Details of deal with Intelimax MediaFound this looking at Intelimax (IXMD) filings on Edgar
| Item 1.01 | Entry into Material Definitive Agreement |
On April 12, 2011, Intelimax Media Inc., (the “Company”) entered into apurchase and sale agreement as well as a software support agreementwith Las Vegas From Home.com Entertainment Inc. Pursuant to the termsof the purchase and sale agreement, the Company will acquire world-wide,non-exclusive rights to certain source code used in the development ofonline gaming applications for total consideration of CAD $344,412.50plus 12% Canadian harmonized sales tax (“HST”). The first payment of$291,912.50 plus HST is to be made within 5 days of the date of theagreement, with the second payment, $52,500 plus HST, being made within10 business days of Las Vegas From Home meeting all of its obligationsunder the agreement, or the software being made available to theCompany’s customers, or within 180 days of the Agreement, whichever isearlier.
Pursuant to the terms of the software support agreement, the Companyshall pay Las Vegas from Home a monthly fee of CAD $25,000 (or moredepending on the amount of users on the Company’s websites) in exchangefor Las Vegas From Home supplying the hardware and hosting servicesnecessary to operate the Company’s online gaming platforms, customerdata and customer reporting services, customer support and clientsupport, software modifications and upgrades, and website updates. Theterm of the agreement is 3 years and may be terminated by either partyby providing 60 days notice.
Copies of both agreements are filed as exhibits to this Current Report on Form 8-K