Onteco Corporation Received $2.9 million Stock under Its First International Licensing Agreement

Onteco Corporation, had received 2,037,948 shares of common stock of a publicly-traded company currently listed on the Frankfurt Stock Exchange.

The stock is presently valued at $2.9 million U.S. dollars and is part of the payment due under the terms of the international licensing agreement signed April 30, 2012, with JARLYN S.A., ("JARLYN") a Uruguayan corporation, for Onteco's  proprietary LED intellectual property ("IP"), developed by its subsidiary, NexPhase Lighting, Inc. ("NexPhase").

Under the terms of this agreement, Onteco is to receive a combination of $2.9 million dollars of common stock of a publicly-traded company acceptable to Onteco, cash and an ongoing royalty on gross revenues from the sales and installations of lighting products by JARLYN which use the IP.

"We are delighted to have received the stock due as payment in the licensing transaction," Dror Svorai, President of the Company, stated, "JARLYN will be using our IP in their new products which will be sold throughout Uruguay in the coming years, and we look forward to a long relationship with them, and continuous growth in revenues."

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.

Tokushima, Japan - 6 March 2024: Nichia, the world's largest LED manufacturer and inventor of the high-brightness blue and white LED, has started mass production of the new UV-B (308nm) and UV-A (330nm) LEDs in its popular 434 Series packa... READ MORE

New XLamp® S Line LEDs enhance growth, last longer, lower energy costs Horticulture and other forms of agricultural lighting require application-tuned ratios of spectral content, high efficacy and long lifetimes. Whether you are interested... READ MORE