Some of the newbies may also not be aware that we simply wouldn't be here without Cronimet.
Initially they made a commitment of $8m (I have not gone back to fact check this) of which $5m was a prepayment for product and $3m was to get it moving (this may have been share purchase, like I said I have not gone back to fact check)
Point is without their initial faith and cash we would not be where we are right now.
Under a 50:50 JV all costs and revenue are shared equally. Under this one EQR also gets a 2% royalty of the revenue, before the split.
I have not really looked to hard into it but given the initial prepayment it may be unclear in accounts and cashflows as to how the revenue and costs are shared. Having said that I am not sure if there is a requirement to provide accounts separately for the JV or if any have been distributed.
EQR Price at posting:
5.8¢ Sentiment: None Disclosure: Held
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