One last observation of substance in the 8K filing
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Posted On: 01/08/2017 12:12:21 AM
One last observation of substance in the 8K filing...
ARTICLE VII – REPRESENTATIONS
7.1 Licensor represents and warrants as follows:
(c) Licensee has the financial capability to pay the consideration that is required by Article V, noting Coates company management has agreed to forgive the exclusive license fee of $75,000,000 USD replaced by a royalty fee of $50 USD, that will be paid per engine or gen set sold to Licensee, to the Coates Trust regardless of the size or type of CSRV engine.
Article V - PAYMENTS EXCLUSIVE LICENSE FEE
5.1 PAYMENTS AND ROYALTIES
Upon execution of this agreement, the Licensee shall pay a one-time fee of $1,000,000 USD to Licensor.
Note: In the FORWARD LOOKING STATEMENTS disclaimer, the words "shall pay" are not mentioned as forward looking
Therefore, one can reasonably conclude that the $1MM payment will be made soon.
Just my observation. Staying long.
ARTICLE VII – REPRESENTATIONS
7.1 Licensor represents and warrants as follows:
(c) Licensee has the financial capability to pay the consideration that is required by Article V, noting Coates company management has agreed to forgive the exclusive license fee of $75,000,000 USD replaced by a royalty fee of $50 USD, that will be paid per engine or gen set sold to Licensee, to the Coates Trust regardless of the size or type of CSRV engine.
Article V - PAYMENTS EXCLUSIVE LICENSE FEE
5.1 PAYMENTS AND ROYALTIES
Upon execution of this agreement, the Licensee shall pay a one-time fee of $1,000,000 USD to Licensor.
Note: In the FORWARD LOOKING STATEMENTS disclaimer, the words "shall pay" are not mentioned as forward looking
Therefore, one can reasonably conclude that the $1MM payment will be made soon.
Just my observation. Staying long.
(2)
(0)Coates International (COTE) Stock Research Links
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