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Re: sissyjane1 post# 206911

Monday, 08/20/2018 1:10:09 PM

Monday, August 20, 2018 1:10:09 PM

Post# of 235076
Sorry, horrible post on my part. I was counting the months until 2020.

They *could* get $9 million from CSI (Cyber Saftey Inc.) any time up until September 2020.

On August 24, 2015, the Company entered into an agreement with Cyber Safety, Inc., a New York corporation (“Cyber Safety”) for Cyber Safety to license, and retain an option to purchase, the patents and Intellectual Property related to the GuardedID® and MobileTrust® software. Cyber Safety has the option to buy the Company’s GuardedID® patent for $9,000,000 that expires on September 30, 2020. The Company anticipates Cyber Safety will make the purchase by September 30, 2020.



And I typo'd the $15 million. It's more like $14 million with the addition of the BlockSafe Payments:

In June 2018, the Company and BlockSafe amended their management agreement. Pursuant to the terms of the amended agreement, BlockSafe shall remit a management fee of $36,000 per month to the Company, retroactive to January 1, 2018 and for a three-year term. Once BlockSafe reaches a milestone of $1,000,000 in financing, an additional management fee of $5,000,000 shall be owed to the Company by BlockSafe in the form of a monthly payment of $138,889 for a period of three years. Additionally, the Company retains the right to use and market BlockSafe’s patent pending Blockchain Defender™ product, perpetually, for a royalty fee of 15%.



So there is some juice to the squeeze --