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Replies to post #125914 on NanoTech Entertainment Inc (NTEK)
Jeff Foley - so they paid him how much for his Ice Sculpting business? and do they pay him to run it as well too?
4) In July 2013 NanoTech completed an agreement for the acquisition of Clear Memories, Inc.
http://www.otcmarkets.com/financialReportViewer?symbol=NTEK&id=85183
We are currently finalizing the terms of an understanding for a share exchange with Clear Memories, Inc. (“Clear Memories”) under which we will obtain the worldwide exclusive rights to license and franchise ice products (sculptures) created by it. Clear Memories is owned by Jeff Foley, our new chairman and CEO. We expect to receive 34,499 shares of Clear Memories common shares outstanding (33% of outstanding) in exchange for 6,000,000 of our shares (1% of outstanding). We expect to generate ongoing revenue streams from sales and subscriptions of franchises and ongoing license fees from new sculptures, of which 50% of all revenues will be ours.
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according to the guy that visited the office in Boston:
Quote:
We sat at Phil's desk for about an hour and a half. He showed us about 50 projects he was currently working on with clear memories. He informed us that by the end of the year (this is the busy season with the holidays) they would bring in excess of $150k profit. He also showed us some neat projects he was currently working on for the Sacramento Kings basketball team.
