3 Jan 2018
The delay in the receipt of the $1m deposit has been caused by a combination of operational and logistics factors, including damage in transit to some of the bulk sample containers transported from MGC Derma’s manufacturing facility to the customer Varm Cosmo. In addition, and as detailed in the Operational Update released on 18 December 2017, the customer Varm Cosmo also requested additional bulk samples, including a new formulation, from MGC Derma prior to completing its first commercial order and paying the initial $1m deposit. Most of these new bulk samples were dispatched from the Company’s manufacturing facility in Slovenia before Christmas, with the final bulk sample to be shipped in early January.
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