0001213900-20-037387.txt : 20201116 0001213900-20-037387.hdr.sgml : 20201116 20201116162545 ACCESSION NUMBER: 0001213900-20-037387 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 55 CONFORMED PERIOD OF REPORT: 20200930 FILED AS OF DATE: 20201116 DATE AS OF CHANGE: 20201116 FILER: COMPANY DATA: COMPANY CONFORMED NAME: QUEST PATENT RESEARCH CORP CENTRAL INDEX KEY: 0000824416 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-MISCELLANEOUS NONDURABLE GOODS [5190] IRS NUMBER: 112873662 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 033-18099-NY FILM NUMBER: 201317401 BUSINESS ADDRESS: STREET 1: 411 THEODORE FREMD AVE. STREET 2: SUITE 206S CITY: RYE STATE: NY ZIP: 10580 BUSINESS PHONE: 8887437577 MAIL ADDRESS: STREET 1: 411 THEODORE FREMD AVE. STREET 2: SUITE 206S CITY: RYE STATE: NY ZIP: 10580 FORMER COMPANY: FORMER CONFORMED NAME: QUEST PRODUCTS CORP DATE OF NAME CHANGE: 19971120 FORMER COMPANY: FORMER CONFORMED NAME: PHASE OUT OF AMERICA INC DATE OF NAME CHANGE: 19920703 10-Q 1 f10q0920_questpatentresearch.htm QUARTERLY REPORT

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (D) OF THE SECURITIES AND EXCHANGE ACT OF 1934

 

For the quarterly period ended September 30, 2020

 

or

 

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (D) OF THE SECURITIES AND EXCHANGE ACT OF 1934

 

For the transition period from __________ to __________

 

QUEST PATENT RESEARCH CORPORATION

(Exact Name of Registrant as Specified in Charter)

 

Delaware   33-18099-NY   11-2873662
(State or other jurisdiction
of incorporation)
  (Commission File Number)   (IRS Employer
Identification No.)

 

 

411 Theodore Fremd Ave., Suite 206S, Rye, NY   10580-1411
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (888) 743-7577

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒     No ☐

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒     No ☐

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer Accelerated filer
Non-accelerated filer Smaller reporting company
  Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act) Yes ☐     No ☒

 

Securities registered pursuant to Section 12(b) of the Act: None

 

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. 383,038,334 shares of common stock are issued and outstanding as of November 16, 2020.

 

 

 

 

 

 

TABLE OF CONTENTS

 

    Page No.
PART I - FINANCIAL INFORMATION
 
Item 1. Financial Statements 1
  Unaudited Consolidated Balance Sheets as of September 30, 2020 and December 31, 2019 1
  Unaudited Consolidated Statements of Operations for the three and nine months ended September 30, 2020 and 2019 2
  Unaudited Consolidated Statements of Changes in Stockholders’ Deficit for the three and nine months ended September 30, 2020 and 2019 3
  Unaudited Consolidated Statements of Cash Flows for the nine months ended September 30, 2020 and 2019 4
  Notes to Unaudited Consolidated Financial Statements 5
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 18
Item 3. Quantitative and Qualitative Disclosures About Market Risk 23
Item 4. Controls and Procedures 24
     
PART II – OTHER INFORMATION
 
Item 6. Exhibits 25

 

 i

 

 

FORWARD LOOKING STATEMENTS

 

This report contains forward-looking statements regarding our business, financial condition, results of operations and prospects. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements, but are not deemed to represent an all-inclusive means of identifying forward-looking statements as denoted in this report. Additionally, statements concerning future matters are forward-looking statements.

 

Although forward-looking statements in this 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 and uncertainties and actual results and outcomes may differ materially from the results and outcomes discussed in or anticipated by the forward-looking statements. Factors that could cause or contribute to such differences in results and outcomes include, without limitation, those specifically addressed under the headings “Risks Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our report on Form 10-K for the year ended December 31, 2019, in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this Form 10-Q and in other reports that we file with the SEC. You are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this report.

 

We file reports with the SEC. The SEC maintains a website (www.sec.gov) that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC, including us. You can also read and copy any materials we file with the SEC at the SEC’s Public Reference Room at 100 F Street, NE, Washington, DC 20549. You can obtain additional information about the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330.

 

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 report, except as required by law. Readers are urged to carefully review and consider the various disclosures made throughout the entirety of this quarterly report, which are designed to advise interested parties of the risks and factors that may affect our business, financial condition, results of operations and prospects.

 

OTHER PERTINENT INFORMATION

 

Unless specifically set forth to the contrary, “Quest”, “Company”, “we,” “us,” “our” and similar terms refer to Quest Patent Research Corporation, and its subsidiaries, unless the context indicates otherwise.

  

 ii

 

 

PART I - FINANCIAL INFORMATION

 

Item 1. Financial Statements

 

QUEST PATENT RESEARCH CORPORATION AND SUBSIDIARIES 

UNAUDITED CONSOLIDATED BALANCE SHEETS

 

   September 30,
2020
   December 31,
2019
 
ASSETS          
Current assets          
Cash and cash equivalents  $91,879   $537,198 
Accounts receivable   1,850,667    1,850,375 
Other current assets   9,647    17,180 
Total current assets   1,952,193    2,404,753 
           
Patents, net of accumulated amortization of $2,127,530 and $1,617,762 respectively   2,339,586    2,754,354 
           
Total assets  $4,291,779   $5,159,107 
           
LIABILITIES AND STOCKHOLDERS’ DEFICIT          
Liabilities          
Current liabilities:          
Accounts payable and accrued liabilities  $2,714,721   $3,362,932 
Accrued liabilities – related party   564,050    - 
Loans payable – third party   147,000    147,000 
Purchase price of patents, current portion, net of unamortized discount of $0   975,000    569,386 
Loan payable – related party, net of unamortized discount and debt issuance costs of $0 and $189,705, respectively   4,672,810    4,483,105 
Accrued interest – loan payable related party   117,780    117,780 
Accrued interest - loans payable third party   281,210    270,185 
Derivative liability   -    595,000 
Total current liabilities   9,472,571    9,545,388 
           
Non-current liabilities          
Contingent funding liabilities   20,378    20,378 
Loans payable – SBA   172,974    - 
Purchase price of patents, net of unamortized discount of $155,019 and $282,503, respectively   1,159,981    1,442,497 
Total liabilities   10,825,904    11,008,263 
           
Stockholders’ deficit:          
Preferred stock – par value $.00003 per share – authorized 10,000,000 Shares – no shares issued and outstanding   -    - 
Common stock, par value $0.00003 per share; authorized 10,000,000,000 shares and 10,000,000,000 at September 30, 2020 and December 31, 2019; shares issued and outstanding 383,038,334 at September 30, 2020 and December 31, 2019   11,491    11,491 
Additional paid-in capital   14,427,782    14,107,782 
Accumulated deficit   (20,973,631)   (19,968,668)
Total Quest Patent Research Corporation deficit   (6,534,358)   (5,849,395)
           
Non-controlling interest in subsidiary   233    239 
           
Total stockholders’ deficit   (6,534,125)   (5,849,156)
           
Total liabilities and stockholders’ deficit  $4,291,779   $5,159,107 

 

See accompanying notes to unaudited consolidated financial statements.

 

 1

 

 

QUEST PATENT RESEARCH CORPORATION AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

  

   FOR THE
THREE MONTHS ENDED
   FOR THE
NINE MONTHS ENDED
 
   SEPTEMBER 30,   SEPTEMBER 30, 
   2020   2019   2020   2019 
Revenues                    
Patent licensing fees  $3,404,985   $640,000   $5,488,088   $2,002,418 
Licensed packaging sales   -    -    -    25,274 
    3,404,985    640,000    5,488,088    2,027,692 
Operating expenses                    
Cost of revenue:                    
Cost of sales   -    -    -    4,520 
Litigation and licensing expenses   2,996,416    555,474    4,714,406    1,400,003 
Management support services   -    150    -    1,793 
Selling, general and administrative expenses   301,853    302,574    1,213,151    945,601 
Total operating expenses   3,298,269    858,198    5,927,557    2,351,917 
                     
Income /(loss) from operations   106,716    (218,198)   (439,469)   (324,225)
                     
Other Income and (expenses)                    
Gain/(loss) on derivative liability   175,000    290,000    275,000    (270,000)
Other income   1,000    -    1,000    - 
Interest expense   (233,101)   (216,336)   (776,137)   (590,828)
Total other income (expenses)   (57,101)   73,664    (500,137)   (860,828)
                     
Net income (loss) before income tax   49,615    (144,534)   (939,606)   (1,185,053)
                     
Income tax   -    -    (65,363)   (225)
                     
Net income/(loss)   49,615    (144,534)   (1,004,969)   (1,185,278)
Net (income)/loss attributable to non-controlling interest in subsidiaries   6    (347)   6    1,558 
Net income/(loss) attributable to Quest Patent Research Corporation  $49,621   $(144,881)  $(1,004,963)  $(1,183,720)
                     
Income (loss) per share basic and diluted  $0.00   $(0.00)  $(0.00)  $(0.00)
                     
Weighted average shares outstanding – basic and diluted   383,038,334    383,038,334    383,038,334    383,038,334 

 

See accompanying notes to unaudited consolidated financial statements.

 

 2

 

 

QUEST PATENT RESEARCH CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ DEFICIT

 

    Common Stock    Additional
Paid-in
         Non-
controlling
Interest in
    Total
Stockholders’
 
    Shares    Amount    Capital    Deficit    Subsidiaries    Deficit 
Balances as of December 31, 2018   383,038,334    11,491    14,107,782    (18,659,892)   1,758    (4,538,861)
Net loss   -    -    -    (539,809)   (259)   (540,068)
Balance as of March 31, 2019   383,038,334    11,491    14,107,782    (19,199,701)   1,499    (5,078,929)
Net loss                  (499,030)   (1,646)   (500,676)
Balance as of June 30, 2019   383,038,334    11,491    14,107,782    (19,698,731)   (147)   (5,579,605)
Net income (loss)                  (144,881)   347    (144,534)
Balances as of September 30, 2019   383,038,334   $11,491   $14,107,782   $(19,843,612)  $200   $(5,724,139)

 

 

    Common Stock    Additional
Paid-in
         Non-
controlling
Interest in
    Total
Stockholders’
 
    Shares    Amount    Capital    Deficit    Subsidiaries    Deficit 
Balances as of December 31, 2019   383,038,334    11,491    14,107,782    (19,968,668)   239    (5,849,156)
Net loss   -    -    -    (682,798)   -    (682,798)
Balance as of March 31, 2020   383,038,334    11,491    14,107,782    (20,651,466)   239    (6,531,954)
Net loss                  (371,786)   -    (371,786)
Balance as of June 30, 2020   383,038,334    11,491    14,107,782    (21,023,252)   239    (6,903,740)
Resolution of derivative liability             320,000              320,000 
Net income/(loss)                  49,621    (6)   49,615 
Balances as of September 30, 2020   383,038,334   $11,491   $14,427,782   $(20,973,631)  $233   $(6,534,125)

 

See accompanying notes to unaudited consolidated financial statements.

  

 3

 

 

QUEST PATENT RESEARCH CORPORATION AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS

 

   For the 
   Nine Months Ended 
   September 30, 
   2020   2019 
Cash flows from operating activities:          
Net loss  $(1,004,969)  $(1,185,278)
Adjustments to reconcile net loss to net cash provided by/(used in) operating activities:          
Amortization of debt discount   412,189    254,133 
(Gain)/loss on derivative liability   (275,000)   270,000 
Depreciation and amortization   509,768    388,402 
           
Changes in operating assets and liabilities:          
Accounts receivable   (292)   (524,897)
Accrued interest – loans payable related party   -    (25,000)
Accrued interest – loans payable third party   12,267    12,225 
Other current assets   7,533    (17,467)
Accounts payable and accrued expenses   (84,161)   1,235,971 
           
Net cash provided by/(used in) operating activities   (422,665)   408,089 
           
Cash flows from investing activities:          
Purchase of patents   (95,000)   (75,000)
Net cash used in investing activities   (95,000)   (75,000)
           
Cash flows from financing activities:          
Proceeds from sale of future revenue   95,000      
Proceeds from SBA loans   171,732    - 
Repayment of purchase price of patents   (194,386)   (155,614)
Net cash provided by/(used in) financing activities   72,346    (155,614)
           
Net increase (decrease) in cash and cash equivalents   (445,319)   177,475 
           
Cash and cash equivalents at beginning of period   537,198    166,911 
           
Cash and cash equivalents at end of period  $91,879   $344,386 
           
Non-cash investing and financing activities          
Accounts payable for patent purchase, net of imputed interest of $336,781   -    1,238,219 
Resolution of derivative liability   320,000    - 
Supplemental disclosure of cash flow information:          
Cash paid during the period for:          
Income taxes, including foreign taxing authorities withheld taxes of $65,363 and $225 during the periods ended September 30, 2020, and 2019 respectively.   65,363    225 
Interest   350,000    349,500 

 

See accompanying notes to unaudited consolidated financial statements.

 

 4

 

 

QUEST PATENT RESEARCH CORPORATION

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
SEPTEMBER 30, 2020

 

NOTE 1 – DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION

 

The Company is a Delaware corporation, incorporated on July 17, 1987 and has been engaged in the intellectual property monetization business since 2008.

 

As used herein, the “Company” refers to Quest Patent Research Corporation and its wholly-owned and majority-owned and controlled operating subsidiaries unless the context indicates otherwise. All intellectual property acquisition, development, licensing and enforcement activities are conducted by the Company’s operating subsidiaries.

 

The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the US (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these interim financial statements do not include all of the information and notes required by GAAP for complete financial statements. All adjustments (consisting of normal recurring items) necessary to present fairly the Company’s consolidated financial position have been included. These interim financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2019. Operating results for the interim periods presented herein are not necessarily indicative of the results that may be expected for any other interim period or for the entire year. Reclassifications have been made to conform with the current year presentation.

 

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Principles of consolidation and financial statement presentation

 

The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“US GAAP”) and present the consolidated financial statements of the Company and its wholly-owned and majority-owned subsidiaries as of September 30, 2020.

 

The consolidated financial statements include the accounts and operations of:

 

  Quest Patent Research Corporation (“the Company”)
   
  Quest Licensing Corporation (NY) (wholly owned)
   
  Quest Licensing Corporation (DE) (wholly owned)
   
  Quest Packaging Solutions Corporation (90% owned)
   
  Quest Nettech Corporation (65% owned)
   
  Semcon IP, Inc. (wholly owned)
   
  Mariner IC, Inc. (wholly owned)
   
  IC Kinetics, Inc. (wholly owned)
   
  CXT Systems, Inc. (wholly owned)
   
  Photonic Imaging Solutions Inc. (wholly owned)
   
  M-RED Inc. (wholly owned)

 

 5

 

 

Prior to April 2019, the operations of Wynn Technologies, Inc. were not included in the Company’s consolidated financial statements as there were significant contingencies related to its control of Wynn Technologies, Inc. The sole asset of Wynn Technologies, Inc. was US Patent No. RE38,137E. Wynn Technologies, Inc. could not transfer, assign, sell, hypothecate or otherwise encumber US Patent No. RE38,137E without the express written consent of the owner of 35% of Wynn Technologies, Inc., unless, as of the date of such transfer, assignment, sale, hypothecation or other encumbrance, the owner had received a total of at least $250,000. US Patent No. RE38,137E expired on September 28, 2015. The Company accounted for its 65% interest in Wynn Technologies, Inc. under the equity method whereby the investment accounts were increased for contributions by the Company plus its 60% share of income pursuant to the contractual agreement which provides that the holder of 35% of the stock of Wynn Technologies, Inc. retained 40% of the income, and reduced for distributions and its 60% share of losses incurred, respectively, with the restriction whereby the account balances cannot go below zero. On April 11, 2019, Wynn Technologies, Inc. merged into Quest NetTech Corporation with Quest NetTech Corporation being the surviving entity. Pursuant to the merger agreement, Quest NetTech Corporation issued a 35% interest to the former 35% stockholder of Wynn Technologies, Inc.

  

Significant intercompany transaction and balances have been eliminated in consolidation.

 

Use of Estimates

 

In preparing financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenue and expenses during the reporting period. Actual results could differ from those estimates.

 

Intangible Assets

 

Intangible assets consist of patents which are amortized using the straight-line method over their estimated useful lives or statutory lives whichever is shorter and are reviewed for impairment upon any triggering event that may give rise to the assets ultimate recoverability as prescribed under the guidance related to impairment of long-lived assets. Costs incurred to acquire patents, including legal costs, are also capitalized as long-lived assets and amortized on a straight-line basis with the associated patent.

 

Patents include the cost of patents or patent rights (hereinafter, collectively “patents”) acquired from third-parties or acquired in connection with business combinations. Patent acquisition costs are amortized utilizing the straight-line method over their remaining economic useful lives, ranging from one to ten years. Certain patent application and prosecution costs incurred to secure additional patent claims that, based on management’s estimates are deemed to be recoverable, are capitalized and amortized over the remaining estimated economic useful life of the related patent portfolio.

 

Derivative Financial Instruments

 

The Company evaluates the embedded conversion feature within its convertible debt instruments under ASC 815-15 and ASC 815-40 to determine if the conversion feature meets the definition of a liability and, if so, whether to bifurcate the conversion feature and account for it as a separate derivative liability. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based derivative financial instruments, the Company uses a Black Scholes model, in accordance with ASC 815-15 “Derivative and Hedging” to value the derivative instruments at inception and on subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether net-cash settlement of the derivative instrument could be required within 12 months after the balance sheet date.

 

Fair value of financial instruments

 

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. A fair value hierarchy is used which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. See Note 4 for information about derivative liabilities.

 

 6

 

 

The fair value hierarchy based on the three levels of inputs that may be used to measure fair value are as follows:

 

  Level 1 – Quoted prices in active markets for identical assets or liabilities.

 

  Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

 

  Level 3 – Unobservable inputs that are supported by little or no market activity and that are financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation.

 

The carrying value reflected in the consolidated balance sheets for cash and cash equivalents, accounts receivable, accounts payable and accrued expenses and short-term borrowings approximate fair value due to the short-term nature of these items.

 

Income Tax

 

The Company records revenues on a gross basis, before deduction for income taxes. The Company incurred foreign income tax expenses of approximately $0 and $65,000 for the three and nine months ended September 30, 2020, respectively, and approximately $0 and approximately $225 for the three and nine months ended September 30, 2019, respectively.

 

Inventor/Former Owner Royalties and Contingent Legal/Litigation Finance Expenses

 

In connection with the investment in certain patents and patent rights, certain of the Company’s operating subsidiaries may execute related agreements which grant to the inventors and/or former owners of the respective patents or patent rights, the right to receive a percentage of future net revenues (as defined in the respective agreements) generated as a result of licensing and otherwise enforcing the respective patents or patent portfolios.

 

The Company’s operating subsidiaries may retain the services of law firms that specialize in patent licensing and enforcement and patent law in connection with their licensing and enforcement activities. These law firms may be retained on a contingent fee basis whereby such law firms are paid a percentage of any negotiated fees, settlements or judgments awarded.

 

The Company’s operating subsidiaries may engage with funding sources that provide financing for patent licensing and enforcement. These litigation finance firms may be engaged on a non-recourse basis whereby such litigation finance firms are paid a percentage of any negotiated fees, settlements or judgments awarded in exchange for providing funding for legal fees and out of pocket expenses incurred as a result of the licensing and enforcement activities.

 

The economic terms of the inventor agreements, operating agreements, contingent legal fee arrangements and litigation financing agreements associated with the patent portfolios owned or controlled by the Company’s operating subsidiaries, if any, including royalty rates, contingent fee rates and other terms, vary across the patent portfolios owned or controlled by such operating subsidiaries. Inventor/former owner royalties, payments to non-controlling interests, contingent legal fees expenses and litigation finance expenses fluctuate period to period, based on the amount of revenues recognized each period, the terms and conditions of revenue agreements executed each period and the mix of specific patent portfolios with varying economic terms and obligations generating revenues each period. Inventor/former owner royalties, contingent legal fees expenses and litigation finance expenses will continue to fluctuate and may continue to vary significantly period to period, based primarily on these factors.

 

Revenue Recognition

 

The Company recognizes revenue in accordance with ASC Topic 606, “Revenue from Contracts with Customers”. Revenue is recognized when control of the promised goods or services is transferred to customers at an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. Under Topic 606, revenue is recognized when there is a contract which has commercial substance which is approved by both parties and identifies the rights of the parties and the payment terms. The Company adopted Topic 606 as of January 1, 2018 using the modified retrospective transition method, with no impact on the consolidated financial position or results of operations.

 

Recent Accounting Pronouncements

 

Management does not believe that there are any recently issued, but not effective, accounting standards which, if currently adopted, would have a material effect on the Company’s financial statements.

 

 7

 

 

Going Concern

 

As shown in the accompanying financial statements, the Company has an accumulated deficit of approximately $20,974,000 and negative working capital of approximately $7,520,000 as of September 30, 2020. Because of the Company’s continuing losses, its working capital deficiency, the uncertainty of future revenue, the Company’s obligations to Intellectual Ventures and Intelligent Partners, as transferee of United Wireless, the Company’s low stock price and the absence of a trading market in its common stock, the ability of the Company to raise funds in equity market or from lenders is severely impaired. These conditions, together with the effects of the COVID-19 pandemic and the steps taken by the states to slow the spread of the virus and its effect on its business raise substantial doubt as to the Company’s ability to continue as a going concern. Although the Company may seek to raise funds and to obtain third party funding for litigation to enforce its intellectual property rights, the availability of such funds, particularly in view of the COVID-19 pandemic, is uncertain. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. The Company is in default on payment of principal and interest on its convertible notes due September 30, 2020 in the principal amount of $4,672,812. Accrued interest on the notes was $117,780. The Company has obtained a standstill agreement of the noteholder until November 13, 2020. In connection with the standstill agreement, the Company paid the $117,780 interest accrued at September 30, 2020, and, in connection with an extension of the standstill to November 13, 2020, the Company paid additional interest through the standstill period of $20,000. Although the Company is in negotiations with the noteholder with respect to a restructure of the note and other payment agreements between the noteholder and the Company, it can give no assurance that the negotiations will result in a revised agreement. The failure of the Company to negotiate an acceptable restructure of the agreement could materially and adversely affect the ability of the Company to continue in business, and it may be necessary for the Company to seek protection under the Bankruptcy Act.

 

NOTE 3 – SHORT-TERM DEBT AND LONG-TERM LIABILITIES

 

The following table shows the Company’s short-term and long-term debt at September 30, 2020 and December 31, 2019.

 

   September 30,   December 31, 
   2020   2019 
Short-term debt:        
Loans payable – third party   $147,000   $147,000 
Purchase price of patents – current portion   975,000    569,386 
Net short-term debt   1,122,000    716,386 
           
Loan payable – related party          
Gross   4,672,810    4,672,810 
Accrued Interest   117,780    117,780 
Unamortized discount   -    (189,705)
Net loans payable – related party  $4,790,590   $4,600,885 
Long-term liabilities:          
Loans payable - SBA          
Gross  $170,832    - 
Accrued Interest   2,142    - 
Net loans payable SBA   172,974    - 
Purchase price of patents          
Gross   1,315,000    1,725,000 
Unamortized discount   (155,019)   (282,503)
Net purchase price of patents – long-term  $1,159,981   $1,442,497 
Contingent funding liabilities:          
Gross   20,378    20,378 
Net contingent funding liabilities  $20,378   $20,378 

 

Loan payables:

 

The loan payable – third party represents unsecured demand loans made by former officers and directors, who are unrelated third parties at September 30, 2020, and December 31, 2019, in the amount of $147,000. The loans are payable on demand plus accrued interest at 10% per annum. These third parties are also stockholders, but their stockholdings are not significant.

 

 8

 

 

The loan payable – related party at September 30, 2020 represents the principal amount of the Company’s 10% secured convertible note to Intelligent Partners, LLC (“Intelligent Partners”) as transferee of the secured convertible notes issued to United Wireless Holdings, Inc. (“United Wireless”), in the amount of $4,672,810 pursuant to securities purchase agreement dated October 22, 2015 between the Company and United Wireless, as more fully described in the Company’s financial statements for the year ended December 31, 2019. The notes payable to Intelligent Partners, as transferee of United Wireless, are classified as a current liability as of September 30, 2020 and December 31, 2019. The notes became due by their terms on September 30, 2020, and the Company did not make any payment on account of principal of and interest on the notes on that date. See Note 10 for information with respect to current status of the notes payable to Intelligent Partners.

 

Interest on all notes issued pursuant to the securities purchase agreement, accrued through September 30, 2018, with accrued interest being added to principal on September 30, 2016, 2017 and 2018. On September 30, 2018, approximately $395,459 of accrued interest was added to principal. Since September 30, 2018, the Company has been required to pay interest quarterly. For the three and nine months ended September 30, 2020, the Company paid approximately $117,000 and 350,000 in interest, respectively, on these loans.

 

Because of its right to elect a director of the Company, United Wireless is treated as a related party. Prior to the securities purchase agreement with United Wireless, the Company had no relationship with United Wireless.

  

Long term liabilities

 

The loans payable-SBA at September 30, 2020 represents:

 

  An unsecured loan from JPMorgan Chase Bank, N.A. in the aggregate amount of $20,832, pursuant to the Paycheck Protection Program (the “PPP”) under Division A, Title I of the Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, which was enacted March 27, 2020. The loan, which was taken down on April 23, 2020, matures on April 23, 2022 and bears interest at a rate of 0.98% per annum, with interest payable monthly commencing on November 23, 2020. The loan may be prepaid by the Company at any time prior to maturity with no prepayment penalties. Funds from the loan may only be used for payroll costs, costs used to continue group health care benefits, mortgage payments, rent, utilities, and interest on other debt obligations incurred before February 15, 2020. The Company has used the entire loan amount for qualifying expenses. Under the terms of the PPP, certain amounts of the loan may be forgiven if they are used for qualifying expenses as described in the CARES Act.

 

  A secured Economic Injury Disaster Loan from the U.S. Small Business Association (“SBA”) in the aggregate amount of $150,000, pursuant to Section 7(b) of the Small Business Act as part of the COVID-19 relief effort. The Company’s obligations on the loan are set forth in the Company’s note dated May 14, 2020 which matures on May 14, 2050 and bears interest at a rate of 3.75% per annum, payable monthly commencing on May 14, 2021. The Note may be prepaid by the Company at any time prior to maturity with no prepayment penalties. Funds from the Loan may be used solely as working capital to alleviate economic injury caused by disaster occurring in the month of January 31, 2020 and continuing thereafter and to pay Uniform Commercial Code (UCC) lien filing fees and a third-party UCC handling charge of $100 which were deducted from the loan amount stated above. In addition to the loan, as part of the COVID-19 relief effort, the Company obtained an Emergency EIDL Grant from the SBA in the amount of $1,000. The Company is not required to repay the grant.

 

The purchase price of patents at September 30, 2020 represents:

 

  the minimum payments due under the agreement between CXT Systems, Inc. (“CXT”), a wholly owned subsidiary, and IV 34/37 pursuant to which at closing CXT acquired by assignment all right, title, and interest in a portfolio of fourteen United States patents, five foreign patents and six related applications (the “CXT Portfolio”). Under the agreement, CXT will distribute 50% of net recoveries, as defined, to IV 34/37. CXT advanced $25,000 to IV 34/37 at closing, and agreed that in the event that, on December 31, 2018, December 31, 2019 and December 31, 2020, cumulative distributions to IV 34/37 total less than $100,000, $375,000 and $975,000, respectively, CXT shall pay the difference necessary to achieve the applicable minimum payment amount within ten days after the applicable date; with any advances being credited toward future distributions to IV 34/36. As of September 30, 2020, $600,000 of the minimum future cumulative distributions were presented as short-term debt based on the payment due date. No affiliate of CXT has guaranteed the minimum payments. CXT’s obligations under the agreement are secured by a security interest in the proceeds (from litigation or otherwise) from the CXT Portfolio. During the nine-months ended September 30, 2020, the Company paid the $194,386 liability that was classified as a short-term liability as of December 31, 2019.

 

 9

 

 

  The non-current portion of minimum payments due under the agreement between M-RED Inc. (“M-RED”), a wholly owned subsidiary and Intellectual Ventures Assets 113 LLC and Intellectual Ventures Assets 108 LLC (“IV 113/108”) pursuant to which M-RED paid IV 113/108 $75,000 and IV 113/108 transferred to M-RED all right, title and interest in a portfolio of sixty United States patents and eight foreign patents (the “M-RED Portfolio”). Under the agreement, M-RED is to distribute 50% of net proceeds, as defined, to IV 113/108, as long as the Company generates revenue from the M-RED Portfolio. The agreement with IV 113/108 provides that if, on September 30, 2020, September 30, 2021 and September 30, 2022, cumulative distributions to IV 113/108 total less than $450,000, $975,000 and $1,575,000, respectively, M-RED shall pay the difference between such cumulative amounts and the amount paid to IV 113/108 within ten days after the applicable date. The $75,000 initial payment is treated as an advance against the first distributions of net proceeds payable to IV 113/108. As of September 30, 2020, $1,125,000 and $375,000 of the minimum future cumulative distributions were presented as long-term and short-term debt, respectively, based on payment due dates. Neither the Company nor any of its affiliates has guaranteed the minimum payments. M-RED’s obligations under the agreement with IV 113/108 are secured by a security interest in the proceeds (from litigation or otherwise) from the M-RED Portfolio.

  

  The non-current portion of our obligations under the unsecured non-recourse funding agreement with a third-party funder entered into in May 2020 whereby the third-party agreed to provide acquisition funding in the amount of $95,000 for the Company’s acquisition of the audio messaging portfolio. Under the funding agreement, the third party funder is entitled to a priority return of funds advanced from net proceeds. as defined, recovered until the funder has received $190,000. The Company has no other obligation to the third party and has no liability to the funder in the event that the Company does not generate net proceeds. Pursuant to ASC 470, the company recorded this monetization obligation as debt and the difference between the purchase price and total obligation as a discount to the debt and fully expensed to interest during the period.

 

The contingent funding liabilities at September 30, 2020 represents:

 

 

the non-current portion of our obligations under the unsecured non-recourse litigation funding agreement with a third-party litigation funder entered into in December 2018 whereby the third-party agreed to provide litigation funding in the amount of $150,000 to the Company to enable the Company to support its structured licensing programs for the CMOS and M-RED portfolios. Under the funding agreement, the third party receives a priority interest in the proceeds from the programs that are payable to the Company, and the Company has no other obligation to the third party.

 

The Company’s relationship with the funding source meets the criteria in ASC 470-10-25 - Sales of Future Revenues or Various Other Measures of Income (“ASC 470”), which relates to cash received from a funding source in exchange for a specified percentage or amount of revenue or other measure of income of a particular product line, business segment, trademark, patent, or contractual right for a defined period. Under this guidance, the Company recognized the fair value of its contingent obligation to the funding source, as of the acquisition date, as long-term debt in its consolidated balance sheet. This initial fair value measurement is based on the perspective of a market participant and includes significant unobservable inputs which are classified as Level 3 inputs within the fair value hierarchy and are discussed further within Note 2. At each subsequent reporting period, the Company will measure the long-term debt at fair value based on the discounted expected future cash flows over the life of the obligation. The Company’s repayment obligations are contingent upon future patent licensing fee revenues generated from the licensing programs.

 

Under ASC 470, amounts recorded as debt shall be amortized under the interest method. The Company made an accounting policy election to utilize the prospective method when there is a change in the estimated future cash flows, whereby a new effective interest rate is determined based on the revised estimate of remaining cash flows. The new rate is the discount rate that equates the present value of the revised estimate of remaining cash flows with the carrying amount of the debt, and it will be used to recognize interest expense for the remaining periods. Under this method, the effective interest rate is not constant, and any change in expected cash flows is recognized prospectively as an adjustment to the effective yield. As of September 30, 2020, the total contingent funding liability was approximately $20,000, and the effective interest rate was approximately 8.5%. This rate represents the discount rate that equates the estimated future cash flows with the fair value of the debt and is used to compute the amount of interest to be recognized each period. Any future payments made to the funding source will decrease the long-term debt balance accordingly. For the period ended September 30, 2020, the amortization amount is deemed immaterial.

 

 10

 

 

NOTE 4 – DERIVATIVE LIABILITIES

 

Because there is not a fixed conversion price, remaining compliant with the authorized share requirement under the notes to Intelligent Partners is outside of the control of the Company. Because there is no set limit on the number of shares issuable under the notes if the notes become convertible, absent an increase in the stock price or an increase in authorized shares, there are potentially not enough authorized shares of common stock to satisfy the exercise of the Company’s options, thus the Company determined that certain options qualify as derivative liabilities under ASC Topic 815. On January 22, 2016, the Company reclassified all non-employee warrants and options as derivative liabilities and revalued them at their fair values at each balance sheet date. Any change in fair value was recorded as other income (expense) for each reporting period at each balance sheet date.

 

As of September 30, 2020, and December 31, 2019, the aggregate fair value of the outstanding derivative liability was approximately $0 and $595,000, respectively. The underlying derivative expired unexercised on September 30, 2020, the derivative liability was resolved and credited back to additional paid in capital.

  

The Company estimated the fair value of the derivative liability using the Black-Scholes option pricing model using the following key assumptions during the period ended September 30, 2020 and December 31, 2019:

 

   Period Ended 
   September 30,   December 31, 
   2020   2019 
Volatility   261%   207-426%
Risk-free interest rate   0.20%   0.24%
Expected dividends   -%   -%
Expected term   -    1.75-4.70 

 

The following schedule summarizes the valuation of financial instruments at fair value in the balance sheets as of September 30, 2020 and December 31, 2019:

 

   Fair Value Measurements as of 
   September 30, 2020   December 31, 2019 
   Level 1   Level 2   Level 3   Level 1   Level 2   Level 3 
Assets                        
None  -   -   -   -   -   - 
Total assets   -    -    -    -    -    - 
                               
Liabilities                              
Option derivative liability   -    -    -    -    -    595,000 
Total liabilities  $-   $-   $-   $-   $-   $595,000 

 

The following table sets forth a reconciliation of changes in the fair value of derivative liabilities classified as Level 3 in the fair value hierarchy:

 

  

Significant
Unobservable
Inputs (Level 3)
as of
September 30,
2020

 
Beginning balance  $595,000 
Change in fair value   (275,000)
Resolution of derivative liability   (320,000)
Ending balance  $0 

 

 11

 

 

NOTE 5 – STOCKHOLDERS’ EQUITY

 

No options were granted during the nine months ended September 30, 2020.

