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Re: turks post# 11517

Monday, 03/20/2017 9:49:23 AM

Monday, March 20, 2017 9:49:23 AM

Post# of 16885
All they've ever said was "Under terms of the licensing agreement, Braeburn will pay Titan tiered royalties on net sales in the U.S. and Canada at rates ranging from the mid-teens to low-twenties..."

So I think "mid-teens" means 15% based on my review of Braeburn's 9/30/16 financial statements.

As a "tiered royalty", the rate increases if certain annual sales thresholds are met.
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