Plastic2Oil Inc (PTOI)

[Steady_T]

Looks like the first time WCRM tried to partner with Agilyx it didn't stick, so they are trying again.

Form 8-K for WOLFE CREEK MINING INC

8-Jun-2010

Entry into a Material Definitive Agreement, Financial Statements and Exhib


Item 1.01 Entry into a Material Definitive Agreement.

Wolfe Creek Mining, Inc.'s wholly owned subsidiary, Green EnviroTech Corp. ("Green EnviroTech"), entered into (i) a First Amendment to Plas2Fuel License Agreement, dated May 18, 2010, with Plas2Fuel, Inc. ("Plast2Fuel"), a Washington corporation (the "Plas2Fuel Amendment"), (ii) a License Agreement, dated April 30, 2010, with Ergonomy LLC ("Ergonomy"), a limited liability company organized under the laws of the State of Wisconsin (the "Ergonomy Agreement"), and (iii) a License Agreement, dated May 18, 2010, with Thar Process, Inc. ("Thar"), a corporation organized under the laws of the Commonwealth of Pennsylvania (the "Thar Agreement").

Pursuant to the Plas2Fuel Amendment, Plas2Fuel agreed to grant to Green EnviroTech the exclusive right to the auto shredder residential market within North America, subject to the terms set forth in the Plas2Fuel Amendment, for a period commencing on May 18, 2010 and expiring on January 1, 2021.

Pursuant to the Ergonomy Agreement, Ergonomy granted Green EnviroTech an exclusive royalty-bearing license to use certain technology in the field of processing plastic and rubber from shredder residue in the United States of America and Canada for each of the following: (a) to develop, use, lease, sell, import, export and market Products (as defined therein), and (b) to develop Improvements (as defined therein). For the license granted thereunder, commencing at the third year of the term, Green EnviroTech must pay to Ergonomy running royalty fees in an amount equal to $0.005 per pound of shredder residue as set forth in the Ergonomy Agreement.

Pursuant to the Thar Agreement, Thar granted Green EnviroTech a royalty-bearing license to use certain technology in the field of processing plastic and rubber from shredder residue in the United States of America and Canada for each of the following: (a) to develop, use, lease, sell, import, export and market Products (as defined therein), and (b) to develop Improvements (as defined therein). For the license granted thereunder, commencing at the third year of the term, Green EnviroTech must pay to Thar running royalty fees in an amount equal to $0.00875 per pound of shredder residue as set forth in the Thar Agreement.



Item 9.01. Financial Statements and Exhibits.

10.1 First Amendment to Plas2Fuel License Agreement, dated May
18, 2010, by and between Green EnviroTech and Plas2Fuel,
Inc.


10.2 License Agreement, dated April 30, 2010, by and between Green EnviroTech and Ergonomy LLC

10.3 License Agreement, dated May 18, 2010, by and between Green EnviroTech and Thar Process, Inc.