 

A summary of the status of the Company’s stock options and changes is set forth below:

 

    Number of
Options
(#)
   Weighted
Average
Exercise
Price
($)
   Weighted
Average
Remaining
Contractual
Life
(Years)
 
Balance - December 31, 2019    50,000,000    0.03    0.75 
Granted    -    -    - 
Exercised    -    -    - 
Expired    (50,000,000)   0.03    - 
Cancelled    -    -    - 
Balance - September 30, 2020    -    -    - 

  

NOTE 6 – INTANGIBLE ASSETS

 

Intangible assets include patents purchased and are recorded based at their acquisition cost. Intangible assets consisted of the following:

 

           Weighted average 
   September 30,   December 31,   amortization period 
   2020   2019   (years) 
Patents  $5,690,000   $5,595,000    6.50 
Less: net monetization obligations   (509,811)   (509,811)     
Imputed interest   (713,073)   (713,073)     
Subtotal   4,467,116    4,372,116      
Less: accumulated amortization   (2,127,530)   (1,617,762)     
Net value of intangible assets  $2,339,586   $2,754,354    6.38 

 

Intangible assets are comprised of patents with estimated useful lives. The intangible assets at September 30, 2020 represent:

 

  patents acquired in October 2015 for a purchase price of $3,000,000, the useful lives of the patents, at the date of purchase, was 6-10 years;

 

  patents acquired in July 2017 pursuant to an obligation to distribute 50% of net revenues to IV 34/37, against which $25,000 was advanced at closing and provided that in the event that, on December 31, 2018, December 31, 2019 and December 31, 2020, cumulative distributions of 50% of net revenues to IV 34/37 total less than $100,000, $375,000 and $975,000, respectively, CXT shall pay the difference necessary to achieve the applicable minimum payment amount within ten days after the applicable date; with any advances being credited toward future distributions to IV 34/36; the useful lives of the patents, at the date of acquisition, was 5-6 years;

 

  patents (which were fully depreciated at the date of acquisition) acquired in January 2018 pursuant to an agreement with to Intellectual Ventures Assets 62 LLC and Intellectual Ventures Assets 71 LLC “(IV 62/71”), pursuant to which CXT has an obligation to distribute 50% of net revenues to IV 62/71 against which CXT advanced $10,000 at closing;

 

 12

 

 

  patents acquired in January 2018 by Photonic Imaging Solutions Inc. (“PIS”) from Intellectual Ventures Assets 64 LLC (“IV 64”) pursuant to which PIS is to pay IV 64 (a) 70% of the first $1,500,000 of net revenue, (b) 30% of the next $1,500,000 of net revenue and (c) 50% of net revenue in excess of $3,000,000, against which PIS advanced $10,000 at closing; and

 

  patents acquired in March 2019 by M-Red Inc. (“M-Red”) from Intellectual Ventures Assets 113 LLC and Intellectual Ventures 108 LLC (“IV 113/108”) pursuant to which M-Red is obligated to distribute 50% of net revenues to IV 113/108, against which $75,000 was advanced at closing and provided that in the event that, on September 30, 2020, September 30, 2021 and September 30, 2022, cumulative distributions of 50% of net revenues to IV 113/108 total less than $450,000, $975,000 and $1,575,000, respectively, M-Red shall pay the difference necessary to achieve the applicable minimum payment amount within ten days after the applicable date; with any advances being credited toward future distributions to IV 113/108; the useful lives of the patents, at the date of acquisition, was approximately nine years; and

 

  patents (which were fully depreciated at the date of acquisition) acquired in May 2020 for a purchase price of $95,000 pursuant to an agreement with Texas Technology Ventures 2, LLP (“TTV”), pursuant to which of the Company retains the first $230,000 of net proceeds, as defined in the agreement, after which the company has an obligation to distribute 50% of net proceeds to TTV.

 

The Company amortizes the costs of intangible assets over their estimated useful lives on a straight-line basis. Costs incurred to acquire patents, including legal costs, are also capitalized as long-lived assets and amortized on a straight-line basis with the associated patent. Amortization of patents is included as a selling, general and administrative expense in the accompanying consolidated statements of operations.

  

The Company assesses intangible assets for any impairment to the carrying values. As of September 30, 2020, and December 31, 2019, management concluded that there was no impairment to the acquired assets. At September 30, 2020 and December 31, 2019, the book value of the Company’s intellectual property was $2,339,586 and $2,754,354, respectively.

 

Amortization expense for patents comprised $509,768 and $529,486 for the nine months ended September 30, 2020 and the year ended December 31, 2019, respectively. Future amortization of intangible assets is as follows:

 

Year ended December 31,    
Remainder of 2020  $135,350 
2021   549,345 
2022   495,742 
2023   323,070 
2024 and thereafter   836,079 
Total  $2,339,586 

 

Pursuant to the securities purchase agreement dated October 22, 2015 between the Company and United Wireless, more fully described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, 15% of the net monetization proceeds from the patents acquired in October 2015 will be paid to Intelligent Partners, as transferee of United Wireless. This monetization obligation was recognized as a discount to the loan and amortized over the life of the loan using the effective interest method. In addition, the Company entered into a monetization agreement with United Wireless pursuant to which the Company agreed to pay United Wireless 7.5% of the net monetization proceeds from the patents acquired by CXT in July 2017. This obligation was recorded as an expense and is reflected in interest expense during the third quarter of 2017.

 

The Company granted Intellectual Ventures a security interest in the patents assigned to the Company as security for the payment of the balance of the purchase price. The security interest of Intellectual Ventures is senior to the security interest of Intelligent Partners, as successor to United Wireless, in the proceeds derived from such patents.

 

Pursuant to the funding agreement dated May 29, 2019 between the Company and the funding source, 100% of the net monetization proceeds due to the company from the audio messaging patents acquired in May 2020 will be paid to the funding source until the funding source receives $190,000. The monetization obligation, net of the $95,000 provided by the funding source, was recognized as a discount to the debt and fully amortized to interest expense during the period.

 

 13

 

 

The balance of the purchase price of the patents is reflected as follows:

 

   September 30,
2020
    December 31,
2019
 
Current Liabilities:           
Purchase price of patents, current portion   975,000    $569,386 
Unamortized discount   -       
Non-current liabilities:           
Purchase price of patents, long term   1,315,000    $1,725,000 
Unamortized discount   (155,019)    (282,503)
Total current and non-current   2,134,981     2,011,883 
Effective interest rate of Amortized over 2-3 years   9.35%-14.45%    9.6-12.5%

 

Because the non-current minimum payment obligations are due over the next three years, the Company imputed interest at 10% per annum and the interest will be accreted up to the maturity date.

 

NOTE 7 – NON-CONTROLLING INTEREST

 

The following table reconciles equity attributable to the non-controlling interest related to Quest Packaging Solutions Corporation.

 

Balance as of December 31, 2019  $239 
Net loss income attributable to non-controlling interest  $(6)
Balance as of September 30, 2020  $233 

  

NOTE 8 – RELATED PARTY TRANSACTIONS

 

The Company has at various times entered into transactions with related parties, including officers, directors and major stockholders, wherein these parties have provided services, advanced or loaned money, or both, to the Company which was needed to support its daily operations. The Company discloses all related party transactions.

 

See Notes 3 and 6 in connection with transactions with United Wireless. During periods ended September 30, 2020 and 2019, the Company incurred interest expense on the Company’s 10% notes issued to United Wireless pursuant to the securities purchase agreement dated October 22, 2015 more fully described in the Company’s financial statements for the year ended December 31, 2019. On each of September 30, 2017 and 2018, accrued interest was added to the principal amount of the note. Subsequent to September 30, 2018, the Company is to pay interest quarterly. During the three and nine months ended September 30, 2020 the Company paid the amounts due of approximately $117,000 and 350,000 in interest, respectively, and the amounts due of approximately $117,000 and 350,000 for the three and nine months ended September 30, 2019, respectively.

 

See Note 9 with respect to the employment agreement with the Company’s president and chief executive officer.

 

During the three and nine months ended September 30, 2020 and 2019, the Company contracted with an entity owned by the chief technology officer for the provision of information technology services to the Company. The cost of such services was approximately $115 and $320 for the three and nine months ended September 30, 2020, respectively, and approximately $115 and $350 for the three and nine months ended September 30, 2019, respectively.

 

During the three and nine months ended September 30, 2020, the Company contracted with a law firm more than 10 percent owned, but not controlled, by the father-in-law of the chief executive officer. The firm is engaged on a contingent fee basis and serves as escrow agent for the Company in connection with monetization of the Company’s intellectual property rights. As of September 30, 2020 the Company recorded an accrued liability of approximately $564,000 in connection with the engagement. In prior periods, the Company engaged a firm at which the father-in-law of the chief executive was formerly a partner. Because his interest in the prior firm was less than 10%, the prior firm was not considered a related party in prior periods.

 

 14

 

 

NOTE 9 – COMMITMENTS AND CONTINGENCIES

 

Employment Agreements

 

Pursuant to a restated employment agreement, dated November 30, 2014, with the Company’s president and chief executive officer, the Company agreed to employ him as president and chief executive officer for a term of three years, commencing January 1, 2014, and continuing on a year-to-year basis unless terminated by either party on not less than 90 days’ notice prior to the expiration of the initial term or any one-year extension. The agreement provides for an initial annual salary of $252,000, which may be increased, but not decreased, by the board or the compensation committee. In March 2016, the Company’s board of directors increased the chief executive officer’s annual salary to $300,000, effective January 1, 2016. The chief executive officer is entitled to a bonus if the Company meets or exceeds performance criteria established by the compensation committee. In August 2016, the Company’s board of directors approved annual bonus compensation equal to 30% of the amount by which the Company’s consolidated income before income taxes exceeds $500,000, but, if the Company is subject to the limitation on deductibility of executive compensation pursuant to Section 162(m) of the Internal Revenue Code, the bonus cannot exceed the amount which would be deductible pursuant to Section 162(m). The chief executive officer is also eligible to participate in any executive incentive plans which the Company may adopt.

 

On May 11, 2020, the board of directors adopted a Simplified Employee Pension – Individual Retirement Accounts Contribution Agreement for it employees pursuant to which the Company deposits to a SEP IRA account of its employees a percentage of the employee’s compensation, subject to statutory limitations on the amount of the contribution. For 2020, the percentage was set at 19%. The Company has only one employee, its chief executive officer.

 

Inventor Royalties, Contingent Litigation Funding Fees and Contingent Legal Expenses

 

In connection with the investment in certain patents and patent rights, certain of the Company’s operating subsidiaries executed agreements which grant to the former owners of the respective patents or patent rights, the right to receive inventor royalties based on future net revenues (as defined in the respective agreements) generated as a result of licensing and otherwise enforcing the respective patents or patent portfolios.

 

The Company’s operating subsidiaries may engage third party funding sources to provide funding for patent licensing and enforcement. The agreements with the third party funding sources may provide that the funding source receive a portion of any negotiated fees, settlements or judgments. In certain instances, these third party funding sources are entitled to receive a significant percentage of any proceeds realized until the third party funder has recouped agreed upon amounts based on formulas set forth in the underlying funding agreement, which may reduce or delay and proceeds due to the Company.

 

The Company’s operating subsidiaries may retain the services of law firms in connection with their licensing and enforcement activities. These law firms may be retained on a contingent fee basis whereby the law firms are paid on a scaled percentage of any negotiated fees, settlements or judgments awarded based on how and when the fees, settlements or judgments are obtained.

 

Depending on the amount of any recovery, it is possible that all the proceeds from a specific settlement may be paid to the funding source and legal counsel.

 

The economic terms of the inventor agreements, funding agreements and contingent legal fee arrangements associated with the patent portfolios owned or controlled by the Company’s operating subsidiaries, if any, including royalty rates, proceeds sharing rates, contingent fee rates and other terms, vary across the patent portfolios owned or controlled by the operating subsidiaries. Inventor royalties, payments to noncontrolling interests, payments to third party funding providers and contingent legal fees expenses fluctuate period to period, based on the amount of revenues recognized each period, the terms and conditions of revenue agreements executed each period and the mix of specific patent portfolios with varying economic terms and obligations generating revenues each period. Inventor royalties, payments to third party funding sources and contingent legal fees expenses will continue to fluctuate and may continue to vary significantly period to period, based primarily on these factors.

 

In December 2018, the Company entered into an unsecured non-recourse funding agreement whereby a third party agreed to provide funds to the Company to enable the Company to support its structured licensing programs for the CMOS and M-RED portfolios. Under the funding agreement, the third party receives an interest in the proceeds from the programs, and the Company has no other obligation to the third party. As of September 30, 2020, the Company paid the third party approximately $130,000 under the agreement.

 

 15

 

 

In May 2020, the Company entered into an unsecured non-recourse funding agreement whereby a third party agreed to provide funds for the acquisition of the audio messaging portfolio. Under the funding agreement, the third party receives a priority interest in the net proceeds, as defined in the agreement, from the program up to $190,000 and the Company has no other obligation to the third party and has no liability to the funder in the event that the Company does not generate net proceeds. See Note 3 for information with respect to the funding agreement.

 

Patent Enforcement and Other Litigation

 

Certain of the Company’s operating subsidiaries are engaged in litigation to enforce their patents and patent rights. In connection with these patent enforcement actions, it is possible that a defendant may request and/or a court may rule that an operating subsidiary has violated statutory authority, regulatory authority, federal rules, local court rules, or governing standards relating to the substantive or procedural aspects of such enforcement actions. In such event, a court may issue monetary sanctions against the Company or its operating subsidiaries or award attorney’s fees and/or expenses to a defendant(s), which could be material, and if required to be paid by the Company or its operating subsidiaries, could materially harm the Company’s operating results and financial position and could result in a default under the Company’s notes to Intelligent Partners, which are already in default as a result of the Company’s failure to pay the notes on the September 30, 2020 maturity date. Since the operating subsidiaries do not have any assets other than the patents, and the Company does not have any available financial resources to pay any judgment which a defendant may obtain against a subsidiary, such a judgement may result in the bankruptcy of the subsidiary and/or the loss of the patents, which are the subsidiaries’ only assets.

 

On January 19, 2017, the court in the Mobile Data Portfolio litigation granted the defendants’ motion for summary judgment of non-infringement, On January 31, 2017, Quest Licensing Corporation filed a notice of appeal with the United States Court of Appeals for the Federal Circuit. Following the court’s decision granting the defendant’s motion for summary judgment, the defendants moved for an award of attorneys’ fees under Section 285 of the Patent Act which provides that “the court in exceptional cases may award reasonable attorney fees to the prevailing party.” On June 29, 2017, the defendants’ motion for attorney fees in the Mobile Data litigation was denied, without prejudice and with leave to renew their motion thirty days from the decision of the appellate court on Quest Licensing Corporation’s appeal. On June 8, 2018 the appellate court affirmed the lower court’s decision. On June 9, 2018 Quest Licensing Corporation filed a petition for rehearing with the appellate court. On July 30, 2018 the appellate court denied Quest Licensing Corporations petition for rehearing. On March 27, 2019 the court in the Mobile Data Portfolio litigation denied the defendants’ motion for attorney fees under Section 285 of the Patent Act.

  

In May 2018, CXT brought patent infringement suits in the United States District Court for the Eastern District of Texas against Stage Stores, Inc. In February 2020, Specialty Retailers, Inc. (“Specialty”), the parent company of Stage Stores, Inc., failed to make the final installment payment pursuant to the Settlement and License Agreement between Specialty and CXT. On March 31, 2020, CXT made a sealed motion with the Court to Reopen the Action and Enforce the Settlement Agreement. On May 1, 2020, CXT filed a sealed motion with the Court seeking Summary Judgment to Enforce the Settlement Agreement. On May 4, 2020, the Court granted the motion. On May 10, 2020 Specialty filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division. On May 16, 2020, CXT filed a proof of claim with the Bankruptcy Court. On May 20, 2020, the reopened District Court action was stayed automatically pending the outcome of the bankruptcy action.

 

In May 2018 CXT Systems brought patent infringement suits in the United States District Court for the Eastern District of Texas against J.C. Penney Company, Inc. (“JCP”). On April 20, 2020 the parties entered into a settlement and license agreement and the case was dismissed. On May 15, 2020 JCP filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division. On June 4, 2020, the CXT notified JCP of material breach of the settlement and license agreement for failure to make payment pursuant to the agreement. On May 16, 2020, CXT filed a proof of claim with the Bankruptcy Court.

 

 16

 

 

NOTE 10 – SUBSEQUENT EVENTS

 

At September 30, 2020, promissory notes in the aggregate principal amount of $4,672,810 payable to Intelligent Partners became due. At September 30, 2020, accrued interest on the notes was $117,780. The notes became due by their terms on September 30, 2020, and the Company did not make any payment on account of principal of and interest on the notes on that date.

 

On October 1, 2020, the Company entered into a standstill agreement with Intelligent Partners pursuant to which:

 

Intelligent Partners agreed that, provided that the Company pays Intelligent Partners $117,780 of accrued interest on the note by October 2, 2020, for a period commencing on October 1, 2020 until the earlier of (i) October 22, 2020 or (ii) the date of any action by any person (other than Intelligent Partners and its affiliates) relating to the assertion of a breach or default by the Company or any of its subsidiaries under any agreement to which the Company or any of its subsidiaries is a party (the “Standstill Period”), Intelligent Partners and any person acting on behalf of Intelligent Partners will forebear from taking any action to enforce any of the rights they have or may have under the Agreements between the Company and Intelligent Partners or under applicable law or otherwise in respect of or arising out of the failure by the Company to pay the principal on the notes on the maturity date thereof or as a result of any defaults or alleged defaults by the Company or any subsidiary of the Company under any of the agreement between the Company and Intelligent Partners or under any applicable law or otherwise.

 

During the Standstill Period, the Company and Intelligent Partners will seek to negotiate a mutually agreeable restructure agreement which provides for restructure of the Company’s obligations under the notes and a modification of its obligations under the Company’s Agreements with Intelligent Partners.

 

On October 1, 2020, the Company made the $117,780 payment to Intelligent Partners. Pursuant to amendments to the standstill agreement, the Standstill Period was extended to October 27, 2020, October 31, 2020 and November 13, 2020. In connection with the third extension, the Company made a payment of $20,000 in full satisfaction of any interest accrued during the Standstill Period on the Company’s note to Intelligent Partners.

 

The Company intends to negotiate in good faith with respect to a restructuring of its obligations to Intelligent Partners. However, the Company cannot give any assurance that it will be successful in negotiating a restructure. In the event the Company is not able to negotiate a restructure, it may not be able to continue in business and may be necessary for the Company to seek protection under the Bankruptcy Act.

 

 17

 

 

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

 

Overview

 

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 or majority-owned subsidiaries. We currently own, control or manage eleven intellectual property portfolios, which principally consist of patent rights. As part of our intellectual property asset management activities and in the ordinary course of our business, it has been necessary for either 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.

 

Our business, like all businesses at the present time, are affected by the COVID-19 pandemic and the steps taken by states to seek to reduce the spread of the virus. Although we do not manufacture or sell products, the COVID-19 pandemic and the work shutdown imposed in the United States and other countries to limit the spread of the virus can have a negative impact on our business. Our revenue is generated almost exclusively from license fees generated from litigation seeking damages for infringement of our intellectual property rights. The work shutdown has affected the court system, with courts operating on a reduced schedule. As a result, patent infringement actions are likely to be lower priority items in allocation of court resources, with the effect that deadlines are likely to be postponed which delays may give defendants an incentive to delay negotiations or offer a lower amount than they might otherwise accept. In addition, the effect of the COVID-19 and the public response may adversely affect the financial condition and prospects of defendants and potential defendants, which would make it less likely that they would be willing to settle our claim. A number of defendants and potential defendants have filed to take advantage of the Bankruptcy Act or have announced that they may consider such action. If any defendant files for protection under the Bankruptcy Act, the action would be stayed and we may not be able to obtain a judgment or recover on any judgment.

 

The COVID-19 pandemic and the response to limit the spread of the infection may affect the financial condition of financing sources and the willingness of potential financing sources to provide funding for our litigation. In addition, these factors may affect a law firms’ ability and willingness to provide us with legal services on a contingent or partial contingent. The possibility that a defendant may seek protection under the Bankruptcy Act may make it less likely that a financing source would finance the litigation or that a law firm would work on a contingency or modified contingency basis.

 

Further, to the extent that holders of intellectual property rights see these factors impacting our ability to generate revenue from their intellectual property, they may be reluctant to sell intellectual property to us on terms which are acceptable to us, if at all.

 

We seek to generate revenue from two sources:

 

  Patent licensing fees relating to our intellectual property portfolio, which includes fees from the licensing of our intellectual property, primarily from litigation relating to enforcement of our intellectual property rights. All of the revenue for the three and nine months ended September 30, 2020 resulted from patent licensing fees, of which approximately 88% and 86%, respectively, was paid to funding sources, legal counsel and prior owners of the respective patents. Approximately all of the revenue for the three and nine months ended September 30, 2019 were from patent licensing fees, of which approximately 87% and 70%, respectively, was paid to funding sources and legal counsel pursuant to our agreements with funding sources, legal counsel and prior owners of the respective patents. Timing and amount of revenue is dependent upon the results of litigation and, depending on the terms of the engagement with counsel, total fees payable across all our portfolio enforcement actions may exceed total settlement recoveries as of a specific date as the settlements do not occur simultaneously.
     
  Licensed packaging sales, which relate to the sale of licensed products, although we did not generate revenue from these sales during the three or nine months ended September 30, 2020.

 

 18

 

 

In previous periods, we also generated revenue from management fees, which we received for managing structured licensing programs, including litigation, related to our intellectual property rights. We do not currently receive these fees and do not have any agreements that provide for such payments.

  

Because of the nature of our business transactions to date, we recognize revenues from licensing upon execution of a license agreement following settlement of litigation and not over the life of the patent. Thus, we would recognize revenue when we receive the license fee or settlement payment. Although we intend to seek to develop portfolios of intellectual property rights that provide us for a continuing stream of revenue, to date we have not been successful in doing so, and we do not anticipate that we will be able to generate any significant revenue from licenses that provide a continuing stream of revenue. Thus, to the extent that we continue to generate cash from single payment licenses, our revenue can, and is likely to, vary significantly from quarter to quarter and year to year. Our gross profit from license fees reflects any royalties which we pay in connection with our license.

 

It is generally necessary for us to commence litigation in order to obtain a recovery for past infringement of, or to license the use of, our intellectual property rights. Intellectual property litigation is very expensive, with no certainty of any recovery. To the extent possible we seek to engage counsel on a contingent fee or partial contingent fee basis, which significantly reduces our litigation cost, but which also reduces the value of the recovery to us. We do not have the resources to enable us to fund the cost of litigation. To the extent that we cannot fund litigation ourselves, we may enter into an agreement with a third-party funding source. Our agreements with the funding sources typically provide that the funding source pays the litigation costs and that the funding source receives a percentage of the recovery, thus reducing our recovery in connection with any settlement of the litigation. In view of our limited cash and our working capital deficiency, we are not able to institute any monetization program that may require litigation unless we engage counsel on a fully contingent basis or we obtain funding from third party funding sources. In these cases, counsel may be afforded a greater participation in the recovery and the third party that funds the litigation would be entitled to participate in any recovery. To the extent that we have agreements with counsel and/or litigation funding sources pursuant to which payments made to them represent a portion of the gross recovery, and such payment is contingent upon a recovery, our revenue from litigation reflects the gross recovery from litigation as licensing fees, and payments to counsel and/or litigation funding sources are reflected as cost of revenue.

 

To a significantly lesser extent, we generate revenue from sale of packaging materials based on our TurtlePakTM technology. Our gross profit from sales reflects the cost of contract manufacturing and labor. We did not generate any revenue from the TurtlePakTM Portfolio other than from the sale of products using our technology.

 

In May 2018, Semcon brought patent infringement actions in the United States District Court for the Eastern District of Texas against TCT Mobile International Limited et. al. and Shenzhen OnePlus Science & Technology Co., Ltd. These actions were settled and our revenue for the three and nine month periods ended September 30, 2020 includes revenue from these settlements. We did not generate revenue from any other litigation in the three or nine months ended September 30, 2020.

 

On April 23, 2020, we borrowed $20,832 from JPMorgan Chase Bank, N.A. pursuant to the Paycheck Protection Program (the “PPP”) under Division A, Title I of the Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act. The loan matures on April 6, 2022 and bears interest at a rate of 0.98% per annum, payable monthly commencing on November 23, 2020. We may prepay the loan at any time prior to maturity with no prepayment penalties. Funds from the loan may only be used for payroll costs, costs used to continue group health care benefits, mortgage payments, rent, utilities, and interest on other debt obligations incurred before February 15, 2020. We intend to use the entire loan amount for qualifying expenses. Under the terms of the PPP, certain amounts of the loan may be forgiven if they are used for qualifying expenses as described in the CARES Act.

 

On May 14, 2020, we took out a secured Economic Injury Disaster Loan from the U.S. Small Business Association (“SBA”) in the amount of $150,000, pursuant to Section 7(b) of the Small Business Act as part of the COVID-19 relief effort, as amended .. Our obligations on the loan are set forth in our note which matures on May 14, 2050 and bears interest at a rate of 3.75% per annum, payable monthly commencing on May 14, 2021. We may prepay this note at any time prior to maturity with no prepayment penalties. Proceeds from the loan may be used solely as working capital to alleviate economic injury caused by disaster occurring in the month of January 31, 2020 and continuing thereafter and to pay Uniform Commercial Code (UCC) lien filing fees and a third-party UCC handling charge of $100 which were deducted from the loan amount. In addition to the loan, as part of the COVID-19 relief effort, we obtained and Emergency EIDL Grant from the SBA in the amount of $1,000. We are not required to repay the grant.

 

 19

 

 

Results of Operations

 

Three and nine months ended September 30, 2020 and 2019

 

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.

 

Operating expenses for the three months ended September 30, 2020 increased by approximately $2,440,000, or 284%, compared to the three months ended September 30, 2019. Operating expenses for the nine months ended September 30, 2020 increased by approximately $3,576,000, or 152%, compared to the nine months ended September 30, 2019. Our principal operating expense for both the three and nine months ended September 30, 2020 was litigation and licensing expenses of approximately $2,996,000 and $4,714,000, respectively, which represent fees payable to attorneys, third-party funding sources and inventors/former patent owners associated with the CXT, M-RED and power management portfolio licenses and are reflected as cost of revenues. These fees became payable as a result of license agreements. The total licensing fee is included in revenue and the associated costs are treated as cost of revenue. When the licensing fee funds are disbursed we receive the net amount due us after deducting the associated settlement costs. We had settlement costs of approximately $555,000 and approximately $1,400,000 for the three and nine months ended September 30, 2019, respectively. As discussed above, the timing and amount of revenue is dependent upon the results of litigation seeking to enforce our intellectual property rights. Depending on the terms of the engagement with counsel, total fees payable across all our portfolio enforcement actions may exceed total settlement recoveries as of a specific date as the settlements do not occur simultaneously.

 

Other income (expense) for the three and nine months ended September 30, 2020 included a gain on the derivative liability associated with the options granted pursuant to our agreement with Intelligent Partners of $175,000 and $275,000, respectively. We realize a gain of $290,000 and incurred a loss of $270,000 on derivative liability for the three and nine months ended September 30, 2019, respectively. Other income (expense) reflects interest expense of approximately $233,000 and approximately $776,000 for the three and nine months ended September 30, 2020, respectively, and approximately $216,000 and approximately $591,000 for the three and nine months ended September 30, 2019. The increase in interest expense reflects the interest accrued on our note to Intelligent Partners.

 

We incurred income tax expense of approximately $0 and $65,000 for the three and nine months ended September 30, 2020, respectively, compared to approximately $0 and $225 for the three and nine months ended September 30, 2019. The increase in income tax expense primarily reflect foreign income taxes related to foreign source patent licensing fees. We did not incur foreign income tax expenses in the three and nine months ended September 30, 2019.

 

As a result of the foregoing, we realized net income of approximately $50,000, or $0.00 per share (basic and diluted) and a net loss of approximately $1,005,000, or $0.00 per share (basic and diluted), for the three and nine months ended September 30, 2020, respectively, compared to net loss of approximately $145,000, or $0.00 per share (basic and diluted), and approximately $1,185,000, or $0.00 per share (basic and diluted) for the three and nine months ended September 30, 2019, respectively.

 

 20

 

 

Liquidity and Capital Resources

 

At September 30, 2020, we had current assets of approximately $1,952,000, and current liabilities of approximately $9,473,000. Our current liabilities include approximately $975,000, payable to Intellectual Ventures, loans payable of approximately $4,673,000, and accrued interest of approximately $118,000 payable to Intelligent Partners, as transferee of the notes initially issued to United Wireless, and which are in default as a result of our failure to make payment on the September 30, 2020 maturity date, and loans payable of $147,000 and accrued interest of approximately $281,000 due to former directors and minority stockholders. As of September 30, 2020, we have an accumulated deficit of approximately $20,974,000 and a negative working capital of approximately $7,520,000. Other than salary to our chief executive officer, we do not contemplate any other material operating expense in the near future other than normal general and administrative expenses, including expenses relating to our status as a public company filing reports with the SEC.

 

We cannot assure you that we will be successful in generating future revenues, in obtaining additional debt or equity financing or that such additional debt or equity financing will be available on terms acceptable to us, if at all, or that we will be able to obtain any third party funding in connection with any of our intellectual property portfolios. We have no credit facilities. The timing of any recovery may be affected by the court schedules, which have been affected by court closures or reduced court scheduled as a result of the COVID 19 pandemic and the steps taken by states to address the pandemic.

 

We cannot predict the success of any pending or future litigation. Our obligations to Intelligent Partners are not contingent upon the success of any litigation. If we fail to generate a sufficient recovery in these actions (net of any portion of any recovery payable to the funding source or our legal counsel) in a timely manner to enable us to pay Intelligent Partners on the present loans we would be in default under our agreements with Intelligent Partners which could result in Intelligent Partners obtaining ownership of the three subsidiaries which own the patent rights we acquired from Intellectual Ventures. Our agreements with the funding sources provide that the funding sources will participate in any recovery which is generated. We believe that our financial condition, our history of losses and negative cash flow from operations, and our low stock price make it difficult for us to raise funds in the debt or equity markets.

 

As noted below, there is a substantial doubt about our ability to continue as a going concern.

 

Significant Accounting Policies and Estimates

 

The discussion and analysis of our financial condition and results of operations is based upon our financial statements that have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets and liabilities. On an on-going basis, we evaluate our estimates including the allowance for doubtful accounts, the salability and recoverability of our products, income taxes and contingencies. We base our estimates on historical experience and on other assumptions that we believe to be reasonable under the circumstances, the results of which form our basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

 

Management believes the following critical accounting policies affect the significant judgments and estimates used in the preparation of the financial statements.

 

Principles of Consolidation

 

The consolidated financial statements are prepared in accordance with US GAAP and Rule 8-03 of Regulation S-X of the SEC, and present our financial statements and those of our wholly-owned and majority-owned subsidiaries. In the preparation of our consolidated financial statements, intercompany transactions and balances are eliminated.

 

Use of Estimates and Assumptions

 

The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

 

 21

 

 

Fair Value of Financial Instruments

 

We adopted Financial Accounting Standards Board (“FASB”) ASC 820, “Fair Value Measurements and Disclosures”, for assets and liabilities measured at fair value on a recurring basis. ASC 820 establishes a common definition for fair value to be applied to existing US GAAP that require the use of fair value measurements which establishes a framework for measuring fair value and expands disclosure about such fair value measurements.

 

ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, ASC 820 requires the use of valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized below:

 

  Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities
     
  Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data
     
  Level 3: Unobservable inputs for which there is little or no market data, which require the use of the reporting entity’s own assumptions.

 

In addition, FASB ASC 825-10-25 “Fair Value Option” was effective for January 1, 2008. ASC 825-10-25 expands opportunities to use fair value measurements in financial reporting and permits entities to choose to measure many financial instruments and certain other items at fair value.

 

Income Tax

 

We record revenues on a gross basis, before deduction for income taxes. We incurred foreign income tax expenses of approximately $0 and $65,000 for the three and nine months ended September 30, 2020 and approximately $0 and $225 for the three and nine months ended September 30, 2019, respectively.

 

Long-Lived Assets

 

We review for impairment whenever events or circumstances indicate that the carrying amount of assets may not be recoverable, pursuant to guidance established in ASC 360-10-35-15, “Impairment or Disposal of Long-Lived Assets.” We recognize an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value.

 

Revenue Recognition

 

We recognize revenue in accordance with ASC Topic 606, “Revenue from Contracts with Customers.” Revenue is recognized when control of the promised goods or services is transferred to customers at an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. Under Topic 606, revenue is recognized when there is a contract which has commercial substance which is approved by both parties and identifies the rights of the parties and the payment terms. We adopted Topic 606 as of January 1, 2018, using the modified retrospective transition method, with no impact on the consolidated financial position or results of operations.

 

Cost of Revenue

 

Cost of revenues mainly includes expenses incurred in connection with our patent enforcement activities, such as legal fees, consulting costs, patent maintenance, royalty fees for acquired patents and other related expenses. Cost of revenue does not include expenses related to product development, patent amortization, integration or support, as these are included in general and administrative expenses.

 

 22

 

 

Inventor/Former Owner Royalties and Contingent Legal/Litigation Finance Expenses

 

In connection with the investment in certain patents and patent rights, certain of our operating subsidiaries may execute related agreements which grant to the inventors and/or former owners of the respective patents or patent rights, the right to receive a percentage of future net revenues (as defined in the respective agreements) generated as a result of licensing and otherwise enforcing the respective patents or patent portfolios.

 

Our operating subsidiaries may retain the services of law firms that specialize in patent licensing and enforcement and patent law in connection with their licensing and enforcement activities. These law firms may be retained on a contingent fee basis whereby such law firms are paid a percentage of any negotiated fees, settlements or judgments awarded.

 

Our operating subsidiaries may engage with funding sources that specialize in providing financing for patent licensing and enforcement. These litigation finance firms may be engaged on a non-recourse basis whereby such litigation finance firms are paid a percentage of any negotiated fees, settlements or judgments awarded in exchange for providing funding for legal fees and out of pocket expenses incurred as a result of the licensing and enforcement activities.

 

The economic terms of the inventor agreements, operating agreements, contingent legal fee arrangements and litigation financing agreements associated with the patent portfolios owned or controlled by our operating subsidiaries, if any, including royalty rates, contingent fee rates and other terms, vary across the patent portfolios owned or controlled by such operating subsidiaries. Inventor/former owner royalties, payments to non-controlling interests, contingent legal fees expenses and litigation finance expenses fluctuate period to period, based on the amount of revenues recognized each period, the terms and conditions of revenue agreements executed each period and the mix of specific patent portfolios with varying economic terms and obligations generating revenues each period. Inventor/former owner royalties, contingent legal fees expenses and litigation finance expenses will continue to fluctuate and may continue to vary significantly period to period, based primarily on these factors.

 

Recent Accounting Pronouncements

 

Management does not believe that there are any recently issued, but not effective, accounting standards which, if currently adopted, would have a material effect on our financial statements.

