Item 8.01. Results of Operations and Financial Condition.
Entry into Memorandum of Understanding with
(i) Under a services agreement between the Company's Orbis Education subsidiary and Valpo, Orbis Education would assist Valpo in establishing and managing hybrid (online and ground-based) nursing and related healthcare programs of Valpo at two sites located in the Midwest United States. The terms of this agreement would be generally consistent with those that have been entered into with Orbis Education's other 25 university partners.
(ii) Under a separate services agreement between the Company and Valpo, the Company would assist Valpo in creating and managing certain online graduate programs (the "Graduate Programs"). The key terms of this agreement, including the term and fees, remain to be negotiated.
The MOU is non-binding, the obligations of the parties to effect a relationship based on the terms described above are subject in all respects to the negotiation, execution, and delivery of mutually acceptable definitive agreements, and no assurance can be given that such agreements will be entered into.
Item 9.01. Exhibits. (d) Exhibits Exhibit No. Description 104 Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101) 2
© Edgar Online, source