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by rarkins
1160 days ago
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From https://www.marketscreener.com/quote/stock/PALTALK-INC-11131... > On June 30, 2022, we entered into a License Agreement with Visicom (the "License
Agreement"), pursuant to which we agreed to distribute, at the discretion and
direction of Visicom, a specified number of ManyCam software updates to certain
license holders to whom Visicom has previously granted a "lifetime" license to
ManyCam software. As consideration for distributing the software updates,
Visicom paid us an initial upfront nonrefundable payment of $65,000. The License
Agreement provides that Visicom may purchase additional licenses at prices
specified therein. Other than providing a one-time, limited license to Visicom
for the distribution of ManyCam software updates pursuant to the terms of the
License Agreement, we do not have any obligation to provide support or service
to the licensee end users. |
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