Defense Technologies International Corp (DTII)

[Poco Parvenu]

Fundraising for the start of production; great news!

Per bilrip via telecon: "There was a claim that the conversions are also part of the fundraising for the start of production."

This should mean that the mess left over from the DTC rescinded acquisition agreements are cleaned up, and now DTII/PSSI is in fundraising mode to start production of the scanners for demos and orders, under the new license agreement that DTII signed with the inventor in Oct 2016.

Per the 10Q: "Subsequently, the Company and DTC mutually agreed to rescind the acquisition of DTC and entered into a Rescission Agreement and Mutual Release (the "Rescission Agreement"), dated October 17, 2016.

In connection with the Rescission Agreement with the Company, DTC rescinded its agreement with the inventor and developer of the technology and assets that were subject to the original agreement between the Company and DTC. On October 19, 2016, the Company entered into a new Definitive Agreement with Controlled Capture Systems, LLC ("CCS"), representing the inventor of the technology and assets previously acquired by DTC, that included a new exclusive Patent License Agreement and Independent Contractor agreement. Under the license agreement with CCS, the Company acquired the world-wide exclusive rights and privileges to the CCS security technology, patents, products and improvements."