Bravatek Solutions, Inc. (OTCMKTS:BVTK) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
Effective December 21, 2017, Bravatek Solutions, Inc. (the “Company”) entered intoa Joint Venture Agreement (the “Agreement”) with The Go Eco Group, a corporation organized under the laws of the State of Nevada (“LIBE”), to which (1) the parties will form a joint venture limited liability company in Delaware to develop, market and sell products, services and technology based on a web-enabled Light Guard System (the “System”), (2) the joint venture will be owned 35% by the Company and 65% by LIBE; (3) the Company shall fund $25,000 in initial capital to the joint venture; and (4) the joint venture shall have an irrevocable royalty-free non-exclusive license to use all of LIBE’s direct and/or licensed intellectual property necessary for the joint venture to develop and sell the System.
The foregoing description of the Agreement and the terms thereof is qualified in its entirety by the full text of such agreement, which is filed as Exhibit 10.1 to, and incorporated by reference in, this report.
Item 8.01 Other Events.
Effective December 21, 2017, the Company acquired 10-year level term key man insurance for its CEO and Chairman, Dr. Thomas A. Cellucci, in the amount of $5,000,000.
Item 9.01 Financial Statements and Exhibits.
The exhibit listed in the following Exhibit Index is filed as part of this report:
| 10.1 | Joint Venture Agreement dated December 21, 2017 |
Bravatek Solutions, Inc. ExhibitEX-10.1 2 bvtk_ex101.htm JOINT VENTURE AGREEMENT bvtk_ex101.htmEXHIBIT 10.1 Joint Venture Agreement This Joint Venture Agreement (“Agreement”),…To view the full exhibit click here
About Bravatek Solutions, Inc. (OTCMKTS:BVTK)
Bravatek Solutions, Inc., formerly Ecrypt Technologies, Inc., provides security, defense and information security solutions, which assist corporate entities, governments and individuals in protecting their organizations and/or critical infrastructures against error, and physical and cyber-attack. The Company is engaged in marketing and distribution of allied security, defense and information security software, hardware and services, and telecom services. The Company’s products include software, hardware and services, and span a range of industries, including e-mail security, user authentication, robotics, telecommunications and cyber breach protection. The Company’s primary business operations are focused on expanding its marketing program of allied products and services. Additionally, the Company has developed and plans to sell an enterprise-level secure e-mail software appliance named Ecrypt One. Ecrypt One is an e-mail server with integrated security technology.
