My understanding is the royalty range for something like...

My understanding is the royalty range for something like Mixandgrowyourwealth is 4-20% with the 20% being the low sales high margin stuff like Bangs (way overpriced beads) and 4% being the kind of deal with a high sales product like POC device cartridges where sales would be hundreds on millions.

I think an eBio size deal is around 10% and the good royalty rate is an offset to the lower upfront. At the AGM there was an indication that if sales proceed as expected the revenue from the eBio product would make the company cash flow positive but their estimate could be out by a factor of 2x

Using your example figures of $32m @ 10% this seems to line up reasonably with ADO being cashflow positive.

If Affy line up their products I expect we are talking 10% of $60-100m of sales by the end of 2013 from this source alone.

Maiden div declared in 2014 would be impressive.