The 8k covering the agreement between COTE and Sec
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Posted On: 01/30/2017 3:19:00 PM
The 8k covering the agreement between COTE and Secure
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.
A royalty of $50 USD will be paid per engine or gen set sold to Licensee, to the Coates Trust regardless of the size or type of CSRV engine.
Licensor shall proceed with the process of modifying of a 100 to 150 KW CSRV gen set to demonstrate the successful operation of Secure Supply HK LLC HH2 Gas POD and Injection Ignition system for commercial use.
Licensee shall deliver one 6-cylinder fuel injection system and one gas POD for testing and demonstration for scale up to CSRVv12 and CSRVv16 1 mw to 5 mw Models.
seems like GC modified his engine- I wonder if that means Secure paid ther 1 mill licensing fee?
I am still saying -probably not- but the odds just increased a bit.
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.
A royalty of $50 USD will be paid per engine or gen set sold to Licensee, to the Coates Trust regardless of the size or type of CSRV engine.
Licensor shall proceed with the process of modifying of a 100 to 150 KW CSRV gen set to demonstrate the successful operation of Secure Supply HK LLC HH2 Gas POD and Injection Ignition system for commercial use.
Licensee shall deliver one 6-cylinder fuel injection system and one gas POD for testing and demonstration for scale up to CSRVv12 and CSRVv16 1 mw to 5 mw Models.
seems like GC modified his engine- I wonder if that means Secure paid ther 1 mill licensing fee?
I am still saying -probably not- but the odds just increased a bit.
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