Anavex Life Sciences Corp (AVXL)

[nobrainerstocks]

Sure, why not. Wouldn't be the first time they grant Anavex money. After all, what is a couple of million dollars for a GOVERNMENT. Peanuts.

During the year ended September 30, 2015, the Company was awarded grant funding in the amount of $286,455, of which the Company received $71,614 during the year ended September 30, 2015 and the remainder will be received in equal semi-annual instalments over the 24-month commitment. The grant was received in exchange for a commitment to provide research and development for preclinical validation of Sigma-1 receptor agonism as potential treatment for Parkinsons disease.

The grant income was deferred and is being amortized as an increase to other income over a two-year period as the related research and development expenditures are incurred. During the three months ended December 31, 2015, the Company recognized $39,055 of this grant on its statement of operations.

During the three months ended December 31, 2015, the Company recognized other grant income of $571,093 in respect of a research and development incentive program offered by the Australian government.