Replies to post #8668 on Intl BioChemical Industries Inc fka IBCL

[invest in kids]

No, it's IBCL as stated in the BASIS OF PRESENTATION section:

"These financial statements should be read in conjunction with
the consolidated financial statements for the year ended June 30, 2002 and notes
thereto contained in the Report on Form 10-KSB of International BioChemical
Industries, Inc., formerly BioShield Technologies, Inc. (the "Company") as filed
with the SEC."

Also clear from the context:

"The joint venture calls for the joint assignment of all, patent ownership, EPA
registration rights and ownership from the Company to Nova (see subsequent
events concerning patents). For consideration of the assignment of these assets,
the Company received 500,000 shares of Nova's common stock (5,700,000 shares
outstanding), and an amount equal to $500,000 in cash, if Nova secures
additional capital of $2,000,000 or 25% of all monies raised until the $500,000
is met and 20% of all the difference raised between $3,000,000 and $5,000,000.
This amount is secured by a $500,000 promissory note bearing interest at 6% per
annum due June 30, 2003. Additionally, the Company will receive 5% of all gross
sales of products sold by Nova using technology Jointly owned by the two
companies (see subsequent events) . The Company also received an exclusive
license agreement under which the Company has exclusive authority throughout the
world to manufacture and sell the former assigned products of the Company. The
license may be terminated at anytime giving sixty (60) days notice to the Company."

I'm not sure if "giving" means NOVA giving or that IBCL is
given (granted) the right to terminate the agreement.

Hopefully, GG can shed some light on the whole entire stinkin' Q.

G'night all. My brain hurts.