Replies to post #2476 on Fortitude Group, Inc. (FRTD)

[IHDR]

It wasn't their sale to announce .......

"Pursuant to the Letter of Intent (LOI), Internal Hydro has agreed to enter into a definitive agreement, pursuant to which it shall pay WESCO a one-time license fee of $500,000 for exclusive rights to deploy WESCO's Catalytic Activated Vacuum Distillation (CAVD) technology in the European Union. A $100,000 down payment on the initial licensing fee has been paid to WESCO by Internal Hydro. The agreement will also provide for WESCO to be paid a continuing royalty of $100,000 for each European country in which Internal Hydro intends to establish an operational CAVD plant. In addition, Internal Hydro will pay WESCO a one-time license fee of $250,000 per state for rights to deploy the technology in Alabama and West Virginia, as well as a royalty stream equal to 5% of gross revenue per plant (projected at $5.2 million per year in gross revenue), excluding carbon credits and tire tipping fees."