The results of identifying effective biomarkers can potentially have a huge impact on clinical development, potentially reducing the size of future trials, including making possible biomarker-driven clinical designs which could provide even more rapid readouts. Taken together, these developments are setting the stage for new data throughout the rest of 2016 and into 2017. Joe, Jeff and Rob will provide more insight as part of their prepared remarks. On the manufacturing front, it remains an extraordinarily busy time. We have remained on track for initiating and completing manufacturing campaigns, keeping us on track to meet our current fiscal year revenue projections. Our strategy for growing manufacturing revenues remains on track as well, continuing to generate revenues in our Franklin facility, which last year generated over $40 million of revenue, generate revenues from our new Micron facility which is already booked well into next year and has another $40 million revenue potential, and to bring online a new clinical production facility by mid next year which will allow us to continue introducing new clients into our business and to continue bringing in second products from existing clients. The new facility will add another $30 million in revenue potential, and we have already identified a number of projects that can move into the facility as soon as it is completed. Paul will discuss the Avid business in more click this over here now details as we continue to deliver high-quality products for our partners. Our ultimate goal remains to reach overall profitability within the next 21 months, and Avid will be an business loans small business important driver for achieving that goal, in combination with making strategic investments in our R&D while pursuing partnerships to help advance our programs. You can already see these plans playing out as we are on track to grow revenues significantly this year while simultaneously seeing a significant decrease in R&D spending during the quarter even though we are continuing to advance our programs.
The mortgage deal needs to be executed on a non-judicial stamp paper. All of this doesnt happen for free. Many Clients already have appraisals, audited financial statements, and third party opinions about their projects. Between speeches by different gurus I would mingle with other investors and explain that I owned a hard money brokerage firm. Mortgage is a form of hypothecation of the property. These aspects of getting a home loan approved are part of the due diligence the bank requires, but the bank doesnt pay for this due diligence. This type of secured loans have a low interest rates which not only allows you to pay off your loan quickly but also without spending additional cash. However, the ability of our major banks to actively lend in the market, together with the various government and Reserve Bank of Australia actions to support stimulus, is likely to put a resilient floor under the housing market for the year ahead.”
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