No
Just a press release dated before the PPG announcement and of course leads me to believe we will own co patents on any new products made together
San Francisco CA, December 3, 2015 -- (MARKET WIRE) – Hybrid Coating Technologies Inc. (HCTI: OTCBB) is pleased to provide an update to the press release issued on April 7th, 2015. Hybrid has successfully finalized negotiations with its Fortune 500 Partner and is in the final review stages and expects to execute the agreement within approximately 30 days. As mentioned in the previously issued April 7th press release, Hybrid will work with its Fortune 500 partner to modify and then commercialize one of its products based on its non-isocyanate polyurethane platform technology. Upon successful completion of the product modifications, Hybrid will co-own any new patents based on these modifications with this partner and will give to the partner, subject to agreed upon mandatory minimum order quantities to be placed by the partner, worldwide exclusive rights of the modified product for commercialization within the partner’s respective industry. Once commercialized and after a reasonable ramp up period, management expects, based on estimates provided by the partner that revenues to Hybrid from the sale of this product would reach $20M per annum.
