Hi dino, I don't really know about the monies being payed back as Medpro still have to produce an IPL as stated in the agreement they have and UNI are the only ones that have been working on this!! IMO they can't do much without all the work we have produced to date, see below part of the agreement Medpro must action:
"Under the new agreement, MedPro must use commercially reasonable efforts to design, construct, complete and successfully test an initial automated production line ("IPL") for delivery to Greiner at a mutually acceptable date not before March 31, 2009. The IPL includes molds, automation, packaging and associated engineering as required. Greiner will pay MedPro an amount not to exceed $5.1 million for the IPL in three installments, beginning October 1, 2008 with the final payment due March 31, 2009. In addition, MedPro must use commercially reasonable efforts to commence production of a secondary automated production line approximately 24 months after completion of the IPL, depending on volume requirements determined by Greiner. The date for completion and shipment will be determined by the parties. Greiner will pay MedPro an amount not to exceed $3.5 million for the second product line in three installments, the first of which shall be due upon initiation of the design review with Greiner".
UNI Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
