NON-BINDING MEMORANDUM OF UNDERSTANDINGNon- • January 2nd, 2015 • Zaxis International Inc • Blank checks • New York
This non-binding memorandum of understanding ("MOU") is made and entered into on this 30th day of December, 2014, by and between Zaxis International, Inc., a public corporation incorporated under the laws of the State of Delaware (the "Corporation") and Emerald Medical Applications Ltd., a private limited liability company incorporated under the laws of the State of Israel ("Emerald"). The Corporation and Emerald may also be referred to individually as a "Party" and collectively as the "Parties". WHEREAS, Emerald develops and owns proprietary technologies and methods relating to detection and diagnosis of early-stage Melanoma that may be used in various products and commercial or other uses (the "Technology"); and WHEREAS, in order to further develop the Technology and achieve commercial stages of the technology and any product based on the Technology, Emerald requires additional funding; and WHEREAS, the Corporation is a public corporation traded on the OTC QB market place, free a
