Credit Pharma

Credit Pharma[according to the announcement below dated 26/9/2017] was to pay POH a non- refundable USD $100K payment by late October 2016 if diclofenac matters were about to proceed.In the absence of not being told that the payment did not occurr I am assuming that the payment has been made.In my view announcing this payment has been made is the only way to know if the Credit Pharma announcement is progressing.

"26 September 2017, Melbourne: Australian drug delivery company, Phosphagenics Limited (ASX: POH; OTCQX: PPGNY), is pleased to announce the signing of a term sheet with Sichuan Credit Pharmaceutical Co. Ltd. (known as Credit Pharma) for the TPM®/Diclofenac gel in China, Hong Kong, Macau and Taiwan. The term sheet details the proposed terms of a development and licensing agreement which would grant Credit Pharma exclusive rights to develop, market and sell the TPM®/Diclofenac gel in China, Hong Kong, Macau and Taiwan. Phosphagenics will receive a non-refundable payment of USD $100,000 within the next 30 days. It is also entitled to receive an additional USD $300,000 within 30 days of a definitive agreement being signed, which Phosphagenics is targeting to occur prior to the end of January 2018".
Kens