First PO Should have been received per 8/22/17 8-K.
"The term of the Agreement began on August 22, 2017 and shall continue for a period of three (3) years, unless earlier terminated."
"The Company will have up to 14 calendar days from receipt of a purchase order from Omaera to deliver the requested Products to Omaera. The Company shall send an invoice to Omaera for each shipment of its Products. During the first 12 months of the Agreement, Omaera will pay the full amount of each invoice in cash, without any deductions, by means of bank transfer on or before the date of shipment."
"Pursuant to the Agreement, Omera [sp. Omaera] is required to purchase a minimum number of pills from the Company for specified periods over the term of the Agreement (the “Minimum Purchase Commitment”). The minimum number of pills required to be purchased by Omaera for each period are as follows:
First Half of First Year 1,080,000 Pills..."
"No later than three months from the date of the Agreement, Omera [sp. Omaera] shall purchase and hold a minimum of three months stock of the Products on a firm purchase basis throughout the term of the Agreement to meet anticipated market demand."
IMO the first PO should have been received for the Agreement to begin as written. Omaera should be "holding" a minimum of three month stock no later than three months from the date of the agreement (8/22/17). Therefore, they would be rquired to submit a PO by Nov. 8th which is 14 days prior to Nov. 22nd at three months from start (90 from 8/22 is actually 11/20). A minimum three month supply based upon the above is 540,000 pills at $.65 per pill = $351,000.00. Any sale of those pills puts them under a three month supply. Technically, the first purchase order should exceed those numbers to maintain a 3 month supply.