 

Going Concern

 

We have an accumulated deficit of approximately $20,974,000 and negative working capital of approximately $7,520,000 as of September 30, 2020. Because of our continuing losses, our working capital deficiency, the uncertainty of future revenue, our obligations to Intellectual Ventures and Intelligent Partners, as transferee of United Wireless, our low stock price and the absence of a trading market in our common stock, our ability to raise funds in equity market or from lenders is severely impaired. These conditions together with the effects of the COVID-19 pandemic and the steps taken by the state to slow the spread of the virus and its effects on our business raise substantial doubt as to our ability to continue as a going concern. Although we may seek to raise funds and to obtain third party funding for litigation to enforce our intellectual property rights, the availability of such funds, particularly in view of the COVID-19 pandemic, is uncertain. Our financial statements do not include any adjustments that might result from the outcome of this uncertainty. We are in default on payment of principal and interest on our convertible notes due September 30, 2020 in the principal amount of $4,672,812. Accrued interest on the notes was $117,780. We obtained a standstill agreement of the noteholder until November 13, 2020. In connection with the standstill agreement, we paid the $117,780 interest accrued at September 30, 2020, and, in connection with an extension of the standstill to November 13, 2020, we paid additional interest through the standstill period of $20,000. Although we are in negotiation with the noteholder with respect to a restructure of the note and other payment agreements between the noteholder and us, we can give no assurance that the negotiations will result in a revised agreement. Our failure to negotiate an acceptable restructure of the agreement could materially and adversely affect our ability to continue in business and it may be necessary to seek protection under the Bankruptcy Act.

 

Off-balance Sheet Arrangements

 

We have not entered into any other financial guarantees or other commitments to guarantee the payment obligations of any third parties. We have not entered into any derivative contracts that are indexed to our shares and classified as stockholder’s equity or that are not reflected in our consolidated financial statements. Furthermore, we do not have any retained or contingent interest in assets transferred to an unconsolidated entity that serves as credit, liquidity or market risk support to such entity.

 

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

 

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

 

 23

 

 

Item 4. Controls and Procedures.

 

Management’s Conclusions Regarding Effectiveness of Disclosure Controls and Procedures

 

We conducted an evaluation of the effectiveness of our “disclosure controls and procedures” (“Disclosure Controls”), as defined by Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as of September 30, 2020, the end of the period covered by this Quarterly Report on Form 10-Q. The Disclosure Controls evaluation was done under the supervision and with the participation of management, including our chief executive officer and chief financial officer, which positions are held by the same person. There are inherent limitations to the effectiveness of any system of disclosure controls and procedures. Accordingly, even effective disclosure controls and procedures can only provide reasonable assurance of achieving their control objectives. Based upon this evaluation, our chief executive officer and chief financial officer concluded that, due to the inadequacy of our internal controls over financial reporting and our limited internal audit function, our disclosure controls were not effective as of September 30, 2020, such that the information required to be disclosed by us in reports filed under the Securities Exchange Act of 1934 is (i) recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and (ii) accumulated and communicated to the president and treasurer, as appropriate to allow timely decisions regarding disclosure.

 

Changes in Internal Control over Financial Reporting.

 

As reported in our annual report on Form 10-K for the year ended December 31, 2019, management has determined that our internal audit our internal controls contains material weaknesses due to lack of segregation of duties within accounting functions as well as lack of qualified accounting personnel and excessive reliance on third party consultants for accounting, financial reporting and related activities. These problems continue to affect us as we only have on full-time executive officer, who is our only full-time employee and who serves as chief executive officer and chief financial officer.

 

During the period ended September 30, 2020, there was no change in our internal control over financial reporting (as such term is defined in Rule 13a-15(f) under the Exchange Act) that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

 

 24

 

 

PART II - OTHER INFORMATION

 

Item 6. Exhibits.

 

10.1 SBA Economic Injury Disaster Loan Note and Security Agreement dated May 14, 2020
31.1 Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1 Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.ins XBRL Instance Document
101.sch XBRL Taxonomy Schema Document
101.cal XBRL Taxonomy Calculation Document
101.def XBRL Taxonomy Linkbase Document
101.lab XBRL Taxonomy Label Linkbase Document
101.pre XBRL Taxonomy Presentation Linkbase Document

 

 25

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

Date: November 16, 2020

 

  QUEST PATENT RESEARCH CORPORATION
     
  By: /s/ Jon C. Scahill
    Jon C. Scahill
    Chief Executive Officer and
Acting Chief Financial Officer

 

 26

EX-10.1 2 f10q0920ex10-1_questpatent.htm SBA ECONOMIC INJURY DISASTER LOAN NOTE AND SECURITY AGREEMENT DATED MAY 14, 2020

 

DocuSign Envelope ID: C8907BDC-4F3B-47B6-B4A3-198EB576CE74

 

SBA Loan #6317357403

Exhibit 10.1

Doc # L-01-0233279-01

 

Application #3300070808

 

 

 

U.S. Small Business Administration

 

 

NOTE

 

(SECURED DISASTER LOANS)

 

Date: 05.14.2020

Loan Amount: $150,000.00

Annual Interest Rate: 3.75%

 

SBA Loan # 6317357403 Application #3300070808

  

1.PROMISE TO PAY: In return for a loan, Borrower promises to pay to the order of SBA the amount of one hundred and fifty thousand and 00/100 Dollars ($150,000.00), interest on the unpaid principal balance, and all other amounts required by this Note.

 

2.DEFINITIONS: A) “Collateral” means any property taken as security for payment of this Note or any guarantee of this Note. B) “Guarantor” means each person or entity that signs a guarantee of payment of this Note. C) “Loan Documents” means the documents related to this loan signed by Borrower, any Guarantor, or anyone who pledges collateral.

 

3.PAYMENT TERMS: Borrower must make all payments at the place SBA designates. Borrower may prepay this Note in part or in full at any time, without notice or penalty. Borrower must pay principal and interest payments of $731.00 every month beginning Twelve (12) months from the date of the Note. SBA will apply each installment payment first to pay interest accrued to the day SBA receives the payment and will then apply any remaining balance to reduce principal. All remaining principal and accrued interest is due and payable Thirty (30) years from the date of the Note.

  

4.DEFAULT: Borrower is in default under this Note if Borrower does not make a payment when due under this Note, or if Borrower: A) Fails to comply with any provision of this Note, the Loan Authorization and Agreement, or other Loan Documents; B) Defaults on any other SBA loan; C) Sells or otherwise transfers, or does not preserve or account to SBA’s satisfaction for, any of the Collateral or its proceeds; D) Does not disclose, or anyone acting on their behalf does not disclose, any material fact to SBA; E) Makes, or anyone acting on their behalf makes, a materially false or misleading representation to SBA; F) Defaults on any loan or agreement with another creditor, if SBA believes the default may materially affect Borrower’s ability to pay this Note; G) Fails to pay any taxes when due; H) Becomes the subject of a proceeding under any bankruptcy or insolvency law; I) Has a receiver or liquidator appointed for any part of their business or property; J) Makes an assignment for the benefit of creditors; K) Has any adverse change in financial condition or business operation that SBA believes may materially affect Borrower’s ability to pay this Note; L) Dies; M) Reorganizes, merges, consolidates, or otherwise changes ownership or business structure without SBA’s prior written consent; or, N) Becomes the subject of a civil or criminal action that SBA believes may materially affect Borrower’s ability to pay this Note.

 

5.SBA’S RIGHTS IF THERE IS A DEFAULT: Without notice or demand and without giving up any of its rights, SBA may: A) Require immediate payment of all amounts owing under this Note; B) Have recourse to collect all amounts owing from any Borrower or Guarantor (if any); C) File suit and obtain judgment; D) Take possession of any Collateral; or E) Sell, lease, or otherwise dispose of, any Collateral at public or private sale, with or without advertisement.

 

6.SBA’S GENERAL POWERS: Without notice and without Borrower’s consent, SBA may: A) Bid on or buy the Collateral at its sale or the sale of another lienholder, at any price it chooses; B) Collect amounts due under this Note, enforce the terms of this Note or any other Loan Document, and preserve or dispose of the Collateral. Among other things, the expenses may include payments for property taxes, prior liens, insurance, appraisals, environmental remediation costs, and reasonable attorney’s fees and costs. If SBA incurs such expenses, it may demand immediate reimbursement from Borrower or add the expenses to the principal balance; C) Release anyone obligated to pay this Note; D) Compromise, release, renew, extend or substitute any of the Collateral; and E) Take any action necessary to protect the Collateral or collect amounts owing on this Note.

 

 

 

SBA FORM 147 B (5-00)

 

 

 

7.FEDERAL LAW APPLIES: When SBA is the holder, this Note will be interpreted and enforced under federal law, including SBA regulations. SBA may use state or local procedures for filing papers, recording documents, giving notice, foreclosing liens, and other purposes. By using such procedures, SBA does not waive any federal immunity from state or local control, penalty, tax, or liability. As to this Note, Borrower may not claim or assert against SBA any local or state law to deny any obligation, defeat any claim of SBA, or preempt federal law.

 

8.GENERAL PROVISIONS: A) All individuals and entities signing this Note are jointly and severally liable. B) Borrower waives all suretyship defenses. C) Borrower must sign all documents required at any time to comply with the Loan Documents and to enable SBA to acquire, perfect, or maintain SBA’s liens on Collateral. D) SBA may exercise any of its rights separately or together, as many times and in any order it chooses. SBA may delay or forgo enforcing any of its rights without giving up any of them. E) Borrower may not use an oral statement of SBA to contradict or alter the written terms of this Note. F) If any part of this Note is unenforceable, all other parts remain in effect. G) To the extent allowed by law, Borrower waives all demands and notices in connection with this Note, including presentment, demand, protest, and notice of dishonor. Borrower also waives any defenses based upon any claim that SBA did not obtain any guarantee; did not obtain, perfect, or maintain a lien upon Collateral; impaired Collateral; or did not obtain the fair market value of Collateral at a sale. H) SBA may sell or otherwise transfer this Note.

 

9.MISUSE OF LOAN FUNDS: Anyone who wrongfully misapplies any proceeds of the loan will be civilly liable to SBA for one and one- half times the proceeds disbursed, in addition to other remedies allowed by law.

 

10.BORROWER’S NAME(S) AND SIGNATURE(S): By signing below, each individual or entity acknowledges and accepts personal obligation and full liability under the Note as Borrower.

 

 

  Quest Patent Research Corporation  
     
  /s/ Jon C. Scahill  
  Jon C. Scahill, Owner/Officer  

 

 

 

 

DocuSign Envelope ID: C8907BDC-4F3B-47B6-B4A3-198EB576CE74

 

SBA Loan #6317357403

Doc # L-01-0233279-01

 

Application #3300070808

 

U.S. Small Business Administration

 

SECURITY AGREEMENT

 

SBA Loan #: 6317357403
Borrower: Quest Patent Research Corporation
Secured Party: The Small Business Administration, an Agency of the U.S. Government
Date:

05.14.2020

Note Amount:

$150,000.00

  

1.DEFINITIONS.

 

Unless otherwise specified, all terms used in this Agreement will have the meanings ascribed to them under the Official Text of the Uniform Commercial Code, as it may be amended from time to time, (“UCC”). “SBA” means the Small Business Administration, an Agency of the U.S. Government.

 

2.GRANT OF SECURITY INTEREST.

 

For value received, the Borrower grants to the Secured Party a security interest in the property described below in paragraph 4 (the “Collateral”).

 

3.OBLIGATIONS SECURED.

 

This Agreement secures the payment and performance of: (a) all obligations under a Note dated 05.14.2020, made by Quest Patent Research Corporation , made payable to Secured Lender, in the amount of $150,000.00 (“Note”), including all costs and expenses (including reasonable attorney’s fees), incurred by Secured Party in the disbursement, administration and collection of the loan evidenced by the Note; (b) all costs and expenses (including reasonable attorney’s fees), incurred by Secured Party in the protection, maintenance and enforcement of the security interest hereby granted; (c) all obligations of the Borrower in any other agreement relating to the Note; and (d) any modifications, renewals, refinancings, or extensions of the foregoing obligations.

 

4.COLLATERAL DESCRIPTION.

 

The Collateral in which this security interest is granted includes the following property that Borrower now owns or shall acquire or create immediately upon the acquisition or creation thereof: all tangible and intangible personal property, including, but not limited to: (a) inventory, (b) equipment, (c) instruments, including promissory notes (d) chattel paper, including tangible chattel paper and electronic chattel paper, (e) documents, (f) letter of credit rights, (g) accounts, including health-care insurance receivables and credit card receivables, (h) deposit accounts, (i) commercial tort claims, (j) general intangibles, including payment intangibles and software and (k) as-extracted collateral as such terms may from time to time be defined in the Uniform Commercial Code. The security interest Borrower grants includes all accessions, attachments, accessories, parts, supplies and replacements for the Collateral, all products, proceeds and collections thereof and all records and data relating thereto.

 

 

 

SBA Form 1059 (09-19) Previous Editions are obsolete.

 

 

 

DocuSign Envelope ID: C8907BDC-4F3B-47B6-B4A3-198EB576CE74

 

SBA Loan #6317357403

Doc # L-01-0233279-01

 

Application #3300070808

 

5.RESTRICTIONS ON COLLATERAL TRANSFER.

 

Borrower will not sell, lease, license or otherwise transfer (including by granting security interests, liens, or other encumbrances in) all or any part of the Collateral or Borrower’s interest in the Collateral without Secured Party’s written or electronically communicated approval, except that Borrower may sell inventory in the ordinary course of business on customary terms. Borrower may collect and use amounts due on accounts and other rights to payment arising or created in the ordinary course of business, until notified otherwise by Secured Party in writing or by electronic communication.

 

6.MAINTENANCE AND LOCATION OF COLLATERAL; INSPECTION; INSURANCE.

 

Borrower must promptly notify Secured Party by written or electronic communication of any change in location of the Collateral, specifying the new location. Borrower hereby grants to Secured Party the right to inspect the Collateral at all reasonable times and upon reasonable notice. Borrower must: (a) maintain the Collateral in good condition; (b) pay promptly all taxes, judgments, or charges of any kind levied or assessed thereon; (c) keep current all rent or mortgage payments due, if any, on premises where the Collateral is located; and (d) maintain hazard insurance on the Collateral, with an insurance company and in an amount approved by Secured Party (but in no event less than the replacement cost of that Collateral), and including such terms as Secured Party may require including a Lender’s Loss Payable Clause in favor of Secured Party. Borrower hereby assigns to Secured Party any proceeds of such policies and all unearned premiums thereon and authorizes and empowers Secured Party to collect such sums and to execute and endorse in Borrower’s name all proofs of loss, drafts, checks and any other documents necessary for Secured Party to obtain such payments.

 

7.CHANGES TO BORROWER’S LEGAL STRUCTURE, PLACE OF BUSINESS, JURISDICTION OF ORGANIZATION, OR NAME.

 

Borrower must notify Secured Party by written or electronic communication not less than 30 days before taking any of the following actions: (a) changing or reorganizing the type of organization or form under which it does business; (b) moving, changing its place of business or adding a place of business; (c) changing its jurisdiction of organization; or (d) changing its name. Borrower will pay for the preparation and filing of all documents Secured Party deems necessary to maintain, perfect and continue the perfection of Secured Party’s security interest in the event of any such change.

 

8.PERFECTION OF SECURITY INTEREST.

 

Borrower consents, without further notice, to Secured Party’s filing or recording of any documents necessary to perfect, continue, amend or terminate its security interest. Upon request of Secured Party, Borrower must sign or otherwise authenticate all documents that Secured Party deems necessary at any time to allow Secured Party to acquire, perfect, continue or amend its security interest in the Collateral. Borrower will pay the filing and recording costs of any documents relating to Secured Party’s security interest. Borrower ratifies all previous filings and recordings, including financing statements and notations on certificates of title. Borrower will cooperate with Secured Party in obtaining a Control Agreement satisfactory to Secured Party with respect to any Deposit Accounts or Investment Property, or in otherwise obtaining control or possession of that or any other Collateral.

 

 

 

SBA Form 1059 (09-19) Previous Editions are obsolete.

 

 

 

DocuSign Envelope ID: C8907BDC-4F3B-47B6-B4A3-198EB576CE74

 

SBA Loan #6317357403

Doc # L-01-0233279-01

 

Application #3300070808

 

9.DEFAULT.

 

Borrower is in default under this Agreement if: (a) Borrower fails to pay, perform or otherwise comply with any provision of this Agreement; (b) Borrower makes any materially false representation, warranty or certification in, or in connection with, this Agreement, the Note, or any other agreement related to the Note or this Agreement; (c) another secured party or judgment creditor exercises its rights against the Collateral; or (d) an event defined as a “default” under the Obligations occurs. In the event of default and if Secured Party requests, Borrower must assemble and make available all Collateral at a place and time designated by Secured Party. Upon default and at any time thereafter, Secured Party may declare all Obligations secured hereby immediately due and payable, and, in its sole discretion, may proceed to enforce payment of same and exercise any of the rights and remedies available to a secured party by law including those available to it under Article 9 of the UCC that is in effect in the jurisdiction where Borrower or the Collateral is located. Unless otherwise required under applicable law, Secured Party has no obligation to clean or otherwise prepare the Collateral for sale or other disposition and Borrower waives any right it may have to require Secured Party to enforce the security interest or payment or performance of the Obligations against any other person.

 

10.FEDERAL RIGHTS.

 

When SBA is the holder of the Note, this Agreement will be construed and enforced under federal law, including SBA regulations. Secured Party or SBA may use state or local procedures for filing papers, recording documents, giving notice, enforcing security interests or liens, and for any other purposes. By using such procedures, SBA does not waive any federal immunity from state or local control, penalty, tax or liability. As to this Agreement, Borrower may not claim or assert any local or state law against SBA to deny any obligation, defeat any claim of SBA, or preempt federal law.

 

11.GOVERNING LAW.

 

Unless SBA is the holder of the Note, in which case federal law will govern, Borrower and Secured Party agree that this Agreement will be governed by the laws of the jurisdiction where the Borrower is located, including the UCC as in effect in such jurisdiction and without reference to its conflicts of laws principles.

 

12.SECURED PARTY RIGHTS.

 

All rights conferred in this Agreement on Secured Party are in addition to those granted to it by law, and all rights are cumulative and may be exercised simultaneously. Failure of Secured Party to enforce any rights or remedies will not constitute an estoppel or waiver of Secured Party’s ability to exercise such rights or remedies. Unless otherwise required under applicable law, Secured Party is not liable for any loss or damage to Collateral in its possession or under its control, nor will such loss or damage reduce or discharge the Obligations that are due, even if Secured Party’s actions or inactions caused or in any way contributed to such loss or damage.

 

13.SEVERABILITY.

 

If any provision of this Agreement is unenforceable, all other provisions remain in effect.

 

 

 

SBA Form 1059 (09-19) Previous Editions are obsolete.

 

 

 

DocuSign Envelope ID: C8907BDC-4F3B-47B6-B4A3-198EB576CE74

 

SBA Loan #6317357403

Doc # L-01-0233279-01

 

Application #3300070808

 

14.BORROWER CERTIFICATIONS.

 

Borrower certifies that: (a) its Name (or Names) as stated above is correct; (b) all Collateral is owned or titled in the Borrower’s name and not in the name of any other organization or individual; (c) Borrower has the legal authority to grant the security interest in the Collateral; (d) Borrower’s ownership in or title to the Collateral is free of all adverse claims, liens, or security interests (unless expressly permitted by Secured Party); (e) none of the Obligations are or will be primarily for personal, family or household purposes; (f) none of the Collateral is or will be used, or has been or will be bought primarily for personal, family or household purposes; (g) Borrower has read and understands the meaning and effect of all terms of this Agreement.

 

15.BORROWER NAME(S) AND SIGNATURE(S).

 

By signing or otherwise authenticating below, each individual and each organization becomes jointly and severally obligated as a Borrower under this Agreement.

 

 

  Quest Patent Research Corporation  
     
  /s/ Jon C. Scahill Date: 5/14/2020
  Jon C. Scahill, Owner/Officer  

 

 

 

SBA Form 1059 (09-19) Previous Editions are obsolete.

 

EX-31.1 3 f10q0920ex31-1_questpatent.htm CERTIFICATION

Exhibit 31.1

 

CERTIFICATION OF PRINCIPAL EXECUTIVE AND FINANCIAL OFFICER
PURSUANT TO SECTION 302 OF THE
SARBANES-OXLEY ACT OF 2002

 

I, Jon C. Scahill, certify that:

 

1. I have reviewed this quarterly report on Form 10-Q of Quest Patent Research Corporation;

 

2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

 

3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

 

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;

 

b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

c)evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;

 

d)disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting;

 

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent function):

 

a)all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant’s ability to record, process, summarize and report financial data and have identified for the registrant’s auditors any material weaknesses in internal controls; and

 

b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls over financial reporting.

 

Dated: November 16, 2020 By: /s/ Jon C. Scahill
    Chief Executive Officer and
Acting Chief Financial Officer
    (Principal Executive and Accounting Officer)
EX-32.1 4 f10q0920ex32-1_questpatent.htm CERTIFICATION

Exhibit 32.1

 

CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Quarterly Report of Quest Patent Research Corporation (the “Company”) on Form 10-Q for the period ended September 30, 2020 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Jon C. Scahill, chief executive officer and acting chief financial officer of the Company, certify, pursuant to 18 U.S.C. section 1350 of the Sarbanes-Oxley Act of 2002, that:

 

