colorado , lasvegas and chinney asia all sould be completed this quarter
is expected that the agreement for Colorado when signed will be for a minimum initial quantity of 125 Smart Antennas, while the Nevada agreement when signed will be for a minimum initial quantity of 200 Smart Antennas. Both agreements are expected to be finalized and signed during iSIGN's next fiscal quarter, which begins February 1, 2013.
Additional details will be released when each agreement is finalized and signed.
"We are extremely pleased to announce these negotiations," said Mr. Alex Romanov, iSIGN's Chief Executive Officer. "This is a very clear indication that our Smart Antennas and advertising solution are capturing the attention and interest of other parties who believe that this system is a viable method of communicating with consumers."
"We are looking forward to signed agreements and expect to see very interesting information being generated, especially from the Las Vegas, Nevada installations," added Mr. Romanov.
Asia chinny agreemenet
The intent is to define a five year licensing agreement to be finalized on or before April 30, 2013. This time frame will allow Chinney to complete their assessment and introduction of iSIGN's Smart Antenna to their client base, as well as for any required re-programming of the software and metrics required to suit their specific market needs. This agreement will include key elements that have been agreed to in the LOI, such as Chinney's payment for the manufacturing of all Smart Antenna hardware that is required, the sales and marketing of iSIGN's products in their agreed upon territories at their expense and the sharing of resulting metrics. Chinney will incorporate a Newco at their sole expense to handle the marketing and sales efforts and iSIGN has been granted the option to buy equity by converting licensing fees for shares for a given period of time at a fixed price to be determined.