Ann: Revenue Update, page-46

Interesting to see the varied viewpoints this has created in this forum.

I understand that this is an initial payment for a new launch and marketing needs to kick in, but on the other hand it does seem light on to me if the technology etc is as expected. Would expect upfront fee to be better. loyalty fees for a launch are probably fine.

I am attached to a lot of slow builders in my portfolio that will take a while to build and I dont see this as any different.

I do think that the confidentiality around the agreements clouds our (as investors) understanding of the overall agreements and expected net worth over time. It is the comments re release of information like in the October 16 announcement that makes it hard for us to predict progress. the comment referred to in that announcement was the :"Further details of the Licensing Term Sheet will remain confidential."

I understand the need for confidentiality in the agreements so maybe we just have to wait a bit longer so we can get better clarity.