A-1 Group Inc (AWON)

[camelion]

thanks bob. yep i see it on the balance sheet as line item " Inventory 4,000,000"
Then further later paragraph, it mentions this asset & purchase agreement. The wording seems a bit off.
My interpretation of it is probably wrong. So, AWON pays Tony Antillon back every quarter 10% from total revenues earned until it amounts to $4milllion or is it forever. That is my interpretation, but unlikely correct.
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NOTE 5-ASSET PURCHASE AGREEMENT On or about March 28, 2023, the Company entered into an asset purchase agreement with Tony Antillon, a California resident, whereby it acquired all manufacturing equipment, other fixtures, finished goods inventory, and intangible assets of a pH balanced with electrolytes and boosted with oxygen water products manufacturer (the “Assets”). The purchase price for the Assets is $4,000,000 USD which shall be paid as 10% of all total revenues derived from the sales derived from the Assets at the end of each calendar quarter end. The Company recorded inventory of $4,000,000 and other payable of $4,000,000.