(1)The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

Dated: November 16, 2020 By: /s/ Jon C. Scahill
    Jon C. Scahill
    Chief Executive Officer and
Acting Chief Financial Officer
    (Principal Executive and Accounting Officer)
GRAPHIC 5 ex10-1_001.jpg GRAPHIC begin 644 ex10-1_001.jpg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end EX-101.INS 6 qprc-20200930.xml XBRL INSTANCE FILE 0000824416 2020-01-01 2020-09-30 0000824416 2018-12-31 0000824416 2020-09-30 0000824416 us-gaap:PatentsMember 2020-09-30 0000824416 us-gaap:EmployeeStockOptionMember 2020-01-01 2020-09-30 0000824416 qprc:WynnTechnologiesMember 2020-01-01 2020-09-30 0000824416 qprc:QuestPackagingSolutionsCorporationMember 2020-09-30 0000824416 qprc:UnitedWirelessHoldingsMember 2020-01-01 2020-09-30 0000824416 us-gaap:FairValueInputsLevel3Member 2020-09-30 0000824416 us-gaap:FairValueInputsLevel1Member 2020-09-30 0000824416 us-gaap:FairValueInputsLevel2Member 2020-09-30 0000824416 us-gaap:FairValueInputsLevel3Member 2020-01-01 2020-09-30 0000824416 us-gaap:EmployeeStockOptionMember 2020-09-30 0000824416 us-gaap:PatentsMember 2020-01-01 2020-09-30 0000824416 us-gaap:PatentsMember srt:MaximumMember 2020-01-01 2020-09-30 0000824416 us-gaap:PatentsMember srt:MinimumMember 2020-01-01 2020-09-30 0000824416 srt:ChiefExecutiveOfficerMember 2014-11-29 2014-11-30 0000824416 srt:ChiefExecutiveOfficerMember 2016-06-01 2016-06-30 0000824416 srt:ChiefExecutiveOfficerMember 2016-08-01 2016-08-31 0000824416 us-gaap:CommonStockMember 2018-12-31 0000824416 us-gaap:CommonStockMember 2020-09-30 0000824416 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0000824416 us-gaap:AdditionalPaidInCapitalMember 2020-09-30 0000824416 us-gaap:RetainedEarningsMember 2018-12-31 0000824416 us-gaap:RetainedEarningsMember 2020-09-30 0000824416 us-gaap:NoncontrollingInterestMember 2018-12-31 0000824416 us-gaap:NoncontrollingInterestMember 2020-09-30 0000824416 qprc:CXTSystemsIncMember 2020-01-01 2020-09-30 0000824416 qprc:MREDIncMember 2020-01-01 2020-09-30 0000824416 2018-09-30 0000824416 srt:MinimumMember 2019-01-01 2019-12-31 0000824416 srt:MaximumMember 2019-01-01 2019-12-31 0000824416 2019-01-01 2019-12-31 0000824416 us-gaap:EmployeeStockOptionMember 2019-01-01 2019-12-31 0000824416 2019-07-01 2019-09-30 0000824416 2019-09-30 0000824416 us-gaap:CommonStockMember 2019-07-01 2019-09-30 0000824416 us-gaap:CommonStockMember 2019-09-30 0000824416 us-gaap:AdditionalPaidInCapitalMember 2019-07-01 2019-09-30 0000824416 us-gaap:AdditionalPaidInCapitalMember 2019-09-30 0000824416 us-gaap:RetainedEarningsMember 2019-07-01 2019-09-30 0000824416 us-gaap:RetainedEarningsMember 2019-09-30 0000824416 us-gaap:NoncontrollingInterestMember 2019-07-01 2019-09-30 0000824416 us-gaap:NoncontrollingInterestMember 2019-09-30 0000824416 2019-01-01 2019-09-30 0000824416 qprc:QuestNettechCorporationMember 2020-09-30 0000824416 qprc:CXTSystemsIncMember 2020-09-30 0000824416 qprc:SecuritiesPurchaseAgreementMember 2020-01-01 2020-09-30 0000824416 qprc:WynnTechnologiesMember 2019-04-01 2019-04-11 0000824416 us-gaap:CommonStockMember 2019-03-31 0000824416 us-gaap:AdditionalPaidInCapitalMember 2019-03-31 0000824416 us-gaap:RetainedEarningsMember 2019-03-31 0000824416 us-gaap:NoncontrollingInterestMember 2019-03-31 0000824416 2019-03-31 0000824416 us-gaap:CommonStockMember 2019-04-01 2019-06-30 0000824416 us-gaap:AdditionalPaidInCapitalMember 2019-04-01 2019-06-30 0000824416 us-gaap:RetainedEarningsMember 2019-04-01 2019-06-30 0000824416 us-gaap:NoncontrollingInterestMember 2019-04-01 2019-06-30 0000824416 2019-04-01 2019-06-30 0000824416 qprc:UnitedWirelessHoldingsMember 2019-01-01 2019-12-31 0000824416 qprc:MREDIncMember 2020-09-30 0000824416 us-gaap:PatentsMember srt:MinimumMember 2019-01-01 2019-12-31 0000824416 us-gaap:PatentsMember srt:MaximumMember 2019-01-01 2019-12-31 0000824416 qprc:SecuritiesPurchaseAgreementMember qprc:UnitedWirelessHoldingsMember 2015-10-22 0000824416 2019-12-31 0000824416 us-gaap:PatentsMember 2019-12-31 0000824416 us-gaap:CommonStockMember 2019-12-31 0000824416 us-gaap:AdditionalPaidInCapitalMember 2019-12-31 0000824416 us-gaap:RetainedEarningsMember 2019-12-31 0000824416 us-gaap:NoncontrollingInterestMember 2019-12-31 0000824416 us-gaap:FairValueInputsLevel1Member 2019-12-31 0000824416 us-gaap:FairValueInputsLevel2Member 2019-12-31 0000824416 us-gaap:FairValueInputsLevel3Member 2019-12-31 0000824416 us-gaap:EmployeeStockOptionMember 2019-12-31 0000824416 2020-07-01 2020-09-30 0000824416 qprc:PaycheckProtectionProgramMember 2020-09-30 0000824416 qprc:PaycheckProtectionProgramMember 2020-01-01 2020-09-30 0000824416 qprc:USSmallBusinessAssociationMember 2020-01-01 2020-09-30 0000824416 qprc:USSmallBusinessAssociationMember 2020-09-30 0000824416 qprc:MREDIncMember 2020-05-05 2020-05-31 0000824416 2018-01-01 2018-12-31 0000824416 2015-10-31 0000824416 2019-05-05 2019-05-29 0000824416 2020-05-31 0000824416 2020-05-11 0000824416 us-gaap:CommonStockMember 2020-01-01 2020-03-31 0000824416 us-gaap:CommonStockMember 2020-03-31 0000824416 us-gaap:AdditionalPaidInCapitalMember 2020-01-01 2020-03-31 0000824416 us-gaap:AdditionalPaidInCapitalMember 2020-03-31 0000824416 us-gaap:RetainedEarningsMember 2020-01-01 2020-03-31 0000824416 us-gaap:RetainedEarningsMember 2020-03-31 0000824416 us-gaap:NoncontrollingInterestMember 2020-01-01 2020-03-31 0000824416 us-gaap:NoncontrollingInterestMember 2020-03-31 0000824416 2020-01-01 2020-03-31 0000824416 2020-03-31 0000824416 us-gaap:CommonStockMember 2020-07-01 2020-09-30 0000824416 us-gaap:AdditionalPaidInCapitalMember 2020-07-01 2020-09-30 0000824416 us-gaap:RetainedEarningsMember 2020-07-01 2020-09-30 0000824416 us-gaap:NoncontrollingInterestMember 2020-07-01 2020-09-30 0000824416 us-gaap:CommonStockMember 2019-01-01 2019-03-31 0000824416 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-03-31 0000824416 us-gaap:RetainedEarningsMember 2019-01-01 2019-03-31 0000824416 us-gaap:NoncontrollingInterestMember 2019-01-01 2019-03-31 0000824416 2019-01-01 2019-03-31 0000824416 2020-11-16 0000824416 us-gaap:CommonStockMember 2020-04-01 2020-06-30 0000824416 us-gaap:CommonStockMember 2020-06-30 0000824416 us-gaap:CommonStockMember 2019-06-30 0000824416 us-gaap:AdditionalPaidInCapitalMember 2020-04-01 2020-06-30 0000824416 us-gaap:AdditionalPaidInCapitalMember 2020-06-30 0000824416 us-gaap:AdditionalPaidInCapitalMember 2019-06-30 0000824416 us-gaap:RetainedEarningsMember 2020-04-01 2020-06-30 0000824416 us-gaap:RetainedEarningsMember 2020-06-30 0000824416 us-gaap:RetainedEarningsMember 2019-06-30 0000824416 us-gaap:NoncontrollingInterestMember 2020-04-01 2020-06-30 0000824416 us-gaap:NoncontrollingInterestMember 2020-06-30 0000824416 us-gaap:NoncontrollingInterestMember 2019-06-30 0000824416 2020-04-01 2020-06-30 0000824416 2020-06-30 0000824416 2019-06-30 0000824416 us-gaap:SubsequentEventMember 2020-09-25 2020-10-01 0000824416 us-gaap:SubsequentEventMember 2020-09-25 2020-10-02 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure QUEST PATENT RESEARCH CORP 0000824416 false --12-31 10-Q 2020-09-30 Q3 2020 Non-accelerated Filer true false 975000 975000 569386 569386 10000000000 10000000000 NY 33-18099 Yes false Yes -4538861 -6534125 11491 11491 14107782 14427782 -18659892 -20973631 1758 233 -5724139 11491 14107782 -19843612 200 11491 14107782 -19199701 1499 -5078929 -5849156 11491 14107782 -19968668 239 11491 14107782 -20651466 239 -6531954 11491 11491 14107782 14107782 -21023252 -19698731 239 -147 -6903740 -5579605 0.00003 0.00003 10000000 10000000 0.00003 0.00003 383038334 383038334 383038334 383038334 -1004969 -144534 -144881 347 -1185278 -499030 -1646 -500676 49615 -682798 -682798 49621 -6 -539809 -259 -540068 -371786 -371786 155019 155019 282503 282503 0.10 4672810 4672810 600000 1125000 194386 375000 A wholly owned subsidiary, and IV 34/37 pursuant to which at closing CXT acquired by assignment all right, title, and interest in a portfolio of fourteen United States patents, five foreign patents and six related applications (the “CXT Portfolio”). Under the agreement, CXT will distribute 50% of net recoveries, as defined, to IV 34/37. CXT advanced $25,000 to IV 34/37 at closing, and agreed that in the event that, on December 31, 2018, December 31, 2019 and December 31, 2020, cumulative distributions to IV 34/37 total less than $100,000, $375,000 and $975,000, respectively, CXT shall pay the difference necessary to achieve the applicable minimum payment amount within ten days after the applicable date; with any advances being credited toward future distributions to IV 34/36. A wholly owned subsidiary and Intellectual Ventures Assets 113 LLC and Intellectual Ventures Assets 108 LLC ("IV 113/108") pursuant to which M-RED paid IV 113/108 $75,000 and IV 113/108 transferred to M-RED all right, title and interest in a portfolio of sixty United States patents and eight foreign patents (the "M-RED Portfolio"). Under the agreement, M-RED is to distribute 50% of net proceeds, as defined, to IV 113/108, as long as the Company generates revenue from the M-RED Portfolio. The agreement with IV 113/108 provides that if, on September 30, 2020, September 30, 2021 and September 30, 2022, cumulative distributions to IV 113/108 total less than $450,000, $975,000 and $1,575,000, respectively, M-RED shall pay the difference between such cumulative amounts and the amount paid to IV 113/108 within ten days after the applicable date. The $75,000 initial payment is treated as an advance against the first distributions of net proceeds payable to IV 113/108. 395459 0.085 5690000 5595000 509811 509811 713073 713073 4467116 4372116 2127530 1617762 P6Y4M17D P6Y6M0D 135350 549345 495742 323070 836079 2339586 1315000 1725000 2134981 2011883 0.1445 0.0935 0.096 0.125 Intangible assets are comprised of patents with estimated useful lives. The intangible assets at June 30, 2020 represent: ● patents acquired in October 2015 for a purchase price of $3,000,000, the useful lives of the patents, at the date of purchase, was 6-10 years; ● patents acquired in July 2017 pursuant to an obligation to distribute 50% of net revenues to IV 34/37, against which $25,000 was advanced at closing and provided that in the event that, on December 31, 2018, December 31, 2019 and December 31, 2020, cumulative distributions of 50% of net revenues to IV 34/37 total less than $100,000, $375,000 and $975,000, respectively, CXT shall pay the difference necessary to achieve the applicable minimum payment amount within ten days after the applicable date; with any advances being credited toward future distributions to IV 34/36; the useful lives of the patents, at the date of acquisition, was 5-6 years; ● patents (which were fully depreciated at the date of acquisition) acquired in January 2018 pursuant to an agreement with to Intellectual Ventures Assets 62 LLC and Intellectual Ventures Assets 71 LLC "(IV 62/71"), pursuant to which CXT has an obligation to distribute 50% of net revenues to IV 62/71 against which CXT advanced $10,000 at closing; ● patents acquired in January 2018 by Photonic Imaging Solutions Inc. ("PIS") from Intellectual Ventures Assets 64 LLC ("IV 64") pursuant to which PIS is to pay IV 64 (a) 70% of the first $1,500,000 of net revenue, (b) 30% of the next $1,500,000 of net revenue and (c) 50% of net revenue in excess of $3,000,000, against which PIS advanced $10,000 at closing; and ● patents acquired in March 2019 by M-Red Inc. ("M-Red") from Intellectual Ventures Assets 113 LLC and Intellectual Ventures 108 LLC ("IV 113/108") pursuant to which M-Red is obligated to distribute 50% of net revenues to IV 113/108, against which $75,000 was advanced at closing and provided that in the event that, on September 30, 2020, September 30, 2021 and September 30, 2022, cumulative distributions of 50% of net revenues to IV 113/108 total less than $450,000, $975,000 and $1,575,000, respectively, M-Red shall pay the difference necessary to achieve the applicable minimum payment amount within ten days after the applicable date; with any advances being credited toward future distributions to IV 113/108; the useful lives of the patents, at the date of acquisition, was approximately nine years; and ● patents (which were fully depreciated at the date of acquisition) acquired in May 2020 for a purchase price of $95,000 pursuant to an agreement with Texas Technology Ventures 2, LLP ("TTV"), pursuant to which of the Company retains the first $230,000 of net proceeds, as defined in the agreement, after which the company has an obligation to distribute 50% of net proceeds to TTV. 509768 529486 0.075 0.15 The Company agreed to employ him as president and chief executive officer for a term of three years, commencing January 1, 2014, and continuing on a year-to-year basis unless terminated by either party on not less than 90 days’ notice prior to the expiration of the initial term or any one-year extension. 252000 300000 383038334 383038334 383038334 383038334 383038334 383038334 383038334 383038334 130000 20000 P3Y P2Y -6 347 -1558 -6 0.90 0.65 7520000 65000 0 225 0 P10Y P1Y The sole asset of Wynn Technologies, Inc. was US Patent No. RE38,137E. Wynn Technologies, Inc. could not transfer, assign, sell, hypothecate or otherwise encumber US Patent No. RE38,137E without the express written consent of the owner of 35% of Wynn Technologies, Inc., unless, as of the date of such transfer, assignment, sale, hypothecation or other encumbrance, the owner had received a total of at least $250,000. US Patent No. RE38,137E expired on September 28, 2015. The Company accounted for its 65% interest in Wynn Technologies, Inc. under the equity method whereby the investment accounts were increased for contributions by the Company plus its 60% share of income pursuant to the contractual agreement which provides that the holder of 35% of the stock of Wynn Technologies, Inc. retained 40% of the income, and reduced for distributions and its 60% share of losses incurred, respectively, with the restriction whereby the account balances cannot go below zero. Quest NetTech Corporation merged with Wynn Technologies, Inc. with Quest NetTech Corporation being the surviving entity. Pursuant to the merger agreement, we issued a 35% interest in Quest NetTech Corporation to the former 35% stockholder of Wynn Technologies, Inc. 2.61 2.07 4.26 0.0020 0.0024 0.00 0.00 P1Y9M0D P4Y8M12D 595000 595000 0 595000 -275000 0 595000 50000000 50000000 0.03 0.03 320 115 350 115 0.10 0.10 0.10 383038334 <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><font style="font: 10pt Times New Roman, Times, Serif"><u>Use of Estimates</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In preparing financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenue and expenses during the reporting period. Actual results could differ from those estimates.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><font style="font: 10pt Times New Roman, Times, Serif"><u>Intangible Assets</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Intangible assets consist of patents which are amortized using the straight-line method over their estimated useful lives or statutory lives whichever is shorter and are reviewed for impairment upon any triggering event that may give rise to the assets ultimate recoverability as prescribed under the guidance related to impairment of long-lived assets. Costs incurred to acquire patents, including legal costs, are also capitalized as long-lived assets and amortized on a straight-line basis with the associated patent.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Patents include the cost of patents or patent rights (hereinafter, collectively "patents") acquired from third-parties or acquired in connection with business combinations. Patent acquisition costs are amortized utilizing the straight-line method over their remaining economic useful lives, ranging from one to ten years. Certain patent application and prosecution costs incurred to secure additional patent claims that, based on management's estimates are deemed to be recoverable, are capitalized and amortized over the remaining estimated economic useful life of the related patent portfolio.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><font style="font: 10pt Times New Roman, Times, Serif"><u>Derivative Financial Instruments</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company evaluates the embedded conversion feature within its convertible debt instruments under ASC 815-15 and ASC 815-40 to determine if the conversion feature meets the definition of a liability and, if so, whether to bifurcate the conversion feature and account for it as a separate derivative liability. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based derivative financial instruments, the Company uses a Black Scholes model, in accordance with ASC 815-15 "Derivative and Hedging" to value the derivative instruments at inception and on subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether net-cash settlement of the derivative instrument could be required within 12 months after the balance sheet date.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><font style="font: 10pt Times New Roman, Times, Serif"><u>Fair value of financial instruments</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. A fair value hierarchy is used which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. See Note 4 for information about derivative liabilities.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The fair value hierarchy based on the three levels of inputs that may be used to measure fair value are as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify; width: 0.6in"><font style="font: 10pt Times New Roman, Times, Serif"><i>Level 1 &#8211;</i></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Quoted prices in active markets for identical assets or liabilities.</font></td></tr> </table> <p style="text-align: justify; margin-top: 0; margin-bottom: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify; width: 0.6in"><font style="font: 10pt Times New Roman, Times, Serif"><i>Level 2</i> &#8211; </font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.</font></td></tr> </table> <p style="text-align: justify; margin-top: 0; margin-bottom: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify; width: 0.6in"><font style="font: 10pt Times New Roman, Times, Serif"><i>Level 3 &#8211; </i></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Unobservable inputs that are supported by little or no market activity and that are financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation.</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The carrying value reflected in the consolidated balance sheets for cash and cash equivalents, accounts receivable, accounts payable and accrued expenses and short-term borrowings approximate fair value due to the short-term nature of these items.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><font style="font: 10pt Times New Roman, Times, Serif"><u>Income Tax</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company records revenues on a gross basis, before deduction for income taxes. The Company incurred foreign income tax expenses of approximately $0 and $65,000 for the three and nine months ended September 30, 2020, respectively, and approximately $0 and approximately $225 for the three and nine months ended September 30, 2019, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><font style="font: 10pt Times New Roman, Times, Serif"><u>Inventor/Former Owner Royalties and Contingent Legal/Litigation Finance Expenses</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In connection with the investment in certain patents and patent rights, certain of the Company's operating subsidiaries may execute related agreements which grant to the inventors and/or former owners of the respective patents or patent rights, the right to receive a percentage of future net revenues (as defined in the respective agreements) generated as a result of licensing and otherwise enforcing the respective patents or patent portfolios.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company's operating subsidiaries may retain the services of law firms that specialize in patent licensing and enforcement and patent law in connection with their licensing and enforcement activities. These law firms may be retained on a contingent fee basis whereby such law firms are paid a percentage of any negotiated fees, settlements or judgments awarded.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company's operating subsidiaries may engage with funding sources that provide financing for patent licensing and enforcement. These litigation finance firms may be engaged on a non-recourse basis whereby such litigation finance firms are paid a percentage of any negotiated fees, settlements or judgments awarded in exchange for providing funding for legal fees and out of pocket expenses incurred as a result of the licensing and enforcement activities.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The economic terms of the inventor agreements, operating agreements, contingent legal fee arrangements and litigation financing agreements associated with the patent portfolios owned or controlled by the Company's operating subsidiaries, if any, including royalty rates, contingent fee rates and other terms, vary across the patent portfolios owned or controlled by such operating subsidiaries. Inventor/former owner royalties, payments to non-controlling interests, contingent legal fees expenses and litigation finance expenses fluctuate period to period, based on the amount of revenues recognized each period, the terms and conditions of revenue agreements executed each period and the mix of specific patent portfolios with varying economic terms and obligations generating revenues each period. Inventor/former owner royalties, contingent legal fees expenses and litigation finance expenses will continue to fluctuate and may continue to vary significantly period to period, based primarily on these factors.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><font style="font: 10pt Times New Roman, Times, Serif"><u>Revenue Recognition</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company recognizes revenue in accordance with ASC Topic 606, "Revenue from Contracts with Customers". Revenue is recognized when control of the promised goods or services is transferred to customers at an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. Under Topic 606, revenue is recognized when there is a contract which has commercial substance which is approved by both parties and identifies the rights of the parties and the payment terms. The Company adopted Topic 606 as of January 1, 2018 using the modified retrospective transition method, with no impact on the consolidated financial position or results of operations.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><font style="font: 10pt Times New Roman, Times, Serif"><u>Recent Accounting Pronouncements</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Management does not believe that there are any recently issued, but not effective, accounting standards which, if currently adopted, would have a material effect on the Company's financial statements.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Going Concern</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">As shown in the accompanying financial statements, the Company has an accumulated deficit of approximately $20,974,000 and negative working capital of approximately $7,520,000 as of September 30, 2020. Because of the Company's continuing losses, its working capital deficiency, the uncertainty of future revenue, the Company's obligations to Intellectual Ventures and Intelligent Partners, as transferee of United Wireless, the Company's low stock price and the absence of a trading market in its common stock, the ability of the Company to raise funds in equity market or from lenders is severely impaired. These conditions, together with the effects of the COVID-19 pandemic and the steps taken by the states to slow the spread of the virus and its effect on its business raise substantial doubt as to the Company's ability to continue as a going concern. Although the Company may seek to raise funds and to obtain third party funding for litigation to enforce its intellectual property rights, the availability of such funds, particularly in view of the COVID-19 pandemic, is uncertain. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. The Company is in default on payment of principal and interest on its convertible notes due September 30, 2020 in the principal amount of $4,672,812. Accrued interest on the notes was $117,780. The Company has obtained a standstill agreement of the noteholder until November 13, 2020. In connection with the standstill agreement, the Company paid the $117,780 interest accrued at September 30, 2020, and, in connection with an extension of the standstill to November 13, 2020, the Company paid additional interest through the standstill period of $20,000. Although the Company is in negotiations with the noteholder with respect to a restructure of the note and other payment agreements between the noteholder and the Company, it can give no assurance that the negotiations will result in a revised agreement. The failure of the Company to negotiate an acceptable restructure of the agreement could materially and adversely affect the ability of the Company to continue in business, and it may be necessary for the Company to seek protection under the Bankruptcy Act.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>NOTE 3 &#8211; SHORT-TERM DEBT AND LONG-TERM LIABILITIES</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The following table shows the Company's short-term and long-term debt at September 30, 2020 and December 31, 2019.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center">September&#160;30,</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center">December&#160;31,</td><td style="font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Short-term debt:</td><td>&#160;</td> <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; text-indent: 0in">Loans payable &#8211; third party&#8239;</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">147,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">147,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0in">Purchase price of patents &#8211; current portion</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">975,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">569,386</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt; text-indent: 0in">Net short-term debt</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">1,122,000</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">716,386</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0in">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0in">Loan payable &#8211; related party</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0in">Gross</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4,672,810</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4,672,810</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0in">Accrued Interest</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">117,780</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">117,780</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: 0in">Unamortized discount</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(189,705</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt; text-indent: 0in">Net loans payable &#8211; related party</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">4,790,590</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">4,600,885</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0in">Long-term liabilities:</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0in">Loans payable - SBA</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0in">Gross</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">170,832</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: 0in">Accrued Interest</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,142</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt; text-indent: 0in">Net loans payable SBA</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">172,974</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0in">Purchase price of patents</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0in">Gross</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1,315,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1,725,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: 0in">Unamortized discount</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(155,019</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(282,503</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt; text-indent: 0in">Net purchase price of patents &#8211; long-term</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,159,981</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,442,497</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0in">Contingent funding liabilities:</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: 0in">Gross</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">20,378</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">20,378</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt; text-indent: 0in">Net contingent funding liabilities</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">20,378</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">20,378</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Loan payables:</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The loan payable &#8211; third party represents unsecured demand loans made by former officers and directors, who are unrelated third parties at September 30, 2020, and December 31, 2019, in the amount of $147,000. The loans are payable on demand plus accrued interest at 10% per annum. These third parties are also stockholders, but their stockholdings are not significant.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The loan payable &#8211; related party at September 30, 2020 represents the principal amount of the Company's 10% secured convertible note to Intelligent Partners, LLC ("Intelligent Partners") as transferee of the secured convertible notes issued to United Wireless Holdings, Inc. ("United Wireless"), in the amount of $4,672,810 pursuant to securities purchase agreement dated October 22, 2015 between the Company and United Wireless, as more fully described in the Company's financial statements for the year ended December 31, 2019. The notes payable to Intelligent Partners, as transferee of United Wireless, are classified as a current liability as of September 30, 2020 and December 31, 2019. The notes became due by their terms on September 30, 2020, and the Company did not make any payment on account of principal of and interest on the notes on that date. See Note 10 for information with respect to current status of the notes payable to Intelligent Partners.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Interest on all notes issued pursuant to the securities purchase agreement, accrued through September 30, 2018, with accrued interest being added to principal on September 30, 2016, 2017 and 2018. On September 30, 2018, approximately $395,459 of accrued interest was added to principal. Since September 30, 2018, the Company has been required to pay interest quarterly. For the three and nine months ended September 30, 2020, the Company paid approximately $117,000 and 350,000 in interest, respectively, on these loans.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Because of its right to elect a director of the Company, United Wireless is treated as a related party. Prior to the securities purchase agreement with United Wireless, the Company had no relationship with United Wireless.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Long term liabilities</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The loans payable-SBA at September 30, 2020 represents:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">An unsecured loan from JPMorgan Chase Bank, N.A. in the aggregate amount of $20,832, pursuant to the Paycheck Protection Program (the "PPP") under Division A, Title I of the Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, which was enacted March 27, 2020. The loan, which was taken down on April 23, 2020, matures on April 23, 2022 and bears interest at a rate of 0.98% per annum, with interest payable monthly commencing on November 23, 2020. The loan may be prepaid by the Company at any time prior to maturity with no prepayment penalties. Funds from the loan may only be used for payroll costs, costs used to continue group health care benefits, mortgage payments, rent, utilities, and interest on other debt obligations incurred before February 15, 2020. The Company has used the entire loan amount for qualifying expenses. Under the terms of the PPP, certain amounts of the loan may be forgiven if they are used for qualifying expenses as described in the CARES Act.</font></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">A secured Economic Injury Disaster Loan from the U.S. Small Business Association ("SBA") in the aggregate amount of $150,000, pursuant to Section 7(b) of the Small Business Act as part of the COVID-19 relief effort. The Company's obligations on the loan are set forth in the Company's note dated May 14, 2020 which matures on May 14, 2050 and bears interest at a rate of 3.75% per annum, payable monthly commencing on May 14, 2021. The Note may be prepaid by the Company at any time prior to maturity with no prepayment penalties. Funds from the Loan may be used solely as working capital to alleviate economic injury caused by disaster occurring in the month of January 31, 2020 and continuing thereafter and to pay Uniform Commercial Code (UCC) lien filing fees and a third-party UCC handling charge of $100 which were deducted from the loan amount stated above. In addition to the loan, as part of the COVID-19 relief effort, the Company obtained an Emergency EIDL Grant from the SBA in the amount of $1,000. The Company is not required to repay the grant.</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The purchase price of patents at September 30, 2020 represents:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">the minimum payments due under the agreement between CXT Systems, Inc. ("CXT"), a wholly owned subsidiary, and IV 34/37 pursuant to which at closing CXT acquired by assignment all right, title, and interest in a portfolio of fourteen United States patents, five foreign patents and six related applications (the "CXT Portfolio"). Under the agreement, CXT will distribute 50% of net recoveries, as defined, to IV 34/37. CXT advanced $25,000 to IV 34/37 at closing, and agreed that in the event that, on December 31, 2018, December 31, 2019 and December 31, 2020, cumulative distributions to IV 34/37 total less than $100,000, $375,000 and $975,000, respectively, CXT shall pay the difference necessary to achieve the applicable minimum payment amount within ten days after the applicable date; with any advances being credited toward future distributions to IV 34/36. As of September 30, 2020, $600,000 of the minimum future cumulative distributions were presented as short-term debt based on the payment due date. No affiliate of CXT has guaranteed the minimum payments. CXT's obligations under the agreement are secured by a security interest in the proceeds (from litigation or otherwise) from the CXT Portfolio. During the nine-months ended September 30, 2020, the Company paid the $194,386 liability that was classified as a short-term liability as of December 31, 2019.</font></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The non-current portion of minimum payments due under the agreement between M-RED Inc. ("M-RED"), a wholly owned subsidiary and Intellectual Ventures Assets 113 LLC and Intellectual Ventures Assets 108 LLC ("IV 113/108") pursuant to which M-RED paid IV 113/108 $75,000 and IV 113/108 transferred to M-RED all right, title and interest in a portfolio of sixty United States patents and eight foreign patents (the "M-RED Portfolio"). Under the agreement, M-RED is to distribute 50% of net proceeds, as defined, to IV 113/108, as long as the Company generates revenue from the M-RED Portfolio. The agreement with IV 113/108 provides that if, on September 30, 2020, September 30, 2021 and September 30, 2022, cumulative distributions to IV 113/108 total less than $450,000, $975,000 and $1,575,000, respectively, M-RED shall pay the difference between such cumulative amounts and the amount paid to IV 113/108 within ten days after the applicable date. The $75,000 initial payment is treated as an advance against the first distributions of net proceeds payable to IV 113/108. As of September 30, 2020, $1,125,000 and $375,000 of the minimum future cumulative distributions were presented as long-term and short-term debt, respectively, based on payment due dates. Neither the Company nor any of its affiliates has guaranteed the minimum payments. M-RED's obligations under the agreement with IV 113/108 are secured by a security interest in the proceeds (from litigation or otherwise) from the M-RED Portfolio. </font></td></tr> </table> <p style="margin: 0">&#160;&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The non-current portion of our obligations under the unsecured non-recourse funding agreement with a third-party funder entered into in May 2020 whereby the third-party agreed to provide acquisition funding in the amount of $95,000 for the Company's acquisition of the audio messaging portfolio. Under the funding agreement, the third party funder is entitled to a priority return of funds advanced from net proceeds. as defined, recovered until the funder has received $190,000. The Company has no other obligation to the third party and has no liability to the funder in the event that the Company does not generate net proceeds. Pursuant to ASC 470, the company recorded this monetization obligation as debt and the difference between the purchase price and total obligation as a discount to the debt and fully expensed to interest during the period.</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The contingent funding liabilities at September 30, 2020 represents:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="text-align: justify"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">the non-current portion of our obligations under the unsecured non-recourse litigation funding agreement with a third-party litigation funder entered into in December 2018 whereby the third-party agreed to provide litigation funding in the amount of $150,000 to the Company to enable the Company to support its structured licensing programs for the CMOS and M-RED portfolios. Under the funding agreement, the third party receives a priority interest in the proceeds from the programs that are payable to the Company, and the Company has no other obligation to the third party.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company's relationship with the funding source meets the criteria in ASC 470-10-25 - Sales of Future Revenues or Various Other Measures of Income ("ASC 470"), which relates to cash received from a funding source in exchange for a specified percentage or amount of revenue or other measure of income of a particular product line, business segment, trademark, patent, or contractual right for a defined period. Under this guidance, the Company recognized the fair value of its contingent obligation to the funding source, as of the acquisition date, as long-term debt in its consolidated balance sheet. This initial fair value measurement is based on the perspective of a market participant and includes significant unobservable inputs which are classified as Level 3 inputs within the fair value hierarchy and are discussed further within Note 2. At each subsequent reporting period, the Company will measure the long-term debt at fair value based on the discounted expected future cash flows over the life of the obligation. The Company's repayment obligations are contingent upon future patent licensing fee revenues generated from the licensing programs.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Under ASC 470, amounts recorded as debt shall be amortized under the interest method. The Company made an accounting policy election to utilize the prospective method when there is a change in the estimated future cash flows, whereby a new effective interest rate is determined based on the revised estimate of remaining cash flows. The new rate is the discount rate that equates the present value of the revised estimate of remaining cash flows with the carrying amount of the debt, and it will be used to recognize interest expense for the remaining periods. Under this method, the effective interest rate is not constant, and any change in expected cash flows is recognized prospectively as an adjustment to the effective yield. As of September 30, 2020, the total contingent funding liability was approximately $20,000, and the effective interest rate was approximately 8.5%. This rate represents the discount rate that equates the estimated future cash flows with the fair value of the debt and is used to compute the amount of interest to be recognized each period. Any future payments made to the funding source will decrease the long-term debt balance accordingly. For the period ended September 30, 2020, the amortization amount is deemed immaterial.</font></p></td></tr></table> <p style="margin: 0pt"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center">September&#160;30,</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center">December&#160;31,</td><td style="font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Short-term debt:</td><td>&#160;</td> <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; text-indent: 0in">Loans payable &#8211; third party&#8239;</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">147,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">147,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0in">Purchase price of patents &#8211; current portion</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">975,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">569,386</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt; text-indent: 0in">Net short-term debt</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">1,122,000</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">716,386</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0in">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0in">Loan payable &#8211; related party</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0in">Gross</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4,672,810</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4,672,810</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0in">Accrued Interest</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">117,780</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">117,780</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: 0in">Unamortized discount</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(189,705</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt; text-indent: 0in">Net loans payable &#8211; related party</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">4,790,590</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">4,600,885</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0in">Long-term liabilities:</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0in">Loans payable - SBA</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0in">Gross</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">170,832</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: 0in">Accrued Interest</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,142</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt; text-indent: 0in">Net loans payable SBA</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">172,974</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0in">Purchase price of patents</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0in">Gross</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1,315,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1,725,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: 0in">Unamortized discount</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(155,019</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(282,503</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt; text-indent: 0in">Net purchase price of patents &#8211; long-term</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,159,981</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,442,497</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0in">Contingent funding liabilities:</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: 0in">Gross</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">20,378</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">20,378</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt; text-indent: 0in">Net contingent funding liabilities</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">20,378</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">20,378</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> </table> <p style="margin: 0pt"></p> 2022-04-23 2050-05-14 20832 150000 0.0098 0.0375 The Note may be prepaid by the Company at any time prior to maturity with no prepayment penalties. Funds from the Loan may be used solely as working capital to alleviate economic injury caused by disaster occurring in the month of January 31, 2020 and continuing thereafter and to pay Uniform Commercial Code (UCC) lien filing fees and a third-party UCC handling charge of $100 which were deducted from the Loan amount stated above. In addition to the Loan, as part of the COVID-19 relief effort, the Company obtained an Emergency EIDL Grant from the SBA in the amount of $1,000. 95000 190000 150000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"><tr style="vertical-align: bottom"><td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"></td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="22" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fair Value Measurements as of</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2020</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Assets</td><td>&#160;</td> <td colspan="2" style="text-align: center">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">&#160;</td><td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">None</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Total assets</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Liabilities</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 28%; text-align: left">Option derivative liability</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">595,000</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Total liabilities</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">595,000</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr></table> <p style="margin: 0pt"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Period Ended</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td> </tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center">September&#160;30,</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center">December&#160;31,</td><td style="font-weight: bold">&#160;</td> </tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 76%; text-align: left">Volatility</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">261</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">207-426</font></td><td style="width: 1%; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Risk-free interest rate</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0.20</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0.24</td><td style="text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Expected dividends</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Expected term</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1.75-4.70</font></td><td style="text-align: left">&#160;</td> </tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center">&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">&#160;</td><td>&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted average</td><td style="font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center">September&#160;30,</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center">amortization period</td><td style="font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(years)</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Patents</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">5,690,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">5,595,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">6.50</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Less: net monetization obligations</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(509,811</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(509,811</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Imputed interest</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(713,073</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(713,073</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Subtotal</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4,467,116</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4,372,116</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Less: accumulated amortization</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,127,530</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,617,762</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt; text-align: right">&#160;</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Net value of intangible assets</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,339,586</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,754,354</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt; text-align: right">6.38</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Year ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td> <td colspan="2" style="text-align: center">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 88%; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">Remainder of 2020</font></td><td style="width: 1%; text-align: left">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">135,350</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">2021</td><td style="text-align: left">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">549,345</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">2022</td><td style="text-align: left">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">495,742</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">2023</td><td style="text-align: left">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">323,070</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">2024 and thereafter</font></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">836,079</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">Total</font></td><td style="padding-bottom: 4pt; text-align: left">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,339,586</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September&#160;30,<br /> 2020</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td> <td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December&#160;31,<br /> 2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td> </tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Current Liabilities:</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td> <td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 76%; text-align: left">Purchase price of patents, current portion</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">975,000</td><td style="width: 1%; text-align: left">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">569,386</td><td style="width: 1%; text-align: left">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Unamortized discount</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td> <td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Non-current liabilities:</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td> <td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Purchase price of patents, long term</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1,315,000</td><td style="text-align: left">&#160;</td> <td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">1,725,000</td><td style="text-align: left">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Unamortized discount</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(155,019</td><td style="text-align: left">)</td> <td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(282,503</td><td style="text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Total current and non-current</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,134,981</td><td style="text-align: left">&#160;</td> <td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,011,883</td><td style="text-align: left">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Effective interest rate of Amortized over 2-3 years</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9.35%-14.45</font></td><td style="text-align: left">%</td> <td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9.6-12.5</font></td><td style="text-align: left">%</td> </tr> </table> <p style="margin: 0pt"></p> 3000000 2339586 2754354 The funding agreement dated May 29, 2019 between the Company and the funding source, 100% of the net monetization proceeds due to the company from the audio messaging patents acquired in May 2020 will be paid to the funding source until the funding source receives $190,000. The monetization obligation, net of the $95,000 provided by the funding source, was recognized as a discount to the debt, recorded as an expense and is reflected in interest expense during the period. <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>NOTE 7 &#8211; NON-CONTROLLING INTEREST</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The following table reconciles equity attributable to the non-controlling interest related to Quest Packaging Solutions Corporation.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; font-weight: bold; text-align: left">Balance as of December 31, 2019</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">239</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Net loss income attributable to non-controlling interest</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(6</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt">Balance as of September 30, 2020</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">233</td></tr></table> <p style="margin: 0pt"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; font-weight: bold; text-align: left">Balance as of December 31, 2019</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">239</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Net loss income attributable to non-controlling interest</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(6</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt">Balance as of September 30, 2020</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">233</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> </table> <p style="margin: 0pt"></p> 350000 117000 350000 117000 190000 0.19 0 189705 2127530 1617762 5488088 640000 2002418 3404985 25274 5488088 640000 2027692 3404985 4520 150 1793 1213151 302574 945601 301853 5927557 858198 2351917 3298269 -439469 -218198 -324225 106716 275000 290000 -270000 175000 776137 216336 590828 233101 -500137 73664 -860828 -57101 -939606 -144534 -1185053 49615 65363 225 -1004963 -144881 -1183720 49621 0 0 0 0 383038334 383038334 383038334 383038334 336781 65363 225 4714406 555474 1400003 2996416 P0Y9M0D 155019 282503 4291779 5159107 2339586 2754354 1952193 2404753 9647 17180 1850667 1850375 4291779 5159107 233 239 -6534358 -5849395 -20973631 -19968668 14427782 14107782 11491 11491 10825904 11008263 172974 20378 20378 9472571 9545388 595000 281210 270185 117780 117780 4672810 4483105 147000 147000 564050 2714721 3362932 1000 1000 65363 225 1238219 166911 91879 344386 537198 -445319 177475 72346 -155614 194386 155614 171732 95000 -95000 -75000 95000 75000 -422665 408089 -84161 1235971 -7533 17467 12267 12225 -25000 292 524897 509768 388402 275000 -270000 412189 254133 350000 349500 20378 20378 20378 20378 1159981 1442497 1315000 1725000 172974 2142 170832 4790590 4600885 189705 117780 117780 4672810 4672810 1122000 716386 975000 569386 147000 147000 320000 320000 320000 20000 564000 The Company contracted with a law firm more than 10 percent owned, but not controlled, by the father-in-law of the chief executive officer. The Company's board of directors increased the chief executive officer's annual salary to $300,000, effective January 1, 2016. The chief executive officer is entitled to a bonus if the Company meets or exceeds performance criteria established by the compensation committee. In August 2016, the Company's board of directors approved annual bonus compensation equal to 30% of the amount by which ourthe Company's consolidated income before income taxes exceeds $500,000. <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><b>NOTE 10 &#8211; SUBSEQUENT EVENTS</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At September 30, 2020, promissory notes in the aggregate principal amount of $4,672,810 payable to Intelligent Partners became due. At September 30, 2020, accrued interest on the notes was $117,780. The notes became due by their terms on September 30, 2020, and the Company did not make any payment on account of principal of and interest on the notes on that date.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On October 1, 2020, the Company entered into a standstill agreement with Intelligent Partners pursuant to which:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="text-align: justify; width: 20.3pt"></td><td style="text-align: justify; width: 18pt"><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td><td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Intelligent Partners agreed that, provided that the Company pays Intelligent Partners $117,780 of accrued interest on the note by October 2, 2020, for a period commencing on October 1, 2020 until the earlier of (i) October 22, 2020 or (ii) the date of any action by any person (other than Intelligent Partners and its affiliates) relating to the assertion of a breach or default by the Company or any of its subsidiaries under any agreement to which the Company or any of its subsidiaries is a party (the "Standstill Period"), Intelligent Partners and any person acting on behalf of Intelligent Partners will forebear from taking any action to enforce any of the rights they have or may have under the Agreements between the Company and Intelligent Partners or under applicable law or otherwise in respect of or arising out of the failure by the Company to pay the principal on the notes on the maturity date thereof or as a result of any defaults or alleged defaults by the Company or any subsidiary of the Company under any of the agreement between the Company and Intelligent Partners or under any applicable law or otherwise.</font></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="text-align: justify; width: 20.3pt"></td><td style="text-align: justify; width: 18pt"><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td><td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">During the Standstill Period, the Company and Intelligent Partners will seek to negotiate a mutually agreeable restructure agreement which provides for restructure of the Company's obligations under the notes and a modification of its obligations under the Company's Agreements with Intelligent Partners.</font></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On October 1, 2020, the Company made the $117,780 payment to Intelligent Partners. Pursuant to amendments to the standstill agreement, the Standstill Period was extended to October 27, 2020, October 31, 2020 and November 13, 2020. In connection with the third extension, the Company made a payment of $20,000 in full satisfaction of any interest accrued during the Standstill Period on the Company's note to Intelligent Partners.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company intends to negotiate in good faith with respect to a restructuring of its obligations to Intelligent Partners. However, the Company cannot give any assurance that it will be successful in negotiating a restructure. In the event the Company is not able to negotiate a restructure, it may not be able to continue in business and may be necessary for the Company to seek protection under the Bankruptcy Act.</font></p> 20000 117780 117780 117780 4672812 -320000 <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>NOTE 1 &#8211; DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company is a Delaware corporation, incorporated on July 17, 1987 and has been engaged in the intellectual property monetization business since 2008.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">As used herein, the "Company" refers to Quest Patent Research Corporation and its wholly-owned and majority-owned and controlled operating subsidiaries unless the context indicates otherwise. All intellectual property acquisition, development, licensing and enforcement activities are conducted by the Company's operating subsidiaries.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the US (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these interim financial statements do not include all of the information and notes required by GAAP for complete financial statements. All adjustments (consisting of normal recurring items) necessary to present fairly the Company's consolidated financial position have been included. These interim financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2019. Operating results for the interim periods presented herein are not necessarily indicative of the results that may be expected for any other interim period or for the entire year. Reclassifications have been made to conform with the current year presentation.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>NOTE 2 &#8211; SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Principles of consolidation and financial statement presentation</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles ("US GAAP") and present the consolidated financial statements of the Company and its wholly-owned and majority-owned subsidiaries as of September 30, 2020.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The consolidated financial statements include the accounts and operations of:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Quest Patent Research Corporation ("the Company")</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Quest Licensing Corporation (NY) (wholly owned)</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Quest Licensing Corporation (DE) (wholly owned)</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Quest Packaging Solutions Corporation (90% owned)</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Quest Nettech Corporation (65% owned)</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Semcon IP, Inc. (wholly owned)</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Mariner IC, Inc. (wholly owned)</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">IC Kinetics, Inc. (wholly owned)</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">CXT Systems, Inc. (wholly owned)</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Photonic Imaging Solutions Inc. (wholly owned)</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">M-RED Inc. (wholly owned)</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Prior to April 2019, the operations of Wynn Technologies, Inc. were not included in the Company's consolidated financial statements as there were significant contingencies related to its control of Wynn Technologies, Inc. The sole asset of Wynn Technologies, Inc. was US Patent No. RE38,137E. Wynn Technologies, Inc. could not transfer, assign, sell, hypothecate or otherwise encumber US Patent No. RE38,137E without the express written consent of the owner of 35% of Wynn Technologies, Inc., unless, as of the date of such transfer, assignment, sale, hypothecation or other encumbrance, the owner had received a total of at least $250,000. US Patent No. RE38,137E expired on September 28, 2015. The Company accounted for its 65% interest in Wynn Technologies, Inc. under the equity method whereby the investment accounts were increased for contributions by the Company plus its 60% share of income pursuant to the contractual agreement which provides that the holder of 35% of the stock of Wynn Technologies, Inc. retained 40% of the income, and reduced for distributions and its 60% share of losses incurred, respectively, with the restriction whereby the account balances cannot go below zero. On April 11, 2019, Wynn Technologies, Inc. merged into Quest NetTech Corporation with Quest NetTech Corporation being the surviving entity. Pursuant to the merger agreement, Quest NetTech Corporation issued a 35% interest to the former 35% stockholder of Wynn Technologies, Inc.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Significant intercompany transaction and balances have been eliminated in consolidation.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Use of Estimates</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In preparing financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenue and expenses during the reporting period. Actual results could differ from those estimates.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Intangible Assets</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Intangible assets consist of patents which are amortized using the straight-line method over their estimated useful lives or statutory lives whichever is shorter and are reviewed for impairment upon any triggering event that may give rise to the assets ultimate recoverability as prescribed under the guidance related to impairment of long-lived assets. Costs incurred to acquire patents, including legal costs, are also capitalized as long-lived assets and amortized on a straight-line basis with the associated patent.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Patents include the cost of patents or patent rights (hereinafter, collectively "patents") acquired from third-parties or acquired in connection with business combinations. Patent acquisition costs are amortized utilizing the straight-line method over their remaining economic useful lives, ranging from one to ten years. Certain patent application and prosecution costs incurred to secure additional patent claims that, based on management's estimates are deemed to be recoverable, are capitalized and amortized over the remaining estimated economic useful life of the related patent portfolio.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Derivative Financial Instruments</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company evaluates the embedded conversion feature within its convertible debt instruments under ASC 815-15 and ASC 815-40 to determine if the conversion feature meets the definition of a liability and, if so, whether to bifurcate the conversion feature and account for it as a separate derivative liability. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based derivative financial instruments, the Company uses a Black Scholes model, in accordance with ASC 815-15 "Derivative and Hedging" to value the derivative instruments at inception and on subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether net-cash settlement of the derivative instrument could be required within 12 months after the balance sheet date.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Fair value of financial instruments</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. A fair value hierarchy is used which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. See Note 4 for information about derivative liabilities.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The fair value hierarchy based on the three levels of inputs that may be used to measure fair value are as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify; width: 0.6in"><font style="font: 10pt Times New Roman, Times, Serif"><i>Level 1 &#8211;</i></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Quoted prices in active markets for identical assets or liabilities.</font></td></tr> </table> <p style="text-align: justify; margin-top: 0; margin-bottom: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify; width: 0.6in"><font style="font: 10pt Times New Roman, Times, Serif"><i>Level 2</i> &#8211; </font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.</font></td></tr> </table> <p style="text-align: justify; margin-top: 0; margin-bottom: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify; width: 0.6in"><font style="font: 10pt Times New Roman, Times, Serif"><i>Level 3 &#8211; </i></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Unobservable inputs that are supported by little or no market activity and that are financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation.</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The carrying value reflected in the consolidated balance sheets for cash and cash equivalents, accounts receivable, accounts payable and accrued expenses and short-term borrowings approximate fair value due to the short-term nature of these items.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Income Tax</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company records revenues on a gross basis, before deduction for income taxes. The Company incurred foreign income tax expenses of approximately $0 and $65,000 for the three and nine months ended September 30, 2020, respectively, and approximately $0 and approximately $225 for the three and nine months ended September 30, 2019, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Inventor/Former Owner Royalties and Contingent Legal/Litigation Finance Expenses</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In connection with the investment in certain patents and patent rights, certain of the Company's operating subsidiaries may execute related agreements which grant to the inventors and/or former owners of the respective patents or patent rights, the right to receive a percentage of future net revenues (as defined in the respective agreements) generated as a result of licensing and otherwise enforcing the respective patents or patent portfolios.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company's operating subsidiaries may retain the services of law firms that specialize in patent licensing and enforcement and patent law in connection with their licensing and enforcement activities. These law firms may be retained on a contingent fee basis whereby such law firms are paid a percentage of any negotiated fees, settlements or judgments awarded.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company's operating subsidiaries may engage with funding sources that provide financing for patent licensing and enforcement. These litigation finance firms may be engaged on a non-recourse basis whereby such litigation finance firms are paid a percentage of any negotiated fees, settlements or judgments awarded in exchange for providing funding for legal fees and out of pocket expenses incurred as a result of the licensing and enforcement activities.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The economic terms of the inventor agreements, operating agreements, contingent legal fee arrangements and litigation financing agreements associated with the patent portfolios owned or controlled by the Company's operating subsidiaries, if any, including royalty rates, contingent fee rates and other terms, vary across the patent portfolios owned or controlled by such operating subsidiaries. Inventor/former owner royalties, payments to non-controlling interests, contingent legal fees expenses and litigation finance expenses fluctuate period to period, based on the amount of revenues recognized each period, the terms and conditions of revenue agreements executed each period and the mix of specific patent portfolios with varying economic terms and obligations generating revenues each period. Inventor/former owner royalties, contingent legal fees expenses and litigation finance expenses will continue to fluctuate and may continue to vary significantly period to period, based primarily on these factors.