Blue Industries, Inc., will not acquire 100 percent of the shares of the company EAUDEGAM S.A., a Swiss corporation with a capital of 100,000CHF.
After consultation, both parties have agreed to and signed a license acquisiton contract. The contract sets forth the following.
The company has acquired a manufacturing and marketing license for wastewater purification devices in accordance with the French patent application number 00 07642 and the international patent application PCT / FR01 / 01817, plus any patents that may be derived from them, against the issuance of 9.000.000 restricted shares, plus a royalty of 2.5% on the annual turnover of the company.
The management is confident that this patent license acquisition will help Blue Industries better position itself and strengthen its presence within the wastewater clarification market worldwide.
"We have to notify that the clarification process used through these patents represents 65 percent of the turnover on the contracts that have been signed as well as the ones in the process of being signed," said Mr. Leloroux, president of Blue Industries.
Source: Blue Industries, Inc.