The binding term sheet is exactly that binding. It sets out the term at a high level that then gives guidance to the legal agreements. It is enforceable and actionable. China is a huge market and I hardly think MYQ is putting its eggs in one basket. The fact is this is by virtue of population size a big opportunity, but let's be realistic. 28,000,000 potential users in a population of 1.2 billion isn’t meaningful in China. But it is meaningful to MYQ. From the technology safety perspective. The tech is on the device and that means the device needs to be hacked, the code needs to be unravelled to achieve this. It happens and it can happen to the biggest companies on the planet. Its no bigger or smaller risk, than someone downloading one of the existing partners released apps and trying to do this if they want it so badly. I don’t believe it is where it is without all thought and precaution being taken to protect the technology.
MYQ Price at posting:
$1.84 Sentiment: Buy Disclosure: Held
(20min delay)