…the Licensee will assume Business Warrior’s current customers and pay Business Warrior a license fee equal to Business Warriors employee and technology costs plus 30% of the Licensee’s Net Margin…

Under the terms of the Agreement, the Licensee will assume Business Warrior’s current customers and pay Business Warrior a license fee equal to Business Warriors employee and technology costs plus 30% of the Licensee’s Net Margin derived from the Licensed Products each month. Business Warrior also received an initial fee of $200,000.

The Company is working on and unable to compile the necessary financial information required to prepare a complete filing. Thus, the Company would be unable to file the annual report in a timely manner without unreasonable effort or expense. The Company expects to file within the extension period.

Oncotelic Therapeutics Announces Successful Completion of Phase 1 Trial of OT-101 and IL-2, Highlights Findings at SWCR 2025 Conference

09:00 AM EDT, March 25, 2025

AGOURA HILLS, Calif., March 25, 2025 (GLOBE NEWSWIRE) -- Oncotelic Therapeutics, Inc (OTCQB:OTLC) ("Oncotelic", the "Company" or "We" or “Our”), ”), a leader in RNA-based therapeutics, announced today the successful completion of a Phase 1 clinical trial evaluating OT-101, in combination with IL-2 for advanced or metastatic solid tumors. These results set the stage for new studies that combine OT-101,an antisense therapeutic targeting Transforming Growth Factor Beta 2 (TGFß2), with checkpoint inhibitors (“CKIs”) and recombinant IL-2 (aldesleukin) (“IL-2”).

Oncotelic Accesses Rapid IND Development Platform through Partnership with Medicilon
Press Release | 02/25/2025

AGOURA HILLS, Calif., Feb. 25, 2025 (GLOBE NEWSWIRE) -- Oncotelic Therapeutics, Inc. (OTCQB:OTLC). Oncotelic Therapeutics Inc., a leader in RNA-based therapeutics, including its subsidiaries (“Oncotelic”) and including Sapu Bioscience, LLC (“SAPU”), a wholly owned subsidiary of GMP Biotechnology Limited in which Oncotelic is a 45% owner, is pleased to announce a strategic partnership with Shanghai Medicilon Inc. (“Medicilon”) (stock code: 688202.SH). Through this collaboration, Oncotelic and SAPU will utilize Medicilon’s industry-leading rapid IND development platform to support up to 20 Investigational New Drug (IND) projects. Six of these INDs are ongoing and are focused on next-generation anticancer agents.

Oncotelic and SAPU's partnership with Medicilon is poised to significantly accelerate the development of our innovative oncology pipeline. This collaboration reflects our strategic move to strengthen our position as a leader in novel cancer therapies.

Enabling Rapid Growth: Medicilon’s integrated platform for drug discovery, pharmaceutical research, and preclinical development will expedite the regulatory pathways for Oncotelic’s and SAPU’s upcoming IND submissions.

Portfolio Expansion: This initiative will initially focus on the current six INDs but has the potential to extend up to 20 projects, reflecting the depth of Oncotelic’s and its affiliates’ R&D programs.

Dr. Vuong Trieu, Chairman and CEO of Oncotelic and SAPU, stated, “This partnership is poised to be a game-changer for our development programs. The ability to access a rapid IND-enabling platform is crucial for accelerating SAPU’s and Oncotelic’s development programs. We look forward to continued success working with Medicilon as we advance innovative anticancer agents to the clinic.”

Dr. Chen Chunlin, Founder and CEO of Medicilon, remarked, “We are excited to partner with Oncotelic and SAPU and contribute our international experience in drug R&D. We are a comprehensive, one-stop services organization, from early discovery to IND registration, built to accelerate the translation of Oncotelic and SAPU’s pipeline into new therapeutic options for patients.”

Visa tried to buy Plaid for $5.3 billion in 2020. It was very excited about the prospect of acquiring Plaid because it would enhance its growth by improving its fintech capabilities. However, the U.S. Justice Department blocked that deal on anticompetitive concerns.

We’re only a few months into the year, and PayPlan is rolling!

Just a snapshot of progress thus far
• Welcomed 3 new lenders this week
• Launched our Plaid integration
• Processing billions of data decisions per month
• Introducing new, results-driven features to help lenders profit more – Every feature we build is designed with one goal in mind: increasing lender profitability.
• Expanding our automated borrower engagement tools – From 1:1 communication to intelligent marketing automation, PayPlan is giving lenders the ability to connect with borrowers at the right time to drive higher conversions.

It’s been an incredible start to the year, but we’re just getting started. Thanks for all of the hard work - Jason Doolittle Nathan Rea Chris Noble Miriam Madava Samantha Alvarez Daniel Pena Walter Alvarado Jahangir Abdullayev Edward Rado and our full team who remain committed to making lenders successful!

