Plandai Biotechnology Inc (PLPL)

[KrakenTaken]

I have plenty of owc I bought that at .03 last October .. I took a position here after reading the fillings of a premier luxury cannabis company Diego Pellicer they mentioned that they leased IP to PLPL for warrants up to .50 so lets see where we go



Note 4 – Investment
 
In January 2014, the Company entered into an agreement with Plandai Biotechnology, Inc. (a publicly traded company) to license to them certain intellectual property rights in exchange for warrants to purchase 1,666,667 shares of Plandai Biotechnology, Inc. common stock. This licensing agreement carries a 10-year term with an exercise price of $0.01 per share. The Company was to obtain certain trademark rights certified by the government. The warrant has a restriction on them requiring that the sale of such shares must reach a certain traded price of $0.50 per share. In 2014, the Company used a third-party appraisal firm to ascertain the fair value of warrants held by the Company, which was determined to be $525,567 at the date of issuance. During the year ended December 31, 2016, the Company recorded an impairment loss of $73,334. The Company recorded an additional impairment loss for the nine months ended September 30, 2017 of $43,333.