Mr. Barry Kaye related to me via the secretary that the accounting for the $500K is found on Page F-13 of the 10-k report.
8. License Deposits
"License deposits consist of monies received as deposits on sublicense agreements, primarily comprised of deposits from Renown in the amount of $498,000 and from Almont in the amount of $300,000. These deposits are to be recognized as income on a straight-
line basis over the remaining period until expiration of the last remaining CSRV® patent in force in 2027. Through December 31, 2015, the Company has recognized a total of $91,000 of the Almont deposit as revenue. The Company expects that sublicense-related activities by Renown may commence within the next twelve months and that it
will begin recognizing revenue at that time. Recognition of revenue from the Almont license is included in the statements of operations for the years ended December 31, 2015 and 2014. The current portion of the license deposits represents the portion of the license deposits expected to be recognized as revenue within one year from the balance sheet date. The balance of the license deposits is included in non-current license deposits.
Sublicensing fee revenue for the years ended December 31, 2015 and 2014 amounted to $94,000 and $19,000, respectively. Included in sublicensing fee
revenue for the year ended December 31, 2015 is $75,000 non-refundable sublicense fee deposit received in 2002 that was abandoned by the licensee."
Make sense?
8. License Deposits
"License deposits consist of monies received as deposits on sublicense agreements, primarily comprised of deposits from Renown in the amount of $498,000 and from Almont in the amount of $300,000. These deposits are to be recognized as income on a straight-
line basis over the remaining period until expiration of the last remaining CSRV® patent in force in 2027. Through December 31, 2015, the Company has recognized a total of $91,000 of the Almont deposit as revenue. The Company expects that sublicense-related activities by Renown may commence within the next twelve months and that it
will begin recognizing revenue at that time. Recognition of revenue from the Almont license is included in the statements of operations for the years ended December 31, 2015 and 2014. The current portion of the license deposits represents the portion of the license deposits expected to be recognized as revenue within one year from the balance sheet date. The balance of the license deposits is included in non-current license deposits.
Sublicensing fee revenue for the years ended December 31, 2015 and 2014 amounted to $94,000 and $19,000, respectively. Included in sublicensing fee
revenue for the year ended December 31, 2015 is $75,000 non-refundable sublicense fee deposit received in 2002 that was abandoned by the licensee."
Make sense?
