Quarterly report pursuant to Section 13 or 15(d)

PRODUCT LICENSE

v3.2.0.727
PRODUCT LICENSE
6 Months Ended
May. 31, 2015
Notes to Financial Statements  
PRODUCT LICENSE

Effective May 23, 2014, the Company licenses certain intellectual property, know how, product and capability from Smith and Ramsay, LLC, a Nevada company. Currently the Company is paying a minimum per bottle licensing fee of $4,500 per month for the perpetual licensing rights, recipes, industry advice, brand and company names, etc., against a royalty stream for twelve months with a 4% royalty fee of gross revenue thereafter in perpetuity. The required per month licensing fee of $4,500 expired in May 2015. This license also provides in perpetuity the first right of refusal of any new products or flavors developed by Smith and Ramsay, LLC.