First Quarter. Licensee shall pay to PalmSource the maintenance and support fees and the development support services fees as specified in Section 5.2(b) (Ongoing Obligation) and Exhibit D (Licensee Products, Royalties and Fees) for the First Quarter. Such fees shall be due and payable within forty five (45) days after the end of the First Quarter.
First Quarter. Licensee shall pay to PalmSource Royalties for the period commencing on December 3, 2001, and ending on February 28, 2002 (the “First Quarter”). The Royalties shall be calculated as set forth in Section 5.1(b) (Ongoing Obligation) and Exhibit D (Licensee Products, Royalties and Fees). Such Royalties shall be paid as set forth in Section 6.1 (Payment) within forty five (45) days after the end of the First Quarter. In addition, Licensee shall make a one time capital contribution equal to the royalty amount that would have been due on revenues for the period commencing on September 2, 2001, and ending on December 2, 2001, had this Agreement been effective during such period. The parties hereby agree and acknowledge that such capital contribution calculated as set forth in Section 5.1(b) (Ongoing Obligation) and Exhibit D (Licensee Products, Royalties and Fees) equals $11,118,000 and shall be payable within the First Quarter. The parties acknowledge that Licensee’s obligation to pay the capital contribution described in the previous sentence has been satisfied.
First Quarter millions 🞂 Revenues increased 3% primarily reflecting higher gross VOI sales and consumer financing income, partially offset by a higher provision for loan losses ▪ We estimate the 2017 hurricanes reduced our first quarter revenue and Adjusted EBITDA growth by $6 million and $1 million, respectively 🞂 Adjusted EBITDA increased 5% reflecting the revenue gains 7
First Quarter. With the exception of the accounting presentation of the convertible notes, the first quarter result does not differ significantly from other quarters.
First Quarter. Following the effects of COVID-19 on the global economy, the Company focused its first quarter’s efforts on identifying new technologies to enhance the Citizen Green offering, finalizing data pricing models, completion of market evaluations and identifying key strategic relationships. The investment in the new blockchain attestation software. “Tracelocker”, saved the Company approximately $800,000 in cash outlays if done in house, versus roughly $400,000 in debt settlement as reflected in financial section 8. Additionally, it accelerated the Companies goto market strategy by 4-5 months. Highlights include: August 12, 2020 - The Company signed a sublicensing and integration memorandum of understanding with TraceLocker, an Ethereum blockchain compliance platform for medical cannabis growers and importers. Press release here: GCAC ANNOUNCES EXPANSION OF THE CITIZEN GREEN PLATFORM WITH NEW 3T (“TRACK-TRACE-TREAT”) DATA SERVICE FOR MEDICAL CANNABIS GROWERS September 3, 2020 – The company announced the closing of its months-long integration, and its exclusive licensing agreement, with TraceLocker, thereby marking the final step in the commercial launch of the $5.92m dollar Citizen Green medical cannabis efficacy and data acquisition platform. Press release here: GCAC Announces Commercial Launch of its $5.92m Medical Cannabis Data-Acquisition Platform Second Quarter (fiscal) Highlights to date The start of the second quarter’s saw significant progress as the Company launched its new software offering, closed its first revenue deal and created a business relationship with a leading provider of lab services in Canada. Additionally, the company formalized an insider trading policy pursuant to the issuance of shares to the directors: Brad Moore, Hanan Gelbendorf, and Alexander Helmel. It has been agreed by the directors that they shall participate in an updated insider trading policy. This policy mandates the number of shares that may be sold in any given trading day shall not exceed 10% of the daily total along with other orderly market conditions. See the Company's homepage for the full text of the revised insider trading policy. Highlights include: October 5, 2020 – The company signed a Memorandum of Understanding (“MOU”) with Purity-IQ Incorporated of Canada (“Purity-IQ”) (http://purity-iq.com/) to integrate the Purity-IQ Cannabis Authenticity and Purity Standard (CAPS) and its Fingerprint (TM) technology with the GCAC efficacy platform; with a focus on the Canad...