Originally posted by K9 nouse
Didn't Pman estimate $160K?
Not having a go Pman....not in the slightest....just curious as to your thoughts on the difference?
Hi No issue,
I said it would be sub 200k being the royalty
Obj received 290k which includes royalty for Sept
June accounts had outstanding Acc Rec of 254k to collect, made up of
160 accr inc (being royalty)
12 Trade debtors (already invoiced)
45 GST refund (still to collect) not in 4C
38 Prepayments (not collectable)
So deduct 160 and 12 from 290 and that difference was collected after the June period and not known about before the accounts where closed, considering the royalty numbers where delivered by a statement mid Feb (doesn't leave much time).
It could be an adjusted royalty or more likely Sept normal invoicing for work done (recoveries).
Regardless the value was very small but in line with the manufactured units to date.
I found the comment that the royalties do not tie into the manufactured units interesting. As we know 1300k units have been produced over the year and a halfish and Management get a report that tells them how many units have generated royalties. Be interesting if they make further comment on this.
Anyway that will now be it for crap royalties as the next one will have the SK2 booster sales and the restock of Olay and the qtr after that we can add the integrated product (hopefully it will be two separate products not just two of the Geno line).
Also interesting that no mention of units manufactured this time. Given the build up for the Integrated product has to be underway it would have been interesting.
(20min delay)