GBB has a patented formula that accelerates the process of converting alcohol to sugar in the body. By enhancing the metabolic pathways that facilitate this process, the formula can help the body clear alcohol much faster than normal. The Company has been working on a proprietary drink for several years using its patented formula.
FSD Pharma entered into a binding Non-Disclosure Agreement (NDA) with GBB. The companies had ongoing discussions about an acquisition for many months that GBB has since terminated.
Mr. John Gulyas, Co-Founder of GBB Drink Lab, met with FSD and its principals over many months and shared proprietary information with the company that included without limitation, information created and developed by the company relating to composition, formulation, and methods of using the composition and formulations for reducing the effects associated with alcohol consumption in drink and other edible and nonedible forms.
Per the cease and desist letter sent to FSD, "Not only has FSD and its principals committed fraud by way of wrongfully inducing GBB Drink Lab into providing the Product and other confidential information, but FSD and its principals have also committed multiple breaches of the Agreement, including, but not limited to: (i) reverse-engineering the Product and/or other confidential information provided, in violation of Section 3 of the Agreement; and/or (ii) wrongfully asserting dominion over the Product and/or other confidential information (and all intellectual property rights pertaining thereto) by using such information to launch FSD’s recently announced Program”.