Per ACS/SFOR contract, Rev-PR between 4/1&4/15
Post# of 82686
(Total Views: 653)
Posted On: 03/26/2018 3:06:42 PM
Per ACS/SFOR contract, Rev-PR between 4/1&4/15
What below means is this:
Mark said some accounts possably going live in March . ACSs accounts that go live have to pay the following month by the 15th. Then between 5/1 -5/15/18, then 6/1 - 6/15/18 and so on.
So sometime between April 1st and no later than April 15th , SFOR is going to be paid by ACS for whatever jobs have gone live if any. Its in the contract below.
We don't know what jobs have gone live , but whatever jobs have, if it is significant, then he can PR it as he said he would.
Mark can release a PR for SFORs received revenues anytime.
So take heart , we could see the PR revs anytime from 4/1/18 through 4/15/18 from ACS We can see an SFOR PR anytime.
SFOR & ACS Contract
"ASSET PURCHASE and LICENSING AGREEMENT"
1.1.5.) STI shall license the Malware Suite to CSI on an exclusive basis in perpetuity on the following terms:
1.1.5.1.) Until September 30, 2020, even if the Asset Purchase Promissory Note (see paragraph 3.1.3, below) is executed and paid in full prior to that time, CSI shall be obligated to pay to STI the Percentage Payment (as defined in paragraph 3.1.3.4, below); however, if the Malware Suite includes ProtectID, then the 15% amount referenced in paragraph 3.1.3.4, below, shall be modified to be 20% .
1.1.5.2.) The Percentage Payment shall be payable to STI by the 15th of each month for all Malware Suite licenses which CSI was paid for in the prior month.
1.1.5.3.) Following payment in full of the Promissory Note, as CSI will own the “GuardedID” and “MobileTrust” software and the underlying patents, subject to 1.1.5.4, below, the Percentage Payment obligation will continue until September 30, 2020, and then be terminated.
1.1.5.4.) Following September 30, 2020, even if the Asset Purchase Promissory Note (see paragraph 3.1.3, below) has been paid in full, in regard to CSI Net Amount Received (as defined in paragraph 3.1.3.4, below) received in regard to sale or licensing of the White Label Products which include the ProtectID software product, CSI shall pay to STI fifteen percent (15%) of one-half (1/2; i.e., 50.00%) of the CSI Net Amount Received (as defined in paragraph 3.1.3.4, below).
See also page 10 of above link
What below means is this:
Mark said some accounts possably going live in March . ACSs accounts that go live have to pay the following month by the 15th. Then between 5/1 -5/15/18, then 6/1 - 6/15/18 and so on.
So sometime between April 1st and no later than April 15th , SFOR is going to be paid by ACS for whatever jobs have gone live if any. Its in the contract below.
We don't know what jobs have gone live , but whatever jobs have, if it is significant, then he can PR it as he said he would.
Mark can release a PR for SFORs received revenues anytime.
So take heart , we could see the PR revs anytime from 4/1/18 through 4/15/18 from ACS We can see an SFOR PR anytime.
SFOR & ACS Contract
"ASSET PURCHASE and LICENSING AGREEMENT"
1.1.5.) STI shall license the Malware Suite to CSI on an exclusive basis in perpetuity on the following terms:
1.1.5.1.) Until September 30, 2020, even if the Asset Purchase Promissory Note (see paragraph 3.1.3, below) is executed and paid in full prior to that time, CSI shall be obligated to pay to STI the Percentage Payment (as defined in paragraph 3.1.3.4, below); however, if the Malware Suite includes ProtectID, then the 15% amount referenced in paragraph 3.1.3.4, below, shall be modified to be 20% .
1.1.5.2.) The Percentage Payment shall be payable to STI by the 15th of each month for all Malware Suite licenses which CSI was paid for in the prior month.
1.1.5.3.) Following payment in full of the Promissory Note, as CSI will own the “GuardedID” and “MobileTrust” software and the underlying patents, subject to 1.1.5.4, below, the Percentage Payment obligation will continue until September 30, 2020, and then be terminated.
1.1.5.4.) Following September 30, 2020, even if the Asset Purchase Promissory Note (see paragraph 3.1.3, below) has been paid in full, in regard to CSI Net Amount Received (as defined in paragraph 3.1.3.4, below) received in regard to sale or licensing of the White Label Products which include the ProtectID software product, CSI shall pay to STI fifteen percent (15%) of one-half (1/2; i.e., 50.00%) of the CSI Net Amount Received (as defined in paragraph 3.1.3.4, below).
See also page 10 of above link
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