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Replies to post #149640 on TAP Real Estate Technologies Inc (RWAX)
07/25/25 4:54 PM
As part of the Termination Agreement, HUMBL received an option to purchase 51% of Multicortex for $3,000,000 exercisable for a period of one year. In addition, HUMBL’s obligation to pay 15% of Regulation A+ proceeds to Multicortex was terminated. HUMBL believes that the Termination Agreement is a superior option to the Joint Venture Agreement because it still provides HUMBL the ability to purchase a controlling interest in Multicortex, but with the added flexibility of full control of any proceeds from a Regulation A+ offering and more time to evaluate Multicortex’s business prospects. The HUMBL common shares issued to the founders of Multicortex will also be cancelled as part of the Termination Agreement. In addition, the parties agreed in the Termination Agreement that HUMBL would continue to provide introductions and sales support for Multicortex and to work together in good faith to negotiate appropriate sales commissions.
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