Everything is accurate here except all of the 200,000 devices sent to P&G were wave I devices (wave I devices for two brands, one is SK-II and the other is widely accepted as being an Olay eye wand).
To speak in plain English, the devices (Wave I, II,III etc) are simply just re-configurations of the micro array that suit particular cosmetic cream applications. The eye wand by nature is small because it needs to be physically close to a confined space whereas the other configurations are designed for wider open space application (i.e. the face).
It's confusing, but essentially you can have multiple work plans, multiple licensing term sheets for the various Wave I, Wave II and Wave III products.
And there can be multiple products within the Wave I, Wave II and Wave III categories, but as far as I know we only have the one applicator so far under 'Wave II' which would appear to be a general applicator to the face used for multiple products over multiple brands across P&G (so think of a general cream dispenser/applicator that would be suitable for numerous creams across multiple P&G divisions).
I bolded the above bit for emphasis, but when the Wave II applicator is released, this is when OBJ, to use an online-gaming term, 'snowballs' or sees rapid exponential growth as our technology is both suddenly and incrementally (as more products are released) hitting shelves at a rate that we cannot currently even dream of.
What we are doing now with the Wave I eye wands (SK-II / Olay) will be minuscule in in comparison with future Wave II and Wave III device(s)/applicator(s), as a Wave I device is a 'one-to-one' device (one wand per one cream), whereas the Wave II applicator is a 'one-to-many' device (one applicator for three creams, five creams, seven creams - who knows?)
The MLA will streamline alot of the negotiation process as OBJ/P&G don't need to re-invent the wheel for each new product/brand, which will greatly speed up the entire process from clinical trials to the end product on the shelves. Due to the majority of the basic agreements will be set in stone already and then Annexures will be added to the MLA with any variations/alterations to the MLA for specific products/brands as negotiated.
OBJ is snowballing, we just cannot see it yet
OBJ Price at posting:
9.3¢ Sentiment: Buy Disclosure: Held
(20min delay)