The company has now added a guaranteed minimum of $500k in additional recurring annual revenues and is now expanding into China via distribution and licensing(chinasciencetech):
Should Licensee generate a minimum of $2,000,000 in royalty payments in less than the following 12 months, Licensee shall receive 2,000,000 warrants to purchase Licensor’s common stock at an exercise price of $2.00 per share, exercisable for 5 years from the date of issuance.
Should Licensee generate a minimum of $5,000,000 in royalty payments in less than the following 24 months, Licensee shall receive 5,000,000 warrants to purchase Licensor’s common stock at an exercise price of $5.00 per share, exercisable for 5 years from the date of issuance.
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