From Today's Press Release;
Las Vegas, NV & Hong Kong and Zurich Switzerland, May 1, 2019 —
12 ReTech Corporation (OTC: RETC) announced today that it has signed technology license agreements with Coppola A.G. whereby they will license 12Sconti and continue efforts to grow and support its recent deployment in Zurich. They have also agreed to license the 12 AdScreen software, purchase and install hardware in order to launch the Visore advertising concept in six or more major European cities.
This new structure has the effect of eliminating almost all the expenses of 12 Europe A.G. and allows the Company to turn the European operation into a royalty based business model and profit center. The Company will continue to generate revenues from the Company’s proprietary technology and applications while eliminating almost all of the ongoing operating costs and the significant investment required for the expansion of 12Sconti and the implementation of Visore. Initial revenues will be derived from our licensing fees for 12Sconti, which is gaining ground with Jelmoli and additional Zurich based retailers.
Angelo Ponzetta the Company’s CEO commented, “We had been investing heavily in the European market and started to see progress. Our initial efforts proved out the viability of our technology and retailing concepts. Now, we are transforming our operations into a more profitable business model in Europe. Our partner, Coppola A.G. will invest in all aspects of Visore and 12Sconti, continuing to build on our initial efforts. Our projected licensing fees are equivalent to the operating income that we had previously projected had we continued to develop and expand our own organization in Europe.”
~~~ A Big Move Is Coming !!! ~~~
AI
