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| August 14, 2006 - Trading Symbol: ROTB.OB |
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Form 8-K for RotoBlock Corp |
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Item 1.01 Entry into a Material Definitive Agreement
On July 18, 2006, the registrant entered into an Engine Development and License Agreement ("Agreement") with Obvio! Automotoveiculos S.A. , a Brasilian corporation with headquarters in Rio de Janeiro ("Obvio!"). Obvio! is a developer and manufacturer of high-safety and high performance microsports automobiles. Obvio! is in the process of manufacturing two automobile models, the Obvio!828 and the Obvio!012 for which it is considering using the registrant's Oscillating Piston Engine ("OPE").
The Agreement provides for a non-exclusive joint venture for the purpose of developing a new generation of OPE suitable for hybrid vehicle applications. Under the Agreement, the registrant has granted Obvio! with a non-exclusive license for the registrant's OPE technology in consideration of the payment by Obvio! of $5,000,000 which will be payable in $500 installments for each OPE installed or sold. Upon the payment of the full $5,000,000, Obvio! will pay to the registrant a royalty of $100 for each Obvio! vehicle sold with incorporates the OPE technology.
Item 9.01 Financial Statements and Exhibits
Exhibit No. Description
10.1 Engine Development and License Agreement
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About Rotoblock Corporation
Rotoblock is focused on the continued development and
improvement of the Oscillating Piston Engine to the state where
its mechanical, ecological and economic viability leads to the
profitable licensing of the manufacturer's rights to a
proprietary patented design or a partnership for its
manufacture. The company was incorporated in Nevada, is
headquartered in Santa Rosa, California, and has its operating
labs in Vancouver, Canada. The Company has full rights to the
patents of the original Oscillating Piston Engine and believes
the Rotoblock Oscillating Piston Engine has particular and
useful applications in developing countries such as China and
India and will be including these areas in the marketing and
commercialization phase of this engine. Visit Rotoblock's
corporate website for details about the company, technology, and
regulatory filings. The address is:
http://www.rotoblock.com. |
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Safe Harbour For Forward-Looking Statements
Except for statements of historical fact, the information
presented herein constitutes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors include general economic and business
conditions, the ability to acquire and develop specific
projects, the ability to fund operations and changes in consumer
and business consumption habits and other factors over which
Rotoblock Corporation has little or no control.
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Rotoblock
Corporation
Investor Relations
(877) 511-0110 |
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