PharmaCyte Biotech Inc (PMCB)

[frosr6]

EXCLUSIVE LICENSING AGREEMENT (the “Agreement”) is entered into as of June 25th, 2013 (“Effective Date”).

1.Term and Termination. This Agreement shall commence on the Effective Date. June 25th, 2013.

If LICENSEE (PharmaCyte Biotech) does not enter into a research program with the technology in the scope of the License involving European academic university partners, providing a total funding equal to or greater than Four Hundred Thousand Dollars US (US $400,000.00)within In three (3) years of the Effective Date. Which would be June 25th, 2016 then say bye bye to CIAB.

It's also funny how pmcb recently postponed their last payment to austrianova for ciab to the end of June 2016 (see latest financials). Looks to me pmcb figures they won't have to pay it if the above doesn't happen. Why pay for something if your going to loose it regardless? More money for pmcb and less for share holders.

http://www.sec.gov/Archives/edgar/data/1157075/000115707513000007/diabetescellintheboxlicens.htm