Monster Digital Announces Strategic and Legal Developments
MONSTER DIGITAL (MSDI)
US:NASDAQ Investor Relations:
globenewswire.com/news-release/2018/01/29/1313343/0/en/monster-digital-and-innovate-biopharmaceuticals-extend-outside-closing-date-for-merger.html
Company Research
Source: GlobeNewswire
SIMI VALLEY, CA, Dec. 04, 2017 (GLOBE NEWSWIRE) -- Monster Digital, Inc. (NASDAQ: MSDI) (the “Company”) announced today certain strategic and legal developments. The Company announced that it has forwarded Monster, Inc. a notice of termination of that Trademark License Agreement by and between Monster, Inc. and the Company’s wholly-owned subsidiary, SDJ Technologies, Inc. (the “License Agreement”). The License Agreement is terminated according to its terms ninety (90) days after the receipt of the notice of termination by Monster, Inc. The Company took this step as part of a strategic restructuring effort with respect to its existing business. The Company has been dissatisfied with the existing royalty rate under the License Agreement, especially in light of decreasing sales and demand for its action sports cameras and general softness in the overall market for action sports cameras and accessories. After much deliberation, management concluded that it could not continue to
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