NNVC - NanoViricides, Inc. Message Board

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Biotech / Medical : NNVC - NanoViricides, Inc.

NNVC 1.230

-2.0%

10:14 AM EST

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To: HardToFind who wrote (11884)	2/6/2019 7:11:31 PM
From: old 'n cranky	Read Replies (1) of 12873

A. For at least the second or maybe the third or fourth time....NO expenses are deducted from Gross invoice amounts to get to Net sales. The only deductions to get from one to the other are returns or sales discounts. For example: If NNVC sells 100 doses of a drug at $20/dose the resultant net sales are $2,000. The invoice amount should be $2,000 (contingent only on whether the buyer or seller pays shipping charges and taxes, if any). The royalty due TheraCour would be $300. IIRC the royalty is not contingent on the payment of the invoice, so in theory even an unpaid invoice would result in a royalty payment*. If NNVC allows returns and the customer was to return 10 doses of the drug, they would he entitled a credit of $200 and NNVC would be entitled to a $20 credit for "overpayment" of royalties. The term Net Sales is a VERY straightforward and universally understood term...in and out of the accounting profession. It SHOULD NOT be confused with Gross Profit or Net Profit, both of which ARE the result of the deduction of certain costs. The license seems quite clear in indicating that the royalties are based on Net Sales. If you can find ANYONE who defines Net Sales differently please tell them that they are full of shit on my behalf. *I would expect this issue to be addressed in the next license agreement :o)

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