During the third quarter we terminated our Non-Exclusive License and Distribution Agreement (the "HempMeds Agreement") with HempMeds PX, LLC ("HempMeds"). The HempMeds Agreement granted HempMeds a non-exclusive, worldwide license and right to promote, market, sell, distribute and service the Company's products and an exclusive right to online sales. The HempMeds Agreement termination resulted in a significant revenue loss for the Company but provided an opportunity for CannaVest to better control its sales channels, brand awareness and future profitability without having to rely on a single customer relationship. The termination also allowed CannaVest to pursue revenue from online sales.
http://finance.yahoo.com/news/cannavest-corp-reports-third-quarter-183600252.html
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