RE:slightly positiveDuring the call Tergesen mentioned that the royalty percentage is in the "high single digit range". (somehow I was under the impression it is around 20 %, but that seems to be wrong). Let's say it is 9 % or lower, that means that Merit sold protein for $500,000 or more, which is about half of its total revenue.
It's small steps, but considering that during this quarter Merit still wasn't able to fullfill all orders due to ongoing commissioning (according to what Tergesen said during the call), it's some progress.
Looking forward to a new CEO, but I'm also happy Tergesen remains a big shareholder and seems to be as bullish as ever about the future. He doesn't seem to be leaving bitter and disillusioned, which I consider a good thing.