As a shareholder, Key takeaways for me were:- Advanced stages of negotiations that could be attributed to the South China Sea tensions.
- "In advanced stages of negotiations with a few customers" involving both existing (likely USA + 1 Asian country) and new customers (likely countries in the South China Sea as above). Not mentioned in the interview but, Aquabotix did demonstrations in the UAE, in February this year so there may be a client in the works there.
- Products that were sold previously ($150k + $500k) were for testing purposes. In another thread regarding the lawsuit we could see that the claim against Aquabotix was:
- "26. The intentof the drafters of the License Agreement was that “units for testing” that are exempt from royalty payments were limited to units that Aquabotix provided without compensation.Thus, Aquabotix is in breach of the License Agreement based on its refusal to pay royalties that are due."
The intent versus what's written in the license agreement are two entirely different things.
She reiterated that Aquabotix is defending claims against company and even mentioned
counter-claims.
I was pretty happy with the answers I got, keeping in mind that Whitney can't disclose price-sensitive information.
