It's great news!! WE GET A PERCENTAGE OF NET CASH FLOW FROM KOTC
The Acquior (KOTC) agreed to pay the Company (PROELITE) an earn-out, subject to certain maximums, as follows
(i) a specified percentage of the Secured Parties' percentage interest in the net cash flow (as defined in the Agreement) of Acquiror; plus
(ii) a specified percentage of the Secured Parties' percentage interest in any proceeds the Secured Parties actually receive from, generally, a sale of Acquiror or KOTC, or from distributions to the Secured Parties from issuances of debt or equity securities by Acquiror; plus
(iii) a specified percentage of the proceeds the Secured Parties actually receive in any sale of their equity interests in Acquiror or KOTC.
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