|
9.
|
Alternative Health Products
|
| |
|
| |
On November 12, 2014, the Company signed an agreement with Poppy’s Teas LLC (“PoViva”) and acquired
51% of ViPova™. On November 2, 2017, Lexaria announced that it acquired a
100% ownership interest in PoViva Tea, LLC, via cash compensation of $70,000, a waiver on certain debts owed to Lexaria, and a
5%,
20
- year royalty on net profits of ViPova Tea
TM
tea, coffee, and hot chocolate sales. No Lexaria stock or options were issued. The
20
-year royalty was determined to have a $Nil
fair value as PoViva operates at a loss and future profitability is uncertain.
|
| |
|
| |
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 (the “Technology”).
|
| Issued Patent # |
Patent
Issuance Date
|
Patent Family |
| 9474725 |
10/25/2016 |
Food and Beverage Compositions Infused With |
| US 9839612 B2 |
12/12/2017 |
Lipophilic Active Agents and Methods of Use Thereof |
The patents are amortized over their legal life of
20
years.
Patents
| |
|
|
February 28 |
|
|
August 31 |
|
| |
|
|
2018 |
|
|
2017 |
|
| |
|
|
$ |
|
|
$ |
|
| |
Balance – Beginning |
|
62,827
|
|
|
53,997
|
|
| |
Additions |
|
32,042
|
|
|
9,699
|
|
| |
Amortization |
|
(528
|
) |
|
(869
|
) |
| |
Balance – Ending |
|
94,341
|
|
|
62,827
|
|
On December 12, 2017, Lexaria received patent US
9839612
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.
|