Annual report pursuant to Section 13 and 15(d)

Alternative Health Products

v3.10.0.1
Alternative Health Products
12 Months Ended
Aug. 31, 2018
Alternative Health Products [Abstract]  
Alternative Health Products
9. Alternative Health Products

 

 

On November 12, 2014, the Company signed an agreement with Poppy’s Teas LLC. (“PoViva”) whereby we acquired 51% of PoViva Tea LLC replacing Poppy’s Teas LLC. The Company acquired 100% 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 August 11, 2015, Lexaria signed a license agreement with PoViva Tea LLC for $10,000, granting Lexaria a 35-year non exclusive worldwide license to unencumbered use of PoViva Tea LLC’s IP Rights, including rights of resale. This license agreement ensures Lexaria has full access to the underlying patent pending infusion Technology and has been updated following the purchase of 100% interest in PoViva.

 

 

 

Patents

  

On December 12, 2017, Lexaria received patent US 9,839,612 B2 from the United States Patent and Trademark Office (“USPTO”) for the use of its technology as a delivery platform for all cannabinoids including THC; fat soluble vitamins; non steroidal anti-inflammatory pain medications (“NSAIDs”); and nicotine.

 

On March 22, 2018 the Company announced it received a new Notice of Allowance from the USPTO providing for “composition of matter” claims that protect the specific combination of substances which enable improved taste and bioabsorption properties of its DehydraTECH™ technology for the delivery of cannabinoids. On May 22, 2018 patent US 9,974,739 B2, “Food and Beverage Compositions Infused With Lipophilic Active Agents and Methods of Use Thereof” was granted.

 

On April 11, 2018 the Company announced it received a new Notice of Allowance from the USPTO providing claims that protect processes for making specific compositions of matter for enhanced cannabinoid delivery utilizing its DehydraTECH™ technology. On May 15, 2018 patent US 9,972,680 B2, “Food and Beverage Compositions Infused With Lipophilic Active Agents and Methods of Use Thereof” was granted.

  

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

5/15/2018

US 9,974,739 B2

5/22/2018

 

 

 

 

 

 

 

A continuity schedule for patents is presented below:

 

 

 

August 31

2018

$

 

 

August 31

2017

$

 

Balance – Beginning

 

 

62,827

 

 

 

53,997

 

Additions

 

 

85,399

 

 

 

9,699

 

Amortization*

 

 

(1,688 )

 

 

(869 )

Balance – Ending

 

 

146,538

 

 

 

62,827

 

 

 

 

 

 

 

 

 

________

* The patents are amortized over their legal life of 20 years.