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Revenue Recognition</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company recognizes revenue in accordance with ASC Topic 606, "Revenue from Contracts with Customers". Revenue is recognized when control of the promised goods or services is transferred to customers at an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. Under Topic 606, revenue is recognized when there is a contract which has commercial substance which is approved by both parties and identifies the rights of the parties and the payment terms. The Company adopted Topic 606 as of January 1, 2018 using the modified retrospective transition method, with no impact on the consolidated financial position or results of operations.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Recent Accounting Pronouncements</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Management does not believe that there are any recently issued, but not effective, accounting standards which, if currently adopted, would have a material effect on the Company's financial statements.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Going Concern</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">As shown in the accompanying financial statements, the Company has an accumulated deficit of approximately $20,974,000 and negative working capital of approximately $7,520,000 as of September 30, 2020. Because of the Company's continuing losses, its working capital deficiency, the uncertainty of future revenue, the Company's obligations to Intellectual Ventures and Intelligent Partners, as transferee of United Wireless, the Company's low stock price and the absence of a trading market in its common stock, the ability of the Company to raise funds in equity market or from lenders is severely impaired. These conditions, together with the effects of the COVID-19 pandemic and the steps taken by the states to slow the spread of the virus and its effect on its business raise substantial doubt as to the Company's ability to continue as a going concern. Although the Company may seek to raise funds and to obtain third party funding for litigation to enforce its intellectual property rights, the availability of such funds, particularly in view of the COVID-19 pandemic, is uncertain. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. The Company is in default on payment of principal and interest on its convertible notes due September 30, 2020 in the principal amount of $4,672,812. Accrued interest on the notes was $117,780. The Company has obtained a standstill agreement of the noteholder until November 13, 2020. In connection with the standstill agreement, the Company paid the $117,780 interest accrued at September 30, 2020, and, in connection with an extension of the standstill to November 13, 2020, the Company paid additional interest through the standstill period of $20,000. Although the Company is in negotiations with the noteholder with respect to a restructure of the note and other payment agreements between the noteholder and the Company, it can give no assurance that the negotiations will result in a revised agreement. The failure of the Company to negotiate an acceptable restructure of the agreement could materially and adversely affect the ability of the Company to continue in business, and it may be necessary for the Company to seek protection under the Bankruptcy Act.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><font style="font: 10pt Times New Roman, Times, Serif"><u>Principles of consolidation and financial statement presentation</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles ("US GAAP") and present the consolidated financial statements of the Company and its wholly-owned and majority-owned subsidiaries as of September 30, 2020.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The consolidated financial statements include the accounts and operations of:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Quest Patent Research Corporation ("the Company")</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Quest Licensing Corporation (NY) (wholly owned)</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Quest Licensing Corporation (DE) (wholly owned)</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Quest Packaging Solutions Corporation (90% owned)</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Quest Nettech Corporation (65% owned)</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Semcon IP, Inc. (wholly owned)</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Mariner IC, Inc. (wholly owned)</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">IC Kinetics, Inc. (wholly owned)</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">CXT Systems, Inc. (wholly owned)</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Photonic Imaging Solutions Inc. (wholly owned)</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">M-RED Inc. (wholly owned)</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Prior to April 2019, the operations of Wynn Technologies, Inc. were not included in the Company's consolidated financial statements as there were significant contingencies related to its control of Wynn Technologies, Inc. The sole asset of Wynn Technologies, Inc. was US Patent No. RE38,137E. Wynn Technologies, Inc. could not transfer, assign, sell, hypothecate or otherwise encumber US Patent No. RE38,137E without the express written consent of the owner of 35% of Wynn Technologies, Inc., unless, as of the date of such transfer, assignment, sale, hypothecation or other encumbrance, the owner had received a total of at least $250,000. US Patent No. RE38,137E expired on September 28, 2015. The Company accounted for its 65% interest in Wynn Technologies, Inc. under the equity method whereby the investment accounts were increased for contributions by the Company plus its 60% share of income pursuant to the contractual agreement which provides that the holder of 35% of the stock of Wynn Technologies, Inc. retained 40% of the income, and reduced for distributions and its 60% share of losses incurred, respectively, with the restriction whereby the account balances cannot go below zero. On April 11, 2019, Wynn Technologies, Inc. merged into Quest NetTech Corporation with Quest NetTech Corporation being the surviving entity. Pursuant to the merger agreement, Quest NetTech Corporation issued a 35% interest to the former 35% stockholder of Wynn Technologies, Inc.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Significant intercompany transaction and balances have been eliminated in consolidation.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>NOTE 4 &#8211; DERIVATIVE LIABILITIES</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Because there is not a fixed conversion price, remaining compliant with the authorized share requirement under the notes to Intelligent Partners is outside of the control of the Company. Because there is no set limit on the number of shares issuable under the notes if the notes become convertible, absent an increase in the stock price or an increase in authorized shares, there are potentially not enough authorized shares of common stock to satisfy the exercise of the Company's options, thus the Company determined that certain options qualify as derivative liabilities under ASC Topic 815. On January 22, 2016, the Company reclassified all non-employee warrants and options as derivative liabilities and revalued them at their fair values at each balance sheet date. Any change in fair value was recorded as other income (expense) for each reporting period at each balance sheet date.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">As of September 30, 2020, and December 31, 2019, the aggregate fair value of the outstanding derivative liability was approximately $0 and $595,000, respectively. The underlying derivative expired unexercised on September 30, 2020, the derivative liability was resolved and credited back to additional paid in capital.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company estimated the fair value of the derivative liability using the Black-Scholes option pricing model using the following key assumptions during the period ended September 30, 2020 and December 31, 2019:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Period Ended</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td> </tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center">September&#160;30,</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center">December&#160;31,</td><td style="font-weight: bold">&#160;</td> </tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 76%; text-align: left">Volatility</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">261</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">207-426</font></td><td style="width: 1%; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Risk-free interest rate</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0.20</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0.24</td><td style="text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Expected dividends</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Expected term</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1.75-4.70</font></td><td style="text-align: left">&#160;</td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The following schedule summarizes the valuation of financial instruments at fair value in the balance sheets as of September 30, 2020 and December 31, 2019:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="22" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fair Value Measurements as of</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2020</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Assets</td><td>&#160;</td> <td colspan="2" style="text-align: center">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">&#160;</td><td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">None</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Total assets</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Liabilities</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 28%; text-align: left">Option derivative liability</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">595,000</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Total liabilities</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">595,000</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The following table sets forth a reconciliation of changes in the fair value of derivative liabilities classified as Level 3 in the fair value hierarchy:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; text-indent: -0.125in; padding-left: 0.125in; text-align: center">&#160;</td><td style="white-space: nowrap; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Significant <br /> Unobservable<br /> Inputs (Level&#160;3) <br /> as of<br /> September&#160;30,<br /> 2020</b></font></p></td><td style="white-space: nowrap; padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 88%; text-align: left">Beginning balance</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">595,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Change in fair value</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(275,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Resolution of derivative liability</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(320,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Ending balance</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; text-indent: -0.125in; padding-left: 0.125in; text-align: center">&#160;</td><td style="white-space: nowrap; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Significant <br /> Unobservable<br /> Inputs (Level&#160;3) <br /> as of<br /> September&#160;30,<br /> 2020</b></font></p></td><td style="white-space: nowrap; padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 88%; text-align: left">Beginning balance</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">595,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Change in fair value</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(275,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Resolution of derivative liability</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(320,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Ending balance</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>NOTE 5 &#8211; STOCKHOLDERS' EQUITY</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">No options were granted during the nine months ended September 30, 2020.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">A summary of the status of the Company's stock options and changes is set forth below:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="text-align: center; vertical-align: bottom"> <td>&#160;</td><td>&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold">Number of <br /> Options <br /> (#)</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold">Weighted <br /> Average <br /> Exercise<br /> Price <br /> ($)</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold">Weighted <br /> Average <br /> Remaining <br /> Contractual<br /> Life <br /> (Years)</td><td style="font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 63%; font-weight: bold; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"><b>Balance - December 31, 2019</b></font></td><td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">50,000,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">0.03</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">0.75</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">Granted</font></td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">Exercised</font></td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">Expired</font></td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(50,000,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0.03</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">Cancelled</font></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"><b>Balance - September 30, 2020</b></font></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">-</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="text-align: center; vertical-align: bottom"> <td>&#160;</td><td>&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold">Number of <br /> Options <br /> (#)</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold">Weighted <br /> Average <br /> Exercise<br /> Price <br /> ($)</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold">Weighted <br /> Average <br /> Remaining <br /> Contractual<br /> Life <br /> (Years)</td><td style="font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 63%; font-weight: bold; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"><b>Balance - December 31, 2019</b></font></td><td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">50,000,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">0.03</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">0.75</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">Granted</font></td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">Exercised</font></td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">Expired</font></td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(50,000,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0.03</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">Cancelled</font></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"><b>Balance - September 30, 2020</b></font></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>NOTE 6 &#8211; INTANGIBLE ASSETS</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Intangible assets include patents purchased and are recorded based at their acquisition cost. Intangible assets consisted of the following:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center">&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">&#160;</td><td>&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted average</td><td style="font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center">September&#160;30,</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center">amortization period</td><td style="font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(years)</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Patents</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">5,690,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">5,595,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">6.50</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Less: net monetization obligations</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(509,811</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(509,811</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Imputed interest</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(713,073</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(713,073</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Subtotal</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4,467,116</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4,372,116</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Less: accumulated amortization</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,127,530</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,617,762</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt; text-align: right">&#160;</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Net value of intangible assets</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,339,586</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,754,354</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt; text-align: right">6.38</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Intangible assets are comprised of patents with estimated useful lives. The intangible assets at September 30, 2020 represent:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; background-color: white; width: 100%"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">patents acquired in October 2015 for a purchase price of $3,000,000, the useful lives of the patents, at the date of purchase, was 6-10 years; </font></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; background-color: white; width: 100%"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">patents acquired in July 2017 pursuant to an obligation to distribute 50% of net revenues to IV 34/37, against which $25,000 was advanced at closing and provided that in the event that, on December 31, 2018, December 31, 2019 and December 31, 2020, cumulative distributions of 50% of net revenues to IV 34/37 total less than $100,000, $375,000 and $975,000, respectively, CXT shall pay the difference necessary to achieve the applicable minimum payment amount within ten days after the applicable date; with any advances being credited toward future distributions to IV 34/36; the useful lives of the patents, at the date of acquisition, was 5-6 years; </font></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; background-color: white; width: 100%"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">patents (which were fully depreciated at the date of acquisition) acquired in January 2018 pursuant to an agreement with to Intellectual Ventures Assets 62 LLC and Intellectual Ventures Assets 71 LLC "(IV 62/71"), pursuant to which CXT has an obligation to distribute 50% of net revenues to IV 62/71 against which CXT advanced $10,000 at closing; </font></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; background-color: white; width: 100%"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">patents acquired in January 2018 by Photonic Imaging Solutions Inc. ("PIS") from Intellectual Ventures Assets 64 LLC ("IV 64") pursuant to which PIS is to pay IV 64 (a) 70% of the first $1,500,000 of net revenue, (b) 30% of the next $1,500,000 of net revenue and (c) 50% of net revenue in excess of $3,000,000, against which PIS advanced $10,000 at closing; and </font></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; background-color: white; width: 100%"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">patents acquired in March 2019 by M-Red Inc. ("M-Red") from Intellectual Ventures Assets 113 LLC and Intellectual Ventures 108 LLC ("IV 113/108") pursuant to which M-Red is obligated to distribute 50% of net revenues to IV 113/108, against which $75,000 was advanced at closing and provided that in the event that, on September 30, 2020, September 30, 2021 and September 30, 2022, cumulative distributions of 50% of net revenues to IV 113/108 total less than $450,000, $975,000 and $1,575,000, respectively, M-Red shall pay the difference necessary to achieve the applicable minimum payment amount within ten days after the applicable date; with any advances being credited toward future distributions to IV 113/108; the useful lives of the patents, at the date of acquisition, was approximately nine years; and </font></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; background-color: white; width: 100%"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify; width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">patents (which were fully depreciated at the date of acquisition) acquired in May 2020 for a purchase price of $95,000 pursuant to an agreement with Texas Technology Ventures 2, LLP ("TTV"), pursuant to which of the Company retains the first $230,000 of net proceeds, as defined in the agreement, after which the company has an obligation to distribute 50% of net proceeds to TTV. </font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company amortizes the costs of intangible assets over their estimated useful lives on a straight-line basis. Costs incurred to acquire patents, including legal costs, are also capitalized as long-lived assets and amortized on a straight-line basis with the associated patent. Amortization of patents is included as a selling, general and administrative expense in the accompanying consolidated statements of operations.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company assesses intangible assets for any impairment to the carrying values. As of September 30, 2020, and December 31, 2019, management concluded that there was no impairment to the acquired assets. At September 30, 2020 and December 31, 2019, the book value of the Company's intellectual property was $2,339,586 and $2,754,354, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Amortization expense for patents comprised $509,768 and $529,486 for the nine months ended September 30, 2020 and the year ended December 31, 2019, respectively. Future amortization of intangible assets is as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Year ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td> <td colspan="2" style="text-align: center">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 88%; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">Remainder of 2020</font></td><td style="width: 1%; text-align: left">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">135,350</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">2021</td><td style="text-align: left">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">549,345</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">2022</td><td style="text-align: left">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">495,742</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">2023</td><td style="text-align: left">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">323,070</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">2024 and thereafter</font></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">836,079</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">Total</font></td><td style="padding-bottom: 4pt; text-align: left">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,339,586</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Pursuant to the securities purchase agreement dated October 22, 2015 between the Company and United Wireless, more fully described in the Company's Annual Report on Form 10-K for the year ended December 31, 2019, 15% of the net monetization proceeds from the patents acquired in October 2015 will be paid to Intelligent Partners, as transferee of United Wireless. This monetization obligation was recognized as a discount to the loan and amortized over the life of the loan using the effective interest method. In addition, the Company entered into a monetization agreement with United Wireless pursuant to which the Company agreed to pay United Wireless 7.5% of the net monetization proceeds from the patents acquired by CXT in July 2017. This obligation was recorded as an expense and is reflected in interest expense during the third quarter of 2017.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company granted Intellectual Ventures a security interest in the patents assigned to the Company as security for the payment of the balance of the purchase price. The security interest of Intellectual Ventures is senior to the security interest of Intelligent Partners, as successor to United Wireless, in the proceeds derived from such patents.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Pursuant to the funding agreement dated May 29, 2019 between the Company and the funding source, 100% of the net monetization proceeds due to the company from the audio messaging patents acquired in May 2020 will be paid to the funding source until the funding source receives $190,000. The monetization obligation, net of the $95,000 provided by the funding source, was recognized as a discount to the debt and fully amortized to interest expense during the period.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The balance of the purchase price of the patents is reflected as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September&#160;30,<br /> 2020</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td> <td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December&#160;31,<br /> 2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td> </tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Current Liabilities:</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td> <td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 76%; text-align: left">Purchase price of patents, current portion</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">975,000</td><td style="width: 1%; text-align: left">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">569,386</td><td style="width: 1%; text-align: left">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Unamortized discount</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td> <td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Non-current liabilities:</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td> <td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Purchase price of patents, long term</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1,315,000</td><td style="text-align: left">&#160;</td> <td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">1,725,000</td><td style="text-align: left">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Unamortized discount</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(155,019</td><td style="text-align: left">)</td> <td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(282,503</td><td style="text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Total current and non-current</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,134,981</td><td style="text-align: left">&#160;</td> <td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,011,883</td><td style="text-align: left">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Effective interest rate of Amortized over 2-3 years</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9.35%-14.45</font></td><td style="text-align: left">%</td> <td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9.6-12.5</font></td><td style="text-align: left">%</td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Because the non-current minimum payment obligations are due over the next three years, the Company imputed interest at 10% per annum and the interest will be accreted up to the maturity date.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>NOTE 8 &#8211; RELATED PARTY TRANSACTIONS</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company has at various times entered into transactions with related parties, including officers, directors and major stockholders, wherein these parties have provided services, advanced or loaned money, or both, to the Company which was needed to support its daily operations. The Company discloses all related party transactions.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">See Notes 3 and 6 in connection with transactions with United Wireless. During periods ended September 30, 2020 and 2019, the Company incurred interest expense on the Company's 10% notes issued to United Wireless pursuant to the securities purchase agreement dated October 22, 2015 more fully described in the Company's financial statements for the year ended December 31, 2019. On each of September 30, 2017 and 2018, accrued interest was added to the principal amount of the note. Subsequent to September 30, 2018, the Company is to pay interest quarterly. During the three and nine months ended September 30, 2020 the Company paid the amounts due of approximately $117,000 and 350,000 in interest, respectively, and the amounts due of approximately $117,000 and 350,000 for the three and nine months ended September 30, 2019, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">See Note 9 with respect to the employment agreement with the Company's president and chief executive officer.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">During the three and nine months ended September 30, 2020 and 2019, the Company contracted with an entity owned by the chief technology officer for the provision of information technology services to the Company. The cost of such services was approximately $115 and $320 for the three and nine months ended September 30, 2020, respectively, and approximately $115 and $350 for the three and nine months ended September 30, 2019, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">During the three and nine months ended September 30, 2020, the Company contracted with a law firm more than 10 percent owned, but not controlled, by the father-in-law of the chief executive officer. The firm is engaged on a contingent fee basis and serves as escrow agent for the Company in connection with monetization of the Company's intellectual property rights. As of September 30, 2020 the Company recorded an accrued liability of approximately $564,000 in connection with the engagement. In prior periods, the Company engaged a firm at which the father-in-law of the chief executive was formerly a partner. Because his interest in the prior firm was less than 10%, the prior firm was not considered a related party in prior periods.</font></p> 0.10 <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>NOTE 9 &#8211; COMMITMENTS AND CONTINGENCIES</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><i>Employment Agreements</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Pursuant to a restated employment agreement, dated November 30, 2014, with the Company's president and chief executive officer, the Company agreed to employ him as president and chief executive officer for a term of three years, commencing January 1, 2014, and continuing on a year-to-year basis unless terminated by either party on not less than 90 days' notice prior to the expiration of the initial term or any one-year extension. The agreement provides for an initial annual salary of $252,000, which may be increased, but not decreased, by the board or the compensation committee. In March 2016, the Company's board of directors increased the chief executive officer's annual salary to $300,000, effective January 1, 2016. The chief executive officer is entitled to a bonus if the Company meets or exceeds performance criteria established by the compensation committee. In August 2016, the Company's board of directors approved annual bonus compensation equal to 30% of the amount by which the Company's consolidated income before income taxes exceeds $500,000, but, if the Company is subject to the limitation on deductibility of executive compensation pursuant to Section 162(m) of the Internal Revenue Code, the bonus cannot exceed the amount which would be deductible pursuant to Section 162(m). The chief executive officer is also eligible to participate in any executive incentive plans which the Company may adopt.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On May 11, 2020, the board of directors adopted a Simplified Employee Pension &#8211; Individual Retirement Accounts Contribution Agreement for it employees pursuant to which the Company deposits to a SEP IRA account of its employees a percentage of the employee's compensation, subject to statutory limitations on the amount of the contribution. For 2020, the percentage was set at 19%. The Company has only one employee, its chief executive officer.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><i>Inventor Royalties, Contingent Litigation Funding Fees and Contingent Legal Expenses</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In connection with the investment in certain patents and patent rights, certain of the Company's operating subsidiaries executed agreements which grant to the former owners of the respective patents or patent rights, the right to receive inventor royalties based on future net revenues (as defined in the respective agreements) generated as a result of licensing and otherwise enforcing the respective patents or patent portfolios.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company's operating subsidiaries may engage third party funding sources to provide funding for patent licensing and enforcement. The agreements with the third party funding sources may provide that the funding source receive a portion of any negotiated fees, settlements or judgments. In certain instances, these third party funding sources are entitled to receive a significant percentage of any proceeds realized until the third party funder has recouped agreed upon amounts based on formulas set forth in the underlying funding agreement, which may reduce or delay and proceeds due to the Company.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company's operating subsidiaries may retain the services of law firms in connection with their licensing and enforcement activities. These law firms may be retained on a contingent fee basis whereby the law firms are paid on a scaled percentage of any negotiated fees, settlements or judgments awarded based on how and when the fees, settlements or judgments are obtained.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Depending on the amount of any recovery, it is possible that all the proceeds from a specific settlement may be paid to the funding source and legal counsel.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The economic terms of the inventor agreements, funding agreements and contingent legal fee arrangements associated with the patent portfolios owned or controlled by the Company's operating subsidiaries, if any, including royalty rates, proceeds sharing rates, contingent fee rates and other terms, vary across the patent portfolios owned or controlled by the operating subsidiaries. Inventor royalties, payments to noncontrolling interests, payments to third party funding providers and contingent legal fees expenses fluctuate period to period, based on the amount of revenues recognized each period, the terms and conditions of revenue agreements executed each period and the mix of specific patent portfolios with varying economic terms and obligations generating revenues each period. Inventor royalties, payments to third party funding sources and contingent legal fees expenses will continue to fluctuate and may continue to vary significantly period to period, based primarily on these factors.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In December 2018, the Company entered into an unsecured non-recourse funding agreement whereby a third party agreed to provide funds to the Company to enable the Company to support its structured licensing programs for the CMOS and M-RED portfolios. Under the funding agreement, the third party receives an interest in the proceeds from the programs, and the Company has no other obligation to the third party. As of September 30, 2020, the Company paid the third party approximately $130,000 under the agreement.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In May 2020, the Company entered into an unsecured non-recourse funding agreement whereby a third party agreed to provide funds for the acquisition of the audio messaging portfolio. Under the funding agreement, the third party receives a priority interest in the net proceeds, as defined in the agreement, from the program up to $190,000 and the Company has no other obligation to the third party and has no liability to the funder in the event that the Company does not generate net proceeds. See Note 3 for information with respect to the funding agreement.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><i>Patent Enforcement and Other Litigation</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Certain of the Company's operating subsidiaries are engaged in litigation to enforce their patents and patent rights. In connection with these patent enforcement actions, it is possible that a defendant may request and/or a court may rule that an operating subsidiary has violated statutory authority, regulatory authority, federal rules, local court rules, or governing standards relating to the substantive or procedural aspects of such enforcement actions. In such event, a court may issue monetary sanctions against the Company or its operating subsidiaries or award attorney's fees and/or expenses to a defendant(s), which could be material, and if required to be paid by the Company or its operating subsidiaries, could materially harm the Company's operating results and financial position and could result in a default under the Company's notes to Intelligent Partners, which are already in default as a result of the Company's failure to pay the notes on the September 30, 2020 maturity date. Since the operating subsidiaries do not have any assets other than the patents, and the Company does not have any available financial resources to pay any judgment which a defendant may obtain against a subsidiary, such a judgement may result in the bankruptcy of the subsidiary and/or the loss of the patents, which are the subsidiaries' only assets.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On January 19, 2017, the court in the Mobile Data Portfolio litigation granted the defendants' motion for summary judgment of non-infringement, On January 31, 2017, Quest Licensing Corporation filed a notice of appeal with the United States Court of Appeals for the Federal Circuit. Following the court's decision granting the defendant's motion for summary judgment, the defendants moved for an award of attorneys' fees under Section 285 of the Patent Act which provides that "the court in exceptional cases may award reasonable attorney fees to the prevailing party." On June 29, 2017, the defendants' motion for attorney fees in the Mobile Data litigation was denied, without prejudice and with leave to renew their motion thirty days from the decision of the appellate court on Quest Licensing Corporation's appeal. On June 8, 2018 the appellate court affirmed the lower court's decision. On June 9, 2018 Quest Licensing Corporation filed a petition for rehearing with the appellate court. On July 30, 2018 the appellate court denied Quest Licensing Corporations petition for rehearing. On March 27, 2019 the court in the Mobile Data Portfolio litigation denied the defendants' motion for attorney fees under Section 285 of the Patent Act.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In May 2018, CXT brought patent infringement suits in the United States District Court for the Eastern District of Texas against Stage Stores, Inc. In February 2020, Specialty Retailers, Inc. ("Specialty"), the parent company of Stage Stores, Inc., failed to make the final installment payment pursuant to the Settlement and License Agreement between Specialty and CXT. On March 31, 2020, CXT made a sealed motion with the Court to Reopen the Action and Enforce the Settlement Agreement. On May 1, 2020, CXT filed a sealed motion with the Court seeking Summary Judgment to Enforce the Settlement Agreement. On May 4, 2020, the Court granted the motion. On May 10, 2020 Specialty filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division. On May 16, 2020, CXT filed a proof of claim with the Bankruptcy Court. On May 20, 2020, the reopened District Court action was stayed automatically pending the outcome of the bankruptcy action.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In May 2018 CXT Systems brought patent infringement suits in the United States District Court for the Eastern District of Texas against J.C. Penney Company, Inc. ("JCP"). On April 20, 2020 the parties entered into a settlement and license agreement and the case was dismissed. On May 15, 2020 JCP filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division. On June 4, 2020, the CXT notified JCP of material breach of the settlement and license agreement for failure to make payment pursuant to the agreement. On May 16, 2020, CXT filed a proof of claim with the Bankruptcy Court.</font></p> EX-101.SCH 7 qprc-20200930.xsd XBRL SCHEMA FILE 00000001 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 00000002 - Statement - Unaudited Consolidated Balance Sheets link:presentationLink link:calculationLink link:definitionLink 00000003 - Statement - Unaudited Consolidated Balance Sheets (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000004 - Statement - Unaudited Consolidated Statements of Operations link:presentationLink link:calculationLink link:definitionLink 00000005 - Statement - Consolidated Statements of Changes in Stockholders' Deficit link:presentationLink link:calculationLink link:definitionLink 00000006 - Statement - Unaudited Consolidated Statement of Cash Flows link:presentationLink link:calculationLink link:definitionLink 00000007 - Statement - Unaudited Consolidated Statement of Cash Flows (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000008 - Disclosure - Description of Business and Basis of Presentation link:presentationLink link:calculationLink link:definitionLink 00000009 - Disclosure - Summary of Significant Accounting Policies link:presentationLink link:calculationLink link:definitionLink 00000010 - Disclosure - Short-term Debt and Long-term Liabilities link:presentationLink link:calculationLink link:definitionLink 00000011 - Disclosure - Derivative Liabilities link:presentationLink link:calculationLink link:definitionLink 00000012 - Disclosure - Stockholders' Equity link:presentationLink link:calculationLink link:definitionLink 00000013 - Disclosure - Intangible Assets link:presentationLink link:calculationLink link:definitionLink 00000014 - Disclosure - Non-Controlling Interest link:presentationLink link:calculationLink link:definitionLink 00000015 - Disclosure - Related Party Transactions link:presentationLink link:calculationLink link:definitionLink 00000016 - Disclosure - Commitments and Contingencies link:presentationLink link:calculationLink link:definitionLink 00000017 - Disclosure - Subsequent Events link:presentationLink link:calculationLink link:definitionLink 00000018 - Disclosure - Summary of Significant Accounting Policies (Policies) link:presentationLink link:calculationLink link:definitionLink 00000019 - Disclosure - Short-term Debt and Long-term Liabilities (Tables) link:presentationLink link:calculationLink link:definitionLink 00000020 - Disclosure - Derivative Liabilities (Tables) link:presentationLink link:calculationLink link:definitionLink 00000021 - Disclosure - Stockholders' Equity (Tables) link:presentationLink link:calculationLink link:definitionLink 00000022 - Disclosure - Intangible Assets (Tables) link:presentationLink link:calculationLink link:definitionLink 00000023 - Disclosure - Non-Controlling Interest (Tables) link:presentationLink link:calculationLink link:definitionLink 00000024 - Disclosure - Summary of Significant Accounting Policies (Details) link:presentationLink link:calculationLink link:definitionLink 00000025 - Disclosure - Short-term Debt and Long-term Liabilities (Details) link:presentationLink link:calculationLink link:definitionLink 00000026 - Disclosure - Short-term Debt and Long-term Liabilities (Details Textual) link:presentationLink link:calculationLink link:definitionLink 00000027 - Disclosure - Derivative Liabilities (Details) link:presentationLink link:calculationLink link:definitionLink 00000028 - Disclosure - Derivative Liabilities (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000029 - Disclosure - Derivative Liabilities (Details 2) link:presentationLink link:calculationLink link:definitionLink 00000030 - Disclosure - Derivative Liabilities (Details Textual) link:presentationLink link:calculationLink link:definitionLink 00000031 - Disclosure - Stockholders' Equity (Details) link:presentationLink link:calculationLink link:definitionLink 00000032 - Disclosure - Intangible Assets (Details) link:presentationLink link:calculationLink link:definitionLink 00000033 - Disclosure - Intangible Assets (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000034 - Disclosure - Intangible Assets (Details 2) link:presentationLink link:calculationLink link:definitionLink 00000035 - Disclosure - Intangible Assets (Details Textual) link:presentationLink link:calculationLink link:definitionLink 00000036 - Disclosure - Non-Controlling Interest (Details) link:presentationLink link:calculationLink link:definitionLink 00000037 - Disclosure - Related Party Transactions (Details) link:presentationLink link:calculationLink link:definitionLink 00000038 - Disclosure - Commitments and Contingencies (Details) link:presentationLink link:calculationLink link:definitionLink 00000039 - Disclosure - Subsequent Events (Details) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 8 qprc-20200930_cal.xml XBRL CALCULATION FILE EX-101.DEF 9 qprc-20200930_def.xml XBRL DEFINITION FILE EX-101.LAB 10 qprc-20200930_lab.xml XBRL LABEL FILE Finite-Lived Intangible Assets by Major Class [Axis] Patents [Member] Option Indexed to Issuer's Equity, Type [Axis] Employee Stock Option [Member] Legal Entity [Axis] Wynn Technologies [Member] Quest Packaging Solutions Corporation [Member] Related Party [Axis] United Wireless Holdings [Member] Fair Value, Hierarchy [Axis] Fair Value, Inputs, Level 3 [Member] Fair Value, Inputs, Level 1 [Member] Fair Value, Inputs, Level 2 [Member] Range [Axis] Maximum [Member] Minimum [Member] Title of Individual [Axis] Chief Executive Officer [Member] Equity Components [Axis] Common Stock Additional Paid-in Capital Deficit Non-controlling Interest in Subsidiaries CXT Systems, Inc. [Member] M-RED Inc. [Member] Quest Nettech Corporation [Member] Agreement [Axis] Securities Purchase Agreement [Member] Debt Instrument [Axis] Securities Purchase Agreement [Member] U.S. Small Business Association [Member] Subsequent Event Type [Axis] Subsequent Event [Member] Document and Entity Information [Abstract] Entity Registrant Name Entity Central Index Key Amendment Flag Current Fiscal Year End Date Document Type Document Period End Date Document Fiscal Period Focus Document Fiscal Year Focus Entity Current Reporting Status Entity Filer Category Entity Small Business Entity Shell Company Entity Emerging Growth Company Entity Common Stock, Shares Outstanding Entity Filer Number Entity Interactive Data Current Entity Incorporation State Country Code Entity Well-known Seasoned Issuer Entity Voluntary Filers Entity Public Float Statement of Financial Position [Abstract] ASSETS Current assets Cash and cash equivalents Accounts receivable Other current assets Total current assets Patents, net of accumulated amortization of $2,127,530 and $1,617,762 respectively Total assets LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable and accrued liabilities Accrued liabilities – related party Loans payable - third party Purchase price of patents, current portion, net of unamortized discount of $0 Loan payable – related party, net of unamortized discount and debt issuance costs of $0 and $189,705, respectively Accrued interest - loan payable related party Accrued interest - loans payable third party Derivative liability Total current liabilities Non-current liabilities Contingent funding liabilities Loans payable - SBA Purchase price of patents, net of unamortized discount of $155,019 and $282,503, respectively Total liabilities Stockholders' deficit: Preferred stock - par value $.00003 per share - authorized 10,000,000 Shares - no shares issued and outstanding Common stock, par value $0.00003 per share; authorized 10,000,000,000 shares and 10,000,000,000 at September 30, 2020 and December 31, 2019; shares issued and outstanding 383,038,334 at September 30, 2020 and December 31, 2019 Additional paid-in capital Accumulated deficit Total Quest Patent Research Corporation deficit Non-controlling interest in subsidiary Total stockholders' deficit Total liabilities and stockholders' deficit Patents, net of accumulated amortization Purchase price of patents, current portion, net of unamortized discount Loan payable - related party unamortized discount, current Purchase price of patents unamortized discount Preferred stock, par value Preferred stock, shares authorized Preferred stock, shares issued Preferred stock, shares outstanding Common stock, par value Common stock, shares authorized Common stock, shares issued Common stock, shares outstanding Income Statement [Abstract] Revenues Patent licensing fees Licensed packaging sales Total revenue Operating expenses Cost of revenue: Cost of sales Litigation and licensing expenses Management support services Selling, general and administrative expenses Total operating expenses Income /(loss) from operations Other Income and (expenses) Gain/(loss) on derivative liability Other income Interest expense Total other income (expenses) Net income (loss) before income tax Income tax Net income/(loss) Net (income)/loss attributable to non-controlling interest in subsidiaries Net income/(loss) attributable to Quest Patent Research Corporation Income (loss) per share basic and diluted Weighted average shares outstanding - basic and diluted Statement [Table] Statement [Line Items] Beginning Balance Beginning Balance, shares Resolution of derivative liability Net loss Ending Balance Ending Balance, shares Statement of Cash Flows [Abstract] Cash flows from operating activities: Adjustments to reconcile net loss to net cash provided by/(used in) operating activities: Amortization of debt discount (Gain)/loss on derivative liability Depreciation and amortization Changes in operating assets and liabilities: Accounts receivable Accrued interest - loans payable related party Accrued interest - loans payable third party Other current assets Accounts payable and accrued expenses Net cash provided by/(used in) operating activities Cash flows from investing activities: Purchase of patents Net cash used in investing activities Cash flows from financing activities: Proceeds from sale of future revenue Proceeds from SBA loans Repayment of purchase price of patents Net cash provided by/(used in) financing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period Non-cash investing and financing activities Accounts payable for patent purchase, net of imputed interest of $336,781 Supplemental disclosure of cash flow information: Cash paid during the period for: Income taxes, including foreign taxing authorities withheld taxes of $65,363 and $225 during the periods ended September 30, 2020, and 2019 respectively. Interest Net of imputed interest Foreign taxing authorities withheld taxes Organization, Consolidation and Presentation of Financial Statements [Abstract] DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Accounting Policies [Abstract] SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Debt Disclosure [Abstract] SHORT-TERM DEBT AND LONG-TERM LIABILITIES Derivative Instruments and Hedging Activities Disclosure [Abstract] DERIVATIVE LIABILITIES Equity [Abstract] STOCKHOLDERS' EQUITY Goodwill and Intangible Assets Disclosure [Abstract] INTANGIBLE ASSETS Noncontrolling Interest [Abstract] NON-CONTROLLING INTEREST Related Party Transactions [Abstract] RELATED PARTY TRANSACTIONS Commitments and Contingencies Disclosure [Abstract] COMMITMENTS AND CONTINGENCIES Subsequent Events [Abstract] Subsequent Events Principles of consolidation and financial statement presentation Use of Estimates Intangible Assets Derivative Financial Instruments Fair value of financial instruments Income Tax Inventor/Former Owner Royalties and Contingent Legal/Litigation Finance Expenses Revenue Recognition Recent Accounting Pronouncements Going Concern Schedule of short-term and long-term debt Schedule of fair value of the investment proceeds was allocated among the notes, common stock, and options Schedule of fair value of derivative liability using black-scholes option pricing model Schedule of valuation of financial instruments Schedule of reconciliation of changes in fair value of derivative liabilities classified as Level 3 Schedule of stock options Schedule of intangible assets Schedule of annual amortization expense Schedule of purchase price of the patents Schedule of equity attributable to the non-controlling interest Wynn Technologies Inc. [Member] Statistical Measurement [Axis] Summary of Significant Accounting Policies (Textual) Ownership percentage Patents, description Patents economic useful lives Foreign income tax expenses Negative working capital Ownership interest, description Principal amount Accrued interest Additional interest Short-term debt: Loans payable - third party Purchase price of patents - current portion Net short-term debt Loan payable - related party Gross Accrued Interest Unamortized discount Net loans payable - related party Long-term liabilities: Loans payable - SBA Gross Accrued Interest Net loans payable SBA Purchase price of patents Gross Unamortized discount Net purchase price of patents - long-term Contingent funding liabilities: Gross Net contingent funding liabilities Schedule of Long-term Debt Instruments [Table] Debt Instrument [Line Items] United Wireless Holdings, Inc. [Member] Short-Term Debt and Long-Term Liabilities (Textual) Accrued interest percentage Principal amount Accrued interest Interest paid Unsecured loans Maturity date Bearing interest percentage Debt instrument, description Minimum future cumulative distributions Minimum future cumulative distributions, short-term Description of minimum payments due under agreement Acquisition funding amount Net proceeds from third parties Litigation funding amount Total contingent funding liability Effective interest rate Company paid loan payable Fair value of options grant Percentage of promissory note Percentage of effective interest rate including discount Company received amount Payment to IV 34/37 referred Percentage of net monetization Percentage of distribute net recoveries CXT advanced of recoveries Proceeds from notes payable Debt issuance cost Amortized and charged to interest expense Licensing programs fund Discount of monetization agreement Funding agreement Derivative [Table] Derivative [Line Items] Volatility Risk-free interest rate Expected dividends Expected term Fair Value Hierarchy and NAV [Axis] Level 1 [Member] Level 2 [Member] Level 3 [Member] Assets None Total assets Liabilities Option derivative liability Total liabilities Beginning balance Change in fair value Resolution of derivative liability Ending balance Derivative Liabilities (Textual) Aggregate fair value of outstanding derivative liability Option Indexed to Issuer's Equity [Table] Option Indexed to Issuer's Equity [Line Items] Stock Options [Member] Number of Options Beginning Balance Granted Exercised Expired Cancelled Ending Balance Weighted Average Exercise Price Beginning Balance Granted Expired Exercised Cancelled Ending Balance Weighted Average Remaining Contractual Life (Years) Weighted Average Remaining Contractual Life (Years) Schedule of Finite-Lived Intangible Assets [Table] Finite-Lived Intangible Assets [Line Items] Summary of intangible assets Patents Less: net monetization obligations Imputed interest Subtotal Less: accumulated amortization Net value of intangible assets Weighted average amortization period (years) Year ended December 31, Remainder of 2020 2021 2022 2023 2024 and thereafter Total Current Liabilities: Purchase price of patents, current portion Unamortized discount Non-current liabilities: Purchase price of patents, long term Total current and non-current Effective interest rate of Amortized over 2-3 years Annual Bonus Compensation Description [Axis] Intangible Assets (Textual) Patents purchase price Patents useful lives Intangible assets, description Percentage of distribute net revenues Book value of intellectual property Amortization expense Percentage of net monetization proceeds from patents acquired Imputed interest Non-current minimum payment obligations Description of due term Effective interest rate of amortized periods Funding agreement, description Non-Controlling Interest [Abstract] Balance as of December 31, 2019 Net income attributable to non-controlling interest Balance as of September 30, 2020 Schedule of Related Party Transactions, by Related Party [Table] Related Party Transaction [Line Items] Related Party Transactions (Textual) Percentage of note Paid in interest amount Cost of information technology services Accrued liability Related party transaction, description Interest rate Loss Contingencies [Table] Loss Contingencies [Line Items] Commitments and Contingencies (Textual) Term of agreement, description Initial annual salary Officer's annual salary Annual bonus compensation, description Litigation fees, costs and expenses Third party funding source advanced for costs and expenses Compensation percentage Priority interest to third party Merger agreement, description Patent infringement Subsequent Events (Textual) Accrued interest on the notes Interest payment Amount paid to intelligent partners It represent advance net recoveries for the reporting period. Amortized and charged to interest expense. The description of annual bonus compensation to employees. The gross amount of contingent funding liabilities. Amount of contingent funding liabilities as of date. Contingent funding liability effective interest rate. Amount of debt discount to be amortized within one year or within the normal operating cycle, if longer. Description of minimum payments due under agreement. Discount of monetization agreement. Economic useful lives. Effective interest rate of amortization. Effective interest rate of amortized periods. Expected dividends to be paid to holders of the underlying shares or financial instruments (expressed as a percentage of the share or instrument's price). Period the instrument, asset or liability is expected to be outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Measure of dispersion, in percentage terms (for instance, the standard deviation or variance), for a given stock price. Risk-free interest rate assumption used in valuing an instrument. Finite lived intangible assets imputed interest. Finite lived intangible assets Subtotal. Disclosure of accounting policy for going concern. The amount of initial annual salary. Fair value of intellectual property. Tabular disclosure of investment. Amount of Licensing programs fund. Merger agreement, description. Negative working capital. The net amount of contingent funding liabilities. Net monetization obligations. Tabular disclosure of non-controlling interest. Non current minimum payment obligations. Ownership interest, description. Patents description. Percenatge of effective interest rate including discount. It represent percentage of net recoveries for the reporting period. It represent percentage of net monetization for the reporting period. percentage of patents acquired. It represent purchase price of patents current, current portion net of unamortized discount for the reporting period. Purchase price of patents non current. Purchase price of patents non current gross. Quest Packaging Solutions Corporation. Costs incurred in providing technology services. The services may include training, installation, engineering or consulting. Consulting services often include implementation support, software design or development, or the customization or modification of the licensed software. Term of employment agreement. Amount of total contingent funding liability. Total contingent funding liability remains. Intangible assets total current and non-current. Finite lived intangible asset weighted average amortization period. Wynn Technologies. Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Total costs related to goods produced and sold during the reporting period. The aggregate costs related to delivering management services during the reporting period. The increase (decrease) during the reporting period in accrued interest loans payable related party. The increase (decrease) during the reporting period in accrued interest loans payable third party. Cash inflow from repayment of sale of future revenues. Accounts payable for patent purchase. Cash paid during year ended. Net of imputed interest. The amount of income taxes including foreign taxing authorities withheld taxes. The amount of expenses incurred but not yet paid classified as other, due within one year or the normal operating cycle, if longer. Resolution of derivative liability. Additional interest payment . Amount of accrued interest on the notes. Amount paid to intelligent partners. Resolution of derivative liability. PaycheckProtectionProgramMember Assets, Current Assets [Default Label] Liabilities, Current Liabilities [Default Label] Stockholders' Equity Attributable to Parent Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest Liabilities and Equity Revenues [Default Label] Operating Expenses Operating Income (Loss) Interest Expense Nonoperating Income (Expense) Income Tax Expense (Benefit) Net Income (Loss) Attributable to Parent Shares, Outstanding Derivative, Gain (Loss) on Derivative, Net Increase (Decrease) in Accounts Receivable Increase Decrease In Accrued Interest Loans Payable Third Party Increase (Decrease) in Other Current Assets Net Cash Provided by (Used in) Operating Activities Payments to Acquire Intangible Assets Net Cash Provided by (Used in) Investing Activities Repayments of Related Party Debt Net Cash Provided by (Used in) Financing Activities Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect Due to Other Related Parties, Current Short-term Debt Debt Instrument, Unamortized Discount (Premium), Net Due to Related Parties, Noncurrent LoanPayableSba LoanPayableGross AccruedInterest NetLoansPayableSba Long-term Debt, Gross Debt Instrument, Unamortized Discount, Noncurrent Debt Instrument Unamortized Discount Cost Purchase Price Of Patents [Abstract] Debt Instrument, Face Amount Derivative Liability ResolutionOfDerivativesLiability Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term Net Monetization Obligations Finite Lived Intangible Assets Imputed Interest Finite-Lived Intangible Assets, Accumulated Amortization EX-101.PRE 11 qprc-20200930_pre.xml XBRL PRESENTATION FILE XML 12 R1.htm IDEA: XBRL DOCUMENT v3.20.2
Document and Entity Information - shares
9 Months Ended
Sep. 30, 2020
Nov. 16, 2020
Document and Entity Information [Abstract]    
Entity Registrant Name QUEST PATENT RESEARCH CORP  
Entity Central Index Key 0000824416  
Amendment Flag false  
Current Fiscal Year End Date --12-31  
Document Type 10-Q  
Document Period End Date Sep. 30, 2020  
Document Fiscal Period Focus Q3  
Document Fiscal Year Focus 2020  
Entity Current Reporting Status Yes  
Entity Filer Category Non-accelerated Filer  
Entity Small Business true  
Entity Shell Company false  
Entity Emerging Growth Company false  
Entity Common Stock, Shares Outstanding   383,038,334
Entity Filer Number 33-18099  
Entity Interactive Data Current Yes  
Entity Incorporation State Country Code NY  
XML 13 R2.htm IDEA: XBRL DOCUMENT v3.20.2
Unaudited Consolidated Balance Sheets - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 91,879 $ 537,198
Accounts receivable 1,850,667 1,850,375
Other current assets 9,647 17,180
Total current assets 1,952,193 2,404,753
Patents, net of accumulated amortization of $2,127,530 and $1,617,762 respectively 2,339,586 2,754,354
Total assets 4,291,779 5,159,107
Current liabilities:    
Accounts payable and accrued liabilities 2,714,721 3,362,932
Accrued liabilities – related party 564,050
Loans payable - third party 147,000 147,000
Purchase price of patents, current portion, net of unamortized discount of $0 975,000 569,386
Loan payable – related party, net of unamortized discount and debt issuance costs of $0 and $189,705, respectively 4,672,810 4,483,105
Accrued interest - loan payable related party 117,780 117,780
Accrued interest - loans payable third party 281,210 270,185
Derivative liability 595,000
Total current liabilities 9,472,571 9,545,388
Non-current liabilities    
Contingent funding liabilities 20,378 20,378
Loans payable - SBA 172,974
Purchase price of patents, net of unamortized discount of $155,019 and $282,503, respectively 1,159,981 1,442,497
Total liabilities 10,825,904 11,008,263
Stockholders' deficit:    
Preferred stock - par value $.00003 per share - authorized 10,000,000 Shares - no shares issued and outstanding
Common stock, par value $0.00003 per share; authorized 10,000,000,000 shares and 10,000,000,000 at September 30, 2020 and December 31, 2019; shares issued and outstanding 383,038,334 at September 30, 2020 and December 31, 2019 11,491 11,491
Additional paid-in capital 14,427,782 14,107,782
Accumulated deficit (20,973,631) (19,968,668)
Total Quest Patent Research Corporation deficit (6,534,358) (5,849,395)
Non-controlling interest in subsidiary 233 239
Total stockholders' deficit (6,534,125) (5,849,156)
Total liabilities and stockholders' deficit $ 4,291,779 $ 5,159,107
XML 14 R3.htm IDEA: XBRL DOCUMENT v3.20.2
Unaudited Consolidated Balance Sheets (Parenthetical) - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Statement of Financial Position [Abstract]    
Patents, net of accumulated amortization $ 2,127,530 $ 1,617,762
Purchase price of patents, current portion, net of unamortized discount
Loan payable - related party unamortized discount, current 0 189,705
Purchase price of patents unamortized discount $ 155,019 $ 282,503
Preferred stock, par value $ 0.00003 $ 0.00003
Preferred stock, shares authorized 10,000,000 10,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value $ 0.00003 $ 0.00003
Common stock, shares authorized 10,000,000,000 10,000,000,000
Common stock, shares issued 383,038,334 383,038,334
Common stock, shares outstanding 383,038,334 383,038,334
XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Unaudited Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Patent licensing fees $ 3,404,985 $ 640,000 $ 5,488,088 $ 2,002,418
Licensed packaging sales 25,274
Total revenue 3,404,985 640,000 5,488,088 2,027,692
Cost of revenue:        
Cost of sales 4,520
Litigation and licensing expenses 2,996,416 555,474 4,714,406 1,400,003
Management support services 150 1,793
Selling, general and administrative expenses 301,853 302,574 1,213,151 945,601
Total operating expenses 3,298,269 858,198 5,927,557 2,351,917
Income /(loss) from operations 106,716 (218,198) (439,469) (324,225)
Other Income and (expenses)        
Gain/(loss) on derivative liability 175,000 290,000 275,000 (270,000)
Other income 1,000 1,000
Interest expense (233,101) (216,336) (776,137) (590,828)
Total other income (expenses) (57,101) 73,664 (500,137) (860,828)
Net income (loss) before income tax 49,615 (144,534) (939,606) (1,185,053)
Income tax (65,363) (225)
Net income/(loss) 49,615 (144,534) (1,004,969) (1,185,278)
Net (income)/loss attributable to non-controlling interest in subsidiaries 6 (347) 6 1,558
Net income/(loss) attributable to Quest Patent Research Corporation $ 49,621 $ (144,881) $ (1,004,963) $ (1,183,720)
Income (loss) per share basic and diluted $ 0 $ 0 $ 0 $ 0
Weighted average shares outstanding - basic and diluted 383,038,334 383,038,334 383,038,334 383,038,334
XML 16 R5.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Changes in Stockholders' Deficit - USD ($)
Common Stock
Additional Paid-in Capital
Deficit
Non-controlling Interest in Subsidiaries
Total
Beginning Balance at Dec. 31, 2018 $ 11,491 $ 14,107,782 $ (18,659,892) $ 1,758 $ (4,538,861)
Beginning Balance, shares at Dec. 31, 2018 383,038,334        
Net loss (539,809) (259) (540,068)
Ending Balance at Mar. 31, 2019 $ 11,491 14,107,782 (19,199,701) 1,499 (5,078,929)
Ending Balance, shares at Mar. 31, 2019 383,038,334        
Beginning Balance at Dec. 31, 2018 $ 11,491 14,107,782 (18,659,892) 1,758 (4,538,861)
Beginning Balance, shares at Dec. 31, 2018 383,038,334        
Net loss         (1,185,278)
Ending Balance at Sep. 30, 2019 $ 11,491 14,107,782 (19,843,612) 200 (5,724,139)
Ending Balance, shares at Sep. 30, 2019 383,038,334        
Beginning Balance at Mar. 31, 2019 $ 11,491 14,107,782 (19,199,701) 1,499 (5,078,929)
Beginning Balance, shares at Mar. 31, 2019 383,038,334        
Net loss (499,030) (1,646) (500,676)
Ending Balance at Jun. 30, 2019 $ 11,491 14,107,782 (19,698,731) (147) (5,579,605)
Ending Balance, shares at Jun. 30, 2019 383,038,334        
Net loss (144,881) 347 (144,534)
Ending Balance at Sep. 30, 2019 $ 11,491 14,107,782 (19,843,612) 200 (5,724,139)
Ending Balance, shares at Sep. 30, 2019 383,038,334        
Beginning Balance at Dec. 31, 2019 $ 11,491 14,107,782 (19,968,668) 239 (5,849,156)
Beginning Balance, shares at Dec. 31, 2019 383,038,334        
Net loss (682,798) (682,798)
Ending Balance at Mar. 31, 2020 $ 11,491 14,107,782 (20,651,466) 239 (6,531,954)
Ending Balance, shares at Mar. 31, 2020 383,038,334        
Beginning Balance at Dec. 31, 2019 $ 11,491 14,107,782 (19,968,668) 239 (5,849,156)
Beginning Balance, shares at Dec. 31, 2019 383,038,334        
Resolution of derivative liability         320,000
Net loss         (1,004,969)
Ending Balance at Sep. 30, 2020 $ 11,491 14,427,782 (20,973,631) 233 (6,534,125)
Ending Balance, shares at Sep. 30, 2020 383,038,334        
Beginning Balance at Mar. 31, 2020 $ 11,491 14,107,782 (20,651,466) 239 (6,531,954)
Beginning Balance, shares at Mar. 31, 2020 383,038,334        
Net loss (371,786) (371,786)
Ending Balance at Jun. 30, 2020 $ 11,491 14,107,782 (21,023,252) 239 (6,903,740)
Ending Balance, shares at Jun. 30, 2020 383,038,334        
Resolution of derivative liability   320,000     320,000
Net loss 49,621 (6) 49,615
Ending Balance at Sep. 30, 2020 $ 11,491 $ 14,427,782 $ (20,973,631) $ 233 $ (6,534,125)
Ending Balance, shares at Sep. 30, 2020 383,038,334        
XML 17 R6.htm IDEA: XBRL DOCUMENT v3.20.2
Unaudited Consolidated Statement of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net loss $ (1,004,969) $ (1,185,278)
Adjustments to reconcile net loss to net cash provided by/(used in) operating activities:    
Amortization of debt discount 412,189 254,133
(Gain)/loss on derivative liability (275,000) 270,000
Depreciation and amortization 509,768 388,402
Changes in operating assets and liabilities:    
Accounts receivable (292) (524,897)
Accrued interest - loans payable related party (25,000)
Accrued interest - loans payable third party 12,267 12,225
Other current assets 7,533 (17,467)
Accounts payable and accrued expenses (84,161) 1,235,971
Net cash provided by/(used in) operating activities (422,665) 408,089
Cash flows from investing activities:    
Purchase of patents (95,000) (75,000)
Net cash used in investing activities (95,000) (75,000)
Cash flows from financing activities:    
Proceeds from sale of future revenue 95,000  
Proceeds from SBA loans 171,732
Repayment of purchase price of patents (194,386) (155,614)
Net cash provided by/(used in) financing activities 72,346 (155,614)
Net increase (decrease) in cash and cash equivalents (445,319) 177,475
Cash and cash equivalents at beginning of period 537,198 166,911
Cash and cash equivalents at end of period 91,879 344,386
Non-cash investing and financing activities    
Accounts payable for patent purchase, net of imputed interest of $336,781 1,238,219
Resolution of derivative liability 320,000  
Supplemental disclosure of cash flow information:    
Income taxes, including foreign taxing authorities withheld taxes of $65,363 and $225 during the periods ended September 30, 2020, and 2019 respectively. 65,363 225
Interest $ 350,000 $ 349,500
XML 18 R7.htm IDEA: XBRL DOCUMENT v3.20.2
Unaudited Consolidated Statement of Cash Flows (Parenthetical) - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Statement of Cash Flows [Abstract]    
Net of imputed interest $ 336,781  
Foreign taxing authorities withheld taxes $ 65,363 $ 225
XML 19 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Description of Business and Basis of Presentation
9 Months Ended
Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION

