That's the original agreement with NDT going back
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Posted On: 08/15/2018 10:57:28 AM
That's the original agreement with NDT going back to when they were developing aqua, organa, and aero. Below, you can see that it was also in the 2016 10-k as well as the other reports:
The Company entered into a Distribution and License Agreement with a third-party for the purpose of developing a sensor array to be used in the Company’s product. The Distribution and License Agreement has an initial term of ten years, but can be terminated earlier if the project does not meet the specifications of the Company. The Company will obtain exclusive rights to sell and distribute once a successful sensor prototype is developed. In exchange for a functional prototype, the Company will pay the third-party a 7% royalty on net sales. During the year ended December 31, 2016 and 2015, the Company did not incur any development costs related to the Distribution and License Agreement.
https://www.otcmarkets.com/filing/html?id=120...WzJqeMZ3th
The Company entered into a Distribution and License Agreement with a third-party for the purpose of developing a sensor array to be used in the Company’s product. The Distribution and License Agreement has an initial term of ten years, but can be terminated earlier if the project does not meet the specifications of the Company. The Company will obtain exclusive rights to sell and distribute once a successful sensor prototype is developed. In exchange for a functional prototype, the Company will pay the third-party a 7% royalty on net sales. During the year ended December 31, 2016 and 2015, the Company did not incur any development costs related to the Distribution and License Agreement.
https://www.otcmarkets.com/filing/html?id=120...WzJqeMZ3th
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