Black Stallion Oil and Gas Inc (fka BLKG)

[Anty_Jr]

More form 8k inside LICENSING AGREEMENT

The licensing fees payable by BLKG to ACTIVE LAB shall be as follows:

BLKG shall compensate ACTIVE LAB $1,000,000, in cash, common stock of the Company, or a combination as determined by BLKG management, as follows:


· $150,000 by November 15, 2017

· $150,000 by January 31, 2018

· $150,000 by March 31, 2018

· $150,000 by May 31, 2018

· $150,000 by July 31, 2018

· $150,000 by September 30, 2018

· $100,000 by November 30, 2018

ACTIVE LAB shall make sales and the accounting shall be as follows:


· ACTIVE LAB shall make a sale to a third-party and record the sale and cost of sales accordingly.

· BLKG shall bill ACTIVE LAB a royalty rate of 95% of the recorded revenue of the sale.

· BLKG shall record 100% of the cost of sales for the sale, as recorded by ACTIVE LAB.

· ACTIVE LAB shall bill BLKG for expenses, including personnel, not to exceed 42.75% of the revenue, as recorded by BLKG.

ACTIVE LAB shall receive all cash payments and make the net payment to BLKG on a monthly basis, within ten (10) business days after the month.

ACTIVE LAB shall maintain its accounting records in accordance with United States generally accepted accounting principles (“GAAP”).

https://www.sec.gov/Archives/edgar/data/1542335/000147793217004662/blkg_ex108.htm