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Sputnik

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Sputnik

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Re: marsred post# 7401

Thursday, 04/20/2017 11:41:20 AM

Thursday, April 20, 2017 11:41:20 AM

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What happened? $50 million in licensing fees?

Specifically, the MOU between Integral and Ultimate governs the basis for a definitive agreement such that Integral will license the Technology to Ultimate and, subject to certain conditions, sell its yet to be formed subsidiary that will hold the Technology, to Ultimate, in return for which Integral will receive $4,000,000 and 20% of the outstanding shares of Ultimate. Integral will also be the exclusive supplier of conductive plastic to Ultimate and receive up to $50 million in licensing fees based on Ultimate's revenues. A representative of Integral will also be appointed to the board of directors of Ultimate.

As German philosopher Arthur Schopenhauer once said, "truth is ridiculed, then denied, and then "accepted as having been obvious to everyone from the beginning."

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