| Intellectual Property |
9. Intellectual Property
The following is a list of US capitalized patents held by the Company
Issued Patent # |
Patent Issuance Date |
Patent Family |
US 9,474,725 B1 |
10/25/2016 |
Food and Beverage Compositions Infused With
Lipophilic Active Agents and Methods of Use Thereof
|
US 9,839,612 B2 |
12/12/2017 |
US 9,972,680 B2 |
05/15/2018 |
US 9,974,739 B2 |
05/22/2018 |
US 10,084,044 B2 |
09/25/2018 |
US 10,103,225 B2 |
10/16/2018 |
US 10,381,440 |
08/13/2019 |
US 10,374,036 |
08/06/2019 |
The Company also holds non-capitalized patents outside the US. A continuity schedule for capitalized patents is presented below:
|
|
February 29 |
|
|
August 31 |
|
|
|
2020 |
|
|
2019 |
|
|
|
$ |
|
|
$ |
|
Balance – beginning |
|
|
265,127 |
|
|
|
146,538 |
|
Addition |
|
|
5,711 |
|
|
|
122,982 |
|
Amortization* |
|
|
(2,843 |
) |
|
|
(4,393 |
) |
Balance – ending |
|
|
267,995 |
|
|
|
265,127 |
|
*The patents are amortized over their legal life of 20 years. |
|
|
|
|
|
|
|
|
|
| |
|
| 9. |
Intellectual Property |
|
|
| |
On November 12, 2014, the Company signed an agreement with Poppy’s Teas LLC. whereby it acquired a 51% interest. Subsequent to signing the agreement, Poppy’s Teas LLC effected a name change to PoViva Tea LLC. The Company acquired the remaining 49% ownership interest in PoViva Tea, LLC in October 2017 via compensation of $70,000, a waiver on certain debts owed to Lexaria, and a 5%, 20-year royalty on net profits of ViPova TeaTM tea, coffee, and hot chocolate sales. No Lexaria stock or options were issued. On September 18, 2018 Poviva Tea, LLC converted from a Nevada limited liability company to a Nevada corporation and effected a name change to Poviva Corp. |
|
|
| |
The following is a list of US capitalized patents held by the Company |
Issued Patent # |
Patent Issuance Date |
Patent Family |
US 9,474,725 B1 |
10/25/2016 |
Food and Beverage Compositions Infused With
Lipophilic Active Agents and Methods of Use Thereof
|
US 9,839,612 B2 |
12/12/2017 |
US 9,972,680 B2 |
05/15/2018 |
US 9,974,739 B2 |
05/22/2018 |
US 10,084,044 B2 |
09/25/2018 |
US 10,103,225 B2 |
10/16/2018 |
US 10,381,440 |
08/13/2019 |
US 10,374,036 |
08/06/2019 |
| |
The Company also holds non-capitalized patents outside the US. A continuity schedule for patents is presented below: |
|
|
August 31 |
|
|
August 31 |
|
|
|
2019 |
|
|
2018 |
|
|
|
$ |
|
|
$ |
|
Balance – Beginning |
|
|
146,538 |
|
|
|
62,827 |
|
Addition |
|
|
122,982 |
|
|
|
85,399 |
|
Amortization* |
|
|
(4,393 |
) |
|
|
(1,688 |
) |
Balance – Ending |
|
|
265,127 |
|
|
|
146,538 |
|
* The patents are amortized over their legal life of 20 years. |
|