Wolf Energy Services Inc (WOEN)

[Oxonius]

I'm not really sure why it took a month and a half to craft under 200 words, but I'm glad that all the money has now been paid.

As previously disclosed, on June 8, 2017, Enviro Technologies, Inc. closed the transactions contemplated by the Technology Purchase Agreement dated March 13, 2017 with Schlumberger Technology Corporation, Schlumberger Canada Limited, and Schlumberger B.V. (collectively, the “Purchasers”) pursuant to which we sold our intellectual property, substantially consisting of our Voraxial patents, marks, software and copyrights, to the Purchasers in consideration of up to $4,000,000, of which $3,000,000 was paid to us at closing and balance of $1,000,000 was payable upon the completion of both: (i) the complete transfer of the purchased intellectually property to the Purchasers; and (ii) our provision of transition information, assets and services to the Purchasers, which was estimated to be approximately 12 months from the closing date. On August 20, 2018 these conditions were satisfied and the Purchasers paid us the remaining $1,000,000 of the purchase price.