From FB: MyEcheck 3 hrs · This 8-K filed

From FB:


MyEcheck
3 hrs ·
This 8-K filed March 11, 2016 discloses a software license and agency agreement in Africa. The bank in Africa is a sub-licensee of MyECheck, under this software license issued to our Agent. The bank is contracted with the Agent, the Agent is contracted with us, with a pass through sub-license for whomever they sell our system.
Our revenue is split automatically at the time of the transaction, our percentage share of transaction fees go into a joint MyECheck/Agent account at the bank in real time.
The bank has contracted with a domestic company for the system (our Agent) and the software they have contracted for is ours.
https://www.sec.gov/…/161…/00011442041608...135_8k.htm
www.sec.gov
8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 7, 2016 MyECheck, Inc. (Exact name of registrant as specified in…
SEC.GOV

MyEcheck
MyEcheck Exhibit D of the software license enable sub-licensing to banks, here's the text of that agreement as filed with the SEC 3/11/2016 2. RIGHT TO USE. Licensee hereby grants to Customer a limited, non-exclusive, non-transferable (except as otherwise expressly set forth herein), license to install (in object code form only and only in accordance with the Documentation), maintain and run the MyECheck Social Banking Platform for the benefit of Customer’s end users. Customer may also make backup copies for disaster and recovery purposes as necessary and reasonable. Customer shall keep a record of each such backup copy and the location of its storage, and shall provide any and all such records to Licensee upon request. Customer must reproduce and include any and all copyright, proprietary and any other notices that appear on the original Software and any media therefore on any copies made by Customer.

3. RESTRICTIONS ON USE. Customer acknowledges that the Software, its structure, organization and Source Code, and the Documentation are the property and constitute valuable trade secrets of MyECheck and its suppliers. Customer agrees not to: (a) decompile or disassemble the Software, separate the Software into its component parts, or in any way attempt to reconstruct or discover any source code or algorithms of the Software by any means whatsoever; (b) remove any product identification, trademark, copyright, confidentiality, proprietary or other notice contained on or within the Software; (c) modify or create any derivative works from the Software or any part thereof, except to the extent that the Software provides for user-modifiable components (d) except as otherwise permitted herein, sell, sublicense, lease, rent, loan, assign, convey or otherwise transfer the Software or any component thereof; (e) otherwise copy or use the Software for any purpose or in any manner not expressly permitted in this Agreement; or (f) knowingly permit or encourage any third party to do any of the foregoing. All rights in and to the Software and Documentation not expressly granted to Customer in this Agreement are reserved by MyECheck, Licensee and their suppliers.