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Monday, March 29, 2021 12:55:58 PM
“ NOTE 6 SUBSEQUENT EVENT
On March 2, 2021, the officer advanced $1,025 under the terms of the line of credit.
On March 4, 2021, the Company signed a 10-year exclusive licensing agreement with TIP Solutions (Licensee) to implement the MAXD HD Audio Source Code into their mobile phone app and platforms. The Licensee was granted an exclusive license of MAX-D HD audio technology for an annual payment of $100,000 or $25,000 paid quarterly for up to 10 years.
The agreement also calls for a license fee split in the event the following occurs:
• If Licensor is TIP – 20% of total license revenue received by TIP will be paid to Max Sound within 30 days of such receipts.
• If the Licensor is Max Sound and combined with TIP Solutions Smart Call Assistant, 20% of total license revenue received by Max Sound will be paid to TIP within 30 days.
On March 10, 2021, the Company received a $100,000 payment from the Licensee.
On March 8, 2021, the Company entered into a conversion agreement executed by a note holder for 275,000,000 shares based on a conversion price of $0.0008 per share.”
MAX’dSCAM
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