Wednesday, June 20, 2018 1:34:27 PM
While the Company has historically experienced recurring net losses, on June 8, 2017, the Company completed a Technology Purchase Agreement with Schlumberger for the sale of the Company’s intellectual property in consideration of up to $4,000,000, of which $3,000,000 was paid at closing and $1,000,000 is payable upon the completion of both: (i) the complete transfer of the intellectually property to Schlumberger; and (ii) the provision to transfer information, assets and services to Schlumberger, which is estimated to be completed by the third quarter of 2018.
I'm sounding like Bill Clinton but am not sure what "by" means ... by the start of Q3 (July 1), by the end of Q3 (September 30) or simply at some vague, unspecified point during the third quarter?
And, when is someone going to update the website?
Stock is under a nickel today - maybe more stock gifting is planned and they want a low basis price.
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