Monday, February 05, 2024 1:57:30 PM
Each of Messrs. Faulkner and Wajcenberg will be paid at the rate of $300,000 per year commencing upon the closing of a debt or equity funding by the Company of a minimum of $75 million.(the “Funding”). The Company has the right to terminate the Employment Agreements as of June 30, 2024 should the Company (i) not achieve revenues of a minimum of $2,000,000 per month for four consecutive months, with the first month occurring by June 30, 2024, and (ii) the Company fails to repay US $75,000,000 (or such other amount as may be mutually agreed by the employee and the Company) by June 30, 2024 towards a line of credit to be obtained by the Company (the “LOC Repayment”).
In order for the milestone to achieve revenues of a minimum of $2,000,000 per month for four consecutive months, with the first month occurring by June 30, 2024 funding should be in place sooner than later.
Also per 8K the funding is $75 million is minimum so it could be more.
I suspect that the funding and the operational plans were in the works when this agreement was signed and expect an 8K about funding any day now.
The organization behind TCRI have been very successful in many of their previous endeavors and have had plans for this ticker since July 27, 2021. They are very deliberate in how they conduct their business dealings and don't operate on the fly. The have had a vision for this ticker for over 2 years and now have set their plans into motion.
WORLD DIGITAL MINING SUMMIT 2021
Munaf Ali is at 2:52:00 telling the Phoenix Story.
TCRI Acquisition is at 3:01:00
Acquired a US listing entity for the purpose of listing some of the Phoenix Group income generating assets on the US stock market. Expect to share more information in early 2022. (TCRI was 2 years late sharing information due to the drop in bitcoin before recovering and now information sharing has begun.)
AIMHO
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