Item 1.01 Entry into a Material Definitive Agreement.

On February 14, 2025, Business Warrior Corporation (“Business Warrior” or the “Company”) entered into an Exclusive License Agreement (the “Agreement”) with an Exclusive Licensee. (the “Licensee”), pursuant to which Business Warrior granted the Licensee the exclusive right to market, sell, and distribute the Company’s proprietary financial technology platform, PayPlan, along with associated marketing services and legacy software, within the United States.

Under the terms of the Agreement, the Licensee will assume Business Warrior’s current customers and pay Business Warrior a license fee equal to Business Warriors employee and technology costs plus 30% of the Licensee’s Net Margin derived from the Licensed Products each month. Business Warrior also received an initial fee of $200,000. The Agreement is for an initial term of twelve (12) months, with automatic renewal for up to two additional twelve-month terms unless either party provides at least sixty (60) days' notice of termination. Additionally, the Licensee has a right of first refusal for licensing opportunities outside of the United States.

This agreement will allow the Company to focus on growing revenues by scaling its PayPlan product, getting current with its financial reporting with the SEC, and achieving compliance with SEC Rule 15c2-11 to facilitate the resumption of public quotations of its securities.

Business Warrior retains ownership of all intellectual property associated with PayPlan and related products. The Agreement allows the Licensee to sublicense the Licensed Products on a Software-as-a-Service (SaaS) basis. Furthermore, the Agreement includes provisions regarding confidentiality, compliance, financial reporting, and a buyback option whereby Business Warrior may repurchase the license after six months under specified conditions.

Business Insider, Jan. 10, 2025, 03:36 PM
...Additionally, a financing round was completed with a $125,000 convertible promissory note from an institutional investor.

Merger Agreement with Business Warrior: On July 28, 2024, IPSI entered into a merger agreement with Business Warrior, which will result in Business Warrior becoming a wholly-owned subsidiary of IPSI. The merger is expected to close within seven to nine months, subject to regulatory and shareholder approvals.

Future Outlook: Looking ahead, the company plans to continue its strategic focus on developing its IPSIPay Express joint venture and completing the merger with Business Warrior. The company aims to enhance its digital payment solutions and expand its market presence in the fintech sector. The company also intends to manage its capital efficiently by raising additional funds through equity sales and borrowing, while reducing its debt burden. The successful execution of these strategic initiatives and capital management activities is expected to position the company for sustainable growth and improved financial stability.

Merger Agreement with Business Warrior: The merger is subject to significant risks and uncertainties, including the need for shareholder approvals and the exchange of convertible promissory notes for preferred stock. The terms of this exchange and the preferred stock remain subject to negotiation and approval, posing a risk to the consummation of the merger.

Liquidity and Capital Resources: The company has an accumulated deficit of $61.5 million and incurred negative cash flow from operations of $0.5 million for the nine months ended September 30, 2024. The primary focus is on the IPSIPay Express joint venture, which has not yet generated revenue. The company also expects to generate revenue from Business Warrior’s product offerings following the merger, if consummated. At September 30, 2024, the company had cash of $1,033 and a working capital deficit of $10.3 million, including a derivative liability of $1.6 million. The company will need to raise significant additional funds to progress its business and complete the merger, which may result in significant dilution to stockholders.

Merger Agreement with Business Warrior: On July 28, 2024, IPSI entered into a merger agreement with Business Warrior, which will result in Business Warrior becoming a wholly-owned subsidiary of IPSI. The merger is expected to close within seven to nine months, subject to regulatory and shareholder approvals.

Future Outlook: Looking ahead, the company plans to continue its strategic focus on developing its IPSIPay Express joint venture and completing the merger with Business Warrior. The company aims to enhance its digital payment solutions and expand its market presence in the fintech sector. The company also intends to manage its capital efficiently by raising additional funds through equity sales and borrowing, while reducing its debt burden. The successful execution of these strategic initiatives and capital management activities is expected to position the company for sustainable growth and improved financial stability.

Merger Agreement with Business Warrior: The merger is subject to significant risks and uncertainties, including the need for shareholder approvals and the exchange of convertible promissory notes for preferred stock. The terms of this exchange and the preferred stock remain subject to negotiation and approval, posing a risk to the consummation of the merger.

Liquidity and Capital Resources: The company has an accumulated deficit of $61.5 million and incurred negative cash flow from operations of $0.5 million for the nine months ended September 30, 2024. The primary focus is on the IPSIPay Express joint venture, which has not yet generated revenue. The company also expects to generate revenue from Business Warrior’s product offerings following the merger, if consummated. At September 30, 2024, the company had cash of $1,033 and a working capital deficit of $10.3 million, including a derivative liability of $1.6 million. The company will need to raise significant additional funds to progress its business and complete the merger, which may result in significant dilution to stockholders.