Sharing Economy International Amends Terms of License Agreement with Ecrent Capital Holdings Limited
SHARING ECONOMY INTL INC (SEII)
US:NASDAQ Investor Relations:
prnewswire.com/news-releases/sharing-economy-internationals-chairman-issues-open-letter-to-shareholders-300596864.html
Company Research
Source: PR Newswire
HONG KONG, Sept. 4, 2018 /PRNewswire/ -- Sharing Economy International Inc. ("SEII" or "the Company") (NASDAQ: SEII) today announced that its wholly-owned subsidiary, Sharing Economy Investment Limited ("SEII"), has amended the terms of the License Agreement, which was originally entered into on May 8, 2018 and amended on May 24, 2018, with Ecrent Capital Holdings Limited ("ECRENT"), regarding the grant of an exclusive and sublicensable license from ECRENT to SEII to utilize certain software and trademarks in order to develop, launch, operate, commercialize, and maintain an online website platform in Taiwan, Thailand, India, Indonesia, Singapore, Malaysia, Philippines, Vietnam, Cambodia, Japan, and Korea. According to the latest amendment, ECRENT will guarantee that the operation of its related websites, mobile applications and business services will contribute revenue of US$13,000,000 (increased from US$10,000,000 according to the previously amended agreement) and gross profit of US$
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