Green Cures and Botanical Distribution Inc (GRCU)

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new S-1/A our for Privileged World Travel Club, Inc.

http://yahoo.brand.edgar-online.com/Default.aspx?companyid=883421

some interesting excerpts:

The Company agreed to pay to Triton a license fee (the “Fee”) of One Hundred Fifty Thousand Dollars ($150,000), not later than fifteen (15) days following the execution of the Triton Agreement, as a one-time license fee (the “License Fee”) for the Software. Triton has agreed to defer that payment until January 31, 2013. The Company also agreed to pay to Triton an annual royalty payment (the “Royalty Fee”) of Two Million Dollars ($2,000,000), payable annually on the anniversaries of the Effective Date of the Triton Agreement, although Privileged may prepay all or any portion of the annual Royalty Fee in its discretion.

On October 8, 2012, the Company entered into a Travel Services Agreement (the “Travel Agreement”) with China International Group Travel (“CIGT”), a division of China International Travel Service Limited, a Republic of China Government Enterprise (“CITS”), relating to the provision of travel services by the Company.


Our operational milestones in connection with the Travel Services Agreement include the development of our domestic travel website and the two Chinese travel websites, which we anticipate will become operational during the first quarter of 2013, which will permit us to begin booking travel both domestically and internationally. We anticipate that we will begin generating revenues during the first or second quarters of 2013. Management anticipates that the costs of the development of these websites will be approximately $50,000 - $60,000, although there can be no guarantee that we will be able to develop the websites for these fees. As of the date of this Prospectus, the Company was in negotiations with a service provider to update the Company’s domestic travel website and to design two websites for use in connection with the Company’s Chinese contacts in connection with the Travel Services Agreement, but no definitive agreement had been reached.


As noted above, as of the date of this Prospectus, the Company was in negotiations with a service provider to update the Company’s domestic website and to design two websites for use in connection with the Company’s Chinese contacts in connection with the Travel Services Agreement. Management believes that the agreement will be finalized and work will commence on the updating and development of the Company’s websites during the fourth quarter of 2012, although there can be no guarantee as to when the agreement will be finalized or the work will commence.




Additionally, as of the date of this Prospectus, the Company had entered into a new credit card processing agreement with a credit card merchant bank (a registered ISO/MSP of Wells Fargo Bank, N.A.) to permit the Company’s websites to process credit card transactions, which will permit potential members to purchase Memberships and purchase travel packages, with payments through the merchant bank to the Company’s accounts. This agreement is discussed in more detail below under the heading “Additional Recent Developments.”