Ann: MX1 - Varex Agreement milestones achieved, page-3

The agreement included milestone payments, varex buying a stake in mx1, and appointment of a vertex member on the board. I don't believe there is licence payments. MX1 benefits from the exposure of the technology, experience of varex, etc.

There is some exposure to risk if Varex were to exploit the relationship. However, the medical sales have been sluggish, so not much to lose, and Varex products don't directly compete. The real gains will come from CT scanner, baggage scanner and bomb disposal units. One day...