Subsequent Events |
3 Months Ended | ||||||||||||||
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Nov. 30, 2016 | |||||||||||||||
Subsequent Events [Text Block] |
During the first 12 months after the date of the amended agreement with CAB, upon the Company achieving non-refundable revenues of $200,000 to any signle customer in any consecutive 60 -day period, CAB would be entitled to an award of 100,000 restricted common shares of the Company and after the first 12 -month period, expiring after 24 months of the amended agreement, upon the Company achieving non-refundable revenues of $200,000 to any single customer in any consecutive 60 -day period, CAB would be entitled to an award of 50,000 restricted common shares of the Company. These awards are limited to one payment per customer during the 24 -month period but payable for each customer that meets the revenue thresholds. During the first 12 months after the amended agreement, the Company achieving non-refundable revenues of $500,000 in any fiscal quarter would result in an award to CAB of 200,000 common shares of the Company and after the first 12 months, expiring 24 months after the amended agreement, the Company achieving non-refundable revenues of $500,000 in any fiscal quarter would result in an award to CAB of 100,000 common shares of the Company. These awards are limited to one payment per fiscal quarter. During the term of the amended agreement, for each provisional patent application substantively devised by CAB and successfully created, written and filed with the US Patent Office for the Company’s Technology, CAB will be entitled to an award of 250,000 restricted common shares of the Company.
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