I need some assistance/clarification on the following two items in this report.I hope someone can help:
1. In the 2018 financial year about 75% of the POH revenue from external customers was generated in Switzerland in the Personal Care segment.In 2017 this sector generated nil revenue.
2"Strides agreed to forego all claims against Phosphagenics including costs, in consideration of a one-off cash payment of 100,000 GBP (AUD $184,877), that was accrued at 31 December 2018. In addition Strides was granted: i) first right of refusal to “all POH human TPM® assets existing and not otherwise encumbered” at signing of the agreement, the terms of which will be negotiated in good faith at a later time, and ii) a discount on the upfront, milestone and/or royalty payments associated with any/all deals which Strides completed with POH to a total accumulated value of the lesser of: i) 5 million GBP; or ii) the costs claimed and submitted to SIAC as part of the SIAC Arbitration No. 001 of 2016 and SIAC Arbitration No. 002 of 2016"
I understand the cash payment bit of $184K.The rest relating to deals with Strides in good faith and at a later time etc leaves me totally in the dark in relation to future events.
Kens
POH Price at posting:
0.3¢ Sentiment: None Disclosure: Held