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e-Future Information Technology Inc. Message Board

  • iamgettingit iamgettingit Apr 9, 2013 4:14 PM Flag

    News That Yahoo didn't Announce

    I guess news from our chinese investment isn't important enough for yahoo ? Here is what we or, at least I,myself, missed.:
    efuture Unit in Confidential Settlement Pact with Microsoft, efuture Says Settlement Amount Lower Than Judgement Awarded to Microsoft Benzinga....that is all I could find..anyone else?

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    • Thanks for the heads up. I just read it now. To say the information is limited is an understatement. I couldn't imagine a Chinese company taking microsoft software and selling it as their own, that would never happen. Too bad they can't become a little pain in the #$%$ for microsoft so they could go to petty cash and just hand over a hundred mil to buy them just to get rid of them.

    • It's good news but in reality as efut said in the filing that deal was confidential but it was immaterial to its business and financial - so efut and msft probably settled for like 50k or nothing with efut agreeing to license its software for say 20k a year

    • I checked both Corporate websites for press releases and there were none regarding this news. It must have been real confidential since no one seems to have released it.

    • That info I got from TD Ameritrade...Came out at 11am yesterday

      • 1 Reply to iamgettingit
      • Jtech,thanks,I just found it in totality.Here it is,' On March 28, 2013, eFuture (Beijing) Royalstone Information Technology Inc. (“eFuture Beijing”),a wholly-owned subsidiary of eFuture Information Technology Inc.(the “Company”) entered into a confidential settlement agreement (the “Settlement Agreement”) with Microsoft Corporation (“Microsoft”) in respect to Microsoft’s claims of product infringement against the Company. The settlement resolved all claims between the parties and the amount of the settlement was lower than the judgment previously awarded to Microsoft. The Company does not believe its obligations under the Settlement Agreement will have a material adverse effect on the Company’s business, operations or financial results. For more information about the claims, please refer to the Form 6-K filed on December 20, 2012.'

 
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