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2nd licensing agreement for Resonant +3

09:12 17-May-16


Resonant's second licensing agreement, with its other MoU customer, sounds much like the first, which we now know to be very early stage.  The most interesting part of the press release is the comment about expanding design opportunities with this customer, but indications from the conference call imply that neither customer is very big.  This is a very good step, but it doesn't really alleviate my concerns about another capital raise.  I like the apparent pace of development but it won't really be possible to put a price target on RESN until we start seeing more revenue from milestones and royalties in the financial statements.