Agree Seeker, they bought the license for $1.5 M payable over 3 quarters @ $500k per quarter. The license is perpetual. Seems to me, we could record the payment in that quarter as an installment payment with the 7% income to be recorded in the quarter earned.
I did not realize there was no defined term to the licensing agreement. If that is the case, I apologize for my oversight. Has the actual licensing agreement been disclosed? If so, where can I find it? If not, how do we know there is no expiration date?
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