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Re: VanWas post# 45111

Tuesday, 09/15/2009 12:55:38 PM

Tuesday, September 15, 2009 12:55:38 PM

Post# of 111729
As I recall, the $250,000 is a licensing agreement. I don't recall ever seeing terms of the agreement nor payment terms. I believe when the revenue is recognized in the financials depends on this and if the company uses cash or accrual basis for accounting (I would think it's accrual). We don't know if the payment is dependent on some execution, due in one lump sum, or $1 per year for the next 250,000 years. Anything goes until we know the terms.