"As previously announced, the Company has focused the business primarily on active and new customer programs in its portfolio of wearable injector systems. In connection with this new focus, the Company has been evaluating the prospects of its non-wearable injector customer programs and attempting to negotiate terminations of certain non-wearable injector customer contracts. The Company has separate contracts with one customer for its prefilled syringes and wearable injectors. In connection with the prefilled syringe contract with such customer, the Company previously received $10.0 million which may be refundable to the customer, including for termination for certain events and is therefore recorded in long-term deferred revenue. Although this $10.0 million is not yet refundable, the Company and the customer are amicably negotiating the potential termination of the contract and the potential repayment to the customer of all or a portion of the $10.0 million potentially through a long-term financial instrument. The outcome of these negotiations is still uncertain."
Md
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LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
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Non--Executive Director
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