Wednesday, November 14, 2018 10:52:20 AM
(b) On September 1, 2018, the Company entered into a consulting agreement with the Chief Technology Officer of the Company (“CTO”), whereby the Company agreed to pay a consulting fee of $2,500 per month for a period of two years, which can be extended to four years upon mutual agreement. Upon completion of a minimum $1,000,000 financing, the Company will increase this payment to $5,000 per month. Upon completion of a minimum $5,000,000 financing or profitable operations, the Company will increase this payment to an amount mutually agreed upon that reflects the market rate for services provided by the CTO.
We have already been informed about this of course....but I wonder how the pursuit of financing is going. I would think any financing at this point would have to be personally guaranteed by our CEO. Does Alita have assets to guarantee it?
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