Minerco Inc (MINE)

[End Game]

Well that's just it, it wasn't a company that owned the rights...it was Quintin Crye. Below was the deal. We have to support his racing team with some royalty. Maybe that's why the giants and Quintin couldn't come to an agreement? I'm sure if Nestle or another giant wants the product to themselves, they could pay off Quintin & Minerco with a nice settlement. I'm hoping Mine & Level 5 keep the product.

"3.1 Purchase Price. The aggregate purchase price for the Acquired IP shall consist of:


(a) Cash: One Hundred Thousand Dollars ($100,000) in cash, of which Fifty Thousand Dollars ($50,000) will be paid to Seller upon execution of this Agreement, and Fifty Thousand Dollars ($50,000) (the “Holdback Amount”) will be paid to Seller within 24 months of the Closing Date of this Agreement by wire transfer of immediately available funds to a bank account or accounts as shall be designated in writing by the Seller to Buyer, and


(b) Equity: a five percent (5%) equity interest, in perpetuity, in any and all net profits (after deduction of all expenses) of Buyer related to the Acquired IP, to be issued to Seller quarterly within sixty days of the end of each quarter, and


(c) Buyer’s Marketing Spend: ten percent (10%) of any and all marketing dollars paid by Buyer, solely in marketing the Acquired IP, inuring directly to the benefit of Quintin Crye’s Racing Team(s)."