When I first seen that paragraph yesterday it took me right back to the PR when HCTI said the deal was done and when the modifications to the product was completed and on the shelves selling HCTI would begin to share in the revenue.
It makes putting PPG and HCTI together as simple as adding 1+1+ 2.
Simply read what our PR had to say...then add it to what PPG said yesterday and you get the obvious answer...they are partnering.
Hybrid will work with its Fortune 500 partner to modify and then commercialize one of its products based on its non-isocyanate polyurethane platform technology. Upon successful completion of the product modifications, Hybrid will co-own any new patents based on these modifications with this partner and will give to the partner, subject to agreed upon mandatory minimum order quantities to be placed by the partner, worldwide exclusive rights of the modified product for commercialization within the partner's respective industry. Once commercialized and after a reasonable ramp up period, management expects, based on estimates provided by the partner that revenues to Hybrid from the sale of this product would reach $20M per annum.
Their Quote From Yesterday: "We do have an agreement with our retail partners to begin some newer branding. I don't want to get into specifics because you have to wait until you see it on the shelves. But we also have some new wins for 2016 that will require replacing some products on the shelves. So all those costs are frontloaded into Q1 prior to the paint season. And so it's a one-time cost we want to make sure you were aware of.
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