"Total revenues for the 2010 second quarter also include $127,000 of development and license revenue resulting from the recognition of deferred revenue relating to payments received pursuant to the research and license agreement entered into with GlaxoSmithKline (GSK) during October 2009."
Further down, there is full year guidance..."Development and license revenue remains unchanged from our prior guidance and is estimated at $500,000. This revenue represents the recognition of deferred revenue relating to prior payments received pursuant to the research and license agreement with GSK."
This GSK $$$ amortized over a period of time are just an method of accounting, anyone reading the income statement, isn't going to get goose bumps over it. It's water under the bridge already, meaning it's already included in their cash balances. It only adds .002 cents to our earnings per share. Plus, we incurred some expenses in development, so basically it's a moot point.
But I'm glad that everyone is looking at these earning statements. Better then rory and I arguing.