Update from Glyn, page-276

I suggest holders refer back to the Milestone 3 wording in the 2014 AGM prospectus - it refers to $20m received in "licensing fees". There is no scope for that including government subsidies, or indeed payments from partners for utilising OBJ's clincial/lab services before a product is launched.

What it could include, based on Glyn's previous correspondence with holders disclosed on hotcopper is:
- upfront exclusivity fees for use of OBJ tech (from any partner, and could include fees payable even though the partner chooses not to launch a product)
- royalties (e.g. 2% of wholesale price of every magnetic wand kit sold)
- general licensing fees payable by any partner pursuant to any kind of technology licensing agreement.

Just in my opinion, of course. But I think when Glyn says "could come from any source", he means any partner and any kind of fee that is payable for use of OBJ tech however that might be calculated.

J