ANDREA ELECTRONICS CORPORATION (OTCMKTS:ANDR) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry Into a Definitive Material Agreement.
On August 16, 2017, Andrea Electronics Corporation (the “Company”) entered into a Settlement Agreement with Samsung Electronics Co., Ltd. and Samsung Electronics America, Inc. (together, “Samsung”)). Under the Settlement Agreement the Company settled outstanding litigation between the Company and Samsung including Andrea Electronics Corporation v. Samsung Electronics Co., Ltd. and Samsung Electronics America, Inc., Civ. Action No. 2:16-cv-05217, pending in the Eastern District of New York and Certain Audio Processing Hardware and Software and Products Containing the Same, Inv. No. 337-TA-1026, pending at the International Trade Commission. In addition, the Company and Samsung entered into a Patent License Agreement.
About ANDREA ELECTRONICS CORPORATION (OTCMKTS:ANDR)
Andrea Electronics Corporation (Andrea) is engaged in designing, developing and manufacturing digital microphone technologies and products for improving speech-based applications software and communications. It operates through two segments: Patent Monetization, and Andrea DSP Microphone and Audio Software Products. Its products are designed for a range of noisy environments, such as homes, offices, factories and automobiles. Andrea also manufactures a line of accessories for its products for the consumer and commercial markets in the United States, as well as in Europe and Asia. Patent Monetization includes Monetization Revenues. Its products and technologies are developed in part using its intellectual property. It develops Andrea digital signal processing (DSP) Microphone and Audio Software Products primarily through customer-specific integration efforts, and it either licenses its related algorithms, sells a product incorporating its related algorithms, or both.