2012-08-14

Onteco Corporation Received $2.9 million Stock under Its First International Licensing Agreement

Onteco Corporation, had received 2,037,948 shares of common stock of a publicly-traded company currently listed on the Frankfurt Stock Exchange. The stock is presently valued at $2.9 million U.S. dollars and is part of the payment due under the terms of the international licensing agreement signed April 30, 2012, with JARLYN S.A., ("JARLYN") a Uruguayan corporation, for Onteco's  proprietary LED intellectual property ("IP"), developed by its subsidiary, NexPhase Lighting, Inc. ("NexPhase"). Under the terms of t...
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