and because it is a sub license, Monash Uni take 15% of what Ionic earn - not sure if off the top or if 15% of the profit
[if ionic had a stand alone development, then Monash Uni cut is 5%]
so now it is 15% of 85% of 25% of the JV - SER holding reduced from 16% to 15% per the quarterly
and because it is a sub license, Monash Uni take 15% of what...
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