TSRA » Topics » NOTE 8 - SUBSEQUENT EVENT

This excerpt taken from the TSRA 10-K filed Feb 27, 2009.

NOTE 17 – SUBSEQUENT EVENT

In February 2009, Amkor Technologies paid the Company $64.1 million in accordance with the terms of the International Chamber of Commerce’s International Court of Arbitration award to the Company for Amkor’s material breach of its license agreement. See Note 14— “Commitments and Contingencies” for the current status of the Company’s legal proceedings.

In February 2009, the Company invested an additional $1.4 million in NemoTek. The total investment in NemoTek represents less than a 10 percent holding. See Note 16— “Related Party Transactions” for details regarding the NemoTek investment.

 

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(2)    Financial Statement Schedules

This excerpt taken from the TSRA 10-Q filed May 8, 2008.

NOTE 15 – SUBSEQUENT EVENT

In April 2008, Tessera entered into an agreement with Kronos Advanced Technologies, Inc. (“Kronos”), which included the acquisition of ownership of certain patents related to micro-cooling applications for $3.5 million. Tessera will record these patents as identified intangible assets and will amortize them over the estimated useful life of nine years.

 

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion should be read in conjunction with the attached condensed unaudited consolidated financial statements and notes thereto, and with our audited financial statements and notes thereto for the fiscal year ended December 31, 2007 found in our Annual Report on Form 10-K filed on February 29, 2008.

This Quarterly Report (including the following section regarding Management’s Discussion and Analysis of Financial Condition and Results of Operations) contains forward-looking statements, which are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Certain, but not all, of the forward-looking statements in this report are specifically identified. The identification of certain statements as “forward-looking” is not intended to mean that other statements not specifically identified are not forward-looking. Forward-looking statements include, but are not limited to, statements that relate to our future revenue, product development, demand, acceptance and market share, competitiveness, gross margins, levels of research and development (R&D), operating expenses, tax expenses, our management’s plans and objectives for our current and future operations, management’s plans for repurchasing Company stock pursuant to the authorization of our Board, the levels of customer spending or R&D activities, general economic conditions and the sufficiency of financial resources to support future operations, the outcome or effects of and expenses related to litigation and capital expenditures. Words such as “expects,” “anticipates,” “plans,” “believes,” “seeks,” “estimates,” “could,” “would,” “may,” “intends,” “targets” and similar expressions or variations of such words are intended to identify forward-looking statements, but are not the exclusive means of identifying forward-looking statements in this Quarterly Report.

Although forward-looking statements in this Quarterly Report reflect the good faith judgment of our management, such statements can only be based on facts and factors currently known by us. Consequently, forward-looking statements are inherently subject to risks, uncertainties, and changes in condition, significance, value and effect, including those discussed below under the heading “Risk Factors” within Item 1A of this report and other documents we file from time to time with the Securities and Exchange Commission (SEC), such as our quarterly reports on Form 10-Q and our current reports on Form 8-K. Such risks, uncertainties and changes in condition, significance, value and effect could cause our actual results to differ materially from those expressed herein and in ways not readily foreseeable. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this Quarterly Report and are based on information currently and reasonably known to us. We undertake no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this Quarterly Report. Readers are urged to carefully review and consider the various disclosures made in this Quarterly Report, which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operations and prospects.

This excerpt taken from the TSRA 8-K filed Oct 2, 2006.

(13) Subsequent Event

 

On July 7, 2006, Digital Optics entered into a definitive agreement to sell the Company to Tessera Technologies for approximately $59.5 million. The agreement provides for approximately $8 million of the consideration to be placed into escrow to secure certain obligations of Digital Optics. Prior to the completion of the transaction the outstanding balances of the term loan and revolving credit facility were extinguished. The transactions was completed on July 18, 2006.

This excerpt taken from the TSRA 10-Q filed Nov 14, 2005.

NOTE 8 – SUBSEQUENT EVENT

 

On October 31, 2005, the Company entered into an Asset Purchase Agreement with Shellcase, Ltd., an Israeli company, for approximately $33 million in cash. Completion of this transaction is subject to the satisfaction or waiver of numerous conditions. The Company is in the process of closing the transaction.

 

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This excerpt taken from the TSRA 10-K filed Mar 16, 2005.

NOTE 11 – SUBSEQUENT EVENT

 

On March 1, 2005, the Company filed a lawsuit against Micron Technology, Inc. and its subsidiary Micron Semiconductor Products, Inc. (collectively “Micron”) and against Infineon Technologies AG, Infineon Technologies Richmond LP and Infineon Technologies North America Corp. (collectively “Infineon”) in the U.S. District Court for the Eastern District of Texas, alleging infringement of the Company’s U.S. Patents 5,852,326, 5,679,977, 6,433,419, 6,465,893, and 6,133,627 arising from Micron’s and Infineon’s respective manufacture, use, sale, offer to sell and/or importation of certain packaged semiconductor components and assemblies thereof. We seek to recover damages, up to treble the amount of actual damages, together with attorney’s fees and costs. We also seek to enjoin Micron and Infineon from continuing to infringe these patents in the future.

 

This proceeding has just begun, and the Company cannot predict its outcome. Discovery has not begun, and no trial date has yet been set. An adverse decision in this proceeding could significantly harm our business.

 

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