| Intellectual Property |
| 9. |
Intellectual Property |
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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 $70,000, a waiver on certain debts owed to Lexaria, and a 5%, 20-year royalty on net profits of ViPova TeaTM tea, coffee, and hot chocolate sales. No Lexaria stock or options were issued. On September 18, 2018 Poviva Tea, LLC converted from a Nevada limited liability company to a Nevada corporation and effected a name change to Poviva Corp. |
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The following is a list of US capitalized patents held by the Company |
|
Issued Patent #
|
Patent Issuance Date
|
Patent Family
|
|
US 9,474,725 B1
|
10/25/2016
|
Food and Beverage Compositions Infused With
Lipophilic Active Agents and Methods of Use Thereof
|
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US 9,839,612 B2
|
12/12/2017
|
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US 9,972,680 B2
|
05/15/2018
|
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US 9,974,739 B2
|
05/22/2018
|
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US 10,084,044 B2
|
09/25/2018
|
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US 10,103,225 B2
|
10/16/2018
|
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US 10,381,440
|
08/13/2019
|
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US 10,374,036
|
08/06/2019
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The Company also holds non-capitalized patents outside the US. A continuity schedule for patents is presented below: |
|
|
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August 31
|
|
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August 31
|
|
|
|
|
2019
|
|
|
2018
|
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$
|
|
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$
|
|
|
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.
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