wake up!!!!!!!Here is one OEM, they have a liscence agreement with us. We get the royalty and dont have to put money up front. I dont see any reverse split in the near future. We will/do have revenue coming in but this revenue will not show up on the upcoming financials. Dont forget the other multiple contracts that are generating revenue for us.
SONOMAX® ANNOUNCES LICENSE AGREEMENT WITH SKULLCANDY® FOR SONOFIT™ TECHNOLOGY
Audio Brand OEM embraces self-fit technology
MONTREAL, June 21, 2011 /CNW Telbec/ - During its Annual & General Meeting held today in Montreal, Sonomax Technologies Inc. (TSXV: SHH) announced that it has signed its first license agreement with an OEM (Original Equipment Manufacturer). Skullcandy®, an audio brand company based in Park City, Utah, has licensed the SonoFit™ technology for use in Skullcandy branded earphones.
"We could not have asked for a better OEM Licensee for our consumer vertical, than Skullcandy," said Nick Laperle, Sonomax's CEO. "
Under the terms of the agreement, Sonomax intends to modify its current earphone product line to incorporate Skullcandy's industrial design and branding. The companies will work towards creating a line of Skullcandy products featuring SonoFit. For strategic and competitive reasons, details of the agreement will remain confidential until products are released.