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Posted On: 01/25/2018 1:30:01 PM
Post# of 913
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Item 1.01 Entry into a Material Definitive Agreement.
On January 25, 2018, Bravatek Solutions, Inc. (the “Company”) entered into a Joint Venture Agreement (the “Agreement”) with AmbiCom Holdings, Inc., a Nevada corporation (“AmbiCom”), effective January 24, 2018, pursuant to which (1) the parties will form a joint venture limited liability company in Delaware to develop, market and sell products, services and technology based on a private branded Active Optimization software application based on the Veloxum software (the “System”); (2) the joint venture will be owned 51% by the Company and 49% by AmbiCom; (3) the Company will fund $30,000 in initial capital to the joint venture; and (4) the joint venture will have an irrevocable royalty-free worldwide license to the System and related intellectual property.
The foregoing description of the Agreement and the terms thereof is qualified in its entirety by the full text of such agreement, which is filed as Exhibit 10.1 to, and incorporated by reference in, this report.
Item 9.01 Financial Statements and Exhibits.
The exhibit listed in the following Exhibit Index is filed as part of this report:
10.1 Joint Venture Agreement dated January 24, 2018
source
https://ih.advfn.com/p.php?pid=nmona&article=76556058
Item 1.01 Entry into a Material Definitive Agreement.
On January 25, 2018, Bravatek Solutions, Inc. (the “Company”) entered into a Joint Venture Agreement (the “Agreement”) with AmbiCom Holdings, Inc., a Nevada corporation (“AmbiCom”), effective January 24, 2018, pursuant to which (1) the parties will form a joint venture limited liability company in Delaware to develop, market and sell products, services and technology based on a private branded Active Optimization software application based on the Veloxum software (the “System”); (2) the joint venture will be owned 51% by the Company and 49% by AmbiCom; (3) the Company will fund $30,000 in initial capital to the joint venture; and (4) the joint venture will have an irrevocable royalty-free worldwide license to the System and related intellectual property.
The foregoing description of the Agreement and the terms thereof is qualified in its entirety by the full text of such agreement, which is filed as Exhibit 10.1 to, and incorporated by reference in, this report.
Item 9.01 Financial Statements and Exhibits.
The exhibit listed in the following Exhibit Index is filed as part of this report:
10.1 Joint Venture Agreement dated January 24, 2018
source
https://ih.advfn.com/p.php?pid=nmona&article=76556058
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