PODA patent given away / inventors sold $ 45 million USDIn consulting the sedar documents I noticed a particular transaction that seems to have occurred in period of November 30, 2021.
Poda assigns patent to inventors (this is to Ryan and partner) for $ 146,583.
The inventors then take this patent along with other patents and sell it for $ 45 million USD.
This assignment was not done at fair value as parties were related.
These patents were worth a fortune to PODA, inventors received $ 45 million USD, a part which should belong to PODA.
Transaction can be reversed within a year I believe of it occcuring.
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Date of Sedar report: November 30, 2021
On April 12, 2019, the Company acquired the rights to additional vaporizer-related intellectual property from the original founders of the Company (the “Inventors”) on the terms and conditions set forth in an amended and restated royalties’ agreement (the “Amended Agreement”). The Inventors and the Company previously entered into a royalties agreement dated April 19, 2015 (the “Original Agreement”), pursuant to which the Company agreed to pay royalties to the Inventors in the amount of 3% of the Company’s gross revenues in relation to the commercialization of certain inventions (the “Original Inventions”). Since that time, the Inventors have developed certain additional vaporizer-related inventions (the “New Inventions”) and in accordance with the terms and conditions of the Amended Agreement, the Company is granted a royalty-bearing exclusive license to commercialize, use, and sublicense the Original Inventions and the New Inventions. In exchange for the additional rights granted to the Company under the Amended Agreement, the Company has assigned the ownership of certain patents back to the Inventors and the royalty payable by the Company has been increased from 3% to 4.5%. The fair value of the patents assigned back to the Inventors was $146,583.
My personal opinion