GSK reported Relenza sales at 13 million GBP which at 7% royalty is 0.91M GBP
https://forms.westpac.com.au/forms/forex.nsf/f_forexCalculator?Openform&StartPage=2
At the worst exchange rate, say Peter Cook collect the royalty in Australian dollars cash 0.91M divide by 0.4671 = $1.948 million. If by t.t. at 0.4589 it will be $1.98 million
Ooops, Peter Cook reported a sale of $20.8 million compared to $28.3M (13M divide by 0.4589)
$7.5M gone missing! Where is it? The speculations are:
1) The $7.5M is for the sales of Relenza call options
2) There were some Swiss Bank accounts movement resulting in Exchange Transfer Losses.
3) Peter Cook is an Idiot who cannot tell the difference between and Australian Dollar note and a US Dollar note.
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