BioCurex, Inc.(fka BOCX)

[Gold Seeker]

<<<<The staff believes that revenue generally is realized or realizable and earned when all of the following criteria are met:

1. Persuasive evidence of an arrangement exists,3

2. Delivery has occurred or services have been rendered,4

3. The seller's price to the buyer is fixed or determinable,5

4. Collectibility is reasonably assured.6 >>>>

The third one is the problem. The agreement as now revised could just idle for an eternity and produce no revenue. See note 5 below and the need for minimum royalties.

"SFAC No. 5, ¶83(a); SFAS No. 48, ¶6(a); SOP 97-2, ¶8. SOP 97-2 defines a "fixed fee" as a "fee required to be paid at a set amount that is not subject to refund or adjustment. A fixed fee includes amounts designated as minimum royalties."