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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

1 Apr 21
13 Apr 21
31 Dec 21
Quarter (USD)
Sep 20 Jun 20 Mar 20 Sep 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 19 Dec 18 Dec 17 Dec 16
Revenue
Cost of revenue
Operating income
Operating margin
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Diluted EPS

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) 91.88K 91.88K 91.88K 91.88K 91.88K 91.88K
Cash burn (monthly) 256.83K 27.05K (positive/no burn) 91.73K 256.83K 34.51K
Cash used (since last report) 1.66M 175.12K n/a 593.83K 1.66M 223.43K
Cash remaining -1.57M -83.24K n/a -501.95K -1.57M -131.55K
Runway (months of cash) -6.1 -3.1 n/a -5.5 -6.1 -3.8

Beta Read what these cash burn values mean

Financial report summary

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Management Discussion
  • Revenues for the three months ended September 30, 2020 were approximately $3,405,000, an increase of approximately $2,765,000, or 432%, from the comparable period of 2019, which were approximately $640,000. Revenues for the nine months ended September 30, 2020 were approximately $5,488,000, an increase of approximately $3,486,000, or 174%, from the comparable period of 2019, which was approximately $2,002,000. We generated revenue from patent fees of approximately $3,405,000 and $5,488,000 for the three and nine months ended September 30, 2020, respectively, from licenses to the CXT, M-RED and power management portfolios. 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 from patent fees of approximately $640,000 and approximately $2,002,000 for the three and nine months ended September 30, 2019, respectively, from settlements in the CXT portfolio actions, anchor structure portfolio actions, power management/bus controller portfolio actions and CMOS portfolio actions. 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, or to inventors/former patent owners 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. Since our revenue is dependent upon our success in litigation, the timing of revenue is dependent upon the timing of litigation and our success in the litigation as well as the ability of defendants to make any agreed-upon payments. As a result, we expect that our revenue will continue to be subject to significant changes from quarter to quarter.
Content analysis
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Positive
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Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
New words: agent, agreeable, alleged, assertion, back, behalf, earlier, escrow, extended, forebear, modification, mutually, noteholder, partner, percent, restructure, restructuring, satisfaction, standstill, successor, thereof, unexercised
Removed: Academy, Apple, Fossil, Madden, Neiman, suit, Tailored

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