NNVC - NanoViricides, Inc. Message Board

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Biotech / Medical : NNVC - NanoViricides, Inc.

NNVC 1.260

+0.4%

11:49 AM EST

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From: HardToFind	2/6/2019 5:50:27 PM
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At the base of every great fortune there is a great crime. -Balzac From article 3.3 of the revised (1 Sep 2005) Nano licensing "Agreement" (I'm referring to it as an "agreement", but I'm not sure if anybody, besides Anil Diwan and Leo Ehrlich, agreed to this.) 3.3 Royalties. Nano shall pay to TheraCour a royalty of 15% on its net sales and other revenue proceeds of Licensed Products. Net sales are defined as Sales at gross invoice amounts less any adjustments for returns, allowances, or discounts taken against the sales and no other adjustments. Other Revenue Proceeds include all revenues or consideration generated as a result of the development of Licensed Products or from further licensing by Nano of any rights resulting from the Licensed Products or Technologies. Both Net Sales and Other Revenue Proceeds shall include cash as well as non-cash considerations, irrespective of whether such consideration is with or without monetary value. Q: I have a question for accounting folks: Based on the royalty clause (article 3.3) in the above "agreement", what drug development or licensing expenses does Nano get to exclude from "net sales" for royalty calculation purposes?

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