I looked a the RBS research, the half yearly and the 4C
The 4c says ZERO revenue from customers for the 6months to dec 11 but that $1.35m was contracted.
The Half yearly claims about 1.38m revenue and the RBS research says the same and that 1.35m is being paid into the next quarter.
If you look at the Pfizer announcement Dec 12 it says a milestone payment was achieved.
I am assuming the US1.3m is the A$1.382 recorded as income and that it pertains to the Pfizer payment. If that is not the case but the US1.3m is for the J&J deal then where is the Pfizer milestone payment?
The analyst reports seem confident for $5m of FY12 revenue but I see only $1.382m and a bunch of mirrors.
I have kept an eye on PYC for years but something always warned me off it but I keep looking as the potential seems so big. Any help is welcome.
PYC Price at posting:
3.6¢ Sentiment: None Disclosure: Not Held
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