Replies to post #2565 on American Rare Earths and Materials Corp. (fka AREM

[nala500]

III. ROYALTIES

3.1 Within 30 days after execution hereof, Licensee will pay Licensor $1.00 in cash.

3.2 In addition to the payment described in Section 3.1 above, Licensee agrees to pay Licensor during the term of this Agreement a royalty for each LICENSED PRODUCT sold or used by Licensee or its sublicensees (but not more than one royalty for each LICENSED PRODUCT) of 20% of the NET SELLING PRICE of the LICENSED PRODUCT. Licensee agrees that the minimum amount of royalty payable under this Section 3.2 for each FISCAL YEAR beginning with the FISCAL YEAR starting June 1, 2007, shall be $100,000 USD.

[Slojab]

I can't say that I'm up on fishing gear. But, I can't imagine a pole being made from scandium.
The reel, maybe? But, then I don't see the need for that.
It doesn't require what scandium offers, does it?
I think I'll have to research this a little! lol.