OK, so some more digging. They were getting a pretty nice royalty from those initial 2008 patents (MicroStreak), but in August 2015 they sold the rights (non-exclusive) to bioMerieux for like $7m (LBT still able to commercialise as well). Here is the hotcopper liink: https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvQkAP4Qi7pmyEtJlJ2%2Fk%3D
So in FY16 They received the $7m license payment, but then also spent $3.8m on patents :O These payments for the four quarters are as follows:
Q1: $0.97m https://hotcopper.com.au/threads/ann-appendix-4c-quarterly.2619489/
Q2: $1.25m https://hotcopper.com.au/threads/ann-appendix-4c-quarterly.2689057/
Q3: $0.84m https://hotcopper.com.au/threads/ann-appendix-4c-quarterly-lbt-ax.2755822/
Q4: $0.82m https://hotcopper.com.au/threads/ann-appendix-4c-quarterly-lbt-ax.2824157/
You couldn't go from spending $0 on IP (https://hotcopper.com.au/threads/ann-appendix-4c-quarterly.2563109/) to ~$1m per quarter, it just isn't possible. Is it that they are shifting their R&D work (i.e. their employee costs) over into the IP section? I assume if they are doing that then they aren't developing it in house, and they are paying external contractors to develop it for them?
(I have no idea how to read these 4C things so any guidance would be appreciated)
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OK, so some more digging. They were getting a pretty nice...
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