ReviewIn reviewing this release today, once the $ 1 million owing to license fee agreement is paid Ucore should be the majority owner, giving them controlling access to IBC's customer base as stated in the release. Guess it would advantageous for Ucore to procure as soon as possible. I wrote Mark today, he is on holidays, I got a response from Mr. Fillmore, here is his response to my question of ownership.
[Negotiations for the JV are ongoing, we do not have a set timeline. After the negotiations are complete and payment has been made the details will be provided to shareholders.]
Thanks for your inquiry.
I guess I should not have expected much more.
Also, when reviewing the options deal offered to the IBC, seems like a pretty lucrative deal, especially for the key people at IBC with the trailer for 5 years at 7%, if I were them I would want this option exercised quickly as possible, then they can all go fishing.