You're right, 50/50 on profit. It doesn't say gross or net profits. This is from the 8-K just filed:
"Subject to further Definitive
Agreements and pursuant to the terms of the LOI, Tactical Air Defense Services, Inc. shall be responsible for the
acquisition of necessary funding related to the Acquisition and shall receive the right to receive fifty percent (50%)
of all future profits derived from the operation, sale, lease or any other use of the Aircraft."