Brief: Aqua Bio Technology Still Sees No Basis For Write-Down Of Inventories And Patents

Aqua Bio Technology ASA

27/06/2019 13:18

June 27 (Reuters) - Aqua Bio Technology ASA  ATBT.OL :
    * CO'S ASSESSMENT IS STILL THAT THERE IS NO BASIS FOR
WRITE-DOWN
OF AFOREMENTIONED INVENTORIES AND PATENTS
    * IS OF OPINION RESTORSEA'S TURNOVER, AND CONSEQUENTLY ABT'S
ROYALTIES AND REVENUES FROM SALE OF PRODUCTS TO RESTORSEA, WILL
INCREASE AS DESCRIBED IN PREVIOUS ANNOUNCEMENT
    * ASSUMES THAT IF EXCLUSIVITY IS RENEWED, IT IS LIKELY THAT
RESTORSEA WILL AGAIN RENEW EXCLUSIVITY IN 2027 WITH PAYMENT OF
$2.5 MILLION
    * WORKS WITH OTHER PROCESSES EXPECTED TO CONTRIBUTE TO
INCREASED
CASH FLOWS
    * CONCLUDED THAT ACCOUNTING PRINCIPLE IN ABT'S COMPANY
ACCOUNTS
SHOULD BE CHANGED
    * BELIEVES RESTORSEA WILL RENEW ITS EXCLUSIVITY AGREEMENT IN
2022
THROUGH TOTAL RENEWAL PAYMENT OF USD 2.5 MILLION TO COMPANY

Source text for Eikon:  ID:nGNE4DvnLd 
Further company coverage:  ATBT.OL 

 (Gdynia Newsroom)
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))