"I am sure there is some sort of time frame discussed in the agreement, AS paid us a small upfront amount of cash but the milestones are what triggers further payments up to $24MM, but still unknown are all other discussions as to what is considered "successful marketing" of B for UP/UPS, and the actual specifics of the Right of First Refusal."
None of that is unknown. It's ALL covered in the Agreement (well, except for a quantification of the "small upfront amount"). Except the phrase "successful marketing" doesn't appear. The term the parties use is "commercialization" and a definition is specified****. Paragraph 4.1 ALFASIGMA Responsibilities appears on page 16. The actual specifics of the Rights of First Refusal and First Negotiation are discussed in detail on pages 11-12. I can copy and paste them for you if you'd like.
Unfortunately for the person who asked you, you announced last week that "I don't read filings", which is obviously your privilege. I was surprised, because earlier you had asked "Is it standard on Wall St that filings get much more attention than do PRs from the companies?" and KarinCA told you that "People trust SEC filings more than just a PR. Especially, on the OTC." I believe that to be true, except I would substitute "serious investors" for "people".
Not reading the filings leads to a need to rely on others, people who may not share your priorities or values, to post about them....or to rely on Company press releases, which tend to provide less detail.
****1.14 “Commercialization” means all activities directed to marketing, distributing, detailing or selling the Compound or the Product (as well as importing and exporting activities in connection therewith), including all activities directed to obtaining pricing approvals. Cognates of the word “Commercialization” shall have correlative meanings.
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