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Interactive Systems Worldwide signed with Shantech
 February 18, 2009, 10:00 am (2 years ago)The administration at US gambling software company Interactive Systems Worldwide Incorporated (ISWI) was in excitement this week as it revealed the contracting of a letter of intent with Shantech Incorporated that is a first round move toward a major non-exclusive marketing and business expansion agreement.
Shantech is going to market ISWI's products globally with an accent on selected Asian gaming markets in terms of the agreement, and additionally is going to invest $2 million in ISWI in return for 20 % of common stock up to 2.4 million shares. Shantech can get 50 % warrant coverage as well for 5 years.
Shantech's marketing and business expansion services are going to be rewarded by commission fees according to the incomes produced by its achievements. There are also inducement bonuses in ISWI equity, conditional on shareholder agreement, for accomplishing certain objectives such as producing no less than 10 million dollars in incomes with no less than 25 % in net profits throughout the 1st year or producing $30 million with 25 % income throughout the 1st 24 months.
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