The total consideration to the Company from each of the counterparties in exchange for the grant of the MyDx License and the MyDx Services will be $15,000 per year and the costs of the Eco Smart Pens’ hardware. The payments will not begin until the Company releases the Eco Smart Pen
it's nice this proves that over a YEAR later..
there is no PEN...
how do I know..
Just had to look at the Q1 filing for this year...
Service rev - $288 License $$... ZERO
Another part that is a fav of mine...
Company verbally agreed
WOW that Yazie was some kinda good businessman... A VERBAL agreement..
Another little something from that Q1 2018, which was just quoted...
On June 12, 2017, MyDx, Inc. (the “Company” or “Licensor”) entered into a license and services agreement (the “License Agreement”) with Black Swan, LLC (the “Licensee”). The Licensor agrees to grant to the Licensee the Access License which shall consist of:
The Licensor will provide the Product Services which shall consist of:
(1) Licensor providing annual MyDx360 SAAS Premium Subscription at a cost of $15,000 per annum
(2) Licensor providing 6,000 Cartridges every six months to the Licensee at a cost of $2.49 per Cartridge ($14,940 in total every six months). It shall be a requirement of this Agreement that Licensee order 6,000 Cartridges from Licensor every six months;
(3) Licensor providing 1,000 Eco Smart Pens to the Licensee, when available, over the three-year term of this Agreement at a cost of $25 per Eco Smart Pen ($25,000 in total); and
(4) Licensor providing 6,000 batteries to the Licensee over the three-year term of this Agreement at a cost of $3.99 per battery ($23,940 in total).
I see that the agreement was going to last for 3 years, guess it is hard for the "licensee" to buy something that DOES NOT EXIST.
Again, I refer to the Q1 2019 filing for the proof of the matter...
No License $$ and service $281... (wonder who the $281 is.. that's pretty funny all by itself.)