NOTE 1 – DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION

 

The Company is a Delaware corporation, incorporated on July 17, 1987 and has been engaged in the intellectual property monetization business since 2008.

 

As used herein, the "Company" refers to Quest Patent Research Corporation and its wholly-owned and majority-owned and controlled operating subsidiaries unless the context indicates otherwise. All intellectual property acquisition, development, licensing and enforcement activities are conducted by the Company's operating subsidiaries.

 

The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the US (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these interim financial statements do not include all of the information and notes required by GAAP for complete financial statements. All adjustments (consisting of normal recurring items) necessary to present fairly the Company's consolidated financial position have been included. These interim financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2019. Operating results for the interim periods presented herein are not necessarily indicative of the results that may be expected for any other interim period or for the entire year. Reclassifications have been made to conform with the current year presentation.

XML 20 R9.htm IDEA: XBRL DOCUMENT v3.20.2
Summary of Significant Accounting Policies
9 Months Ended
Sep. 30, 2020
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Principles of consolidation and financial statement presentation

 

The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles ("US GAAP") and present the consolidated financial statements of the Company and its wholly-owned and majority-owned subsidiaries as of September 30, 2020.

 

The consolidated financial statements include the accounts and operations of:

 

  Quest Patent Research Corporation ("the Company")
   
  Quest Licensing Corporation (NY) (wholly owned)
   
  Quest Licensing Corporation (DE) (wholly owned)
   
  Quest Packaging Solutions Corporation (90% owned)
   
  Quest Nettech Corporation (65% owned)
   
  Semcon IP, Inc. (wholly owned)
   
  Mariner IC, Inc. (wholly owned)
   
  IC Kinetics, Inc. (wholly owned)
   
  CXT Systems, Inc. (wholly owned)
   
  Photonic Imaging Solutions Inc. (wholly owned)
   
  M-RED Inc. (wholly owned)

 

Prior to April 2019, the operations of Wynn Technologies, Inc. were not included in the Company's consolidated financial statements as there were significant contingencies related to its control of Wynn Technologies, Inc. The sole asset of Wynn Technologies, Inc. was US Patent No. RE38,137E. Wynn Technologies, Inc. could not transfer, assign, sell, hypothecate or otherwise encumber US Patent No. RE38,137E without the express written consent of the owner of 35% of Wynn Technologies, Inc., unless, as of the date of such transfer, assignment, sale, hypothecation or other encumbrance, the owner had received a total of at least $250,000. US Patent No. RE38,137E expired on September 28, 2015. The Company accounted for its 65% interest in Wynn Technologies, Inc. under the equity method whereby the investment accounts were increased for contributions by the Company plus its 60% share of income pursuant to the contractual agreement which provides that the holder of 35% of the stock of Wynn Technologies, Inc. retained 40% of the income, and reduced for distributions and its 60% share of losses incurred, respectively, with the restriction whereby the account balances cannot go below zero. On April 11, 2019, Wynn Technologies, Inc. merged into Quest NetTech Corporation with Quest NetTech Corporation being the surviving entity. Pursuant to the merger agreement, Quest NetTech Corporation issued a 35% interest to the former 35% stockholder of Wynn Technologies, Inc.

  

Significant intercompany transaction and balances have been eliminated in consolidation.

 

Use of Estimates

 

In preparing financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenue and expenses during the reporting period. Actual results could differ from those estimates.

 

Intangible Assets

 

Intangible assets consist of patents which are amortized using the straight-line method over their estimated useful lives or statutory lives whichever is shorter and are reviewed for impairment upon any triggering event that may give rise to the assets ultimate recoverability as prescribed under the guidance related to impairment of long-lived assets. Costs incurred to acquire patents, including legal costs, are also capitalized as long-lived assets and amortized on a straight-line basis with the associated patent.

 

Patents include the cost of patents or patent rights (hereinafter, collectively "patents") acquired from third-parties or acquired in connection with business combinations. Patent acquisition costs are amortized utilizing the straight-line method over their remaining economic useful lives, ranging from one to ten years. Certain patent application and prosecution costs incurred to secure additional patent claims that, based on management's estimates are deemed to be recoverable, are capitalized and amortized over the remaining estimated economic useful life of the related patent portfolio.

 

Derivative Financial Instruments

 

The Company evaluates the embedded conversion feature within its convertible debt instruments under ASC 815-15 and ASC 815-40 to determine if the conversion feature meets the definition of a liability and, if so, whether to bifurcate the conversion feature and account for it as a separate derivative liability. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based derivative financial instruments, the Company uses a Black Scholes model, in accordance with ASC 815-15 "Derivative and Hedging" to value the derivative instruments at inception and on subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether net-cash settlement of the derivative instrument could be required within 12 months after the balance sheet date.

 

Fair value of financial instruments

 

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. A fair value hierarchy is used which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. See Note 4 for information about derivative liabilities.

 

The fair value hierarchy based on the three levels of inputs that may be used to measure fair value are as follows:

 

  Level 1 – Quoted prices in active markets for identical assets or liabilities.

 

  Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

 

  Level 3 – Unobservable inputs that are supported by little or no market activity and that are financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation.

 

The carrying value reflected in the consolidated balance sheets for cash and cash equivalents, accounts receivable, accounts payable and accrued expenses and short-term borrowings approximate fair value due to the short-term nature of these items.

 

Income Tax

 

The Company records revenues on a gross basis, before deduction for income taxes. The Company incurred foreign income tax expenses of approximately $0 and $65,000 for the three and nine months ended September 30, 2020, respectively, and approximately $0 and approximately $225 for the three and nine months ended September 30, 2019, respectively.

 

Inventor/Former Owner Royalties and Contingent Legal/Litigation Finance Expenses

 

In connection with the investment in certain patents and patent rights, certain of the Company's operating subsidiaries may execute related agreements which grant to the inventors and/or former owners of the respective patents or patent rights, the right to receive a percentage of future net revenues (as defined in the respective agreements) generated as a result of licensing and otherwise enforcing the respective patents or patent portfolios.

 

The Company's operating subsidiaries may retain the services of law firms that specialize in patent licensing and enforcement and patent law in connection with their licensing and enforcement activities. These law firms may be retained on a contingent fee basis whereby such law firms are paid a percentage of any negotiated fees, settlements or judgments awarded.

 

The Company's operating subsidiaries may engage with funding sources that provide financing for patent licensing and enforcement. These litigation finance firms may be engaged on a non-recourse basis whereby such litigation finance firms are paid a percentage of any negotiated fees, settlements or judgments awarded in exchange for providing funding for legal fees and out of pocket expenses incurred as a result of the licensing and enforcement activities.

 

The economic terms of the inventor agreements, operating agreements, contingent legal fee arrangements and litigation financing agreements associated with the patent portfolios owned or controlled by the Company's operating subsidiaries, if any, including royalty rates, contingent fee rates and other terms, vary across the patent portfolios owned or controlled by such operating subsidiaries. Inventor/former owner royalties, payments to non-controlling interests, contingent legal fees expenses and litigation finance expenses fluctuate period to period, based on the amount of revenues recognized each period, the terms and conditions of revenue agreements executed each period and the mix of specific patent portfolios with varying economic terms and obligations generating revenues each period. Inventor/former owner royalties, contingent legal fees expenses and litigation finance expenses will continue to fluctuate and may continue to vary significantly period to period, based primarily on these factors.

 

Revenue Recognition

 

The Company recognizes revenue in accordance with ASC Topic 606, "Revenue from Contracts with Customers". Revenue is recognized when control of the promised goods or services is transferred to customers at an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. Under Topic 606, revenue is recognized when there is a contract which has commercial substance which is approved by both parties and identifies the rights of the parties and the payment terms. The Company adopted Topic 606 as of January 1, 2018 using the modified retrospective transition method, with no impact on the consolidated financial position or results of operations.

 

Recent Accounting Pronouncements

 

Management does not believe that there are any recently issued, but not effective, accounting standards which, if currently adopted, would have a material effect on the Company's financial statements.

 

Going Concern

 

As shown in the accompanying financial statements, the Company has an accumulated deficit of approximately $20,974,000 and negative working capital of approximately $7,520,000 as of September 30, 2020. Because of the Company's continuing losses, its working capital deficiency, the uncertainty of future revenue, the Company's obligations to Intellectual Ventures and Intelligent Partners, as transferee of United Wireless, the Company's low stock price and the absence of a trading market in its common stock, the ability of the Company to raise funds in equity market or from lenders is severely impaired. These conditions, together with the effects of the COVID-19 pandemic and the steps taken by the states to slow the spread of the virus and its effect on its business raise substantial doubt as to the Company's ability to continue as a going concern. Although the Company may seek to raise funds and to obtain third party funding for litigation to enforce its intellectual property rights, the availability of such funds, particularly in view of the COVID-19 pandemic, is uncertain. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. The Company is in default on payment of principal and interest on its convertible notes due September 30, 2020 in the principal amount of $4,672,812. Accrued interest on the notes was $117,780. The Company has obtained a standstill agreement of the noteholder until November 13, 2020. In connection with the standstill agreement, the Company paid the $117,780 interest accrued at September 30, 2020, and, in connection with an extension of the standstill to November 13, 2020, the Company paid additional interest through the standstill period of $20,000. Although the Company is in negotiations with the noteholder with respect to a restructure of the note and other payment agreements between the noteholder and the Company, it can give no assurance that the negotiations will result in a revised agreement. The failure of the Company to negotiate an acceptable restructure of the agreement could materially and adversely affect the ability of the Company to continue in business, and it may be necessary for the Company to seek protection under the Bankruptcy Act.

XML 21 R10.htm IDEA: XBRL DOCUMENT v3.20.2
Short-term Debt and Long-term Liabilities
9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]  
SHORT-TERM DEBT AND LONG-TERM LIABILITIES

NOTE 3 – SHORT-TERM DEBT AND LONG-TERM LIABILITIES

 

The following table shows the Company's short-term and long-term debt at September 30, 2020 and December 31, 2019.

 

   September 30,   December 31, 
   2020   2019 
Short-term debt:        
Loans payable – third party   $147,000   $147,000 
Purchase price of patents – current portion   975,000    569,386 
Net short-term debt   1,122,000    716,386 
           
Loan payable – related party          
Gross   4,672,810    4,672,810 
Accrued Interest   117,780    117,780 
Unamortized discount   -    (189,705)
Net loans payable – related party  $4,790,590   $4,600,885 
Long-term liabilities:          
Loans payable - SBA          
Gross  $170,832    - 
Accrued Interest   2,142    - 
Net loans payable SBA   172,974    - 
Purchase price of patents          
Gross   1,315,000    1,725,000 
Unamortized discount   (155,019)   (282,503)
Net purchase price of patents – long-term  $1,159,981   $1,442,497 
Contingent funding liabilities:          
Gross   20,378    20,378 
Net contingent funding liabilities  $20,378   $20,378 

 

Loan payables:

 

The loan payable – third party represents unsecured demand loans made by former officers and directors, who are unrelated third parties at September 30, 2020, and December 31, 2019, in the amount of $147,000. The loans are payable on demand plus accrued interest at 10% per annum. These third parties are also stockholders, but their stockholdings are not significant.

 

The loan payable – related party at September 30, 2020 represents the principal amount of the Company's 10% secured convertible note to Intelligent Partners, LLC ("Intelligent Partners") as transferee of the secured convertible notes issued to United Wireless Holdings, Inc. ("United Wireless"), in the amount of $4,672,810 pursuant to securities purchase agreement dated October 22, 2015 between the Company and United Wireless, as more fully described in the Company's financial statements for the year ended December 31, 2019. The notes payable to Intelligent Partners, as transferee of United Wireless, are classified as a current liability as of September 30, 2020 and December 31, 2019. The notes became due by their terms on September 30, 2020, and the Company did not make any payment on account of principal of and interest on the notes on that date. See Note 10 for information with respect to current status of the notes payable to Intelligent Partners.

 

Interest on all notes issued pursuant to the securities purchase agreement, accrued through September 30, 2018, with accrued interest being added to principal on September 30, 2016, 2017 and 2018. On September 30, 2018, approximately $395,459 of accrued interest was added to principal. Since September 30, 2018, the Company has been required to pay interest quarterly. For the three and nine months ended September 30, 2020, the Company paid approximately $117,000 and 350,000 in interest, respectively, on these loans.

 

Because of its right to elect a director of the Company, United Wireless is treated as a related party. Prior to the securities purchase agreement with United Wireless, the Company had no relationship with United Wireless.

  

Long term liabilities

 

The loans payable-SBA at September 30, 2020 represents:

 

  An unsecured loan from JPMorgan Chase Bank, N.A. in the aggregate amount of $20,832, pursuant to the Paycheck Protection Program (the "PPP") under Division A, Title I of the Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, which was enacted March 27, 2020. The loan, which was taken down on April 23, 2020, matures on April 23, 2022 and bears interest at a rate of 0.98% per annum, with interest payable monthly commencing on November 23, 2020. The loan may be prepaid by the Company at any time prior to maturity with no prepayment penalties. Funds from the loan may only be used for payroll costs, costs used to continue group health care benefits, mortgage payments, rent, utilities, and interest on other debt obligations incurred before February 15, 2020. The Company has used the entire loan amount for qualifying expenses. Under the terms of the PPP, certain amounts of the loan may be forgiven if they are used for qualifying expenses as described in the CARES Act.

