ABHI Just the start here... Item 1.01 Entry into a Material Definitive Agreement.
On February 14, 2017, the Company and Voosh, LLC (“Voosh”) entered into a Software License Agreement (the “License Agreement”) in perpetuity. The License Agreement limits Voosh’s use and distribution of the Company’s software to the Enterprise and SMB markets, and requires Voosh to pay to the Company a royalty, quarterly, based on Voosh’s gross revenues from the sale and use of the Company’s software. Under the terms of the License Agreement, the royalty percent Voosh will pay the Company is 10% during the first twelve months, 20% during the following twelve months, and 30% in perpetuity thereafter. Voosh is owned by The Cornell Family Trust and Swoosh, LLC, majority holders of the common stock of the Company.
My posts are NOT a buy/sell recommendation, Do your Own DD, before you buy any stock.
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