On February 23, 2024, Recruiter.com Group, Inc. (the Company) entered a Technology License and Commercialization Agreement with GoLogiq, Inc. (the "GOLQ Licensing Agreement"). Under the GOLQ Licensing Agreement, GoLogiq grants the Company a worldwide, exclusive license to develop its fintech technology and sell products derived thereof, including its Createapp, Paylogiq, Gologiq, and Radix AI technology and products, for a term of 10 years, with automatic two (2) year renewals. The GOLQ Licensing Agreement supersedes and replaces the original agreements entered into with GoLogiq last year.
The compensation for the license includes the issuance of 19.99% of the Company's outstanding stock and an 8% fee on sales of the products.