Lexington Biosciences Inc. (LXGTF)

[Sabretooth0071]

In case you missed it !!

https://lexingtonbiosciences.com/news/lexington-biosciences-digital-newsletter-v1/



If you have time this is an interesting read,

https://webfiles.thecse.com/Form2AListingStatementLexington.PDF


Although it starts towards the end of 2016 it includes forecasts up to 2021.

Page 22 and page 23 show a proposed schedule to HS being in operation as per the agreement with UC Berkeley Which is slightly different than the info posted on their website. !!!

This is a further proposal in the prospectus and pretty much as page 22 and 23.

Patents The Company is obliged to reimburse Berkeley Lab for all patent costs relating to the Licensed Products in the future as well as US$42,200 of patent costs incurred by Berkeley Lab prior to the Effective Date (the “Past Patent Costs”). As at September 30, 2016 the Company had paid US$21,100 of the Past Patents Costs with the remaining US$21,100 coming due on December 11, 2016. This amount was accrued in accounts payable and accrued liabilities on September 30, 2016 (see Note 4) and has subsequently been paid.
Performance Requirements Under the terms of the Agreement, the Company is contracted to achieve the following performance requirements:
· Raise a minimum of $1.25 million for further development of the Licensed Product by February 11, 2017.

· Complete an intellectual property evaluation of the of the Licensed Product and engage a FDA consulting firm to assist in the approval process of the Licensed Product by March 11, 2017.

· Complete a prototype construction of the Licensed Product by December 11, 2017.
· Complete clinical testing of the Licensed Product by June 11, 2018.
· Submit applications to the FDA for the necessary approvals required to market the Licensed Product by June 11, 2019.

· Begin marketing the Licensed Product by June 11, 2020.

· Commence selling the Licensed Product by December 11, 2020.

The Company and Berkeley Lab by mutual consent may amend or extend these performance requirements at the written request of the Company in response to legitimate business reasons.


Have a great day everyone….