subject: HDVY otcbb, HDVY Board Hdvy stocks [print this page] Quest has made a $500,000 up front "Development License Fee" and will make monthly "License Maintenance Fees" equal to $8,750 for the first year and $17,500 for each year thereafter (with such fees being credited against the "Royalty Payments" described below), upon the publication of a study performed for the Validation Work an "Initial Product License Fee" of $125,000 for each of the first two Products, and "Royalty Payments" equal to 2.45% of the Net Sales of each Licensed Product (i.e., each breast cancer test) sold by Quest. Quest will reimburse SPM and us for costs incurred related to any Validation Work done with respect to a Product.
"At March 31, 2010, the Company had $3,877,565 in available cash and total current liabilities of $1,086,470. Our liquidity significantly improved during the first quarter due to proceeds received from the exercise of common stock purchase warrants and receipt of a final payment under the license agreement with Vermillion, Inc. (formerly known as Ciphergen Biosystems, Inc.). As a result, we believe we have sufficient resources to meet all of our current obligations
