Lotte - DM Joint Venture
Came across an article (dated April 2020) highlighting a tentative Lotte - DM JV I was not aware of - perhaps missed in my readings. I was wondering if anyone on this board was aware of the outcome. Here's the gist of the arrangement (quite interesting) and the link: "If Lotte is awarded the contract, theyll form a JV with Datametrex AI but also KT Net, a corporation owned and controlled by the South Korean government. The JV will give Lotte %75 of the equity, with DM getting %15 and the final ten percent going to KT Net. Under terms agreed by the parties, Lotte would contribute $450,000, Datametrex will provide its AI technology and KT Net will provide private blockchain technology. The total revenue expected to be earned from this contract is approximately $1.2-million per year, and Datametrex expects to receive its proportionate share of the revenue after payment of the joints companys expenses. There is no assurance that Lotte Group will be successful in its bid." https://equity.guru/2020/04/10/datametrex-ai-dm-v-form-jv-south-korean-conglomerate-lotte-fight-fake-news-conspiracy-theories/