Replies to post #27241 on Mind Solutions Inc (VOIS)

[PENNIEStoSTACKS]

Filed 04/14/14

On February 12, 2011, Mind Technology, Inc., one of
our predecessors, and Dr. Gordon Chiu, our chief s
cience advisor, granted us a license to use the tec
hnology covered by
his patent application. Through the series of merge
rs described in this Report, Mind Solutions acquire
d the license granted to Mind Technology, Inc. For
the period, that Mind
Technology, Inc. (now Mind Solutions) exists and fu
nds the development and progress of the covered inv
ention, Dr. Chiu agreed to license the use of the t
echnology to Mind Solutions.
If Mind Solutions fails to support the launch, prog
ress and/or funding of the production of the invent
ion, then the license may be terminated. The agreem
ent provided that Dr. Chiu will
receive a non-refundable, non-
dilatable cash royalty payment equal to 20% of the
gross proceeds received by Mind Solutions from the
use of the covered technology. In addition, Brent
Fouch, the former president of Mind Technology, and
one of our advisors, will receive a non-refundable
, non-
dilatable cash royalty payment equal to 5% of the g
ross proceeds received
by Mind Solutions from the use of the covered techn
ology.
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=9919161