Replies to post #206929 on Zerify Inc (ZRFY)

[I_Am_Ram]

“In June 2018, the Company and BlockSafe amended their management agreement. Pursuant to the terms of the amended agreement, BlockSafe shall remit a management fee of $36,000 per month to the Company, retroactive to January 1, 2018 and for a three-year term. Once BlockSafe reaches a milestone of $1,000,000 in financing, an additional management fee of $5,000,000 shall be owed to the Company by BlockSafe in the form of a monthly payment of $138,889 for a period of three years. Additionally, the Company retains the right to use and market BlockSafe’s patent pending Blockchain Defender™ product, perpetually, for a royalty fee of 15%.”

Read again, they are already sending $36,000 a month. Once they secure $1,000,000 in financing the payments will increase another $138,889 a month. It’s a great idea until a financier realizes he’s not investing in Blocksafe anymore.... it kills any chance of Blocksafe being successful. All their cash will go directly to SFOR, when and IF they have it. That’s the major key here. The deal is designed so Blocksafe will never have any cash. It’ll always be going directly to SFOR. Maybe why all the other Blocksafe execs ran for the hills? Didn’t want to spend their time working for a cash scam. This deal only benefits 3 people and it only does so for 3 years.

[Mattyiceee]

Told you..... dumpster fire lol

[multivalue]

Actually it is kind of comical.

In June 2018, the former CEO of BlockSafe resigned, and the Board of Directors appointed two members of the Company’s management team to serve as BlockSafe’s CEO and Chief Technical Officer, respectively. Additionally, the Company’s CEO was appointed as Chairman and President of BlockSafe.

BlockSafe is owned 49% by the Company and 31% by three executive officers of the Company, which combined represents an 80% controlling interest in BlockSafe.

I doubt "using" SFOR's offices as in each has 2 separate offices. Hahaha.

Troubling part is the large amount. How much can rent be in NJ for the current office? $5k a month? $10k - that would seem high but then that leaves $26k for utilities and salaries. Let's say $7k each ($21k / 3), that a fair salary? $100K a year each.

10k - rent
5k - utilties and operating?
21k - salaries