sidebar - The HL ROFR expired on April 15th. RVX does not have to refund this money as it ran full term so the $8 mm was earned. It was recorded in the financials as a liability until earned and was removed from there in the April 30th year-end results. Below is from April 30th financials.

10. Unearned licensing rights fee and licensing rights fee income

On October 23, 2017, the Company entered into a Right of First Refusal Agreement with Hepalink USA Inc. (Hepalink USA), a subsidiary of Shenzhen Hepalink Pharmaceutical Co., Ltd. ("Hepalink"). Under the Agreement, Hepalink USA was granted a right of first refusal in connection with the licensing of the right to develop, manufacture, and commercialize pharmaceutical products containing RVX-208 (apabetalone) in the United States until April 15, 2019. Hepalink USA paid CAD$8.0 million to Resverlogix in consideration for the right of first refusal granted (the “Fee”). Pursuant to the Agreement, if Resverlogix and Hepalink USA entered into a license agreement with respect to the US Licensing Rights, the Fee would have been credited against any payment obligations of Hepalink USA thereunder. Otherwise, the Fee was refundable, in whole or in part, until termination of the Agreement. The Unearned Licensing Rights Fee was recognized as a current liability from the commencement of the Agreement until the April 15, 2019 termination date (at which time it was no longer refundable), and at which time the Fee was considered earned, and recorded as other income.