OXIS International, Inc. (OXIS)
On June 29, 2011 (the “Effective Date”), OXIS International, Inc., a Delaware corporation (“Oxis”) entered into a Joint Venture Agreement (“Joint Venture Agreement”) with John E. Repine, M.D. (“Dr. Repine”). Under the terms of the Joint Venture Agreement, Oxis and Dr. Repine formed a Delaware limited liability company, Ergo ARDS, LLC (the “Company”), in which Oxis holds a 60% membership interest and Dr. Repine holds a 40% membership interest. The Company was formed to develop, acquire and market dietary supplements, cosmeceutical products, nutraceutical products, medical foods and pharmaceuticals using L-Ergothioneine (“Ergo”) for treating, diagnosing and preventing acute respiratory distress syndrome and other lung disorders (collectively “ARDS”) (the “Business”).
Concurrently with the execution of the Joint Venture Agreement, Dr. Repine assigned his interest in the patent applications relating to the use of Ergo in treating ARDS (the “Assigned IP”) to the Company. In consideration for the Assigned Interest, Dr. Repine was issued a 40% membership interest in the Company.
Oxis will be responsible for supplying Ergo to the Company at no cost in connection with the Company’s animal studies. Oxis will also pay all patent prosecution and maintenance costs relating to the Assigned IP.
The Company is required to make payments to Dr. Repine upon the achievement of certain milestones by the Company. Any future payments to Dr. Repine shall be made based on the achievement of following milestones with respect to products to be commercialized using the Assigned IP:
· The Company shall pay the following cash amounts to Dr. Repine upon the attainment of the following milestones:
(i) Licensing the Assigned IP to a pharmaceutical company — $1,000,000;
(ii) Completion of Phase I Clinical Trial — $250,000;
(iii) Completion of Phase II Clinical Trial — $1,000,000;
(iv) Completion of pivotal Phase III Clinical Trial — $1,500,000; and
(v) Receipt of FDA Marketing approval — $3,000,000
· The Company shall pay the following cash amounts to Dr. Repine upon the attainment of the following milestones:
(i) Licensing the Assigned IP to, or entering into a distribution agreement with, a nutraceutical or similar company — $100,000; and
(ii) Gross sales of products utilizing Ergo in the Field – 5% of annual gross sales by the Company or any licensee or distributor (including Oxis). […]
OXIS International Inc.
468 North Camden Drive
2nd Floor
Beverly Hills, CA 90210
United States
Phone: 310-860-5184
http://www.oxis.com
OXIS INTERNATIONAL, INC. is completing a strategic and timely transformation towards its goal of becoming a leading nutraceutiecal, cosmecuetical and therapeutics company.
OXIS was founded in 1966 and for many years focused on diagnostics while developing some of its unique patented compounds and acquiring significant expertise in the field of oxidative stress including ERGO.
OXIS is now focusing its business on its rich science background and its related 12 key patents and 7 patent pending applications and other new research.
FBC Holdings, Inc. (FBCD)
On July 6, 2011, we entered into a Second Addendum to the Amended Stock Transfer Agreement with Super Rad to clarify the remaining payment terms for our purchase of the Super Rad assets (the “Second Addendum to Stock Transfer Agreement”). Under the Second Addendum to Stock Transfer Agreement we agreed to pay the remaining One Hundred Forty Five Thousand Dollars ($145,000) to Super Rad (the “Total Payment Obligation”) along the following schedule: Sixty Thousand Dollars ($60,000), as well as agreed-upon payments for expenses associated with Super Rad’s website development, product production and freight delivery, legal fees, third-party licenses, storefront lease obligations, and consulting agreements (“Operational Expenses”), by no later than July 13, 2011; and the remaining Eighty-Five Thousand Dollars ($85,000), by delivering Ten Thousand Dollars ($10,000) per month to Super Rad not later than the first (1st) day of each month, beginning on August 1, 2011, until the remaining Eighty-Five Thousand Dollars ($85,000) is paid in full. (These monthly payments shall be referred to herein as the “Monthly Payments”). Additionally, we agreed with Super Rad to conduct a detailed accounting of all funds paid or loaned to Super Rad in connection with the asset purchase and we agreed to pay the difference between that determined amount and the full working capital amount of One Million Five Hundred Thousand Dollars ($1,500,000) we agreed to pay pursuant the transaction documents, by December 31, 2011.
Under the Second Addendum to the Stock Transfer Agreement, if we fail to make any of the payments outlined above after a ten (10) day cure period after receiving a late payment notification from Super Rad, then Super Rad will have the right to terminate the Amended Stock Transfer Agreement and Amended Asset Purchase Agreement and keep all monies paid by us to Super Rad in connection with the asset purchase through date of termination.
Super Rad Industries (FBC Holding, Inc.) (FBCD)
269 S. Beverly Dr., #1046
Beverly Hills, CA 90212
Phone: (310) 836-5990
contact@superradindustries.com
http://www.superradindustries.com/
Super Rad Industries is committed to producing high quality collectibles and products. We are a potluck of influences that include traditional art, high brow art, low brow art and pop art. Our goal is to inspire and invoke our audience’s imagination. Super Rad Industries would like to cleanse the palette of the mundane with our offerings, incorporating projects that have good hearts and souls with a unique sense of design, humor and impeccable quality.
Hi Score Corp. Receives Additional Six Figure Lighting Contracts
MIAMI , July 12, 2011 /PRNewswire/ — Hi Score Corporation (PINKSHEETS: HSCO) announced today that it has received approval on two additional six figure lighting contracts.
Each of the recent sales orders coming through Hi Score ‘s newly acquired subsidiary, DMD Lighting and Energy Control Systems, is in excess of one hundred thousand dollars.
The company recognizes that low six figure sales are not that significant on their own, but cumulatively momentum is building for a profitable 2011/2012.[…]
Hi Score Corp.
1909 Tigertail Boulevard
Dania Beach, FL 33004
United States
Phone: 954-922-5740
Fax: 954-922-5742
http://www.hiscorecorporation.com
Hi Score Corporation (HSCO.PK) serves as the parent company for Green LED Technology Inc. Hi Score is also the owner of the EcoGreenBulb Line of Compact Fluorescent Lamps and the REPCO Line of Traditional Lighting. As the parent or holding company, Hi Score is a public company which is traded on the OTC Market.