FZO 3.16% 49.0¢ family zone cyber safety limited

Ann: Family Zone signs landmark collaboration with Netsweeper, page-2

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    Collaboration Agreement Details
    Parties Family Zone and Netsweeper Inc
    Key Terms Collaboration Agreement, superseding a Master Services Agreement.
    Term of 2 years with automatic two year extensions, unless terminated by either party.
    Family Zone is obliged to enable Netsweeper categorisation services into its education
    platform by 31 July 2018.
    The parties agree to work together to develop an interface between Netsweper’s in-line
    telco services with Family Zone’s ecosystem. Actual deployment of a production interface is
    subject to reaching agreement with Netsweeper’s telco clients.
    Agreement sets out wholesale charges for Netsweeper categorisation services to Family
    Zone during the term of the Collaboration Agreement.
    Agreement provides for the prepayment of $1 million of categorisation services by Family
    Zone to Netsweeper through the issue of 2,087,436 new shares in the Company. The issued
    shares are subject to a voluntary escrow, being progressively released as Family Zone’s use
    of Netsweeper services consumes the prepayment. Each month Netsweeper will issue
    Family Zone with an invoice for applicable charges and the associated shares that shall be
    released from escrow. Under the agreement the prepayment is required to be fully
    consumed within the 2 year initial term.
    Materiality and
    Projections
    We are unable to forecast the potential revenue from this agreement or its financial
    materiality. The Company however considers this to be a strategically important agreement
    given the Company’s commercialisation strategy.

    Nothing 'Landmark' about it.
 
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