Ann: Change of Director's Interest Notice - PH, page-147

Dingo,
I heard her say that, it was along the lines of “monetising some of our assets”, which she stated within the last couple of weeks. I reckon in hindsight she was referring to the “UP TO $6m in upfront and milestone payments to Imugene from the recent deal with Kincell. A very misleading use of words if that’s the case, as it’s chicken feed in the scheme of things, and a frustratingly ambiguous description anyway, ie how much upfront, how much milestone and how flexible is the “up to”…??
For the record, Imugene paid USD, $8m cash, $13m deferred until Aug 24, and $3m to Chimeric in August last year for the Azercel deal, which included the manufacturing facility.
My main question here is if the Kincell deal relieves Imugene of $32m in staff cost reductions over 3 years, was there no revenue? If it is a net saving of $32m to run the place, what on earth made them think it was affordable to take on this overhead for a non revenue business as recently as August last year???
So many of Hoppers decisions are poor, and seemingly not in the direct interest of shareholders.