Precise Biometrics, which handelsstoppades earlier on Monday, has entered into an expanded license and distribution agreement with an existing sensorkund. The extended agreement provides a guaranteed licensintäkt if a total of at least 17.5 million sek in 2017 and 2018. It is clear from a press release.
the Agreement includes the licensing of the company’s algoritmlösning for fingerprint recognition in mobile devices, Precise Biomatch Mobile.
In detail, it provides extended the license agreement revenues of 17.5 million for a predetermined number of licenses for a period of two years and supersedes the existing agreement during this period as a guaranteed revenue equivalent to 1.5 million for the right to use the Precise Biometrics software. The new agreement will be recognized as income evenly during 2017 and 2018. The agreement will generate additional revenue, provided that the customer’s sales volumes exceed the number of the predestined licenses in the agreement.
Trade in Precise Biometrics will resume at 16.20 today, Monday, announcing the Nasdaq.
the Trade was stopped at 13.50 on Monday, and then, at 15.50, the company announced that it had expanded an agreement with a customer that provides guaranteed income of at least 17.5 million sek for two years.