NeoGenomics agreed to use its best efforts to commercialize certain products within one year of the date of the license, subject to two one-year extensions per product if needed, including a “Plasma Prostate Cancer Test”, a “Pancreatic Cancer Test”, a “Colon Cancer Test”, a “Cytogenetic Interpretation System”, and a “Flow Cytometry Interpretation System.” NeoGenomics has completed both of its one-year extension terms of the license. While those one-year extension terms are complete, the Company and NeoGenomics continue to collaborate on efforts to commercialize the licensed technologies.
If NeoGenomics has not generated $5.0 million of net revenue from products, services and sublicensing arrangements by January 2017, we may, at our option, revoke the exclusivity with respect to any one or more of the initial licensed products, subject to certain conditions. The Company does not expect NeoGenomics to generate $5.0 million of net revenue related from products, services and sublicensing arrangements by January 2017.
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King, let us face the facts HDC was lucky to have had any monies from NeoGenomic. I think HDC has been fraudulent as far as I'm concerned. Just look at the past 13 plus years of HDC history it is clear to me. And as an on going salute to the SOS different day just look at the "SVM Capital" another joke to keep the shares moving in the direction needed. NOPE! I don't blame NEO but clearly HDC just look at BQ when they had the agreement for separation which was another one of HDC BS move.
