Wouldn't put it past Pivacs as nothing on paper appears as it...

Wouldn't put it past Pivacs as nothing on paper appears as it seems with them.

But IIRC the HX is sitting in the balance sheet as an asset as the development costs have been capitalised which is fair enough.

So if they treat any JV contribution as revenue payment for the HX, they would then have to sell the entire HX asset which would surely trigger a capital loss on sale of assets.

So not sure if that trick would work, but there is no doubt there will be funny buggers in some shape or form to get them to the $10m.

I reckon they will play around with the date and June 30 2020 won't be the exercise date, I reckon it will be more like 12 months from the sale of their first home or something like that.

Any wonder the SP is where it is with no communication or transparency of milestones.