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4-Traders Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  RightsCorp Inc    RIHT

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RIGHTSCORP, INC. : Other Events (form 8-K)

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09/14/2017 | 02:32pm CEST
Item 8.01 Other Events



As previously reported in Rightscorp, Inc.'s (the "Company") Form 8-K, filed on August 4, 2017, the Company entered into two service agreements (the "Service Agreements") with a holder ("Client") of several copyrights at risk of infringement through peer-to-peer networks. As then reported, the Service Agreements were subject to termination by the Client at any time for any reason on forty-five (45) days prior written notice to the Company. By written notice, dated and received by the Company on September 8, 2017, the Client elected to terminate the Service Agreements. Thus, effective October 23, 2017, the Service Agreements will be of no further force or effect. In terminating the Service Agreements, the Client stated that it believed that the Company's information, data, and services did not sufficiently meet the Client's requirements or sufficiently support its anti-piracy litigation efforts compared to other tools and data available to Client, and that the Client did not believe it had sufficient time or budget available to work with the Company to better meet its needs.

Additionally, effective September 15, 2017, the Company entered into a new Representation Agreement with a copyright holder ("New Client"), pursuant to which the Company will collect data as to infringements of protected copyrights of the New Client and, if applicable, send notices to the Internet Service Providers of infringers of such infringements including, without limitation, DMCA notices and take down letters in the form required by law. The Company will also collect funds from settlements with infringers as a result of these notices. In exchange, the Company will receive 37.5% of net settlement revenues received by the Company through its website, and 50% of net settlement revenues collected by Company call center agents. This new Representation Agreement has an initial term of six (6) months, followed by automatic renewals in monthly increments. This Representation Agreement may be terminated by the New Client at any time for any reason upon thirty (30) days prior written notice to the Company.

© Edgar Online, source Glimpses

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RightsCorp Inc Technical Analysis Chart | RIHT | US76658A1025 | 4-Traders
Managers
NameTitle
Cecil Bond Kyte Chairman, Chief Executive & Financial Officer
Christopher Sabec President & Director
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