here we go again - did you read ANN? $2M (US) up front and you...

here we go again - did you read ANN?

$2M (US) up front and you have factored that in your calcs above;
$2.5m (US) in shares to be issued within 15 days - so that is not a cash payment;
$3m (US) due in 12 months time - so only the $3m (US) will be outstanding so not sure where you get the $5.5m (US) from - so the $5.5m sitting on the balance sheet is not correct.
the $3m (US) is due and payable and not contingent on anything from what i see so not a contingent liability as not contingent on any uncertain future event occurring - but it is a sundry creditor and still needs to be shown as such in the balance sheet.

A contingent liability is a potential liability that may occur, depending on the outcome of an uncertain future event. A contingent liability is recorded in the accounting records if the contingency is probable and the amount of the liability can be reasonably estimated.