Rembrand Revenue25 Oct 2025 15:59
Mirriad U.S., the Company and the JV Partner have agreed a net revenue sharing arrangement in respect of the revenue generated by Mirriad U.S. from its existing sell-side media partners in the United States. Following the date of the Omnibus Agreement, net revenue shall be split:
i. Until the first anniversary of the date of completion of the Securities Purchase Agreement ("Closing"), 75% to the JV Partner and 25% to the Company;
ii. From the first anniversary of Closing to the second anniversary of Closing, 80% to the JV Partner and 20% to the Company; and
iii. After the second anniversary of Closing, 90% to the JV Partner and 10% to the Company.
In summary 25% of US revenue in year 1 with no costs, profit straight to the bottom line. Important to under stand quarterly what the sales figures for this JV are and other contracts being achieved.