Thanks
@Pman
To clarify for everyone (and to expand on PMans great explanation).
First, the 4C reporting is not revenue buy physical cash received.
The just released Dec Quarter 4c royalty cash relates to sales in the Sep 2016 quarter, paid (most likely) in late Nov 2016. As we know only limited sales of the wand were made in Aug/Sep so reasonably the royalty cash received in the Dec quarter was low. The key is that a royalty was actually paid!
The next 4C (March 2017 quarter) will include royalty cash for sales made from Oct 2016 to Dec 2016 inclusive. This should be greater then the Dec 2016 4C but, as we know, misses the majority of launches across Asia.
Note: The Half Year accounts (4D) to be released late Feb 2017 should enable a reasonable estimation of expected royalty cash in the Mar 2017 4C. This Assumes a small amount of detail relating to revenue is included (hint! for mgmt). If not, hopefully the related presentation will break it down and include a graph that shows a sharp incline to the right
![Wink](styles/default/xenforo/clear.png)
for royalty income. Another excellent slide would be one that highlights gross margin on these royalties... which I hope would be right up near 100%.
The 4C for the June 2017 quarter will include royalty cash for sales made from Jan 2017 to Mar 2017. Based on many of the posts showing wands for sale across Asia starting in Late Jan, it's reasonable to assume we'll see a noticeable jump in royalty cash in the June 2017 4C. This is where things will get interesting!
The Annuals accounts to be released Aug/Sep... will be the most interesting... and hopefully that graph mentioned above starts telling a story the market will notice.
And so the quarters should continue... revenue with very little corresponding cost and every chance for jumps in revenue with the release of new products and new royalty streams.
Relax, grab a seat and order some coconut water... it's been cracked.