Investorideas.com - Consumer/ Retail Stocks; YesDTC (OTCBB: YESD.PK) 8K Filing: Company entered into a License Agreement with WordSmart Corporation
Alex Trebek to act as an endorser of the WordSmart product line as part of agreement
SAN FRANCISCO - October 29, 2010 (Investorideas.com newswire) – Investorideas.com, a leader in sector investor research reports on recent news and the 8K filing for retail and consumer stock YesDTC Holdings, Inc. (OTCBB: YESD.PK).
8K Filing Hi-Lites:
On October 18, 2010 (the “Effective Date”), the Company entered into a License Agreement with WordSmart Corporation (“WordSmart”) for the “WordSmart” Product Line (the “License Agreement”). Pursuant to the License Agreement:
· WordSmart granted the Company, among other things, (i) an exclusive limited license to market, distribute and sell the vocabulary building educational product known as WordSmart in the United States, Canada, United Kingdom, New Zealand, Australia, Ireland and South Africa markets and (ii) a non-exclusive right to manufacture the related products.
· The Company agreed to pay WordSmart royalties of 5% of Net Collected Sales (as defined in the License Agreement) plus additional royalties to pay for the services of Alex Trebek and other actors. Royalty payments are due quarterly.
· The Company agreed to make advance payments of $100,000 to WordSmart, which will be credited against future royalties. Of this $100,000, $25,000 was due upon signing and has been paid, and $50,000 is due 14 calendar days after the Effective Date. This $50,000 is fully refundable if WordSmart fails to amend in writing its services agreement, dated as of January 24, 2007, with Gargoyle Productions, pursuant to which Alex Trebek acts as an endorser of the WordSmart product line, for a period of no less than two years at a royalty rate that is at least as favorable as the current one. The remaining $25,000 non-refundable payment is due 60 days after the Effective Date or on such extended date as agreed to by the parties.
· If WordSmart fails to reacquire the services of Alex Trebek for a period of at least two years under terms and conditions acceptable to the Company within 60 days of the Effective Date, the Company may terminate the License Agreement in its entirety.
· The License Agreement has a term of one year, and may be renewed at the option of the Company, for up to 4 additional one year terms, subject to certain conditions including the receipt by WordSmart of at least $50,000 during each calendar quarter during the one year period immediately preceding the renewal term.
Link to 8K Filing:
Summary: http://us.biz.yahoo.com/e/101028/yesd.pk8-k.html
Full Filing: http://yahoo.brand.edgar-online.com/DisplayFiling.aspx?dcn=0001213900-10-004377
Recent News:
YesDTC (OTCBB: YESD.PK) Announces the Initial Airing of a New Infomercial for the MediPendant(TM) Medical Alarm
YesDTC Holdings, Inc. (OTCBB:YESD.PK), a direct-to-consumer global distributor and marketer of consumer goods and products, announced today the Company and its product partner, Medical Alarms Concepts Holding, Inc. (OTCBB:MDHI), will begin airing a new infomercial via direct response television (DRTV) for the innovative and technologically superior MediPendant(TM) medical alarm device. The airing of the infomercial marks the commencement of a new DRTV marketing campaign designed to target a wide reaching national audience.
Full News: http://www.investorideas.com/CO/YESD/news/10261.asp
About YesDTC Holdings, Inc.
YesDTC Holdings, Inc. is a direct-to-consumer marketing company specializing in direct response television (DRTV), internet and retail marketing programs. The Company brings a unique set of skills to this market space. YesDTC combines both the creative talents and financial acumen needed to create a total package for direct-to-consumer marketing programs. Importantly, the Company also maintains a strategic partnership with Schulberg Media Works (SMW), a pioneering media production firm in the direct-to-consumer space with a highly acclaimed list of successful client campaigns and product infomercials. SMW's track record is impressive, with nearly $1.0 billion in revenues generated and a high profile list of industry awards and recognitions. Specifically, SMW campaigns include Tempur-Pedic, Guthy-Renker, Sony, 24-Hour Fitness, Rhino Records, HarperCollins and PureSleep, among many others. More information on YesDTC Holding can be found at www.yesdtc.com and additional information on Schulberg Media Works can be found at www.smw.tv.
Contact:
YesDTC Holdings, Inc
Christian Kirsebom
(925) 247-6666
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