Ann: Master Licensing Agreement signed with P&G-OBJ.AX, page-217

Sometimes its not helpful to read imprecisely worded announcements to literally. Yes it does read as if wave 1 AND wave 2 were among the 200k devices delivered to P&G, but that is not true. At the Adelaide presentation, we were told that the 200k devices were ALL wave 1 (a mix of Olay and SK-II). Furthermore, wave II manufacturing has not even begun, and the product is not expected to launch until later next year. This is not what people want to hear, but its what we have been told, and I see no reason to support a more optimistic timeline (that's never been a good idea with P&G).