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9. Significant Agreement
9 Months Ended
Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]  
9. Significant Agreement

9. Significant Agreement

 

On or about February 26, 2015, the Company entered into a distribution agreement (“Distribution Agreement”) with Yontem Cosmetics Dis Tic. Ltd. Sti (“Yontem”) a Turkish company; thereby, naming Turkey (the “Territory”) as an exclusive territory for Yontem. The terms of the Distribution Agreement, expects that Yontem will sell a minimum of 1,000 1.7oz units per month during the 1st year, 2,000 1.7oz units per month during the second year of operation and 3,000 units per month in the third year upon the establishment of the company by Yontem. The Distribution Agreement is for an initial period of three years and then the two parties will evaluate the progress of the Distribution Agreement. The Distribution Agreement can then be renewed for an additional five-five year periods. The Distribution Agreement also states that in order to maintain exclusivity on the Territory the quota numbers must be met, and that if they are not met then Yontem will lose exclusivity to the Territory.

 

On or about June 5, 2015, the Company entered into a distribution agreement (“Distribution Agreement”) with RAVL Ltd (“RAVL”) a Ukraine company; thereby, naming Ukraine (the “Territory”) as an exclusive territory for RAVL. The terms of the Distribution Agreement shall be for a period of 5 years to evaluate the progress for renewal for five-five year periods. Quotas will be agreed upon after 1st year, however, as per the Distribution Agreement RAVL is expected to sell 192 bottle of Rejuvel 1.7oz product or 8 cases (24 bottles on each case) on a monthly based on average for the first year. The Distribution Agreement also states that in order to maintain exclusivity on the Territory the quota numbers must be met, and that if they are not met then RAVL will lose exclusivity to the Territory.

 

On July 1, 2015, The Company entered into a service agreement with Kon-Lin Investors Ltd (“Kon-Lin”). Kon-Lin will provide technical analysis of the Company’s common stock to include analysis of charts, tends, moving average, time, supply and demand. The consideration for the service is $5,000 per month and this agreement will continue on a month to month basis

 

On or about July 19, 2015, the Company entered into a distribution agreement (“Distribution Agreement”) with Houboubati Group Companies (Hounoubati); thereby, naming Saudi Arabia, Qatar, Kuwait and UAE Region (the “Territory”) as an exclusive territory for Houboubati. The terms of the Distribution Agreement shall be for a period of six months to evaluate the progress for renewal period to term of an additional two years. Quotas will be agreed upon after the first six periods. Houboubati is expected to order a minimum of 1,000 units with the completion of the product being properly registered for the sales in the territory.