RE: Who thinks?19 Oct 2020 08:48
Extract from Rns 08 July
Regarding joe media-
Under the terms of the management services contract, which came into effect today, Iconic Labs will be paid a monthly management fee of £50,000 plus external costs, and in addition shall receive 25% of all profits if certain revenue and profit targets are met.
Iconic Labs anticipates this management services contract will contribute a significant amount of revenue to the Company and will enable Iconic Labs to become operationally profitable within three months.
Extract from Rns 14 Oct
the success thus far in managing JOE Media UK, the monthly management fee payable to the Company will be increased from £50,000 to £100,000 with immediate effect. The Company's entitlement to a 25% share of profits remains in place.