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Re: BeerIsGood post# 52112

Friday, 12/13/2013 11:35:47 AM

Friday, December 13, 2013 11:35:47 AM

Post# of 94246
I also found this so not sure they are at fault in the whole failure of the deal...

SECTION 5: CONSIDERATION; PERFORMANCE STANDARDS.
5.1 As partial consideration for the Licensor granting the within License to Licensee for the Licensed Territory, the Licensee shall be responsible for engaging the necessary legal and accounting professionals to take the necessary actions to ensure that the Licensor is in full compliance with United States Securities and Exchange Commission (the “Commission”) reporting responsibilities and Licensee shall be responsible for bearing all costs associated therewith. Licensee agrees to diligently pursue said compliance immediately upon the execution hereof by all Parties. This responsibility includes Licensor becoming current and continuing to keep current its Section 12(g) reporting company status, including making all associated filings


Form 8-K for TIREX CORP
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25-Nov-2013

Termination of a Material Definitive Agreement

Item 1.02 Termination of a Material Definitive Agreement
On April 19, 2013, we entered into an agreement with Green Recycling Technologies International ("GRSI") (the "Agreement") requiring GRSI to pay all legal and accounting professionals necessary to complete an audit to bring us to a current reporting status with our SEC reporting obligations, including the preparation of unaudited and audited financial statements to be contained in our periodic reports that are delinquent.

Tirex management has determined that GRSI has breached the terms of the Agreement by refusing to pay the auditor costs pertaining to the review of our unaudited financial statements and audit of our audited financial statements, thereby causing an indefinite delay in becoming current in our SEC reporting obligations.

On November 7, 2013, our legal counsel informed GRSI by written correspondence that because it had breached the terms of the Agreement, the Agreement was null and void. Tirex management allowed subsequent time for GRSI to respond. To date, we have not received a response from GRSI.

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