Green EnviroTech Holdings Corp. announced that due to various delays in due diligence production that resulted in funding deferments, the company and Petrosonics, LLC have agreed to terminate the initial Joint Venture Agreement, effective as of September 3, 2013, with the understanding that a new Joint Venture Agreement may be entered into at a later date. The parties have also agreed verbally to enter into a termination agreement wherein the company will be reimbursed a portion of the funds raised in exchange for a release of the IP that was assigned in advance to the entity formed for the Joint Venture.
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2021 | Gary M De Laurentiis Removes as Chairman of the Board of Green EnviroTech Holdings Corp | CI |
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- Green Envirotech Holdings Corp. and Petrosonics LLC Agree to Terminate the Initial Joint Venture Agreement