august press release.
The licensing will be to a US-Virginia based private equity group. The terms of the transaction include:
Exclusive Licensing Rights for North America
$1 Million one-time payment
10% royalty on all sales
15% annual software maintenance fee on all sales
Form 10-K for WORDLOGIC CORP 15-Apr-2015 Annual Report
EXCERPT Operating Revenues
Operating revenues for the twelve months ended December 31, 2014 were $nil and is comprised of product sales.
Operating revenues for the twelve months ended December 31, 2013 were $366 and is comprised of product sales of $366.
EXCERPT Going Concern
We have not attained profitable operations and are dependent upon obtaining financing to pursue any extensive acquisitions and activities. For these reasons, our auditors stated in their report on our audited financial statements that they have substantial doubt that we will be able to continue as a going concern without further financing.
EXCERPT Future Financings
We will continue to rely on equity sales of our common shares in order to continue to fund our business operations. Issuances of additional shares will result in dilution to existing stockholders. There is no assurance that we will achieve any additional sales of the equity securities or arrange for debt or other financing to fund our operations and other activities.
Anyone that shorted WLGC made a lot of money today! Peaks and valleys are the only way to play this one. Like many penny stock, there is hope and despair where investors throw the dice with uncertainty. Does anyone on this board really know where this stock is headed?
Much hype. No action. No cash flow. Now income. One might do just as well, or better, to throw dice in Las Vegas. In perspective it could be worse as this is my third lowest valued stock. I've been carrying one position at $00.00000 for a few years, and another at $00.0008.