On iii there has been a lot of doom laden posts about competition for BTB in the US. Mindtech was mentioned. I have briefly looked through the company results and noticed the following, which should help clarify the relationship between ULT and Mindtech
"During the previous year a licence was granted to Mindtech Limited to exploit the English speaking consumer market. The licence was granted in return for a non-refundable fee of £600,000 and a royalty stream. Additionally, Ultrasis assisted Mindtech to develop products and services in the defined market and this assistance was provided with no additional cash burden to the Company. The Company received £63,000 for both these services and advance royalties during the year and £123,000 during the previous year".
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