VeriTeQ Corp. (fka VTEQ)

[tob999]

It's not a valuation. It was an offer from Exploration Labs (Motiva) of $10M for exclusive license of VTEQ's patented Q Inside Safety Technology. This offer may still be consumated.

In February of 2015, we entered into a non-binding letter of intent with EL for a proposed transaction, under which EL would pay us an up-front license fee of $1.75 million to secure a royalty stream from future sales of our Q Inside Safety Technol o gy products to breast implant manufacturers other than EL. EL would also receive a 24 month option to purchase the technology and other assets related to the breast implant business for $10 million, less the amount of the up-front license fee.


Although the time period contemplated by the non-binding letter of intent has lapsed, we believe that EL continues to be interested in the proposed transaction and is continuing its efforts to close a predicate funding transaction in order to consummate the transaction with us. We will evaluate the desirability of doing so if and when EL re-presents the offer to us.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10715855