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 Hot Stock to Watch |
Company: Fresh Start Private Management Inc. (OTCQB: CEYY) |
Last:
Price: 0.13
Change (%): + 0.032 (32.65)
Volume: 276,175 |
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Fresh Start Private Management, Inc. Update on Progress of Connecticut Licensing Agreement
LOS ANGELES, CA-(Marketwired - Nov 8, 2013) - Fresh Start Private Management Inc. (OTCQB: CEYY), a leader in alcohol treatment and rehabilitation programs, announced yesterday that it had entered into a letter of intent to sell the exclusive license and distribution rights of its alcohol treatment program to JPL, LLC. Under the terms of the pending agreement, JPL, LLC will agree to pay Fresh Start Private an upfront licensing fee and running royalties on all program sales in the state of Connecticut.
Fresh Start Private is reporting that JPL has begun clinic location scouting and has placed a substantial good faith deposit towards the upfront license fee. Both the total amount of the upfront licensing fee, and the running royalty amount have been agreed to by both parties. Final due diligence and contract completion are now underway.
“This deal is moving along really quickly and we hope to get it completed before the holidays,” said Kent Emry, CEO of Fresh Start Private Management, Inc. “In the last month, we have been fielding many inquiries from interested parties who desire licensing deals in specific territories of their respective interest. It’s a great position to be in as it validates our mission and it helps us with our plan for broad distribution in the U.S. and abroad so that more families can be helped with their battle against alcoholism.”
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