- Then in the related party note they disclose that
DNA Behaviour International Resources (DNA), a company related to the Director Hugh Massie,
was granted the exclusive license to sell the Group’s video products within New York City, US in
December 2015. The agreement with DNA for sales distribution of the video product represents
a license fee (paid over a 10 month period) and a revenue share agreement to be implemented
based on successful sales and a number of Key Performance Indicators (KPIs). For the current
financial year, the total revenues received relating to the distribution agreement whilst Hugh
was a director was $100,000 (2016: $100,000).
Did he pay anything for the license? Why spend $400k to set the thing up and then hand it over to the Chairman and he repays it over the next 4 years?
BIG Price at posting:
$2.22 Sentiment: Sell Disclosure: Not Held