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Message: Re: It's simple folks...RJ

Jul 18, 2007 12:32PM

Jul 18, 2007 12:53PM

Bioagra pays a royalty to PBI based on Bioagra's sales. When the percentage of that royalty is decreased from 7.5% to 2.5% it increases Bioagra's bottom line by 5%. PBI was providing test result data and support for their patented process in exchange for the 7.5%. Now that PBI's process has beeen improved upon by Bioagra, Bioagra no longer needs ths outdated test results and suport. For this, and other reasons, the terms of the license agreement were renegotiated and resulted in what was reported in the 8K. It's as simple as that.

-zties


Jul 19, 2007 01:17PM

Jul 20, 2007 03:57AM

Jul 20, 2007 06:05AM
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