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MikeDDKing

05/02/12 8:09 PM

#273 RE: littlefish #271

The royalty drops to 5% at the 1 year anniversary. So, the last half of the year or so will have the lower rate. I don't have the exact date with me. The 5% drop in royalty rate corresponds to an annual pre-tax improvement of approximately $0.011 per share. The royalty drops to 0% at the 2 year anniversary. From there on we will have a $0.022 per share cumulative improvement in earnings.