Ann: OBJ Licenses Second Technology to Multinational Partner, page-138

why I do not think milestone 3 will be hit

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6
0			Mil 1	Mil 2	Mil 3	Total
1
2	directors		837,000	558,000	139,500	1,534,500
3	staff		658,600	439,067	109,767	1,207,434
4	total		1,495,600	997,067	249,267	2,741,934
5	Percentage		55%	36%	9%	100%
6	Amortisation		283,047	188,698	47,175	518,919
7	2015 annual report	1,212,553	808,369	202,092	2,223,015
8	Amortisation		503,740	335,827	83,957	923,524
9	2016 annual report	708,813	472,542	118,136	1,299,491
10	Expected 4D		220,694	147,129	36,782	404,605
11	Balance expected	488,120	325,413	81,353	894,886

Above is what I expected to see re the share option reserve and amortisation

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6
0		What Happened
1	2016 annual report	708,813	472,542	118,136	1,299,491
2	Reported 4D said				1,504,224
3	???? Where did this come from			(1,495,601)
4	Closing Balance Note 7				1,290,868
5		Made up of
6	Share grab 10m @ 10c				1,000,000
7	Expected					404,605
8	write off remaining 20m milestone		81,353.36	81,353
9
10						1,485,958
11		?? Costs of allocation		Difference	(9,643)

Somehow 1.495m was created to get the closing balance. So it is potentially made up of the share grab, the period amortisation and the write off of future amortisation of milestone 3 . Small difference could be share costs for the new shares

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7	Column 8
0	Expected remaining	488,119.52	325,413.12		813,533
1						477,335
2						7,019,638	.068c per share

the 1.290 balance is made up of 813 to be amortised from milestone 1 & 2 + 477k new which must be new shares issued which at .068 is about 7m shares all to be expensed by same period, so they must be related to milestone 1 & 2 success. Considering the new deal, there is a lot of work by consultants etc to get the job done. A few million to get body guard trial done, a few million to negotiate the new deal????

food for thought.