Coretec Group Inc (CRTG)

[iamthe walrus]

10Q great news !!! company paid NDSU zero of the $139,789 after the dispute was settled !!
Under the terms of the Exclusive License Agreement (the “License Agreement”) signed on June 16, 2016 with North Dakota State University Research Foundation (“NDSU/RF”), the Company was delinquent on payments of $139,789 and unable to meet certain milestones. A dispute arose between the Company and NDSU/RF regarding compensation and deliverables. The License Agreement was renegotiated with NDSU/RF and on June 29, 2018, the Company entered into a settlement agreement and general release (the “Settlement Agreement”) with NDSU/RF to resolve the dispute, pursuant to which the Company and NDSU/RF fully and forever released each other from the License Agreement and mutually released each other of all claims. Accordingly, the Company recognized a gain of $139,789 for the settlement of accounts payable during the three months ended June 30, 2018.