Licensing Fee IBC claims that it never received any money for a licensing fee and there is no licensing agreement between IBC and Ucore.
Manuel states on Pg 187 (f):
The use of these license-related terms and the characterization of the Joint Venture and related fee as a "license agreement / arrangement" and a "licensing fee", respectively, are consistent with the previous public disclosure of Ucore, which has been approved by IBC for quite some time. A couple examples Manuel provides supporting this claim are:
d. Ucore's press release dated March 3, 2015, which was approved by IBC, the Joint Venture was referred to as a "license agreement" with additional references to a "licensing fee".
(Ucore paid IBC $1,300,000 in advance payments for payment 4 which was the Joint Venture agreement.)
e. Ucore's press release dated September 26, 2016, which was approved by IBC uses the term "licensing" to characterize the agreement between the parties.