Description
months, we plan to focus on building our client base in North and South America, and Philtex has agreed through the Marketing Agreement to allow us to outsource work through it, for additional fees to be paid on a sale by sale basis, during that time. Additionally, Philtex has agreed to perform the majority of the administrative duties on our ship registry services, until such time as we are able to handle our own registration processing, which we anticipate being in the 4th quarter of 2007 or the 1st quarter of 2008. Until such time as we are able to perform registration services on an independent basis apart from Philtex, we will rely on Philtex to perform such...
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