2B1 contract

Received the following e-mail from Garth Epling who is the Mateel Board VP:

Hi Eric,

Please feel free to post this on the Blog.

I think it’s time the community fully understand what Boots has offered the Mateel.

1. 300k up front licensing fee. (If Reggae is allowed to happen)
2. 50-50 Split of net profits. (Boots gets the first 300k of net. Mateel has no risk)
3. Complete open books.

Thanks,

-Garth

Unfortunately, we don’t know what People Productions was offering because the December mediation was apparently as confidential as this week’s with Tom Dimmick. I do remember that PP and the Mateel discussed waiving confidentiality with regard to their offers. It would be helpful for comparison.