RE:RE:RE:RE:ABXX@Maple3,
Abaxx Tech is the parent company. Abaxx Exchange is 81% owned by Abaxx Tech--per their most recent investor presentation slide deck they say 84% actually (see Abaxx Tech website IR section). Through their Master License Agreement "MLA" Abaxx Tech owns a 5% gross revenue royalty on Abaxx Exchange. Below is the relevant text from the information circular:
As consideration for the Licensed Software and the Support Services, ACX agreed to pay Abaxx Tech a royalty on revenues equal to 20% of gross revenues up to US$2,000,000, 10% of gross revenues in excess of US$2,000,000 and up to US$5,000,000 and 5% of gross revenues in excess of US$5,000,000 (collectively, the “ACX MLA Royalty”).
Further in the circular, Abaxx Tech has this to say about the MLA:
Abaxx intends to generate revenue through software license sales and royalties, including royalties granted by ACX and Operem, and through the inception of new subsidiaries and new software licensee partners in other market segments. The licensing business model is scalable and requires much lower capital investment than internally launching products that utilize the Software and IP Portfolio. By licensing its technology, Abaxx has an opportunity to address several market segments concurrently, incrementally and in rapid succession by building on earlier success.
Abaxx also intends to generate revenue through its majority-owned ACX, which intends to address the growing demand for price-risk transfer in energy and metals markets in Asia and globally. Abaxx also intends to generate revenue through the ACX MLA and ACX Royalty. Abaxx holds a right to increase its ACX Royalty by an additional 1% by making a payment of US$10,000,000. Over time Abaxx may choose to dilute its interest in ACX equity by selling new equity to future market participants or to local institutions in Singapore or other third-party equity investors, while maintaining the ACX MLA and ACX Royalty.