The presentation show they initiated engagement with first potential customer in December 2018, and had received their specification and started to implement it.
Business Model.
Licence to semiconductor customers -
Revenue per customer project
I.P. Licencing Fees: Paid upon engagement ranging from $500k to $2m per licence, typically ~ $1m
It it now in the 7th month since their engagement. Coby in an interview said that early customers were asked to pay more up front in exchange for less royalties down the track.
How close are we from receiving this first I.P Licencing Fee for engagement ???
Ann: Q4FY19 Activities Update and Appendix 4C, page-26
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