| Intellectual Property |
| 8. |
Intellectual Property |
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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. |
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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
|
|
US 9,839,612 B2
|
12/12/2017
|
|
US 9,972,680 B2
|
5/15/2018
|
|
US 9,974,739 B2
|
5/22/2018
|
|
US 10,084,044 B2
|
9/25/2018
|
|
US 10,103,225 B2
|
10/16/2018
|
Patents
|
|
|
November 30
2018
$
|
|
|
August 31
2018
$
|
|
|
Balance – Beginning
|
|
|
146,538 |
|
|
|
62,827 |
|
|
Additions
|
|
|
44,368 |
|
|
|
85,399 |
|
|
Amortization*
|
|
|
(982 |
) |
|
|
(1,688 |
) |
|
Balance – Ending
|
|
|
189,924 |
|
|
|
146,538 |
|
____________
* The patents are amortized over their legal life of 20 years.
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