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QPRC Quest Patent Research

We are an intellectual property asset management company. Our principal operations include the development, acquisition, licensing and enforcement of intellectual property rights that are either owned or controlled by us or one of our wholly-owned subsidiaries. We currently own, control or manage eleven intellectual property portfolios, which principally consist of patent rights. Our eleven intellectual property portfolios include the portfolios which we acquired from Intellectual Ventures Assets 16, LLC (“Intellectual Ventures”) and seven of its affiliates. As part of our intellectual property asset management activities and in the ordinary course of our business, it has been necessary for us or the intellectual property owner who we represent to initiate, and it is likely to continue to be necessary to initiate, patent infringement lawsuits and engage in patent infringement litigation. We anticipate that our primary source of revenue will come from the grant of licenses to use our intellectual property including licenses granted as part of the settlement of patent infringement lawsuits.

Company profile

Ticker
QPRC
Exchange
Website
CEO
Jon Charles Scahill
Employees
Location
Fiscal year end
Former names
PHASE OUT OF AMERICA INC, QUEST PRODUCTS CORP
SEC CIK

QPRC stock data

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Calendar

24 May 21
2 Aug 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
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Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
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Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 227.02K 227.02K 227.02K 227.02K 227.02K 227.02K
Cash burn (monthly) 6.95K 27.05K 1.72M 472K 101.97K 63.42K
Cash used (since last report) 28.48K 110.86K 7.04M 1.93M 417.88K 259.91K
Cash remaining 198.54K 116.15K -6.82M -1.71M -190.86K -32.89K
Runway (months of cash) 28.6 4.3 -4.0 -3.6 -1.9 -0.5

Beta Read what these cash burn values mean

Financial report summary

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Management Discussion
  • We generated no revenues for the three months ended March 31, 2021, as compared with revenues of approximately $870,000 for the three months ended March 31, 2020. The failure to generate revenue resulted from our inability to engage counsel or secure financing for licensing programs on our intellectual property as a result of our default under the notes to Intelligent Partners. Our revenue, in the near future if not longer, is likely to be affected by factors relating to the COVID-19 pandemic as described under “Overview”. We generated revenue of approximately $870,000 for the three months ended March 31, 2020, from settlements of actions commenced in May 2018 on the Power Management/Bus Control Portfolio and May 2018, May 2019 and August 2019 on the CXT Portfolio. The total settlement recovery is included in revenue and the associated costs are deducted as cost of revenue. As discussed above, the timing and amount of our revenue is dependent upon the results of litigation seeking to enforce our intellectual property rights, and we cannot predict when or whether we will have a recovery and how much of the recovery will be received by us after payments to legal counsel, to our funding sources, to inventors/former patent owners and to Intelligent Partners who have an interest in our share of the recovery from certain patent portfolios after deducting payments due to counsel and the litigation funding source. 
Content analysis
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Positive
Negative
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Constraining
Legalese
Litigous
Readability
H.S. junior Avg
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