@travelightor
They earned $311k licence fee revenue in FY11 (meaning $128k in 2HFY11, given $183k was earned in 1H), and $83k in FY12 - it's disclosed in note 4 to the FY12 statements. In FY13, the licence fee payment goes to zero and that's the last explicit mention of it in the disclosures. My assumption is that it's a classification issue and the revenue from the licence fee got folded in to another category, quite possibly "other revenue". If the licence fee deal died/fell apart, my expectation is that they would have been forced to subsequently disclose an impairment/write-off of receivable given they took a $900k receivable asset in 1HFY11. There were no receivables impaired in FY13-14 (which is where i'd expect to see it, because explicit disclosure of licence fee revenue stopped in FY13). I could be wrong about this as accounting isn't my strong suit.
I've always assumed that the 66% of DMA not owned by ONT remains owned by the business' founder, Safa Souzani. Agree with @MarsC that, if Holmes owned the other bit, i'd expect to see that disclosed in the related party transactions.
I think you've got the DMA payment plan around the wrong way? I think the service is rendered (and revenue booked) by ONT, and then the cash gets paid by the patient via installments under the plan. At 30/6/17, ONT had $835k in receivables from the treatment plan (see note 12) and "treatment plan receivables are recognised in the accounting period in which the dental services are provided". I assume it's no different to buying a TV from Harvey Norman under one of their finance plans - client/patient gets the product/service immediately, then pays it back in installments over a predetermined period of time. I suspect, like Harvey Norman, the customer gets slugged very heavily if they miss an installment/default.
Agree with Mars re: self-employed/employed dentists.
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