Monday, October 23, 2017 4:40:18 PM
Optium Cyber Systems Enters Into $2.5 Million Dollar Licensing Agreement
Marketwire Canada - Mon Oct 23, 6:30AM CDT
THE WOODLANDS, TX--(Marketwired - Oct 23, 2017) - Optium Cyber Systems, Inc. (OTC:OCSY) (the Company), is pleased to announce that it has entered into an agreement to license its proprietary cyber security analyzing and monitoring platform to Global Security Agency Inc. (Global Security) for use in the shipping industry.
Pursuant to a license agreement, the Company grants to Global Security a worldwide license to use the Company's propriety cyber security analyzing and monitoring platform in the shipping industry. The license will have an initial term of twenty-five years (25) and will be renewable for up to seventy-five (75) additional one-year periods. As consideration for the license, Global Security will pay to the Company a fee of $2,500,000, due ninety days after the date of the license agreement and payable by the issuance of 10 million common shares of Global Security at a price of $0.25 cents per share.
"The key to success for any start-up IT company is the ability to monetize its technology," stated Todd Rutherford, CEO of Optium Cyber Systems, Inc. "By licensing our propriety platform for release in different sectors we expedited the monetization process and diversify in a timely and cost-effective manner thereby maximizing profit potential. It is a very effective revenue strategy," continued Mr. Rutherford.
Revenue generated from this transaction will be represented in the Company's financial statements as related party transactions as George Rutherford is a director and officer of both the Company and Global Security.
Michael Todd Rutherford CEO
George M. Rutherford President
http://www.globalsecurityagency.org/stock_Structure.cfm
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