Posted On: 11/18/2015 4:57:17 PM
Post# of 75360
Re: Roger Wilco #13244
need to include the second paragraph:
the Company entered into an exclusive manufacture and supply agreement with Rodney Peterson or his designee, Rocky Mountain High Canada (RMHC) for distribution rights to Rocky Mountain High Brands in Canada. Under the agreement, RMHC was required to pay the Company $500,000 before June 30, 2015 and submit an additional $150,000 prior to the production run for the 1,000,000 cans of product covered under the agreement. The Company received the $500,000 prior to September 30, 2015 and anticipates receiving the additional $150,000 by November 30, 2015.
Once the Company has received the final payment of $150,000 and has met its obligations under the agreement to produce and ship the 1,000,000 cans to RMHC, the Deferred Revenue will be recognized as Revenue on the Profit & Loss Statement.
the Company entered into an exclusive manufacture and supply agreement with Rodney Peterson or his designee, Rocky Mountain High Canada (RMHC) for distribution rights to Rocky Mountain High Brands in Canada. Under the agreement, RMHC was required to pay the Company $500,000 before June 30, 2015 and submit an additional $150,000 prior to the production run for the 1,000,000 cans of product covered under the agreement. The Company received the $500,000 prior to September 30, 2015 and anticipates receiving the additional $150,000 by November 30, 2015.
Once the Company has received the final payment of $150,000 and has met its obligations under the agreement to produce and ship the 1,000,000 cans to RMHC, the Deferred Revenue will be recognized as Revenue on the Profit & Loss Statement.
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