Yeah I would concur...even a paltry 9% royalty for instance could still translate to hundred of Millions for a first regional deal ....that would be the first deal, they could afford to take a hit/sacrifice a little...the next region after that must and will be north of that in terms of beneficial parmatres for PAR. They would charge the next region more royalty as the first mover advantage is gone, we are further down the track and it is more de risked for the next and subsequent region(s).
This is why it is also in our interest to prolong some of the future deals to some extent, but I agree, we need one to begin with one and the earlier the better.
PAR Price at posting:
54.0¢ Sentiment: Buy Disclosure: Held
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