$BICB On August 22, 2014,BioCube, Inc. (the "Compa
Post# of 35434
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.