Replies to post #11742 on Calmare Therapeutics Inc (fka CTTC)

[Vaffan-Coulo]

I also noticed something else...

The re-negotiated contract -- the one Conrad (aka "Dopey") rebuked -- extended the term of the previous contract until 2021.

HOWEVER, that original contract (see my previous post) -- the one presumably CTTC is operating under -- expires May 31, 2016.

That's only a little over a year away and given CTTC has been fighting with MISTER Marineo and GEOMC already for about a YEAR now, it doesn't appear likely that CTTC will be in the calmare business beyond May, 2016.

What then?

[Vaffan-Coulo]

And isn't THIS interesting?

Reading the contract that CTTC is now operating under -- see previous two posts -- I noticed this:

"That CTTC is willing and ready to modify the Agreement with GEOMC, and on this basis both CTTC and DELTA/MARINEO agree to waive, until the expiration of this Agreement or the modified agreement between CTTC and GEOMC, whichever occurs first, the application of subparagraph 7.2.1 and 7.2.2 and instead to apply a revenue sharing arrangement among the Parties that will result in DELTA/MARINEO, CTTC and GEOMC each receiving [Confidential Information Omitted]* out of the gross sales price that is customarily charged by CTTC to Distributor(s)."

And:

"So long as this revenue sharing arrangement applies among CTTC, MARINEO/DELTA and GEOMC, the division of gross sales price that is customarily charged by CTTC to Distributors shall occur [Confidential Information Omitted]* without any initial deduction of expenses, except cost recoveries pursuant to subparagraph 7.3 and unreimbursed out-of-pocket expenses associated with the sale such as shipping costs or customs duties that are borne directly by CTTC, and not paid or reimbursed by Transferee or Distributor."

So BOTH MISTER Marineo AND are SUPPOSED to be collecting a cut of the GROSS sales price of each unit sold AND, as it stipulates further on, all payments are to be made within 30 days of the end of each quarter!

Well, since Conrad (aka "Bullteat") liked THIS version of the contract so much, I wonder if he's sticking to his end of the deal.

You also have to wonder if those numbers are included in "cost of goods" sold as reported in SEC filings. I mean, if CTTC ISN'T paying GEOMC and Marineo, can they legitimately claim "COGS"?