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TOPIC: Olympus-Cytori JV question

Olympus-Cytori JV question 13 May 2013 20:12 #454

  • myownhedgefund
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In the earnings press release and discussed on the call was the following:

***As part of the agreement, the Olympus-Cytori Joint Venture will return all rights to Cytori at closing in exchange for alternative payment options including: $4.5 million within one year or $6 million within two years.***

Now in the 10Q Item 18 and the bottom of page 16 is the following:

***
The Termination Agreement provides for Olympus to sell its interest in the JV along with certain assets and technology patent rights to Cytori in return for payment under one of several payment options (to be selected by Cytori) as defined in the Termination Agreement. The payment options call for a minimum of $4,500,000 up to a maximum of $16,000,000 to be paid by Cytori in installments over periods ranging from one year to six years.***

Why the disconnect and did anyone else see/hear about this 16 million dollar figure anywhere ?

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Olympus-Cytori JV question 14 May 2013 01:34 #455

  • fas
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Hedge-

No I did not hear or read anything different about that issue also.

But I simply presume, that if the BOD thinks in year 1 and 2 there are better ways of spending the money they can further delay- but with a interest factor of roughly 30% every year added to the "last" option.
That how you get to roughly 16 mio after 6 years, by "up" counting (opposite of discounting future cash flows) :really:

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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

Olympus-Cytori JV question 14 May 2013 08:08 #456

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Sorry if this double post....somehow first one didnt post...maybe I took to long.

Thanks for your thoughts Fas...I am sure the "plan" is for the 1 or 2 year option....just interesting there are more options that were discussed or in the release on May 9. Thats why we read the filings...LOL

Between this and the 200K a quarter (1.2 million total) we owe Senko....I hope we see a partnership soon. We have until June 30 with current cash requirements and even a loan re-work doesnt buy much time.

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