Imminence Truly Inevitable, page-48

I'm confused by the language and terminology used by OBJ with respect to the P&G relationship.

I'd appreciate it if (assuming someone knows the answers with absolute clarity - not kinda thinks they know how it works) could please explain.

Here's my understanding.

There is the overarching PDA. I get that part.

Under the PDA there are "work plan/s" which can target different activities - such as developing a product - such as the wand "wave 1 applicator".

From a work plan - wave 1 applicator as example - if this is commercialised then there will be a "licensing term sheet". This term seems to be interchangeable with "licensing agreement".

Once a licensing term sheet has been executed is that the final hurdle for a work plan to be commercialised?

In the instance of the wave 1 applicator are we still waiting for anything to be executed? Or now simply waiting for a large order to be announced and then whatever the quantity ordered is the payment will be in line with the already executed "licensing term sheet"?

And what is it exactly that there is so much anticipation about being "executed" in the imminent future? I'm of the mind that the "licensing term sheet" for the wave 1 and wave 2 devices have now both been executed?

Thanks for your help in advance.