The more you look at where OBJ is regarding its product...

The more you look at where OBJ is regarding its product development and launch cycle the more you release why specific revenue guidance has never been provided. Whilst the $33k was clearly below expectation, the actual expectation was never defined. Would $100K have been considered acceptable?

Without giving any expectation Matt just says
"I understand the number is still lower than you and others expected."

However, there remains an obvious expectation that revenue will increase this year and obviously more so as new products hit the market next year. Is $200K acceptable for the next quarter? It's quite arbitrary but it better be an increase, right?.

His other standard response is as follows:

"Firstly let me reiterate that we receive royalty fees up to 45 days from the end of each quarter, therefore royalties shown in this 4C were for products sold up to December 2016, at the commencement of the roll out of Wave I in China.

We are not providing guidance as we just are not in a position to do so. The reason for this is as the licensor there is no obligation from our licensee to provide any indication of this. We are kept abreast of the broad marketing plans and activities being undertaken by the licensee, but nothing more specific we can communicate to the market.

P&G is very cautious with the introduction of new products and is taking it step by step. So far we are happy with the progress. The process has commenced with the eye wand (Wave I) in selected markets with Olay (mainly China to date). In addition we understand, but not confirmed by P&G as yet, this will move to SKII in the coming months. So P&G expects revenue to build as products are launched and new products are developed using OBJ technology.

A key step in this process will be the launch of Wave II, which as announced is advised by P&G to occur in the 3rd quarter of the calendar year. There will not be an immediate surge as has been prophesised by some, but rather a gradual build-up as a new product is introduced to the various markets that changes consumer behaviour. The timing is flexible for each country but OBJ is very comfortable about the rollout and build-up progressively, not the hit and miss approach. That is why neither P&G nor OBJ has ever given specific timing for product launches etc. As the business builds steadily from product to product and country to country, the learnings from one market influence the marketing for the next, and we agree that this is the best approach.

The strong initial sales and consumer responses from the introduction of diamagnetics has been the catalyst for P&G committing to the second OBJ technology, and it is building its plans for the next generation of products that utilise diamagnetics, which speaks volumes to its confidence and comfort on building product lines on OBJ’s various technologies."

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PS the information I have is that Wave II will be launched in Japan.