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Technology Stocks : BIFS ... Patented Environmental Cleanup and Low Float Co. -- Ignore unavailable to you. Want to Upgrade?

To: scion who wrote (339)	4/2/2001 10:12:31 PM
From: scion	Read Replies (1) \| Respond to of 381

NOTE B - NATIONAL SALES AGREEMENT The Company's majority stockholders own another company that provides services as a national sales agent (see Note D). In 1992, the Company entered into an agreement whereby the related company provides exclusive national sales services. The term of the agreement is for a one year period, automatically renewable for an additional one year period. This agreement can be terminated with a one year notice by either party. Terms of the national sales agreement provide for the related company to be paid 30% of the Company's retail sales and/or collected lease revenue, as defined. Further, in accordance with the agreement and at its option, the Company may advance funds against future commissions to the related company. In September 2000, sales commission advances amounting to $575,910, were repaid by the related company. For the years ended December 31, 2000 and 1999, no commissions have been incurred or paid under this agreement. new.edgar-online.com