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Microcap & Penny Stocks : TSIG.com TIGI (formerly TSIG) -- Ignore unavailable to you. Want to Upgrade?

To: Jazzbo who wrote (17091)	2/14/1999 5:15:00 PM
From: Ellen	Read Replies (1) \| Respond to of 44908

sec.gov The license may be used by the Registrant and CCI for and in connection with an internet web-site for the sale of pre-recorded music in exchange for a royalty fee to Seller of one percent (1%) of any net income derived from the web-site. In the event that the assets are not acquired, the license shall remain in effect for a term of ten (10) years, and is renewable for an unlimited number of additional five (5) year periods. ---------- 3. COMPENSATION. 3.1 In consideration for the license granted hereunder, Buyer agrees to pay to Seller a royalty of one percent (1%) of the net income, if any, generated as a result of sales of pre-recorded music by Buyer on or through the internet web site during the Term of this Agreement, as may be extended in accordance with paragraph 2.1 hereinabove. 3.2 Royalty payments shall be payable within sixty (60) days after the end of each fiscal quarter ended March 31, June 30, September 31, and December 31 of each calendar year (each fiscal quarter is referred to as a "Royalty Period"). 3.3 Net income shall be defined in accordance with generally accepted accounting principals. ---------- I have a question. Does this (as follows below) mean that the purchase agreement has been "understood to be" (as discussed on this thread) between CCI and TSIG - but was actually an agreement between DP Enterprises, Inc. and TSIG? And that Compact Connection is a separate entity (from Piercy) and still is a wholly-owned subsidiary of TSIG? THIS ASSET PURCHASE MODIFICATION AND LICENSE AGREEMENT ("Agreement") is entered into this 9th day of July, 1998 by and between DP Enterprises, Inc. (formerly Compact Connection, Inc.), a Nevada corporation ("Seller"), Darrell W. Piercy (the "Seller's Shareholder"), TeleServices International Group Inc., a Florida corporation ("TSIG") and TSIG's wholly-owned subsidiary, Compact Connection, Inc., a Delaware corporation ("Buyer"). From the very first line of this post - The license may be used by the Registrant and CCI - that's how it reads to me. Comments?