GMV 0.00% 3.9¢ g medical innovations holdings limited

It is UP TO US $22 million for the purchase order for both...

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    It is UP TO US $22 million for the purchase order for both products from 1/4/2019
    ie: the Prizma which has a FDA and the GMP (patch) which doesn't have a FDA and won't get get a FDA until sometime in 2020. So the only product producing revenue this year will be the Prizma.

    Is the US$22 million the slam dunk some think it is? Is it a back ended PO?

    The Orders are for the ‘Prizma’ Medical Smartphone Case(PRIZMA), as well as G Medical’s Vital Signs Monitoring System (VSMS or G Medical Patch (GMP))over a 24-month term,commencing on 1 April 2019,for aggregate payments of up to~US$21.85million. Payments are scheduled to be made on a monthly basis of amounts varying between approximately US$90,000 and US$1.33million

    The additional material terms of the Orders are summarised below. Payment: Payment shall be made on the terms of 2% 10 days, net 60 days from the date of invoice. Upon request from G Medical, the Purchaser shall provide Seller with a rolling letter of credit (LC) that will be issued on a quarterly basis (e.g. for 6 consecutive quarters on the first PO) but drawn down monthly in accordance with the unit draw down schedule set forth in each Order.Changes: The Purchaser has the right to make changes to the Order, including as to quantities and delivery schedules. If any such changes cause an increase or decrease in the cost of or the time required for the performance of any work under the Order, an equitable adjustment will be made in the contract price or delivery schedule, or both.Pricing: If G Medical reduces its prices during the term of the Order, the reduced price will apply to the Order thereafter. Termination:oEither party may terminate all or part of the Order for cause at any time by written notice of a material breach of the Order terms to the other party. The breaching party shall have 30 days to cure such breach before a termination becomes effective. Upon such termination, the Purchaser's liability will be limited to reasonable termination charges mutually agreed by G Medical and the PurchaseroTheOrder shall terminate automatically if an insolvency event occurs to G Medical; The Order is subject to other customary terms and conditions.

    Last edited by 61212305: 21/05/19
 
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