High Performance Beverages Comp. (TBEV)

[gassspipe]

Apparently it's a new license that replaces the old license agreement with Dethrone Royalty, Inc:

from Exhibit 10.1 of the 8k filed 10-15-13:

1.5 No Competitive Licensee Products in the Territory . During the Term of this Agreement, Licensor agrees not to grant any license to any third party that will enable and third party to directly compete with the Licensee by selling other Sports Performance Drinks within the Territory. During the Term of this Agreement, Licensee agrees not to sell or market on its own behalf or enter into any other license with a third party to sell or market any other Sports Performance Drink or similar product.
...bold emphasis added by me. That would mean that the licensee (DRHC) could not sell or market a sports performance drink. At least that's how I read it.

The exhibit also announces that the agreement is for the territory of the United States and Canada only. Throwdown is free to develop and market sports drinks to the rest of the world without benefit to DRHC. It also states that Throwdown owns the chemical formula of the sports drink for the duration of the license agreement.