New P&G Product:
The parties will negotiate in good faith to agree and execute product license term sheets, which include royalties and/or subscription fees payable to OBJ, as and when these products become defined. - Unless i missed it previously, first mention of subscription fees?
Wave 1:
Both parties agreed to the release of the Wave 1 Eye Wand device during the March quarter, with negotiations underway for OBJ to access P&G-owned production tooling and use of its design patents. Access to these existing assets will reduce production costs for OBJ. The negotiation of these changes form part of OBJ’s strategy to develop or co-develop products for distribution into markets outside skincare, providing greater potential revenues to the Company rather than license fees. - Some clarity on questions raised previously
Body Guard:
The results from this body of work have proved encouraging and discussions continue regarding potential distribution of BodyGuard products into the UK, subject to achieving manufacturing and regulatory milestones.
Surface Hygiene:
The party has now replicated the experiments in its own laboratory that were undertaken with significant success in Perth using OBJ’s microarray technology. The two teams met again during the March quarter, at which time OBJ was informed that the Surface Hygiene exploration work would be moved to the partner’s new facility in India, and that some delays may occur as this new facility familiarises themselves with the OBJ technology.
DCE:
New formulation “layering” caps containing the DCE technology were evaluated in Singapore with a new potential multi-national partner with which OBJ has been fostering a relationship. There is an opportunity for OBJ to supply packaging for end-user products containing the Company’s DCE layering technology. The potential partner will undertake consumer evaluation work before progressing discussions with OBJ. DCE is part of the Company’s successful Advanced Packaging initiative from which two new P&G products have already emerged.
Haircare:
Haircare is a business that needs such innovation, as the use of heavy emulsions that leave the hair oily are less desirable to consumers. The Company is exploring new forms of chassis-less aerosols for hair scalp and skin care treatments. - Steve's other company works in the haircare space?
(20min delay)