What’s driving the market nuts is not knowing exactly how much ITOX stands to gain from the recent contract with ArcelorMittal. We know that OXYS has become the sales network for Aingura.
Item 1.01 Entry into a Material Definitive Agreement.
Effective March 18, 2020, IIOT-OXYS, Inc., a Nevada corporation (the “Company”), entered into the Collaboration Agreement (the “Agreement”) with Aingura IIoT, S.L. (“Aingura”) pursuant to which Aingura appointed and authorized the Company to act as the sales network of Aingura’s services and products
We also know that OXYS will receive a 15% commission on the total sale price of the contract….
The commission the Company will receive for each sale concluded pursuant to the Agreement will be determined by applying 15% of the net sale price of Aingura’s services and products sold, that is, the sale price once the taxes, commercial discounts and technical works developed by the Company on the contract have been deducted.
How much is the contract worth? Is it $100k, $1m, $10m???
IIOT-OXYS, Inc. and Aingura IIoT, S.L. signed a collaborative agreement in March 2020 to leverage their complementary strengths in industry sectors and geographical reach. Rafael Ibeas, CEO of Aingura IIoT, stated “We are excited to secure this initial contract, which represents the first exploratory phase with an important milestone planned for December of this year that, depending on added value level of the results, could bring the opportunity of a multi-phase engagement”.
Multi-phase engagement… steelmaking facilities in 18 countries…
ArcelorMittal is the world’s leading steel and mining company with a presence in 60 countries and primary steelmaking facilities in 18 countries. We are a leading supplier of quality steel products in major North American markets including automotive, construction, pipe and tube, appliance, container and machinery. Our goal is to help build a better world with smarter steels.
When the market confusion clears, the price will rise to the value that has been created.
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