BAC) is a DNA construct, based on a fertility plasmid (or F-plasmid), used for transforming and cloning in bacteria, usually E. coli. ("BAC BAC abbr. blood alcohol concentration ") array and co-authored one of its seminal seminal /sem·i·nal/ (sem´i-n'l) pertaining to semen or to a seed. sem·i·nal adj. Of, relating to, containing, or conveying semen or seed. clinical applications. A BAC array is a highly efficient and accurate means of detecting genetic abnormalities responsible for a variety of human maladies, such as Down Syndrome Down syndrome, congenital disorder characterized by mild to severe mental retardation, slow physical development, and characteristic physical features. Down syndrome affects about 1 in every 730 live births and occurs in all populations equally. , autism autism (ô`tĭzəm), developmental disability resulting from a neurological disorder that affects the normal functioning of the brain. It is characterized by the abnormal development of communication skills, social skills, and reasoning. , and cancer. --In March 2006, CMDX and Array Genomics Inc. (AG), Nr. Paris, France, announced that they will co-develop, market, and sell a new series of CGH microarray products and services internationally, using expertise and technology from both companies. The initial products, which will be manufactured in the U.S. by CMDX and distributed in Europe by AG, are a series of arrays for the diagnosis of mental retardation mental retardation, below average level of intellectual functioning, usually defined by an IQ of below 70 to 75, combined with limitations in the skills necessary for daily living. anomalies. It is anticipated that the arrays will begin generating revenue for both companies within the next several weeks. --In March 2006, the CombiMatrix group was granted a key patent in Europe (EP1185363B1), titled "Self-Assembling Arrays" by the European Patent Office. This European Patent was registered throughout the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community in Germany, France, Spain, Great Britain Great Britain, officially United Kingdom of Great Britain and Northern Ireland, constitutional monarchy (2005 est. pop. 60,441,000), 94,226 sq mi (244,044 sq km), on the British Isles, off W Europe. The country is often referred to simply as Britain. , and Italy, and the opposition period has passed. A corresponding U.S. patent is pending in the U.S. Patent and Trademark Office and is moving through the process. The European patent claims both self-assembled arrays and a method for making self-assembled arrays on electrode arrays An electrode array is a configuration of electrodes used for measuring either an electric current or voltage. Some electrode arrays can operate in a bidirectional fashion, in that they can also be used to provide a stimulating pattern of electric current or voltage. with self-assembled antibodies. This microarray configuration is especially useful for arraying proteins specifically antibodies. The technology enables products such as multiplexed immunoassays, monitoring of biowarfare and terrorist agents, and general protein analysis tools. --In March 2006, CMDX received certification to operate as a clinical laboratory in accordance with the federal government's Clinical Laboratory Improvement Act ("CLIA CLIA Clinical Laboratory Improvement Amendments of 1988 Congressional legislation that promulgated quality assurance practices in clinical labs, and required them to measure performance at each step of the testing process from the beginning to the end-point of a "), a regulatory program that monitors the quality of laboratory testing. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. CLIA, any laboratory in the U.S. that conducts testing on human specimens for purposes other than research must be certified See certification. . A conference call is scheduled for today. The Acacia Technologies Group presentation and Q&A will start at 1:15 p.m. Pacific Time (4:15 p.m. Eastern). The CombiMatrix Group presentation and Q&A session will start at 2:00 p.m. Pacific Time (5:00 p.m. Eastern). To listen to the presentation by phone, dial 866-550-6338 for domestic callers and 347-284-6930 for international callers, both of whom will need to provide the operator with the confirmation code 3034242. A replay of the audio presentation will be available for 30 days at 888-203-1112 for domestic callers and 719-457-0820 for international callers, both of whom will need to enter the code 3034242 when prompted. The call is being webcast by CCBN CCBN Central Coast Bancorp CCBN Charles County Business Network and can be accessed at Acacia's website at www.acaciaresearch.com. ABOUT ACACIA RESEARCH CORPORATION Acacia Research Corporation comprises two operating groups, Acacia Technologies group and CombiMatrix group. The Acacia Technologies group develops, acquires, and licenses patented technologies. Acacia controls 42 patent portfolios, which include over 160 U.S. patents, and certain foreign counterparts, covering technologies used in a wide variety of industries including