SEC Filing Summary: Probe Manufacturing, Inc. (8-K)
Business Context and Reporting Period
This Form 8-K was filed on November 24, 2014, by Probe Manufacturing, Inc., a Nevada corporation. The report covers events occurring on November 21, 2014. The company is headquartered in Irvine, California, and operates in the manufacturing sector.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses on a material agreement rather than periodic financial performance.
Material Changes and Agreements
On November 21, 2014, the Company entered into an Exclusive OEM and Distribution agreement with S-Ray Incorporated. Key terms include:
- Counterparty: S-Ray Incorporated, a private Nevada corporation.
- Product: ClearView LAB, an ultrasound technology product for dental use.
- Intellectual Property: S-Ray designs and owns the IP rights.
- Role: Probe Manufacturing, Inc. will manufacture and distribute the product on an exclusive worldwide basis.
- Timeline: Revenue from this agreement is targeted to begin in the 1st Quarter of 2015.
Outlook and Risks
Management anticipates revenue generation starting in Q1 2015 contingent upon the execution of the new agreement. The filing references the full agreement (Exhibit 10.1) for detailed terms and conditions. No specific risks or contingencies are detailed in the summary text provided.
Investor Verification Checklist
- Review Exhibit 10.1 for the full terms of the OEM Agreement with S-Ray Incorporated.
- Verify the financial status and operational capability of S-Ray Incorporated as the IP owner.
- Monitor Q1 2015 financial reports for the realization of targeted revenue from the ClearView LAB product.
- Confirm the exclusivity scope and termination clauses within the signed agreement.