Sharing Economy International Enters into License Agreement with PTI Corporation for South Korean Market Expansion of ECRENT
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, Aug. 16, 2018 /PRNewswire/ -- Sharing Economy International Inc. ("SEII" or "the Company") (NASDAQ: SEII) today announced that its wholly-owned subsidiary, Sharing Economy Investment Limited ("SEIL"), has entered into a License Agreement with PTI Corporation ("PTI"), that sublicenses SEIL's exclusive license with Ecrent Capital Holdings Limited ("ECRENT") to utilize certain software and trademarks in order to develop, launch, operate, commercialize, and maintain an online website platform in South Korea. In return, PTI shall pay to SEIL $230,000 ("Consideration"). The License Agreement will be effective on September 1, 2018 through December 31, 2019. In addition, if the aggregate revenue during the period exceeds the Consideration, SEIL shall receive 30% of the difference between the aggregate revenue and the Consideration."This agreement represents a great step for us to foster the market presence of ECRENT in South Korea, since we obtained the ECRENT exclusive operating l
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