14. |
Commitments
and Contingencies: |
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The
Company has entered into certain consulting agreements which carry commitments to pay
advisors and consultants should certain events occur. An agreement is in place with one
Company Advisor that calls for total compensation over the four year Advisor Agreement
of 500,000 warrants with an exercise price of $.15 of which 150,000 have vested, should
the advisor complete the entire term of the engagement, 150,000 warrants will vest on
July 24, 2019, another 150,000 on July 24, 2020, and the remaining 50,000 on July 24,
2021.
Additional
Consulting agreements call for two Individual Consultants to receive cash and stock bonuses for directly assisting the
Company in hitting certain operational milestones, such as national television publicity, achieving revenues of $500,000
monthly, $1,000,000 monthly, and $3,000,000 quarterly.
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