E.Digital Corporation
 |
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| Public (OTCQB: ) | |
| Industry | Patent monetization and Inflight entertainment |
| Founded | 1988 |
| Founder | Woody Norris |
| Headquarters | San Diego, California, U.S. |
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Key people
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Alfred H. “Fred” Falk (President and CEO) Allen Cocumelli (Board Chairman) |
| Products | eVU portable media player |
| Revenue | $2,553,869 (FY 2010) |
| ($878,586) (FY 2010) | |
| ($984,589) (FY 2010) | |
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Number of employees
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12 (6/2010) |
| Website | www.edigital.com |
e.Digital Corporation is a public company based in San Diego, California that focuses on enforcing patents, primarily for a flash file system. Founded in 1988 as Norris Communications, it is one of the publicly traded companies started by inventor/entrepreneur Elwood "Woody" Norris. Its stock trades over-the-counter on the OTCBB under the ticker symbol "EDIG."
The Company was incorporated under the Company Act in the Province of British Columbia, Canada on February 11, 1988 under the name 340520 B.C. Ltd. and changed its name to Norris Communications Corp. on April 7, 1988. On November 22, 1994 the Company changed its jurisdiction to the Yukon Territory. In August, 1996, jurisdiction was changed to the State of Wyoming.
The company was reincorporated in the State of Delaware in September, 1996 as Norris Communications, Inc. In January, 1999 approved a name change to e.Digital Corporation.
Throughout its over 22-year history, e.Digital / Norris Communications continuously lost money. The accumulated deficit at March 31, 2010 was $80 million. Although the company reported its first annual profit for its fiscal year ending March 31, 2009 due to settlements with six of eight defendants of its patent infringement lawsuits which resulted in one-time licensing fees totalling $10.1 million, the company returned to an unprofitable status in fiscal year 2010, posting a net loss of $985,000. Revenue for products totalled $205,000 with service revenue totalling $749,000. Patent infringement settlement income totalled $1,600,000 for total revenue of $2,554,000.
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