Interestingly it says OBJ has had $88,000 from customer receipts
(from who, what for ... or how much is owed is not stated ... as it does not have to be )
Advertising and marketing ... expenditure is shown ... $0 ... that's obvious ... and needs to change
for those that cant find the quarterly on HC ... because it does not appear here it is to save some time ....
( with out the financial tables )
QUARTERLY REPORT
The Company over the past quarter has continued the programs recently announced that include the following significant items:
FINANCIAL
Expenditure this past quarter has increased slightly to reflect the increase in activity in the development programs for several P&G Work Programs and in preparation for the forthcoming BodyGuard trial at the University of Queensland. Some of this additional expenditure is recoverable from P&G. Revenues are principally from P&G for SK‐II launches and recovery of costs from P&G.
PROCTER & GAMBLE (P&G)
SK‐II Magnetic Eye Wand Product Launch
The successful launch of the SK‐II Eye Care product last October in South Korea and similar launches in Hong Kong and Taiwan in December, as previously announced, has now extended into Japan and China. These launches have provided invaluable information to SK‐II for their forward planning and future rollout programs. The OBJ team led by Jeffrey Edwards met with the senior SK‐II personnel in Japan during the period to further develop the multi‐year strategy for the use of OBJ technology in various SK‐II applications. The relationship remains very productive and inclusive.
Product Development Agreement (PDA) Programs
The original PDA with P&G included three product development Work Plans with two additional Work Plans that were announced to the market in December 2014. Work on all of these Work Plans is proceeding as intended and meetings have been held during the quarter between the parties and brand managers to further progress this important work. The parties remain committed to expanding the application of OBJ’s technologies to additional applications and invaluable meetings have been held during the period in the USA for this purpose.
COTY
During the period meetings have been held in New York with the parties and work is progressing very well in manufacturing the pre‐production products that incorporate OBJ’s dermaportation technology. The first design validation prototypes are now complete and will be used to optimise the ergonomics prior to the manufacture of the devices for the forthcoming claims support study.
BODYGUARD
Several thousand pre‐production formulation “pods” have now been manufactured in preparation for the commencement of the clinical study by the University of Queensland. The development of the BodyGuard hardware and formulation pods involved the creation of a number of new processes and required the concerted efforts from a multidisciplinary international team of experts. Due to the increased time that has occurred to finalise the manufacturing of formulation pods, the parties have agreed to extend the exclusive evaluation agreement and to roll the separate efficacy trial and the balance of the consumer study into OBJ’s clinical study with UQ. OBJ has agreed to take responsibility for the execution and funding of the balance of the consumer trial, with P&G having already funded the majority of the consumer component to date. OBJ expects the additional commitment to be approximately $15,000.
GLAXOSMITHKLINE (GSK)
The Company currently has three programs with a number of GSK International brand groups covering oral healthcare, analgesics and medicated skincare.
Meetings were held with GSK’s medicated skincare group in the USA during the quarter for the potential evaluation of OBJ’s technologies across a range of pharmaceutical applications. Excellent working relationships remain in place across GSK.
NEW POTENTIAL PARTNERING ACTIVITIES
The quarter has seen several approaches by new and potential partners from both Europe and Asia seeking access to the Company’s technologies. While discussions remain preliminary, this expansion in interest of the Company’s technologies from global category leaders is seen as a very positive sign from industry of the real potential for incorporating OBJ’s technologies into a broadening partner base.
TECHNOLOGY DEVELOPMENT
The Company has recently progressed two of its new technology R&D programs into formal development programs with the employment of a dedicated Project Manager to focus the necessary resources to possibly develop these into the next generation of OBJ’s own products.
(20min delay)