from what i see, the contract to produce / sell our product is a 4 yr contract that was signed in Nov 2020...
there was an amendment signed in Jan 2021 that extended the strategic partnership agreement another year and set the rules for ending the agreement...
imo, the SPA has a 60 month lifespan but the contract for product is a 4 yr term....
i see it as 2 seperate issues...
"Under the terms of the Agreement, the Company granted the joint venture and the SpydaSilk brand an exclusive geographic license to all the Company’s technologies for the Association of Southeast Asian Nations, in exchange for a 4-year firm commitment to purchase up to $32 million of the Company’s raw recombinant spider silk over the 4-year period"
kblb, the kings group and MTM came together and formed a joint partnership...a result of that partnership is the contract to produce and sell...i see the partnership being extended but not the contract....the contract was a FIRM contract for 4 years...
just my take...
my one post allowed for the day...
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