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in France
o 10 year license
o 1.5% royalty
o Exclusive in France and non-exclusive in Belgium
• JV with Scylla, S.A
o Name change to SOSA
o 60/40 equity split with Odysseus funding the startup costs at $1.29M
o Market opportunity in France of $2.436M for L type coupling alone
• German Acquisition
o Halted due to existing long-term license with Siren for the geography
o Market opportunity in Germany of $29M for L type coupling alone
o Access to largest marketing Europe
Analysis
• Local production challenge – competitiveness in local market and internationally
o Need to diversify into low cost centers
o US production – avg cost of a manufacturing worker per hour = $23...
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