'Seems he has no doubt that there will be Tech II products in a year or two. Was this the impression you got, and how did you come by it?'
Here is what I posted in the AGM summary:
'All terms have been confirmed for the Second Technology Licensing Agreement, which is now awaiting the signature from P&G's President of Beauty & Grooming. We were also advised that the Second Technology will generate a much higher Royalty Rate. You begin to fully appreciate the terminology 'OBJ are at the core of P&G's Innovation' when considering the Second Technology Platform's potential reach into the genre of Online sales and customised skincare that takes into consideration specific skincare needs including geographical locations and climate. The end device will also have the capability to deliver multiple molecules depending on the consumer's individual needs. Very exciting and definately a paradigm shift in the way consumers enact their own individual and unique skincare regimes across a globe that reflects varying challenges, consumer needs and results. The days of applying any skincare products with your grubby fingers are well and truly numbered imo.'
I'm happy to provide some further clarity. There was a Magnetic device that was connected to a mini-tablet via a cable, on display at the AGM. Glyn advised that 20 of these prototypes had been provided to P&G for trials as per ASX Announcements. Glyn advised that the end product would have no cable and run via Bluetooth, but it was expensive. The device was not operational to show attending Shareholders how it worked. Personally, I didn't get as excited as Jase based on what was presented at the AGM. It looked a little clunky to me, but I very much got the impression from Glyn that the end product will look completely different anyway, which you would expect. As far as time-frames, this second tech is cutting edge, complicated and currently there is nothing like it on the market; so I would imagine the year after next...but who knows exactly how far advanced P&G are, as they did not begin this program yesterday.
Personalisation Patent No. 2013344818 has already been granted in Australia:
And don't forget we have upfront, standstill, and royalty fees over the initial agreement and this presentation tells us the Second Technology is expected to be commercialised over the next 18 months...which brings us to the end of 2018 approx:
The only part that makes me nervous in relation to time-frames for the Second Technology was the recent update in the Investor Conference Call that potentially extends commercialisation from the end of 2018 until possibly July 2020:
2nd tech licence -
Master Licencing Agreement - aim to get done before AGM, but dependent on P&G
They must give us luanch plans with intentions next 18 months And must have products on shelves within 30 months, or we have right to terminate
Provisions in there that alow us to move forward
Will take a full year to get product out
1000 person trial (considerable)
Very exciting for company.
OBJ Price at posting:
4.0¢ Sentiment: Buy Disclosure: Held
(20min delay)