Next 12 months expectations, page-29

IMO the term sheet was the equivalent of management saying licensing agreement 'imminent' although this time P&G are also saying 'imminent'. I would expect that we will move up once we get the official licensing agreements if history is any indication. This time we will be receiving 2-3 licensing agreements depending on whether the Initial SK-II wand re-licensing will be announced as a seperate agreement or if it will be slotted in with the speculated olay magnetic wand as well.