 

  A secured Economic Injury Disaster Loan from the U.S. Small Business Association ("SBA") in the aggregate amount of $150,000, pursuant to Section 7(b) of the Small Business Act as part of the COVID-19 relief effort. The Company's obligations on the loan are set forth in the Company's note dated May 14, 2020 which matures on May 14, 2050 and bears interest at a rate of 3.75% per annum, payable monthly commencing on May 14, 2021. The Note may be prepaid by the Company at any time prior to maturity with no prepayment penalties. Funds from the Loan may be used solely as working capital to alleviate economic injury caused by disaster occurring in the month of January 31, 2020 and continuing thereafter and to pay Uniform Commercial Code (UCC) lien filing fees and a third-party UCC handling charge of $100 which were deducted from the loan amount stated above. In addition to the loan, as part of the COVID-19 relief effort, the Company obtained an Emergency EIDL Grant from the SBA in the amount of $1,000. The Company is not required to repay the grant.

 

The purchase price of patents at September 30, 2020 represents:

 

  the minimum payments due under the agreement between CXT Systems, Inc. ("CXT"), a wholly owned subsidiary, and IV 34/37 pursuant to which at closing CXT acquired by assignment all right, title, and interest in a portfolio of fourteen United States patents, five foreign patents and six related applications (the "CXT Portfolio"). Under the agreement, CXT will distribute 50% of net recoveries, as defined, to IV 34/37. CXT advanced $25,000 to IV 34/37 at closing, and agreed that in the event that, on December 31, 2018, December 31, 2019 and December 31, 2020, cumulative distributions to IV 34/37 total less than $100,000, $375,000 and $975,000, respectively, CXT shall pay the difference necessary to achieve the applicable minimum payment amount within ten days after the applicable date; with any advances being credited toward future distributions to IV 34/36. As of September 30, 2020, $600,000 of the minimum future cumulative distributions were presented as short-term debt based on the payment due date. No affiliate of CXT has guaranteed the minimum payments. CXT's obligations under the agreement are secured by a security interest in the proceeds (from litigation or otherwise) from the CXT Portfolio. During the nine-months ended September 30, 2020, the Company paid the $194,386 liability that was classified as a short-term liability as of December 31, 2019.

 

  The non-current portion of minimum payments due under the agreement between M-RED Inc. ("M-RED"), a wholly owned subsidiary and Intellectual Ventures Assets 113 LLC and Intellectual Ventures Assets 108 LLC ("IV 113/108") pursuant to which M-RED paid IV 113/108 $75,000 and IV 113/108 transferred to M-RED all right, title and interest in a portfolio of sixty United States patents and eight foreign patents (the "M-RED Portfolio"). Under the agreement, M-RED is to distribute 50% of net proceeds, as defined, to IV 113/108, as long as the Company generates revenue from the M-RED Portfolio. The agreement with IV 113/108 provides that if, on September 30, 2020, September 30, 2021 and September 30, 2022, cumulative distributions to IV 113/108 total less than $450,000, $975,000 and $1,575,000, respectively, M-RED shall pay the difference between such cumulative amounts and the amount paid to IV 113/108 within ten days after the applicable date. The $75,000 initial payment is treated as an advance against the first distributions of net proceeds payable to IV 113/108. As of September 30, 2020, $1,125,000 and $375,000 of the minimum future cumulative distributions were presented as long-term and short-term debt, respectively, based on payment due dates. Neither the Company nor any of its affiliates has guaranteed the minimum payments. M-RED's obligations under the agreement with IV 113/108 are secured by a security interest in the proceeds (from litigation or otherwise) from the M-RED Portfolio.

  

  The non-current portion of our obligations under the unsecured non-recourse funding agreement with a third-party funder entered into in May 2020 whereby the third-party agreed to provide acquisition funding in the amount of $95,000 for the Company's acquisition of the audio messaging portfolio. Under the funding agreement, the third party funder is entitled to a priority return of funds advanced from net proceeds. as defined, recovered until the funder has received $190,000. The Company has no other obligation to the third party and has no liability to the funder in the event that the Company does not generate net proceeds. Pursuant to ASC 470, the company recorded this monetization obligation as debt and the difference between the purchase price and total obligation as a discount to the debt and fully expensed to interest during the period.

 

The contingent funding liabilities at September 30, 2020 represents:

 

 

the non-current portion of our obligations under the unsecured non-recourse litigation funding agreement with a third-party litigation funder entered into in December 2018 whereby the third-party agreed to provide litigation funding in the amount of $150,000 to the Company to enable the Company to support its structured licensing programs for the CMOS and M-RED portfolios. Under the funding agreement, the third party receives a priority interest in the proceeds from the programs that are payable to the Company, and the Company has no other obligation to the third party.

 

The Company's relationship with the funding source meets the criteria in ASC 470-10-25 - Sales of Future Revenues or Various Other Measures of Income ("ASC 470"), which relates to cash received from a funding source in exchange for a specified percentage or amount of revenue or other measure of income of a particular product line, business segment, trademark, patent, or contractual right for a defined period. Under this guidance, the Company recognized the fair value of its contingent obligation to the funding source, as of the acquisition date, as long-term debt in its consolidated balance sheet. This initial fair value measurement is based on the perspective of a market participant and includes significant unobservable inputs which are classified as Level 3 inputs within the fair value hierarchy and are discussed further within Note 2. At each subsequent reporting period, the Company will measure the long-term debt at fair value based on the discounted expected future cash flows over the life of the obligation. The Company's repayment obligations are contingent upon future patent licensing fee revenues generated from the licensing programs.

 

Under ASC 470, amounts recorded as debt shall be amortized under the interest method. The Company made an accounting policy election to utilize the prospective method when there is a change in the estimated future cash flows, whereby a new effective interest rate is determined based on the revised estimate of remaining cash flows. The new rate is the discount rate that equates the present value of the revised estimate of remaining cash flows with the carrying amount of the debt, and it will be used to recognize interest expense for the remaining periods. Under this method, the effective interest rate is not constant, and any change in expected cash flows is recognized prospectively as an adjustment to the effective yield. As of September 30, 2020, the total contingent funding liability was approximately $20,000, and the effective interest rate was approximately 8.5%. This rate represents the discount rate that equates the estimated future cash flows with the fair value of the debt and is used to compute the amount of interest to be recognized each period. Any future payments made to the funding source will decrease the long-term debt balance accordingly. For the period ended September 30, 2020, the amortization amount is deemed immaterial.

XML 22 R11.htm IDEA: XBRL DOCUMENT v3.20.2
Derivative Liabilities
9 Months Ended
Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE LIABILITIES

NOTE 4 – DERIVATIVE LIABILITIES

 

Because there is not a fixed conversion price, remaining compliant with the authorized share requirement under the notes to Intelligent Partners is outside of the control of the Company. Because there is no set limit on the number of shares issuable under the notes if the notes become convertible, absent an increase in the stock price or an increase in authorized shares, there are potentially not enough authorized shares of common stock to satisfy the exercise of the Company's options, thus the Company determined that certain options qualify as derivative liabilities under ASC Topic 815. On January 22, 2016, the Company reclassified all non-employee warrants and options as derivative liabilities and revalued them at their fair values at each balance sheet date. Any change in fair value was recorded as other income (expense) for each reporting period at each balance sheet date.

 

As of September 30, 2020, and December 31, 2019, the aggregate fair value of the outstanding derivative liability was approximately $0 and $595,000, respectively. The underlying derivative expired unexercised on September 30, 2020, the derivative liability was resolved and credited back to additional paid in capital.

  

The Company estimated the fair value of the derivative liability using the Black-Scholes option pricing model using the following key assumptions during the period ended September 30, 2020 and December 31, 2019:

 

   Period Ended 
   September 30,   December 31, 
   2020   2019 
Volatility   261%   207-426%
Risk-free interest rate   0.20%   0.24%
Expected dividends   -%   -%
Expected term   -    1.75-4.70 

 

The following schedule summarizes the valuation of financial instruments at fair value in the balance sheets as of September 30, 2020 and December 31, 2019:

 

   Fair Value Measurements as of 
   September 30, 2020   December 31, 2019 
   Level 1   Level 2   Level 3   Level 1   Level 2   Level 3 
Assets                        
None  -   -   -   -   -   - 
Total assets   -    -    -    -    -    - 
                               
Liabilities                              
Option derivative liability   -    -    -    -    -    595,000 
Total liabilities  $-   $-   $-   $-   $-   $595,000 

 

The following table sets forth a reconciliation of changes in the fair value of derivative liabilities classified as Level 3 in the fair value hierarchy:

 

  

Significant
Unobservable
Inputs (Level 3)
as of
September 30,
2020

 
Beginning balance  $595,000 
Change in fair value   (275,000)
Resolution of derivative liability   (320,000)
Ending balance  $0
XML 23 R12.htm IDEA: XBRL DOCUMENT v3.20.2
Stockholders' Equity
9 Months Ended
Sep. 30, 2020
Equity [Abstract]  
STOCKHOLDERS' EQUITY

NOTE 5 – STOCKHOLDERS' EQUITY

 

No options were granted during the nine months ended September 30, 2020.

 

A summary of the status of the Company's stock options and changes is set forth below:

 

    Number of
Options
(#)
   Weighted
Average
Exercise
Price
($)
   Weighted
Average
Remaining
Contractual
Life
(Years)
 
Balance - December 31, 2019    50,000,000    0.03    0.75 
Granted    -    -    - 
Exercised    -    -    - 
Expired    (50,000,000)   0.03    - 
Cancelled    -    -    - 
Balance - September 30, 2020    -    -    -
XML 24 R13.htm IDEA: XBRL DOCUMENT v3.20.2
Intangible Assets
9 Months Ended
Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 6 – INTANGIBLE ASSETS

 

Intangible assets include patents purchased and are recorded based at their acquisition cost. Intangible assets consisted of the following:

 

           Weighted average 
   September 30,   December 31,   amortization period 
   2020   2019   (years) 
Patents  $5,690,000   $5,595,000    6.50 
Less: net monetization obligations   (509,811)   (509,811)     
Imputed interest   (713,073)   (713,073)     
Subtotal   4,467,116    4,372,116      
Less: accumulated amortization   (2,127,530)   (1,617,762)     
Net value of intangible assets  $2,339,586   $2,754,354    6.38 

 

Intangible assets are comprised of patents with estimated useful lives. The intangible assets at September 30, 2020 represent:

 

  patents acquired in October 2015 for a purchase price of $3,000,000, the useful lives of the patents, at the date of purchase, was 6-10 years;

 

  patents acquired in July 2017 pursuant to an obligation to distribute 50% of net revenues to IV 34/37, against which $25,000 was advanced at closing and provided that in the event that, on December 31, 2018, December 31, 2019 and December 31, 2020, cumulative distributions of 50% of net revenues to IV 34/37 total less than $100,000, $375,000 and $975,000, respectively, CXT shall pay the difference necessary to achieve the applicable minimum payment amount within ten days after the applicable date; with any advances being credited toward future distributions to IV 34/36; the useful lives of the patents, at the date of acquisition, was 5-6 years;

 

  patents (which were fully depreciated at the date of acquisition) acquired in January 2018 pursuant to an agreement with to Intellectual Ventures Assets 62 LLC and Intellectual Ventures Assets 71 LLC "(IV 62/71"), pursuant to which CXT has an obligation to distribute 50% of net revenues to IV 62/71 against which CXT advanced $10,000 at closing;

 

  patents acquired in January 2018 by Photonic Imaging Solutions Inc. ("PIS") from Intellectual Ventures Assets 64 LLC ("IV 64") pursuant to which PIS is to pay IV 64 (a) 70% of the first $1,500,000 of net revenue, (b) 30% of the next $1,500,000 of net revenue and (c) 50% of net revenue in excess of $3,000,000, against which PIS advanced $10,000 at closing; and

 

  patents acquired in March 2019 by M-Red Inc. ("M-Red") from Intellectual Ventures Assets 113 LLC and Intellectual Ventures 108 LLC ("IV 113/108") pursuant to which M-Red is obligated to distribute 50% of net revenues to IV 113/108, against which $75,000 was advanced at closing and provided that in the event that, on September 30, 2020, September 30, 2021 and September 30, 2022, cumulative distributions of 50% of net revenues to IV 113/108 total less than $450,000, $975,000 and $1,575,000, respectively, M-Red shall pay the difference necessary to achieve the applicable minimum payment amount within ten days after the applicable date; with any advances being credited toward future distributions to IV 113/108; the useful lives of the patents, at the date of acquisition, was approximately nine years; and

 

  patents (which were fully depreciated at the date of acquisition) acquired in May 2020 for a purchase price of $95,000 pursuant to an agreement with Texas Technology Ventures 2, LLP ("TTV"), pursuant to which of the Company retains the first $230,000 of net proceeds, as defined in the agreement, after which the company has an obligation to distribute 50% of net proceeds to TTV.

 

The Company amortizes the costs of intangible assets over their estimated useful lives on a straight-line basis. Costs incurred to acquire patents, including legal costs, are also capitalized as long-lived assets and amortized on a straight-line basis with the associated patent. Amortization of patents is included as a selling, general and administrative expense in the accompanying consolidated statements of operations.

  

The Company assesses intangible assets for any impairment to the carrying values. As of September 30, 2020, and December 31, 2019, management concluded that there was no impairment to the acquired assets. At September 30, 2020 and December 31, 2019, the book value of the Company's intellectual property was $2,339,586 and $2,754,354, respectively.

 

Amortization expense for patents comprised $509,768 and $529,486 for the nine months ended September 30, 2020 and the year ended December 31, 2019, respectively. Future amortization of intangible assets is as follows:

 

Year ended December 31,    
Remainder of 2020  $135,350 
2021   549,345 
2022   495,742 
2023   323,070 
2024 and thereafter   836,079 
Total  $2,339,586 

 

Pursuant to the securities purchase agreement dated October 22, 2015 between the Company and United Wireless, more fully described in the Company's Annual Report on Form 10-K for the year ended December 31, 2019, 15% of the net monetization proceeds from the patents acquired in October 2015 will be paid to Intelligent Partners, as transferee of United Wireless. This monetization obligation was recognized as a discount to the loan and amortized over the life of the loan using the effective interest method. In addition, the Company entered into a monetization agreement with United Wireless pursuant to which the Company agreed to pay United Wireless 7.5% of the net monetization proceeds from the patents acquired by CXT in July 2017. This obligation was recorded as an expense and is reflected in interest expense during the third quarter of 2017.

 

The Company granted Intellectual Ventures a security interest in the patents assigned to the Company as security for the payment of the balance of the purchase price. The security interest of Intellectual Ventures is senior to the security interest of Intelligent Partners, as successor to United Wireless, in the proceeds derived from such patents.

 

Pursuant to the funding agreement dated May 29, 2019 between the Company and the funding source, 100% of the net monetization proceeds due to the company from the audio messaging patents acquired in May 2020 will be paid to the funding source until the funding source receives $190,000. The monetization obligation, net of the $95,000 provided by the funding source, was recognized as a discount to the debt and fully amortized to interest expense during the period.

 

The balance of the purchase price of the patents is reflected as follows:

 

   September 30,
2020
    December 31,
2019
 
Current Liabilities:           
Purchase price of patents, current portion   975,000    $569,386 
Unamortized discount   -       
Non-current liabilities:           
Purchase price of patents, long term   1,315,000    $1,725,000 
Unamortized discount   (155,019)    (282,503)
Total current and non-current   2,134,981     2,011,883 
Effective interest rate of Amortized over 2-3 years   9.35%-14.45%    9.6-12.5%

 

Because the non-current minimum payment obligations are due over the next three years, the Company imputed interest at 10% per annum and the interest will be accreted up to the maturity date.

XML 25 R14.htm IDEA: XBRL DOCUMENT v3.20.2
Non-Controlling Interest
9 Months Ended
Sep. 30, 2020
Noncontrolling Interest [Abstract]  
NON-CONTROLLING INTEREST

NOTE 7 – NON-CONTROLLING INTEREST

 

The following table reconciles equity attributable to the non-controlling interest related to Quest Packaging Solutions Corporation.

 

Balance as of December 31, 2019  $239 
Net loss income attributable to non-controlling interest  $(6)
Balance as of September 30, 2020  $233
XML 26 R15.htm IDEA: XBRL DOCUMENT v3.20.2
Related Party Transactions
9 Months Ended
Sep. 30, 2020
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 8 – RELATED PARTY TRANSACTIONS

 

The Company has at various times entered into transactions with related parties, including officers, directors and major stockholders, wherein these parties have provided services, advanced or loaned money, or both, to the Company which was needed to support its daily operations. The Company discloses all related party transactions.

 

See Notes 3 and 6 in connection with transactions with United Wireless. During periods ended September 30, 2020 and 2019, the Company incurred interest expense on the Company's 10% notes issued to United Wireless pursuant to the securities purchase agreement dated October 22, 2015 more fully described in the Company's financial statements for the year ended December 31, 2019. On each of September 30, 2017 and 2018, accrued interest was added to the principal amount of the note. Subsequent to September 30, 2018, the Company is to pay interest quarterly. During the three and nine months ended September 30, 2020 the Company paid the amounts due of approximately $117,000 and 350,000 in interest, respectively, and the amounts due of approximately $117,000 and 350,000 for the three and nine months ended September 30, 2019, respectively.

 

See Note 9 with respect to the employment agreement with the Company's president and chief executive officer.

 

During the three and nine months ended September 30, 2020 and 2019, the Company contracted with an entity owned by the chief technology officer for the provision of information technology services to the Company. The cost of such services was approximately $115 and $320 for the three and nine months ended September 30, 2020, respectively, and approximately $115 and $350 for the three and nine months ended September 30, 2019, respectively.

 

During the three and nine months ended September 30, 2020, the Company contracted with a law firm more than 10 percent owned, but not controlled, by the father-in-law of the chief executive officer. The firm is engaged on a contingent fee basis and serves as escrow agent for the Company in connection with monetization of the Company's intellectual property rights. As of September 30, 2020 the Company recorded an accrued liability of approximately $564,000 in connection with the engagement. In prior periods, the Company engaged a firm at which the father-in-law of the chief executive was formerly a partner. Because his interest in the prior firm was less than 10%, the prior firm was not considered a related party in prior periods.

XML 27 R16.htm IDEA: XBRL DOCUMENT v3.20.2
Commitments and Contingencies
9 Months Ended
Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES

NOTE 9 – COMMITMENTS AND CONTINGENCIES

 

Employment Agreements

 

Pursuant to a restated employment agreement, dated November 30, 2014, with the Company's president and chief executive officer, the Company agreed to employ him as president and chief executive officer for a term of three years, commencing January 1, 2014, and continuing on a year-to-year basis unless terminated by either party on not less than 90 days' notice prior to the expiration of the initial term or any one-year extension. The agreement provides for an initial annual salary of $252,000, which may be increased, but not decreased, by the board or the compensation committee. In March 2016, the Company's board of directors increased the chief executive officer's annual salary to $300,000, effective January 1, 2016. The chief executive officer is entitled to a bonus if the Company meets or exceeds performance criteria established by the compensation committee. In August 2016, the Company's board of directors approved annual bonus compensation equal to 30% of the amount by which the Company's consolidated income before income taxes exceeds $500,000, but, if the Company is subject to the limitation on deductibility of executive compensation pursuant to Section 162(m) of the Internal Revenue Code, the bonus cannot exceed the amount which would be deductible pursuant to Section 162(m). The chief executive officer is also eligible to participate in any executive incentive plans which the Company may adopt.

 

On May 11, 2020, the board of directors adopted a Simplified Employee Pension – Individual Retirement Accounts Contribution Agreement for it employees pursuant to which the Company deposits to a SEP IRA account of its employees a percentage of the employee's compensation, subject to statutory limitations on the amount of the contribution. For 2020, the percentage was set at 19%. The Company has only one employee, its chief executive officer.

 

Inventor Royalties, Contingent Litigation Funding Fees and Contingent Legal Expenses

 

In connection with the investment in certain patents and patent rights, certain of the Company's operating subsidiaries executed agreements which grant to the former owners of the respective patents or patent rights, the right to receive inventor royalties based on future net revenues (as defined in the respective agreements) generated as a result of licensing and otherwise enforcing the respective patents or patent portfolios.

 

The Company's operating subsidiaries may engage third party funding sources to provide funding for patent licensing and enforcement. The agreements with the third party funding sources may provide that the funding source receive a portion of any negotiated fees, settlements or judgments. In certain instances, these third party funding sources are entitled to receive a significant percentage of any proceeds realized until the third party funder has recouped agreed upon amounts based on formulas set forth in the underlying funding agreement, which may reduce or delay and proceeds due to the Company.

 

The Company's operating subsidiaries may retain the services of law firms in connection with their licensing and enforcement activities. These law firms may be retained on a contingent fee basis whereby the law firms are paid on a scaled percentage of any negotiated fees, settlements or judgments awarded based on how and when the fees, settlements or judgments are obtained.

 

Depending on the amount of any recovery, it is possible that all the proceeds from a specific settlement may be paid to the funding source and legal counsel.

 

The economic terms of the inventor agreements, funding agreements and contingent legal fee arrangements associated with the patent portfolios owned or controlled by the Company's operating subsidiaries, if any, including royalty rates, proceeds sharing rates, contingent fee rates and other terms, vary across the patent portfolios owned or controlled by the operating subsidiaries. Inventor royalties, payments to noncontrolling interests, payments to third party funding providers and contingent legal fees expenses fluctuate period to period, based on the amount of revenues recognized each period, the terms and conditions of revenue agreements executed each period and the mix of specific patent portfolios with varying economic terms and obligations generating revenues each period. Inventor royalties, payments to third party funding sources and contingent legal fees expenses will continue to fluctuate and may continue to vary significantly period to period, based primarily on these factors.

 

In December 2018, the Company entered into an unsecured non-recourse funding agreement whereby a third party agreed to provide funds to the Company to enable the Company to support its structured licensing programs for the CMOS and M-RED portfolios. Under the funding agreement, the third party receives an interest in the proceeds from the programs, and the Company has no other obligation to the third party. As of September 30, 2020, the Company paid the third party approximately $130,000 under the agreement.

 

In May 2020, the Company entered into an unsecured non-recourse funding agreement whereby a third party agreed to provide funds for the acquisition of the audio messaging portfolio. Under the funding agreement, the third party receives a priority interest in the net proceeds, as defined in the agreement, from the program up to $190,000 and the Company has no other obligation to the third party and has no liability to the funder in the event that the Company does not generate net proceeds. See Note 3 for information with respect to the funding agreement.

 

Patent Enforcement and Other Litigation

 

Certain of the Company's operating subsidiaries are engaged in litigation to enforce their patents and patent rights. In connection with these patent enforcement actions, it is possible that a defendant may request and/or a court may rule that an operating subsidiary has violated statutory authority, regulatory authority, federal rules, local court rules, or governing standards relating to the substantive or procedural aspects of such enforcement actions. In such event, a court may issue monetary sanctions against the Company or its operating subsidiaries or award attorney's fees and/or expenses to a defendant(s), which could be material, and if required to be paid by the Company or its operating subsidiaries, could materially harm the Company's operating results and financial position and could result in a default under the Company's notes to Intelligent Partners, which are already in default as a result of the Company's failure to pay the notes on the September 30, 2020 maturity date. Since the operating subsidiaries do not have any assets other than the patents, and the Company does not have any available financial resources to pay any judgment which a defendant may obtain against a subsidiary, such a judgement may result in the bankruptcy of the subsidiary and/or the loss of the patents, which are the subsidiaries' only assets.

 

On January 19, 2017, the court in the Mobile Data Portfolio litigation granted the defendants' motion for summary judgment of non-infringement, On January 31, 2017, Quest Licensing Corporation filed a notice of appeal with the United States Court of Appeals for the Federal Circuit. Following the court's decision granting the defendant's motion for summary judgment, the defendants moved for an award of attorneys' fees under Section 285 of the Patent Act which provides that "the court in exceptional cases may award reasonable attorney fees to the prevailing party." On June 29, 2017, the defendants' motion for attorney fees in the Mobile Data litigation was denied, without prejudice and with leave to renew their motion thirty days from the decision of the appellate court on Quest Licensing Corporation's appeal. On June 8, 2018 the appellate court affirmed the lower court's decision. On June 9, 2018 Quest Licensing Corporation filed a petition for rehearing with the appellate court. On July 30, 2018 the appellate court denied Quest Licensing Corporations petition for rehearing. On March 27, 2019 the court in the Mobile Data Portfolio litigation denied the defendants' motion for attorney fees under Section 285 of the Patent Act.

  

In May 2018, CXT brought patent infringement suits in the United States District Court for the Eastern District of Texas against Stage Stores, Inc. In February 2020, Specialty Retailers, Inc. ("Specialty"), the parent company of Stage Stores, Inc., failed to make the final installment payment pursuant to the Settlement and License Agreement between Specialty and CXT. On March 31, 2020, CXT made a sealed motion with the Court to Reopen the Action and Enforce the Settlement Agreement. On May 1, 2020, CXT filed a sealed motion with the Court seeking Summary Judgment to Enforce the Settlement Agreement. On May 4, 2020, the Court granted the motion. On May 10, 2020 Specialty filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division. On May 16, 2020, CXT filed a proof of claim with the Bankruptcy Court. On May 20, 2020, the reopened District Court action was stayed automatically pending the outcome of the bankruptcy action.

 

In May 2018 CXT Systems brought patent infringement suits in the United States District Court for the Eastern District of Texas against J.C. Penney Company, Inc. ("JCP"). On April 20, 2020 the parties entered into a settlement and license agreement and the case was dismissed. On May 15, 2020 JCP filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division. On June 4, 2020, the CXT notified JCP of material breach of the settlement and license agreement for failure to make payment pursuant to the agreement. On May 16, 2020, CXT filed a proof of claim with the Bankruptcy Court.

XML 28 R17.htm IDEA: XBRL DOCUMENT v3.20.2
Subsequent Events
9 Months Ended
Sep. 30, 2020
Subsequent Events [Abstract]  
Subsequent Events

NOTE 10 – SUBSEQUENT EVENTS

 

At September 30, 2020, promissory notes in the aggregate principal amount of $4,672,810 payable to Intelligent Partners became due. At September 30, 2020, accrued interest on the notes was $117,780. The notes became due by their terms on September 30, 2020, and the Company did not make any payment on account of principal of and interest on the notes on that date.

 

On October 1, 2020, the Company entered into a standstill agreement with Intelligent Partners pursuant to which:

 

Intelligent Partners agreed that, provided that the Company pays Intelligent Partners $117,780 of accrued interest on the note by October 2, 2020, for a period commencing on October 1, 2020 until the earlier of (i) October 22, 2020 or (ii) the date of any action by any person (other than Intelligent Partners and its affiliates) relating to the assertion of a breach or default by the Company or any of its subsidiaries under any agreement to which the Company or any of its subsidiaries is a party (the "Standstill Period"), Intelligent Partners and any person acting on behalf of Intelligent Partners will forebear from taking any action to enforce any of the rights they have or may have under the Agreements between the Company and Intelligent Partners or under applicable law or otherwise in respect of or arising out of the failure by the Company to pay the principal on the notes on the maturity date thereof or as a result of any defaults or alleged defaults by the Company or any subsidiary of the Company under any of the agreement between the Company and Intelligent Partners or under any applicable law or otherwise.

 

During the Standstill Period, the Company and Intelligent Partners will seek to negotiate a mutually agreeable restructure agreement which provides for restructure of the Company's obligations under the notes and a modification of its obligations under the Company's Agreements with Intelligent Partners.

 

On October 1, 2020, the Company made the $117,780 payment to Intelligent Partners. Pursuant to amendments to the standstill agreement, the Standstill Period was extended to October 27, 2020, October 31, 2020 and November 13, 2020. In connection with the third extension, the Company made a payment of $20,000 in full satisfaction of any interest accrued during the Standstill Period on the Company's note to Intelligent Partners.

 

The Company intends to negotiate in good faith with respect to a restructuring of its obligations to Intelligent Partners. However, the Company cannot give any assurance that it will be successful in negotiating a restructure. In the event the Company is not able to negotiate a restructure, it may not be able to continue in business and may be necessary for the Company to seek protection under the Bankruptcy Act.

XML 29 R18.htm IDEA: XBRL DOCUMENT v3.20.2
Summary of Significant Accounting Policies (Policies)
9 Months Ended
Sep. 30, 2020
Accounting Policies [Abstract]  
Principles of consolidation and financial statement presentation

Principles of consolidation and financial statement presentation

 

The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles ("US GAAP") and present the consolidated financial statements of the Company and its wholly-owned and majority-owned subsidiaries as of September 30, 2020.

 

The consolidated financial statements include the accounts and operations of:

 

  Quest Patent Research Corporation ("the Company")
   
  Quest Licensing Corporation (NY) (wholly owned)
   
  Quest Licensing Corporation (DE) (wholly owned)
   
  Quest Packaging Solutions Corporation (90% owned)
   
  Quest Nettech Corporation (65% owned)
   
  Semcon IP, Inc. (wholly owned)
   
  Mariner IC, Inc. (wholly owned)
   
  IC Kinetics, Inc. (wholly owned)
   
  CXT Systems, Inc. (wholly owned)
   
  Photonic Imaging Solutions Inc. (wholly owned)
   
  M-RED Inc. (wholly owned)

 

Prior to April 2019, the operations of Wynn Technologies, Inc. were not included in the Company's consolidated financial statements as there were significant contingencies related to its control of Wynn Technologies, Inc. The sole asset of Wynn Technologies, Inc. was US Patent No. RE38,137E. Wynn Technologies, Inc. could not transfer, assign, sell, hypothecate or otherwise encumber US Patent No. RE38,137E without the express written consent of the owner of 35% of Wynn Technologies, Inc., unless, as of the date of such transfer, assignment, sale, hypothecation or other encumbrance, the owner had received a total of at least $250,000. US Patent No. RE38,137E expired on September 28, 2015. The Company accounted for its 65% interest in Wynn Technologies, Inc. under the equity method whereby the investment accounts were increased for contributions by the Company plus its 60% share of income pursuant to the contractual agreement which provides that the holder of 35% of the stock of Wynn Technologies, Inc. retained 40% of the income, and reduced for distributions and its 60% share of losses incurred, respectively, with the restriction whereby the account balances cannot go below zero. On April 11, 2019, Wynn Technologies, Inc. merged into Quest NetTech Corporation with Quest NetTech Corporation being the surviving entity. Pursuant to the merger agreement, Quest NetTech Corporation issued a 35% interest to the former 35% stockholder of Wynn Technologies, Inc.

  

Significant intercompany transaction and balances have been eliminated in consolidation.

Use of Estimates

Use of Estimates

 

In preparing financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenue and expenses during the reporting period. Actual results could differ from those estimates.

Intangible Assets

Intangible Assets

 

Intangible assets consist of patents which are amortized using the straight-line method over their estimated useful lives or statutory lives whichever is shorter and are reviewed for impairment upon any triggering event that may give rise to the assets ultimate recoverability as prescribed under the guidance related to impairment of long-lived assets. Costs incurred to acquire patents, including legal costs, are also capitalized as long-lived assets and amortized on a straight-line basis with the associated patent.

 

Patents include the cost of patents or patent rights (hereinafter, collectively "patents") acquired from third-parties or acquired in connection with business combinations. Patent acquisition costs are amortized utilizing the straight-line method over their remaining economic useful lives, ranging from one to ten years. Certain patent application and prosecution costs incurred to secure additional patent claims that, based on management's estimates are deemed to be recoverable, are capitalized and amortized over the remaining estimated economic useful life of the related patent portfolio.

Derivative Financial Instruments

Derivative Financial Instruments

 

The Company evaluates the embedded conversion feature within its convertible debt instruments under ASC 815-15 and ASC 815-40 to determine if the conversion feature meets the definition of a liability and, if so, whether to bifurcate the conversion feature and account for it as a separate derivative liability. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based derivative financial instruments, the Company uses a Black Scholes model, in accordance with ASC 815-15 "Derivative and Hedging" to value the derivative instruments at inception and on subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether net-cash settlement of the derivative instrument could be required within 12 months after the balance sheet date.

Fair value of financial instruments

Fair value of financial instruments

 

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. A fair value hierarchy is used which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. See Note 4 for information about derivative liabilities.

  

The fair value hierarchy based on the three levels of inputs that may be used to measure fair value are as follows:

 

  Level 1 – Quoted prices in active markets for identical assets or liabilities.

 

  Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

 

  Level 3 – Unobservable inputs that are supported by little or no market activity and that are financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation.

 

The carrying value reflected in the consolidated balance sheets for cash and cash equivalents, accounts receivable, accounts payable and accrued expenses and short-term borrowings approximate fair value due to the short-term nature of these items.

Income Tax

Income Tax

 

The Company records revenues on a gross basis, before deduction for income taxes. The Company incurred foreign income tax expenses of approximately $0 and $65,000 for the three and nine months ended September 30, 2020, respectively, and approximately $0 and approximately $225 for the three and nine months ended September 30, 2019, respectively.

Inventor/Former Owner Royalties and Contingent Legal/Litigation Finance Expenses

Inventor/Former Owner Royalties and Contingent Legal/Litigation Finance Expenses

 

In connection with the investment in certain patents and patent rights, certain of the Company's operating subsidiaries may execute related agreements which grant to the inventors and/or former owners of the respective patents or patent rights, the right to receive a percentage of future net revenues (as defined in the respective agreements) generated as a result of licensing and otherwise enforcing the respective patents or patent portfolios.

 

The Company's operating subsidiaries may retain the services of law firms that specialize in patent licensing and enforcement and patent law in connection with their licensing and enforcement activities. These law firms may be retained on a contingent fee basis whereby such law firms are paid a percentage of any negotiated fees, settlements or judgments awarded.

 

The Company's operating subsidiaries may engage with funding sources that provide financing for patent licensing and enforcement. These litigation finance firms may be engaged on a non-recourse basis whereby such litigation finance firms are paid a percentage of any negotiated fees, settlements or judgments awarded in exchange for providing funding for legal fees and out of pocket expenses incurred as a result of the licensing and enforcement activities.

 

The economic terms of the inventor agreements, operating agreements, contingent legal fee arrangements and litigation financing agreements associated with the patent portfolios owned or controlled by the Company's operating subsidiaries, if any, including royalty rates, contingent fee rates and other terms, vary across the patent portfolios owned or controlled by such operating subsidiaries. Inventor/former owner royalties, payments to non-controlling interests, contingent legal fees expenses and litigation finance expenses fluctuate period to period, based on the amount of revenues recognized each period, the terms and conditions of revenue agreements executed each period and the mix of specific patent portfolios with varying economic terms and obligations generating revenues each period. Inventor/former owner royalties, contingent legal fees expenses and litigation finance expenses will continue to fluctuate and may continue to vary significantly period to period, based primarily on these factors.

