Ceased Operations May15, 2009

Free
Message: It's simple folks...

Bioagra pays a royalty to PBI based on Bioagra's sales. When the percentage of that royalty is decreased from 7.5% to 2.5% it increases Bioagra's bottom line by 5%. PBI was providing test result data and support for their patented process in exchange for the 7.5%. Now that PBI's process has beeen improved upon by Bioagra, Bioagra no longer needs ths outdated test results and suport. For this, and other reasons, the terms of the license agreement were renegotiated and resulted in what was reported in the 8K. It's as simple as that.

-zties

Share
New Message
Please login to post a reply