audio/video enhancement & synchronization, broadcast data retrieval, computer memory cache See cache. coherency co·her·en·cy n. pl. co·her·en·cies Coherence. Noun 1. coherency - the state of cohering or sticking together coherence, cohesion, cohesiveness , credit card fraud protection, database management, data encryption data encryption, the process of scrambling stored or transmitted information so that it is unintelligible until it is unscrambled by the intended recipient. Historically, data encryption has been used primarily to protect diplomatic and military secrets from foreign & product activation Product activation is a license validation procedure required by some proprietary computer software programs. Specifically, product activation refers to a method where a software application hashes hardware serial numbers and an ID number specific to the product's license (a , digital media transmission (DMT(R)), digital video production, dynamic manufacturing modeling, enhanced Internet navigation, hearing aid ECS See eComStation. , image resolution enhancement, interactive data sharing The ability to share the same data resource with multiple applications or users. It implies that the data are stored in one or more servers in the network and that there is some software locking mechanism that prevents the same set of data from being changed by two people at the same time. , interactive television, laptop docking station connectivity, microprocessor enhancement, multi-dimensional bar codes, network data storage, resource scheduling, rotational video imaging, spreadsheet automation, user activated Internet advertising and web conferencing & collaboration software. The CombiMatrix group is developing a platform technology to rapidly produce customizable arrays, which are semiconductor-based tools for use in identifying and determining the roles of genes, gene mutations Noun 1. gene mutation - (genetics) a mutation due to an intramolecular reorganization of a gene point mutation genetic science, genetics - the branch of biology that studies heredity and variation in organisms and proteins. The CombiMatrix's group's technology has a wide range of potential applications in the areas of genomics, proteomics, biosensors, drug discovery, drug development, diagnostics, combinatorial chemistry Combinatorial chemistry involves the rapid synthesis or the computer simulation of a large number of different but structurally related molecules. Introduction Synthesis of molecules in a combinatorial fashion can quickly lead to large numbers of molecules. , material sciences and nanotechnology. Acacia Research-Acacia Technologies (Nasdaq:ACTG) and Acacia Research-CombiMatrix (Nasdaq:CBMX) are both classes of common stock issued by Acacia Research Corporation and are intended to reflect the performance of the respective operating groups and are not issued by the operating groups. Information about the Acacia Technologies group and the CombiMatrix group is available at www.acaciaresearch.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the recent economic slowdown affecting technology companies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. Our Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , recent and forthcoming Quarterly Reports on Form 10-Q Form 10-Q See 10-Q. , recent Current Reports on Forms 8-K and 8-K/A, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
ACACIA RESEARCH CORPORATION
SUMMARY FINANCIAL INFORMATION
(In thousands, except share and per share information)
(Unaudited)
CONSOLIDATED BALANCE SHEET INFORMATION
March 31, December 31,
2006 2005
---- ----
Total Assets $113,801 $121,434
======== ========
Total Liabilities $ 14,871 $ 14,090
======== ========
Minority Interests $ 469 $ 447
======== ========
Total Stockholders' Equity $ 98,461 $106,897
======== ========
CONSOLIDATED STATEMENTS OF OPERATIONS
For the Three Months
Ended
-------------------------
March 31, March 31,
2006 2005
------------ ------------
Revenues:
License fees.............................. $ 4,717 $ 1,863
Government contract........................ 264 731
Products.................................. 924 278
Service contracts.......................... 57 60
----------- -----------
Total revenues........................... 5,962 2,932
----------- -----------
Operating expenses:
Cost of government contract revenues....... 250 691
Cost of product sales...................... 221 163
Research and development expenses
(including non-cash stock compensation
expense of $293 (2006))................... 2,379 1,140
Marketing, general and administrative
expenses (including non-cash stock
compensation expense of $1,450 (2006) and
($126)(2005))............................. 7,499 3,763
Legal expenses - patents................... 366 561
Inventor royalties and contingent legal
fees expense - patents.................... 2,271 647
Amortization of patents.................... 1,617 1,190
Legal settlement charges (credits)......... - (179)
Loss from equity investments............... 239 39
----------- -----------
Total operating expenses................. 14,842 8,015
