half-year financials, page-14

TL
...licensing of TPM® into the cosmetics market. I assume this is referring to Mr Global Cosmetic company. But it is odd they didnt state that. I hope Mr Global has not walked away.

The possibility of a deal with 'Mr Global" was first announced last September. At the time it was announced as a "leading global cosmetic and dermatology company" which was to conduct a study of TPM in one cosmetic formulation.

Since then we have been told that the trial has been extended to several products.

In the only other financial report since then, the company stated that they remained "confident of completing agreements in the area of cosmetics and/or dermatology during the year."

Now in this financial report the company speaks of expectations of "licensing of TPM into the cosmetics market" in 2012-2013.

I don't find the language used as "odd". I see it as quite consistent and reflective of progress. "Study" has developed into "Agreements" and now into "Licensing." I'm confident of a deal - I'm just not sure whether it's for TPM formulation, or for TPM cosmetic ingredient. However, either means revenue and is fine by me.