$BICB On August 22, 2014,BioCube, Inc. (the "Compa
Post# of 7739
Posted On: 09/29/2015 11:39:25 AM
$BICB On August 22, 2014,BioCube, Inc. (the "Company"
entered into an Agreement with IUT Medical GmbH, a Berlin Germany corporation ("IUT-M" , to form a USA-based Joint Venture ("JV" entity for the purposes of commercialization the Marijuana Breath Analyzing Device ("Device" being developed by IUT-M on the basis of already existing systems offered by IUT-M (the "Agreement" .
The specific terms of the Agreement are as follows:
JV will receive ownership and exclusive world-wide license to the Device from IUT-M
BioCube ownership in JV 51%
IUT-M ownership in JV 49%
IUT-M is entitled to 2.5% royalty payments on products sold by JV
IUT-M will receive 1,000,000 shares of BioCube, currently trading on OTC Stock Exchange
JV to be transition into a stand alone public entity via spin-off in 9-18 months after the initial product sales.
entered into an Agreement with IUT Medical GmbH, a Berlin Germany corporation ("IUT-M" , to form a USA-based Joint Venture ("JV" entity for the purposes of commercialization the Marijuana Breath Analyzing Device ("Device" being developed by IUT-M on the basis of already existing systems offered by IUT-M (the "Agreement" . The specific terms of the Agreement are as follows:
JV will receive ownership and exclusive world-wide license to the Device from IUT-M
BioCube ownership in JV 51%
IUT-M ownership in JV 49%
IUT-M is entitled to 2.5% royalty payments on products sold by JV
IUT-M will receive 1,000,000 shares of BioCube, currently trading on OTC Stock Exchange
JV to be transition into a stand alone public entity via spin-off in 9-18 months after the initial product sales.
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