other_material
confidence high
sentiment neutral
materiality 0.50
iWallet enters development pact with Trafton for Slim 2025, iClutch, iPassport
iWallet Corp
- iWallet will pay $37,104 in outstanding invoices and issue 1M shares upon delivery of iClutch and iPassport prototypes.
- Estimated design cost for iWallet Slim 2025 is $129,900; iWallet can pay in stock at 2:1 ratio (two shares per dollar of invoice).
- Trafton to develop renderings and prototypes; iClutch delivery by June 23, 2025, iPassport by June 30, 2025.
- iWallet has option to buy back shares issued to Trafton at original invoice face value plus 12% annual interest.
item 1.01item 3.02item 9.01