Breaking News

ADP Research Institute Says U.S. Added 213,000 Jobs in September
Tweet TWEET

e.Digital Announces First Quarter Results

e.Digital Announces First Quarter Results 
Receives Notice of Allowance for New Patent 
SAN DIEGO, CA -- (Marketwired) -- 08/14/13 --  e.Digital Corporation
(OTCQB: EDIG), a long standing source of innovation and
future-defining patented technologies, today reported financial
results for its first quarter of fiscal 2014, ended June 30, 2013. 
The Company reported a net loss of $71,437 or $(0.00) per share for
the first quarter of fiscal 2014, compared to a net loss of $332,983
or $(0.00) per share for the prior year's first quarter. For the
first quarter of fiscal 2014 revenues totaled $449,458 compared to
$132,546 for the first quarter of the prior year. The most recent
quarter included $392,000 of patent license revenues compared to no
comparable patent license revenues for the first quarter of the prior
year. Operating expenses increased to $520,895 from $465,529 for the
prior year's comparable quarter primarily due to patent licensing and
litigation costs associated with patent license revenues. 
"Positive results from our Flash-R(TM) patent monetization efforts
allowed us to significantly reduce losses for the quarter compared to
the prior year's first quarter," commented Fred Falk, President and
CEO of e.Digital. "With the assistance of our patent licensing law
firm, Handal & Associates, we have been aggressively pursuing parties
believed to infringe the Company's Flash-R patents covering the use
of flash memory technologies. We entered into licensing and
settlement agreements with multiple defendants and we expect more
significant licensing revenues as we progress through the litigation
and licensing process.  
"Our intellectual property continues to expand as we recently
received a notice of allowance from the United States Patent and
Trademark Office for our patent application titled System and Method
for Managing Information Stored in Semiconductors. The allowance of
this patent along with a recently filed continuation, serves as the
foundation of our new MicroSignet(TM) patent portfolio. The
technology allows naturally occurring defects introduced in the
semiconductor fabrication process to be used as a 'fingerprint'
unique to each integrated circuit. As some of these faults are
transient, these 'fingerprints' cannot be copied. So, every device in
a system becomes
 part of rights management and data security. We
believe this portfolio will be attractive to manufacturers of
semiconductors. This is the third significant technology portfolio
now including Flash-R, Nunchi(R) and MicroSignet IP and related
patents. 
"The marketing of our Nunchi patent portfolio continues through
IPmetrics Intellectual Property Consulting, which is managing the
valuation and monetization of this portfolio. We believe they are
making good progress in getting the portfolio into the hands of the
prospective licensees, many of whom are currently conducting due
diligence," concluded Falk. 
About e.Digital Corporation: For more than 20 years, e.Digital's
ideas and inventions have impacted the evolution of consumer
products. Today, e.Digital innovations, including its Flash-R(TM)
portfolio of flash memory-related patents, are essential to many
portable consumer electronic products. The Company pioneered
dedicated portable in-flight entertainment systems and more than 30
airlines have made e.Digital powered products their in-flight
entertainment choice. For more information about e.Digital, please
visit: www.edigital.com. 
Safe Harbor statement under the Private Securities Litigation Reform
of 1995: All statements made in this document, other than statements
of historical fact, are forward-looking statements within the meaning
of Section 21E of the Securities Exchange Act. You should not place
undue reliance on these statements. We base these statements on
particular assumptions that we have made in light of our industry
experience, our ability to protect and monetize our IP portfolio,
expected future developments and other factors that we believe are
appropriate under the circumstances. These forward-looking statements
are based on the then-current expectations, beliefs, assumptions,
estimates and forecasts about the businesses of the Company and the
industries and markets in which the Company operates. Actual outcomes
and results may differ materially from what is expressed or implied
by the forward-looking statements. More information about potential
factors that could affect the Company can be found in its most recent
Form 10-K, Form 10-Q and other reports and statements filed with the
Securities and Exchange Commission ("SEC"). e.Digital Corporation
disclaims any intent or obligation to update these or any
forward-looking statements, except as otherwise specifically stated
by it.  


 
                                                                            
                                                                            
                    e.Digital Corporation and subsidiary                    
                    Condensed Consolidated Balance Sheet                    
                   (000's omitted except per share amount)                  
                                 (unaudited)                                
                                                                            
                                                        June 30,   March 31,
                                                          2013       2013   
                                                            $          $    
ASSETS                                                                      
  Current                                                                   
    Cash                                                    1,803      1,741
    Accounts receivable                                        54        176
    Inventory                                                  14         21
    Deposits and prepaid expenses                              59         60
                                                       ---------- ----------
  Total current assets                                      1,930      1,998
    Inventory, long term                                       63        104
    Property and equipment, net                                12         13
                                                       ---------- ----------
  Total assets                                              2,005      2,115
                                                       ========== ==========
                                                                            
LIABILITIES AND STOCKHOLDERS' EQUITY                                        
  Current                                                                   
    Accounts payable                                          130         67
    Accrued and other                                         168        273
                                                       ---------- ----------
  Total current liabilities                                   298        340
  Stockholders' equity                                      1,707      1,775
                                                       ---------- ----------
  Total liabilities and stockholders' equity                2,005      2,115
                                                       ========== ==========
                                                                            
                                                                            
                                                                            
                    e.Digital Corporation and subsidiary                    
               Condensed Consolidated Statement of Operations               
                  (000's omitted except per share amount)                   
                                (unaudited)                                 
                                                                            
                                                      For the three months  
                                                         ended June 30,     
                                                        2013        2012    
                                                          $           $     
Revenues                                                    449         133 
Cost of revenues                                                            
  Products and services                                     108          94 
  Patent licensing and litigation costs                     113          23 
  Contingent legal fees and expenses                         15           3 
Selling and administrative                                  202         200 
Research and related expenditures                            83         146 
                                                     ----------  ---------- 
Total operating expenses                                    521         466 
                                                     ----------  ---------- 
Income (loss)                                               (72)       (333)
(Provision for) benefit from income taxes                     -           - 
                                                     ----------  ---------- 
Income (loss) attributed to common stockholders             (72)       (333)
                                                     ==========  ========== 
Income (loss) per common share - basic and diluted        (0.00)      (0.00)
                                                     ==========  ========== 
                                                                            
Weighted average common shares outstanding                                  
  Basic and diluted                                     293,187     293,003 
                                                     ==========  ========== 

  
CONTACT: 
e.Digital Corporation: 
Investor Relations
(858) 304-3016 ext. 205
ir@edigital.com 
 
 
Press spacebar to pause and continue. Press esc to stop.