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Re:Site Visit-18-03-15, page-40

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slippin

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19/03/15

21:57

Post #: 14946530
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Originally posted by cashman2284 ↑

I have been in contact with the company over the past few weeks about POC1 as I have mentioned before. There is the possibility we won't be in the first device, that has also been mentioned to me.
However, I also spoke with Josh at the AGM and he was of the opinion at the time that they wouldn't be able to get the repeatable results and meet clinical requirements without us (he used better wording than that). He said they could still go it without us but there were real risks if they did. The fact they haven't named us yet is of concern to me however as it has been discussed already there are also good reasons why they might want to keep us hidden. I still get the impression from speaking with the company even recently that POC1 management are still very arrogant and giving us the run around.

If they do launch the first device without us, and they don't commit at the time to us being in version 2, I think they need to get tough and tell them they either sign on the dotted line or walk away and contact competitors with the know how to launch a more competitive device in a short time. It isn't just M&G we are providing, there is expertise that go with it.

I know some might think the threat of walking away sounds crazy but when you know you hold the golden key, sometimes you need to back yourself. I would also be making it quite clear that as a result of parting ways the royalty rate will double and so will the upfront fee if they contact us in the future needing us further down the line.

We are a small company in the scheme of things with limited capital and resources. If they don't want to partner with us then we should focus our expertise with customers that do. After all we have over 100 potential customers and between 10-20 deals that could happen at any time.

I just hope if it did come to us not getting anywhere with them we have a clause in our contract to recover all our costs.

Obviously I would prefer M&G to be included in the device and my view is it will be but you need a game plan for all the possibilities. I hope Bouris is helping them with negotiation tactics.

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Cashman, I would have no problem with playing hardball and if they then choose to walk away, so be it. But, as you say, any prior agreements on royalties etc are null and void and if they come back , cap in hand, it will be at a significant increase in price.

I think if that were to eventuate, then a takeover comes into the mix, friendly or otherwise. I'm of the belief that the issue is arrogance and arrogant people sometimes say and do dumb things. Maybe even pay well over value to be rid of those from the Southern Hemisphere. Lol.

All supposition so far but worthwhile keeping in mind.

ADO Price at posting: 10.5¢ Sentiment: Buy Disclosure: Held
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Re:Site Visit-18-03-15, page-40

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Re:Site Visit-18-03-15, page-40

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