EcoloCap Solutions Inc. (fka ECOS)

[kennypooh]

"I also think that until we get visibility on how much ecos made on the first machine there is no catalyst. My best guess is they made between $50k-$100k on that machine."

DG...100% of ECOS's portion of the mark-up on the first 8 machines stays in ECOS/BIO-Art LLC as their capital contribution to the JV, per the agreement.

On December 19, 2016, we entered into a Limited Liability Company Agreement (the "Agreement") with Lakeshore Recycling Systems LLC located in Morton Grove, Illinois ("Lakeshore"), creating ECOS BIO-ART LLC, a Delaware Limited Liability Company ("LLC"). Under the terms of the Agreement, we own 95% of the LLC and Lakeshore owns 5% of the LLC. Lakeshore made an initial capital contribution of $100.00. We made an initial capital contribution of $100 as well. In addition to our initial contribution of $100.00, we will contribute to the LLC, the net profit resulting from the sales of the first eight biofermentation systems. The biofermentation systems turn organic waste into a byproduct which can be processed into a high quality organic fertilizer.