Replies to post #5297 on Cannabis Science Inc (fka CBIS)

[mattysimone]

whammy? that looks like great news to me!

go cbis

[pumpnass]

its time to play catch up with MJNA

[wplong89]

I like this set up with Rockbrook Inc. more IMHO.

"Under the terms of the Agreement RockBrook will pay Cannabis Science an initial license fee of USD $25,000, which is payable within the first year of the Agreement. As well, RockBrook will pay Cannabis Science a quarterly royalty payment of 50% of all positive revenues derived from the Cannabis Science Brand of Pharmaceutical Products. If RockBrook enters into any sublicensing agreements, Cannabis Science is entitled to royalty payments of 50% of all positive revenues received by the Licensee for sales of any Cannabis Science Brand of Pharmaceutical Products. Within 2 years of the execution of this Agreement RockBrook will invest a minimum of $250,000 in research and development directly associated with the Cannabis Science Brand of Pharmaceutical Products. RockBrook will also pay to Cannabis Science a yearly renewable license fee, payable annually on the anniversary of the execution of this Agreement, according to the following schedule; First Anniversary payment USD $25,000, Second Anniversary USD $50,000, Third Anniversary USD $75,000, Fourth Anniversary USD $100,000, Fifth and Successive Anniversaries USD $150,000"

I really like this licensing agreement. It also seems to me like this agreement can be made with multiple dispensaries within Colorado...Everyone knows CBIS has the best stuff!