----------- -----------
Operating loss........................... (8,880) (5,083)
----------- -----------
Total other income (loss)................ (1,284) 273
----------- -----------
Loss from continuing operations before
income taxes............................... (10,164) (4,810)
Benefit for income taxes.................... 66 70
----------- -----------
Loss from continuing operations............. (10,098) (4,740)
----------- -----------
Discontinued operations:
Estimated loss on disposal of discontinued
operations................................ - (210)
----------- -----------
Net loss.................................... $ (10,098) $ (4,950)
=========== ===========
Earnings (loss) per common share:
Attributable to the Acacia Technologies
group:
Net loss................................... $ (2,409) $ (1,874)
Basic and diluted loss per share.......... (0.09) (0.08)
Attributable to the CombiMatrix group:
Net loss................................... $ (7,689) $ (3,076)
Basic and diluted loss per share.......... (0.20) (0.10)
Weighted average shares:
Acacia Research - Acacia Technologies stock:
Basic and diluted......................... 27,400,857 24,558,419
=========== ===========
Acacia Research - CombiMatrix stock:
Basic and diluted......................... 38,992,402 31,200,496
=========== ===========
ACACIA TECHNOLOGIES GROUP
(A Division of Acacia Research Corporation)
SUMMARY FINANCIAL INFORMATION
(In thousands)
(Unaudited)
GROUP BALANCE SHEET INFORMATION
March 31, December 31,
2006 2005
---- ----
Total Assets $ 66,189 $ 68,893
========= =========
Total Liabilities $ 5,348 $ 6,647
========= =========
Minority Interests $ 443 $ 443
========= =========
Total Stockholders' Equity $ 60,398 $ 61,803
========= =========
GROUP STATEMENTS OF OPERATIONS
For the Three Months
Ended
---------------------
March 31, March 31,
2006 2005
----------- ---------
Revenues:
License fees................................... $ 4,717 $ 1,863
------- -------
Total revenues................................ 4,717 1,863
------- -------
Operating expenses:
Marketing, general and administrative expenses
(including non-cash stock compensation expense
of $1,048 (2006))............................. 3,537 1,610
Legal expenses - patents....................... 366 561
Contingent legal fees and royalties expenses -
patents....................................... 2,271 647
Amortization of patents........................ 1,343 916
------- -------
Total operating expenses...................... 7,517 3,734
------- -------
Operating loss................................ (2,800) (1,871)
------- -------
Total other income............................ 359 171
------- -------
Loss from continuing operations before income
taxes.......................................... (2,441) (1,700)
Benefit for income taxes........................ 32 36
------- -------
Loss from continuing operations................. (2,409) (1,664)
Discontinued operations:
Estimated loss on disposal of discontinued
operations.................................... - (210)
------- -------
Division net loss............................... $(2,409) $(1,874)
======= =======
COMBIMATRIX GROUP
(A Division of Acacia Research Corporation)
SUMMARY FINANCIAL INFORMATION
(In thousands)
(Unaudited)
GROUP BALANCE SHEET INFORMATION
March 31, December 31,
2006 2005
---- ----
Total Assets $ 47,612 $ 52,541
========= =========
Total Liabilities $ 9,523 $ 7,443
========= =========
Minority Interests $ 26 $ 4
========= =========
Total Stockholders' Equity $ 38,063 $ 45,094
========= =========
GROUP STATEMENTS OF OPERATIONS
For the Three Months
Ended
---------------------
March 31, March 31,
2006 2005
---------- ----------
Revenues:
Government contract............................ $ 264 $ 731
Products....................................... 924 278
Service contracts.............................. 57 60
-------- -------
Total revenues................................ 1,245 1,069
-------- -------
Operating expenses:
Cost of government contract revenues........... 250 691
Cost of product sales.......................... 221 163
Research and development expenses (including
non-cash stock compensation expense of $293
(2006))....................................... 2,379 1,140
Marketing, general and administrative expenses
(including non-cash stock compensation expense
of $402 (2006) and ($126)(2005)).............. 3,962 2,153
Amortization of patents........................ 274 274
Legal settlement charges (credits)............. - (179)
Loss from equity investments................... 239 39
-------- -------
Total operating expenses...................... 7,325 4,281
-------- -------
Operating loss................................ (6,080) (3,212)
-------- -------
Total other income (loss)..................... (1,643) 102
-------- -------
Loss from operations before income taxes........ (7,723) (3,110)
Benefit for income taxes........................ 34 34
-------- -------
Division net loss............................... $ (7,689) $(3,076)
======== =======
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