Thank you, Mr. Chairman. This is the first year of this. This stems from the restructured agreement with Arslanian Cutting Works factory and also the agreement with the new Polar Bear Diamond cutting factory, formerly Sirius. We have licensed the use of our trademark, the polar bear, to these factories and they pay us a royalty in order to use that. The royalty amounts to one percent of 25 percent of gross sales for the Arslanian factory, and we charge one percent on 75 percent of gross sales for the Polar Bear factory, and we think that that will come in at about $350,000 in the next year. Thank you.
Brendan Bell on Item 16: Consideration In Committee Of The Whole Of Bills And Other Matters
In the Legislative Assembly on February 22nd, 2006. See this statement in context.
Item 16: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 16: Consideration In Committee Of The Whole Of Bills And Other Matters
February 21st, 2006
Page 1241
See context to find out what was said next.