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Note 11 - Subsequent Events
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3 Months Ended | ||
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Apr. 30, 2014
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| Subsequent Events [Abstract] | |||
| Subsequent Events [Text Block] |
Effective as of May 15, 2014, Chicony entered into a settlement agreement with us that dismisses all claims between the parties arising from the litigation referenced above. Pursuant to the terms of the settlement agreement, Chicony agreed to pay us $7.6 million in lieu of the jury’s net award of $9.7 million or any other related costs or fees. $4.0 million of the settlement amount was paid to us on May 16, 2014, with the balance of $3.6 million paid to us on June 2, 2014. Further pursuant to the settlement agreement, each party released the other and its affiliates from any and all claims related to the subject matter of the litigation and we covenanted not to sue Chicony on the next 500,000 power adapters sold by Chicony after May 15, 2014 that we allege infringe on our intellectual property rights. The settlement agreement also contains other representations, warranties and covenants of both parties that are customary for an agreement of this type. On May 28, 2014, we entered into an agreement with Pillsbury that settled the liabilities referenced in Note 6. On June 3, 2014, the Company repaid the amounts outstanding under the Elkhorn Loan Agreement in full. |