Some venture IP company in Tokyo called "Monolith Co." also had rights in the technology.[1] "As of today (Sept. 5, 2007), the company has achieved a compression rate equivalent to that of H.264 and intends to further improve the compression rate and technology, Monolith said."[2] (This is not Monolith Studios, a game development company in Osaka.) Monolith appears to be defunct.
The parties involved with Framefree were involved in fraud litigation around 2010.[3] The case record shows various business units in the Cayman Islands and the Isle of Jersey, along with Monolith in Japan and Framefree in Delaware. No idea what the issues were. It looks like the aftermath of failed business deals.
The inventors listed on the patents are Nobuo Akiyoshi and Kozo Akiyoshi.[4]