No it does not supersede the previous agreement which was to buy certain assets (no trade marks). The latest sum is on top and it is to buy all remaining assets amd trade marks. After VMT bought certain assets for around $2.9m, VMT bid around $1.5-1.9m to buy the trade marks. That bid didnt go through so the $6.5m we now pay are made up of circa $2m for trade marks and circa $4.5m for peace of mind. All up we have paid $10m for assets that could earn us back that much in one year. I consider the JV a separe thing because we could not say we bought it from the partner as they owed us money and they have never contributed their share of it. $10m is a very little sum indeed. And its being financed by profits generated by the same assets that we got to profit from for 3-4 years without committing much capital (if any) in advance. The distribution agreement gave us the right to sell these trade marks and we paid nothing for that privilege for 3-4 years, made circa $15m cash from this amd then paid $10m to the partner to buy them out completely and get full ownership of the assets. Seems pretty good.
VMT Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held