joamval, this is the response from Cliff Flowers that you wanted to see:
in response to
by
Mosaic ImmunoEngineering is a nanotechnology-based immunotherapy company developing therapeutics and vaccines to positively impact the lives of patients and their families.
Message: joamval, this is the response from Cliff Flowers that you wanted to see:
My question (which was first posed by another poster....I'm sorry, I can't
remember who it was: srandl??) anyway:
Shareholders are led to believe that TPL is only pursuing one time payments. If this has changed in any way, then I believe it is the responsibility of our BOD's to inform the shareholders that other methods of collecting licence fees other than one time payments is being pursued.
To which Cliff Flowers said:
Deb,Your comments are always appreciated, however It would be inappropriate for me to communicate one on one to you regarding some of your concerns. I believe the Form 10-Q and Rick’s subsequent shareholders letter did the best we could do to work within the confidentiality restrictions faced by us, while at the same time trying to impart some meaningful information regarding the February quarter’s results. I refer you to the opening of Rick’s letter that I will excerpt hereon that was carefully worded to address similar shareholder concerns: “I will not, in the limited context of this letter, recount all the information contained in our April 9, 2008 earnings release, which fully reflects the financial results of all transactions announced prior to the end of January 2008.” And the Company’s revenue recognition policy as stated in the footnotes to the financial statements which reads: "1. Revenue Recognition Accounting for revenue recognition is complex and affected by interpretations of guidance provided by several sources, including the Financial Accounting Standards Board (“FASB”) and the Securities and Exchange Commission (“SEC”). This guidance is subject to change. We follow the guidance established by the SEC in Staff Accounting Bulletin No. 104, as well as generally accepted criteria for revenue recognition, which require that, before revenue is recorded, there is persuasive evidence of an arrangement, the fee is fixed or determinable, collection is reasonably assured, and delivery to our customer has occurred. Applying these criteria to certain of our revenue arrangements requires us to carefully analyze the terms and conditions of our license agreements. Revenue from our technology license agreements is generally recognized at the time we enter into a contract and provide our customer with the licensed technology. We believe that this is the point at which we have performed all of our obligations under the agreement; however, this remains a highly interpretive area of accounting and future license agreements may result in a different method of revenue recognition. Fees for maintenance or support of our licenses are recorded on a straight-line basis over the underlying period of performance.Our consolidated variable interest entity recognizes revenue upon shipment of its product and recognizes revenue on its short-term installation contracts as time and materials costs are incurred."Because of the large amount of shareholder feedback have enlisted our IR firm to assist us in providing consistent responses. If you have further inquiries that are along these lines please forward them to the address I have cc’d hereon. Thanks
Cliff
Cliff NEVER said, DEB we got ALL we're getting. Read the 10Q.
And for me, he was also saying : READ between the LINES.
I say there IS more money coming and dear lord it better be a LOT.
Deb
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May 17, 2008 02:50PM
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