Revenue Recognition

Revenue Recognition

 

The Company recognizes revenue in accordance with ASC Topic 606, "Revenue from Contracts with Customers". Revenue is recognized when control of the promised goods or services is transferred to customers at an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. Under Topic 606, revenue is recognized when there is a contract which has commercial substance which is approved by both parties and identifies the rights of the parties and the payment terms. The Company adopted Topic 606 as of January 1, 2018 using the modified retrospective transition method, with no impact on the consolidated financial position or results of operations.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

 

Management does not believe that there are any recently issued, but not effective, accounting standards which, if currently adopted, would have a material effect on the Company's financial statements.

Going Concern

Going Concern

 

As shown in the accompanying financial statements, the Company has an accumulated deficit of approximately $20,974,000 and negative working capital of approximately $7,520,000 as of September 30, 2020. Because of the Company's continuing losses, its working capital deficiency, the uncertainty of future revenue, the Company's obligations to Intellectual Ventures and Intelligent Partners, as transferee of United Wireless, the Company's low stock price and the absence of a trading market in its common stock, the ability of the Company to raise funds in equity market or from lenders is severely impaired. These conditions, together with the effects of the COVID-19 pandemic and the steps taken by the states to slow the spread of the virus and its effect on its business raise substantial doubt as to the Company's ability to continue as a going concern. Although the Company may seek to raise funds and to obtain third party funding for litigation to enforce its intellectual property rights, the availability of such funds, particularly in view of the COVID-19 pandemic, is uncertain. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. The Company is in default on payment of principal and interest on its convertible notes due September 30, 2020 in the principal amount of $4,672,812. Accrued interest on the notes was $117,780. The Company has obtained a standstill agreement of the noteholder until November 13, 2020. In connection with the standstill agreement, the Company paid the $117,780 interest accrued at September 30, 2020, and, in connection with an extension of the standstill to November 13, 2020, the Company paid additional interest through the standstill period of $20,000. Although the Company is in negotiations with the noteholder with respect to a restructure of the note and other payment agreements between the noteholder and the Company, it can give no assurance that the negotiations will result in a revised agreement. The failure of the Company to negotiate an acceptable restructure of the agreement could materially and adversely affect the ability of the Company to continue in business, and it may be necessary for the Company to seek protection under the Bankruptcy Act.

XML 30 R19.htm IDEA: XBRL DOCUMENT v3.20.2
Short-term Debt and Long-term Liabilities (Tables)
9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]  
Schedule of short-term and long-term debt

   September 30,   December 31, 
   2020   2019 
Short-term debt:        
Loans payable – third party   $147,000   $147,000 
Purchase price of patents – current portion   975,000    569,386 
Net short-term debt   1,122,000    716,386 
           
Loan payable – related party          
Gross   4,672,810    4,672,810 
Accrued Interest   117,780    117,780 
Unamortized discount   -    (189,705)
Net loans payable – related party  $4,790,590   $4,600,885 
Long-term liabilities:          
Loans payable - SBA          
Gross  $170,832    - 
Accrued Interest   2,142    - 
Net loans payable SBA   172,974    - 
Purchase price of patents          
Gross   1,315,000    1,725,000 
Unamortized discount   (155,019)   (282,503)
Net purchase price of patents – long-term  $1,159,981   $1,442,497 
Contingent funding liabilities:          
Gross   20,378    20,378 
Net contingent funding liabilities  $20,378   $20,378 

XML 31 R20.htm IDEA: XBRL DOCUMENT v3.20.2
Derivative Liabilities (Tables)
9 Months Ended
Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of fair value of derivative liability using black-scholes option pricing model

   Period Ended 
   September 30,   December 31, 
   2020   2019 
Volatility   261%   207-426%
Risk-free interest rate   0.20%   0.24%
Expected dividends   -    -%
Expected term   -    1.75-4.70 

Schedule of valuation of financial instruments
  Fair Value Measurements as of 
   September 30, 2020   December 31, 2019 
   Level 1   Level 2   Level 3   Level 1   Level 2   Level 3 
Assets                        
None  -   -   -   -   -   - 
Total assets   -    -    -    -    -    - 
                               
Liabilities                              
Option derivative liability   -    -    -    -    -    595,000 
Total liabilities  $-   $-   $-   $-   $-   $595,000 
Schedule of reconciliation of changes in fair value of derivative liabilities classified as Level 3
  

Significant
Unobservable
Inputs (Level 3)
as of
September 30,
2020

 
Beginning balance  $595,000 
Change in fair value   (275,000)
Resolution of derivative liability   (320,000)
Ending balance  $0 
XML 32 R21.htm IDEA: XBRL DOCUMENT v3.20.2
Stockholders' Equity (Tables)
9 Months Ended
Sep. 30, 2020
Equity [Abstract]  
Schedule of stock options
    Number of
Options
(#)
   Weighted
Average
Exercise
Price
($)
   Weighted
Average
Remaining
Contractual
Life
(Years)
 
Balance - December 31, 2019    50,000,000    0.03    0.75 
Granted    -    -    - 
Exercised    -    -    - 
Expired    (50,000,000)   0.03    - 
Cancelled    -    -    - 
Balance - September 30, 2020    -    -    - 
XML 33 R22.htm IDEA: XBRL DOCUMENT v3.20.2
Intangible Assets (Tables)
9 Months Ended
Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of intangible assets

           Weighted average 
   September 30,   December 31,   amortization period 
   2020   2019   (years) 
Patents  $5,690,000   $5,595,000    6.50 
Less: net monetization obligations   (509,811)   (509,811)     
Imputed interest   (713,073)   (713,073)     
Subtotal   4,467,116    4,372,116      
Less: accumulated amortization   (2,127,530)   (1,617,762)     
Net value of intangible assets  $2,339,586   $2,754,354    6.38 

Schedule of annual amortization expense

Year ended December 31,    
Remainder of 2020  $135,350 
2021   549,345 
2022   495,742 
2023   323,070 
2024 and thereafter   836,079 
Total  $2,339,586 

Schedule of purchase price of the patents

   September 30,
2020
    December 31,
2019
 
Current Liabilities:           
Purchase price of patents, current portion   975,000    $569,386 
Unamortized discount   -       
Non-current liabilities:           
Purchase price of patents, long term   1,315,000    $1,725,000 
Unamortized discount   (155,019)    (282,503)
Total current and non-current   2,134,981     2,011,883 
Effective interest rate of Amortized over 2-3 years   9.35%-14.45%    9.6-12.5%

XML 34 R23.htm IDEA: XBRL DOCUMENT v3.20.2
Non-Controlling Interest (Tables)
9 Months Ended
Sep. 30, 2020
Noncontrolling Interest [Abstract]  
Schedule of equity attributable to the non-controlling interest

Balance as of December 31, 2019  $239 
Net loss income attributable to non-controlling interest  $(6)
Balance as of September 30, 2020  $233 

XML 35 R24.htm IDEA: XBRL DOCUMENT v3.20.2
Summary of Significant Accounting Policies (Details) - USD ($)
3 Months Ended 9 Months Ended
Apr. 11, 2019
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Summary of Significant Accounting Policies (Textual)            
Foreign income tax expenses   $ 0 $ 0 $ 65,000 $ 225  
Accumulated deficit   (20,973,631)   (20,973,631)   $ (19,968,668)
Negative working capital       7,520,000    
Principal amount       4,672,812    
Accrued interest   $ 117,780   117,780   $ 117,780
Additional interest       $ 20,000    
Patents [Member] | Minimum [Member]            
Summary of Significant Accounting Policies (Textual)            
Patents economic useful lives       1 year    
Patents [Member] | Maximum [Member]            
Summary of Significant Accounting Policies (Textual)            
Patents economic useful lives       10 years    
Quest Packaging Solutions Corporation [Member]            
Summary of Significant Accounting Policies (Textual)            
Ownership percentage   90.00%   90.00%    
Quest Nettech Corporation [Member]            
Summary of Significant Accounting Policies (Textual)            
Ownership percentage   65.00%   65.00%    
Wynn Technologies Inc. [Member]            
Summary of Significant Accounting Policies (Textual)            
Patents, description       The sole asset of Wynn Technologies, Inc. was US Patent No. RE38,137E. Wynn Technologies, Inc. could not transfer, assign, sell, hypothecate or otherwise encumber US Patent No. RE38,137E without the express written consent of the owner of 35% of Wynn Technologies, Inc., unless, as of the date of such transfer, assignment, sale, hypothecation or other encumbrance, the owner had received a total of at least $250,000. US Patent No. RE38,137E expired on September 28, 2015. The Company accounted for its 65% interest in Wynn Technologies, Inc. under the equity method whereby the investment accounts were increased for contributions by the Company plus its 60% share of income pursuant to the contractual agreement which provides that the holder of 35% of the stock of Wynn Technologies, Inc. retained 40% of the income, and reduced for distributions and its 60% share of losses incurred, respectively, with the restriction whereby the account balances cannot go below zero.    
Ownership interest, description Quest NetTech Corporation merged with Wynn Technologies, Inc. with Quest NetTech Corporation being the surviving entity. Pursuant to the merger agreement, we issued a 35% interest in Quest NetTech Corporation to the former 35% stockholder of Wynn Technologies, Inc.          
XML 36 R25.htm IDEA: XBRL DOCUMENT v3.20.2
Short-term Debt and Long-term Liabilities (Details) - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Short-term debt:    
Loans payable - third party $ 147,000 $ 147,000
Purchase price of patents - current portion 975,000 569,386
Net short-term debt 1,122,000 716,386
Loan payable - related party    
Gross 4,672,810 4,672,810
Accrued Interest 117,780 117,780
Unamortized discount (189,705)
Net loans payable - related party 4,790,590 4,600,885
Long-term liabilities:    
Gross 170,832
Accrued Interest 2,142
Net loans payable SBA 172,974
Purchase price of patents    
Gross 1,315,000 1,725,000
Unamortized discount (155,019) (282,503)
Net purchase price of patents - long-term 1,159,981 1,442,497
Contingent funding liabilities:    
Gross 20,378 20,378
Net contingent funding liabilities $ 20,378 $ 20,378
XML 37 R26.htm IDEA: XBRL DOCUMENT v3.20.2
Short-term Debt and Long-term Liabilities (Details Textual) - USD ($)
1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
May 31, 2020
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2018
Dec. 31, 2019
Sep. 30, 2018
Oct. 22, 2015
Short-Term Debt and Long-Term Liabilities (Textual)                  
Loans payable - third party   $ 147,000   $ 147,000     $ 147,000    
Accrued interest percentage   10.00%   10.00%          
Principal amount   $ 4,672,810   $ 4,672,810          
Accrued interest               $ 395,459  
Interest paid   117,000 $ 117,000 350,000 $ 350,000        
Litigation funding amount           $ 150,000      
Total contingent funding liability       $ 20,000          
Effective interest rate       8.50%          
Securities Purchase Agreement [Member]                  
Short-Term Debt and Long-Term Liabilities (Textual)                  
Unsecured loans   $ 20,832   $ 20,832          
Maturity date       Apr. 23, 2022          
Bearing interest percentage   0.98%   0.98%          
U.S. Small Business Association [Member]                  
Short-Term Debt and Long-Term Liabilities (Textual)                  
Unsecured loans   $ 150,000   $ 150,000          
Maturity date       May 14, 2050          
Bearing interest percentage   3.75%   3.75%          
Debt instrument, description       The Note may be prepaid by the Company at any time prior to maturity with no prepayment penalties. Funds from the Loan may be used solely as working capital to alleviate economic injury caused by disaster occurring in the month of January 31, 2020 and continuing thereafter and to pay Uniform Commercial Code (UCC) lien filing fees and a third-party UCC handling charge of $100 which were deducted from the Loan amount stated above. In addition to the Loan, as part of the COVID-19 relief effort, the Company obtained an Emergency EIDL Grant from the SBA in the amount of $1,000.          
United Wireless Holdings, Inc. [Member] | Securities Purchase Agreement [Member]                  
Short-Term Debt and Long-Term Liabilities (Textual)                  
Principal amount                 $ 4,672,810
CXT Systems, Inc. [Member]                  
Short-Term Debt and Long-Term Liabilities (Textual)                  
Minimum future cumulative distributions   $ 600,000   $ 600,000          
Minimum future cumulative distributions, short-term   194,386   $ 194,386          
Description of minimum payments due under agreement       A wholly owned subsidiary, and IV 34/37 pursuant to which at closing CXT acquired by assignment all right, title, and interest in a portfolio of fourteen United States patents, five foreign patents and six related applications (the “CXT Portfolio”). Under the agreement, CXT will distribute 50% of net recoveries, as defined, to IV 34/37. CXT advanced $25,000 to IV 34/37 at closing, and agreed that in the event that, on December 31, 2018, December 31, 2019 and December 31, 2020, cumulative distributions to IV 34/37 total less than $100,000, $375,000 and $975,000, respectively, CXT shall pay the difference necessary to achieve the applicable minimum payment amount within ten days after the applicable date; with any advances being credited toward future distributions to IV 34/36.          
M-RED Inc. [Member]                  
Short-Term Debt and Long-Term Liabilities (Textual)                  
Minimum future cumulative distributions   1,125,000   $ 1,125,000          
Minimum future cumulative distributions, short-term   $ 375,000   $ 375,000          
Description of minimum payments due under agreement       A wholly owned subsidiary and Intellectual Ventures Assets 113 LLC and Intellectual Ventures Assets 108 LLC ("IV 113/108") pursuant to which M-RED paid IV 113/108 $75,000 and IV 113/108 transferred to M-RED all right, title and interest in a portfolio of sixty United States patents and eight foreign patents (the "M-RED Portfolio"). Under the agreement, M-RED is to distribute 50% of net proceeds, as defined, to IV 113/108, as long as the Company generates revenue from the M-RED Portfolio. The agreement with IV 113/108 provides that if, on September 30, 2020, September 30, 2021 and September 30, 2022, cumulative distributions to IV 113/108 total less than $450,000, $975,000 and $1,575,000, respectively, M-RED shall pay the difference between such cumulative amounts and the amount paid to IV 113/108 within ten days after the applicable date. The $75,000 initial payment is treated as an advance against the first distributions of net proceeds payable to IV 113/108.          
Acquisition funding amount $ 95,000                
Net proceeds from third parties $ 190,000                
XML 38 R27.htm IDEA: XBRL DOCUMENT v3.20.2
Derivative Liabilities (Details)
9 Months Ended 12 Months Ended
Sep. 30, 2020
Dec. 31, 2019
Derivative [Line Items]    
Volatility 261.00%  
Risk-free interest rate 0.20% 0.24%
Expected dividends 0.00% 0.00%
Expected term  
Minimum [Member]    
Derivative [Line Items]    
Volatility   207.00%
Expected term   1 year 9 months
Maximum [Member]    
Derivative [Line Items]    
Volatility   426.00%
Expected term   4 years 8 months 12 days
XML 39 R28.htm IDEA: XBRL DOCUMENT v3.20.2
Derivative Liabilities (Details 1) - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Level 1 [Member]    
Assets    
None
Total assets
Liabilities    
Option derivative liability
Total liabilities
Level 2 [Member]    
Assets    
None
Total assets
Liabilities    
Option derivative liability
Total liabilities
Level 3 [Member]    
Assets    
None
Total assets
Liabilities    
Option derivative liability 595,000
Total liabilities $ 595,000
XML 40 R29.htm IDEA: XBRL DOCUMENT v3.20.2
Derivative Liabilities (Details 2) - Level 3 [Member]
9 Months Ended
Sep. 30, 2020
USD ($)
Derivative [Line Items]  
Beginning balance $ 595,000
Change in fair value (275,000)
Resolution of derivative liability (320,000)
Ending balance $ 0
XML 41 R30.htm IDEA: XBRL DOCUMENT v3.20.2
Derivative Liabilities (Details Textual) - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Derivative Liabilities (Textual)    
Aggregate fair value of outstanding derivative liability $ 0 $ 595,000
XML 42 R31.htm IDEA: XBRL DOCUMENT v3.20.2
Stockholders' Equity (Details) - Stock Options [Member] - $ / shares
9 Months Ended 12 Months Ended
Sep. 30, 2020
Dec. 31, 2019
Number of Options    
Beginning Balance 50,000,000  
Granted  
Exercised  
Expired (50,000,000)  
Cancelled  
Ending Balance 50,000,000
Weighted Average Exercise Price    
Beginning Balance $ 0.03  
Granted
Expired 0.03  
Exercised
Cancelled
Ending Balance $ 0.03
Weighted Average Remaining Contractual Life (Years)    
Weighted Average Remaining Contractual Life (Years) 9 months
XML 43 R32.htm IDEA: XBRL DOCUMENT v3.20.2
Intangible Assets (Details) - USD ($)
9 Months Ended
Sep. 30, 2020
Dec. 31, 2019
Summary of intangible assets    
Patents $ 5,690,000 $ 5,595,000
Less: net monetization obligations (509,811) (509,811)
Imputed interest (713,073) (713,073)
Subtotal 4,467,116 4,372,116
Less: accumulated amortization (2,127,530) (1,617,762)
Net value of intangible assets $ 2,339,586 $ 2,754,354
Weighted average amortization period (years) 6 years 4 months 17 days  
Patents [Member]    
Summary of intangible assets    
Weighted average amortization period (years) 6 years 6 months  
XML 44 R33.htm IDEA: XBRL DOCUMENT v3.20.2
Intangible Assets (Details 1) - Patents [Member]
Sep. 30, 2020
USD ($)
Year ended December 31,  
Remainder of 2020 $ 135,350
2021 549,345
2022 495,742
2023 323,070
2024 and thereafter 836,079
Total $ 2,339,586
XML 45 R34.htm IDEA: XBRL DOCUMENT v3.20.2
Intangible Assets (Details 2) - USD ($)
9 Months Ended 12 Months Ended
Sep. 30, 2020
Dec. 31, 2019
Current Liabilities:    
Purchase price of patents, current portion $ 975,000 $ 569,386
Unamortized discount
Non-current liabilities:    
Unamortized discount (155,019) (282,503)
Patents [Member]    
Current Liabilities:    
Purchase price of patents, current portion 975,000 569,386
Unamortized discount
Non-current liabilities:    
Purchase price of patents, long term 1,315,000 1,725,000
Unamortized discount (155,019) (282,503)
Total current and non-current $ 2,134,981 $ 2,011,883
Patents [Member] | Minimum [Member]    
Non-current liabilities:    
Effective interest rate of Amortized over 2-3 years 9.35% 9.60%
Patents [Member] | Maximum [Member]    
Non-current liabilities:    
Effective interest rate of Amortized over 2-3 years 14.45% 12.50%
XML 46 R35.htm IDEA: XBRL DOCUMENT v3.20.2
Intangible Assets (Details Textual) - USD ($)
1 Months Ended 9 Months Ended 12 Months Ended
May 29, 2019
Sep. 30, 2020
Dec. 31, 2019
Oct. 31, 2015
Intangible Assets (Textual)        
Patents purchase price       $ 3,000,000
Book value of intellectual property   $ 2,339,586 $ 2,754,354  
Amortization expense   $ 509,768 $ 529,486  
Percentage of net monetization proceeds from patents acquired   7.50%    
Imputed interest   10.00%    
Funding agreement, description The funding agreement dated May 29, 2019 between the Company and the funding source, 100% of the net monetization proceeds due to the company from the audio messaging patents acquired in May 2020 will be paid to the funding source until the funding source receives $190,000. The monetization obligation, net of the $95,000 provided by the funding source, was recognized as a discount to the debt, recorded as an expense and is reflected in interest expense during the period.      
Securities Purchase Agreement [Member]        
Intangible Assets (Textual)        
Percentage of net monetization proceeds from patents acquired   15.00%    
Patents [Member]        
Intangible Assets (Textual)        
Intangible assets, description   Intangible assets are comprised of patents with estimated useful lives. The intangible assets at June 30, 2020 represent: ● patents acquired in October 2015 for a purchase price of $3,000,000, the useful lives of the patents, at the date of purchase, was 6-10 years; ● patents acquired in July 2017 pursuant to an obligation to distribute 50% of net revenues to IV 34/37, against which $25,000 was advanced at closing and provided that in the event that, on December 31, 2018, December 31, 2019 and December 31, 2020, cumulative distributions of 50% of net revenues to IV 34/37 total less than $100,000, $375,000 and $975,000, respectively, CXT shall pay the difference necessary to achieve the applicable minimum payment amount within ten days after the applicable date; with any advances being credited toward future distributions to IV 34/36; the useful lives of the patents, at the date of acquisition, was 5-6 years; ● patents (which were fully depreciated at the date of acquisition) acquired in January 2018 pursuant to an agreement with to Intellectual Ventures Assets 62 LLC and Intellectual Ventures Assets 71 LLC "(IV 62/71"), pursuant to which CXT has an obligation to distribute 50% of net revenues to IV 62/71 against which CXT advanced $10,000 at closing; ● patents acquired in January 2018 by Photonic Imaging Solutions Inc. ("PIS") from Intellectual Ventures Assets 64 LLC ("IV 64") pursuant to which PIS is to pay IV 64 (a) 70% of the first $1,500,000 of net revenue, (b) 30% of the next $1,500,000 of net revenue and (c) 50% of net revenue in excess of $3,000,000, against which PIS advanced $10,000 at closing; and ● patents acquired in March 2019 by M-Red Inc. ("M-Red") from Intellectual Ventures Assets 113 LLC and Intellectual Ventures 108 LLC ("IV 113/108") pursuant to which M-Red is obligated to distribute 50% of net revenues to IV 113/108, against which $75,000 was advanced at closing and provided that in the event that, on September 30, 2020, September 30, 2021 and September 30, 2022, cumulative distributions of 50% of net revenues to IV 113/108 total less than $450,000, $975,000 and $1,575,000, respectively, M-Red shall pay the difference necessary to achieve the applicable minimum payment amount within ten days after the applicable date; with any advances being credited toward future distributions to IV 113/108; the useful lives of the patents, at the date of acquisition, was approximately nine years; and ● patents (which were fully depreciated at the date of acquisition) acquired in May 2020 for a purchase price of $95,000 pursuant to an agreement with Texas Technology Ventures 2, LLP ("TTV"), pursuant to which of the Company retains the first $230,000 of net proceeds, as defined in the agreement, after which the company has an obligation to distribute 50% of net proceeds to TTV.    
Patents [Member] | Minimum [Member]        
Intangible Assets (Textual)        
Effective interest rate of amortized periods   2 years    
Patents [Member] | Maximum [Member]        
Intangible Assets (Textual)        
Effective interest rate of amortized periods   3 years    
XML 47 R36.htm IDEA: XBRL DOCUMENT v3.20.2
Non-Controlling Interest (Details) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Non-Controlling Interest [Abstract]        
Balance as of December 31, 2019     $ 239  
Net income attributable to non-controlling interest $ (6) $ 347 (6) $ (1,558)
Balance as of September 30, 2020 $ 233   $ 233  
XML 48 R37.htm IDEA: XBRL DOCUMENT v3.20.2
Related Party Transactions (Details) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Related Party Transactions (Textual)          
Percentage of note     10.00%    
Paid in interest amount $ 117,000 $ 117,000 $ 350,000 $ 350,000  
Cost of information technology services 115 $ 115 320 $ 350  
Accrued liability $ 564,000   $ 564,000    
Related party transaction, description     The Company contracted with a law firm more than 10 percent owned, but not controlled, by the father-in-law of the chief executive officer.    
Interest rate     10.00%    
United Wireless Holdings, Inc. [Member]          
Related Party Transactions (Textual)          
Percentage of note     10.00%   10.00%
XML 49 R38.htm IDEA: XBRL DOCUMENT v3.20.2
Commitments and Contingencies (Details) - USD ($)
1 Months Ended 3 Months Ended 9 Months Ended
Nov. 30, 2014
Aug. 31, 2016
Jun. 30, 2016
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
May 31, 2020
May 11, 2020
Commitments and Contingencies (Textual)                  
Litigation fees, costs and expenses       $ 2,996,416 $ 555,474 $ 4,714,406 $ 1,400,003    
Third party funding source advanced for costs and expenses           $ 130,000      
Compensation percentage                 19.00%
Priority interest to third party               $ 190,000  
Chief Executive Officer [Member]                  
Commitments and Contingencies (Textual)                  
Term of agreement, description The Company agreed to employ him as president and chief executive officer for a term of three years, commencing January 1, 2014, and continuing on a year-to-year basis unless terminated by either party on not less than 90 days’ notice prior to the expiration of the initial term or any one-year extension.                
Initial annual salary $ 252,000                
Officer's annual salary     $ 300,000            
Annual bonus compensation, description   The Company's board of directors increased the chief executive officer's annual salary to $300,000, effective January 1, 2016. The chief executive officer is entitled to a bonus if the Company meets or exceeds performance criteria established by the compensation committee. In August 2016, the Company's board of directors approved annual bonus compensation equal to 30% of the amount by which ourthe Company's consolidated income before income taxes exceeds $500,000.              
XML 50 R39.htm IDEA: XBRL DOCUMENT v3.20.2
Subsequent Events (Details) - USD ($)
9 Months Ended
Oct. 02, 2020
Oct. 01, 2020
Sep. 30, 2020
Subsequent Events (Textual)      
Principal amount     $ 4,672,810
Accrued interest on the notes     117,780
Interest payment     $ 20,000
Subsequent Event [Member]      
Subsequent Events (Textual)      
Accrued interest on the notes $ 117,780    
Amount paid to intelligent partners   $ 117,780  
EXCEL 51 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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�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how.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 53 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 54 FilingSummary.xml IDEA: XBRL DOCUMENT 3.20.2 html 122 307 1 false 23 0 false 4 false false R1.htm 00000001 - Document - Document and Entity Information Sheet http://questproduct.com/role/DocumentAndEntityInformation Document and Entity Information Cover 1 false false R2.htm 00000002 - Statement - Unaudited Consolidated Balance Sheets Sheet http://questproduct.com/role/UnauditedConsolidatedBalanceSheets Unaudited Consolidated Balance Sheets Statements 2 false false R3.htm 00000003 - Statement - Unaudited Consolidated Balance Sheets (Parenthetical) Sheet http://questproduct.com/role/UnauditedConsolidatedBalanceSheetsParenthetical Unaudited Consolidated Balance Sheets (Parenthetical) Statements 3 false false R4.htm 00000004 - Statement - Unaudited Consolidated Statements of Operations Sheet http://questproduct.com/role/UnauditedConsolidatedStatementsOfOperations Unaudited Consolidated Statements of Operations Statements 4 false false R5.htm 00000005 - Statement - Consolidated Statements of Changes in Stockholders' Deficit Sheet http://questproduct.com/role/StatementsOfChangesInStockholdersDeficit Consolidated Statements of Changes in Stockholders' Deficit Statements 5 false false R6.htm 00000006 - Statement - Unaudited Consolidated Statement of Cash Flows Sheet http://questproduct.com/role/UnauditedConsolidatedStatementOfCashFlows Unaudited Consolidated Statement of Cash Flows Statements 6 false false R7.htm 00000007 - Statement - Unaudited Consolidated Statement of Cash Flows (Parenthetical) Sheet http://questproduct.com/role/UnauditedConsolidatedStatementOfCashFlowsParenthetical Unaudited Consolidated Statement of Cash Flows (Parenthetical) Statements 7 false false R8.htm 00000008 - Disclosure - Description of Business and Basis of Presentation Sheet http://questproduct.com/role/DescriptionOfBusinessAndBasisOfPresentation Description of Business and Basis of Presentation Notes 8 false false R9.htm 00000009 - Disclosure - Summary of Significant Accounting Policies Sheet http://questproduct.com/role/SummaryOfSignificantAccountingPolicies Summary of Significant Accounting Policies Notes 9 false false R10.htm 00000010 - Disclosure - Short-term Debt and Long-term Liabilities Sheet http://questproduct.com/role/Short-termDebtAndLong-termLiabilities Short-term Debt and Long-term Liabilities Notes 10 false false R11.htm 00000011 - Disclosure - Derivative Liabilities Sheet http://questproduct.com/role/DerivativeLiabilities Derivative Liabilities Notes 11 false false R12.htm 00000012 - Disclosure - Stockholders' Equity Sheet http://questproduct.com/role/StockholdersEquity Stockholders' Equity Notes 12 false false R13.htm 00000013 - Disclosure - Intangible Assets Sheet http://questproduct.com/role/IntangibleAssets Intangible Assets Notes 13 false false R14.htm 00000014 - Disclosure - Non-Controlling Interest Sheet http://questproduct.com/role/NonControllingInterest Non-Controlling Interest Notes 14 false false R15.htm 00000015 - Disclosure - Related Party Transactions Sheet http://questproduct.com/role/RelatedPartyTransactions Related Party Transactions Notes 15 false false R16.htm 00000016 - Disclosure - Commitments and Contingencies Sheet http://questproduct.com/role/CommitmentsAndContingencies Commitments and Contingencies Notes 16 false false R17.htm 00000017 - Disclosure - Subsequent Events Sheet http://questproduct.com/role/SubsequentEvents Subsequent Events Notes 17 false false R18.htm 00000018 - Disclosure - Summary of Significant Accounting Policies (Policies) Sheet http://questproduct.com/role/SummaryofSignificantAccountingPoliciesPolicies Summary of Significant Accounting Policies (Policies) Policies http://questproduct.com/role/SummaryOfSignificantAccountingPolicies 18 false false R19.htm 00000019 - Disclosure - Short-term Debt and Long-term Liabilities (Tables) Sheet http://questproduct.com/role/Short-termDebtAndLong-termLiabilitiesTables Short-term Debt and Long-term Liabilities (Tables) Tables http://questproduct.com/role/Short-termDebtAndLong-termLiabilities 19 false false R20.htm 00000020 - Disclosure - Derivative Liabilities (Tables) Sheet http://questproduct.com/role/DerivativeLiabilitiesTables Derivative Liabilities (Tables) Tables http://questproduct.com/role/DerivativeLiabilities 20 false false R21.htm 00000021 - Disclosure - Stockholders' Equity (Tables) Sheet http://questproduct.com/role/StockholdersEquityTables Stockholders' Equity (Tables) Tables http://questproduct.com/role/StockholdersEquity 21 false false R22.htm 00000022 - Disclosure - Intangible Assets (Tables) Sheet http://questproduct.com/role/IntangibleAssetsTables Intangible Assets (Tables) Tables http://questproduct.com/role/IntangibleAssets 22 false false R23.htm 00000023 - Disclosure - Non-Controlling Interest (Tables) Sheet http://questproduct.com/role/Non-controllingInterestTables Non-Controlling Interest (Tables) Tables http://questproduct.com/role/NonControllingInterest 23 false false R24.htm 00000024 - Disclosure - Summary of Significant Accounting Policies (Details) Sheet http://questproduct.com/role/SummaryOfSignificantAccountingPoliciesDetails Summary of Significant Accounting Policies (Details) Details http://questproduct.com/role/SummaryofSignificantAccountingPoliciesPolicies 24 false false R25.htm 00000025 - Disclosure - Short-term Debt and Long-term Liabilities (Details) Sheet http://questproduct.com/role/Short-termDebtAndLong-termLiabilitiesDetails Short-term Debt and Long-term Liabilities (Details) Details http://questproduct.com/role/Short-termDebtAndLong-termLiabilitiesTables 25 false false R26.htm 00000026 - Disclosure - Short-term Debt and Long-term Liabilities (Details Textual) Sheet http://questproduct.com/role/Short-termDebtAndLong-termLiabilitiesDetailsTextual Short-term Debt and Long-term Liabilities (Details Textual) Details http://questproduct.com/role/Short-termDebtAndLong-termLiabilitiesTables 26 false false R27.htm 00000027 - Disclosure - Derivative Liabilities (Details) Sheet http://questproduct.com/role/DerivativeLiabilitiesDetails Derivative Liabilities (Details) Details http://questproduct.com/role/DerivativeLiabilitiesTables 27 false false R28.htm 00000028 - Disclosure - Derivative Liabilities (Details 1) Sheet http://questproduct.com/role/DerivativeLiabilitiesDetails1 Derivative Liabilities (Details 1) Details http://questproduct.com/role/DerivativeLiabilitiesTables 28 false false R29.htm 00000029 - Disclosure - Derivative Liabilities (Details 2) Sheet http://questproduct.com/role/DerivativeLiabilitiesDetails2 Derivative Liabilities (Details 2) Details http://questproduct.com/role/DerivativeLiabilitiesTables 29 false false R30.htm 00000030 - Disclosure - Derivative Liabilities (Details Textual) Sheet http://questproduct.com/role/DerivativeLiabilitiesDetailsTextual Derivative Liabilities (Details Textual) Details http://questproduct.com/role/DerivativeLiabilitiesTables 30 false false R31.htm 00000031 - Disclosure - Stockholders' Equity (Details) Sheet http://questproduct.com/role/Stockholdersequitydetails Stockholders' Equity (Details) Details http://questproduct.com/role/StockholdersEquityTables 31 false false R32.htm 00000032 - Disclosure - Intangible Assets (Details) Sheet http://questproduct.com/role/IntangibleAssetsDetails Intangible Assets (Details) Details http://questproduct.com/role/IntangibleAssetsTables 32 false false R33.htm 00000033 - Disclosure - Intangible Assets (Details 1) Sheet http://questproduct.com/role/IntangibleAssetsDetails1 Intangible Assets (Details 1) Details http://questproduct.com/role/IntangibleAssetsTables 33 false false R34.htm 00000034 - Disclosure - Intangible Assets (Details 2) Sheet http://questproduct.com/role/IntangibleAssetsDetails2 Intangible Assets (Details 2) Details http://questproduct.com/role/IntangibleAssetsTables 34 false false R35.htm 00000035 - Disclosure - Intangible Assets (Details Textual) Sheet http://questproduct.com/role/IntangibleAssetsDetailsTextual Intangible Assets (Details Textual) Details http://questproduct.com/role/IntangibleAssetsTables 35 false false R36.htm 00000036 - Disclosure - Non-Controlling Interest (Details) Sheet http://questproduct.com/role/NonControllingInterestDetails Non-Controlling Interest (Details) Details http://questproduct.com/role/Non-controllingInterestTables 36 false false R37.htm 00000037 - Disclosure - Related Party Transactions (Details) Sheet http://questproduct.com/role/RelatedPartyTransactionsDetails Related Party Transactions (Details) Details http://questproduct.com/role/RelatedPartyTransactions 37 false false R38.htm 00000038 - Disclosure - Commitments and Contingencies (Details) Sheet http://questproduct.com/role/CommitmentsAndContingenciesDetails Commitments and Contingencies (Details) Details http://questproduct.com/role/CommitmentsAndContingencies 38 false false R39.htm 00000039 - Disclosure - Subsequent Events (Details) Sheet http://questproduct.com/role/SubsequentEventsDetails Subsequent Events (Details) Details http://questproduct.com/role/SubsequentEvents 39 false false All Reports Book All Reports qprc-20200930.xml qprc-20200930.xsd qprc-20200930_cal.xml qprc-20200930_def.xml qprc-20200930_lab.xml qprc-20200930_pre.xml http://fasb.org/srt/2020-01-31 http://fasb.org/us-gaap/2020-01-31 http://xbrl.sec.gov/dei/2020-01-31 true true ZIP 56 0001213900-20-037387-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001213900-20-037387-xbrl.zip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