Ocata Therapeutics Inc fka OCAT

[rocky301]

Statements on topic,

Contract called for the following:

1)upfront license fee of $750K..
2)additional fee of $250K within 30 days
3)additional fee of $100K in 90 days
4)another $300K due within 10 days upon Filing of IND with FDA

Total: $1.4 Million due ACT...ACT has been paid this amount and accounted for it in 10K(see below)

The other $500K would be due if CHA recives grant funding from Republic of Korea for either the RPE, SCNT or Blastomere technology in the amount of 7.5 Billion Korean Won.(approx. $6.5MM US Dollars)

That accounts for the $1.9MM..

(page 70 of 10K)
On March 30, 2009, the Company entered into a second license agreement with CHA under which the Company will license its RPE technology, for the treatment of diseases of the eye, to CHA for development and commercialization exclusively in Korea. The Company is eligible to receive up to a total of $1.9 million in fees based upon the parties achieving certain milestones, including the Company making an IND submission to the US FDA to commence clinical trials in humans using the technology. The Company received an up-front fee under the license in the amount of $1,100,000 during the second quarter of 2009, and another $300,000 progress payment on December 3, 2009. Under the agreement, CHA will incur all of the costs associated with the RPA clinical trials in Korea. The Company is recognizing revenue from this agreement over its 17-year patent useful life.
http://www.sec.gov/Archives/edgar/data/1140098/000114420410013897/v177442_10k.htm