This is my reasoning, Yes we new about the 19.949m net from Tasly share issue. We all are aware of the JCR payments however we did not know that our European customer would renew their license . Thanks £ 5 mil and improved confidence that one day we will see royalties from our IP. It was my understanding that they could have filed the bill in the rubbish and walked away from the deal.
Then further down we see that manufacturing costs have fallen , I was thinking that they could have increased a fare bit considering the cost of stocking up for commercial purposes when launched .
Then you should look at some of the old third party reports from about 12 months ago . From memory around $US30mil difference.
Seems pretty good and I don't know what people expected for a pre commercial company . All we need is just enough.
Ann: Appendix 4C - quarterly, page-62
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