Bionovate Technologies Corp. (BIIO)

[Werbe]

Couple things my man. Terms are 10k as CONSIDERATION and payment of 1% of all royalties. Thats an investment that could mean huge over the years. Also, where they acquired this patent. Company and patent out of Israel.

Effective February 19, 2018, we entered into a Patent Purchase and License Agreement with Ramot at Tel-Aviv University Ltd. wherein we agreed to purchase the rights to U.S. Patent No. 6,858,007 “Method and system for automatic classification and quantitative evaluation of adnexal masses based on a cross-sectional or projectional images of the adnexs” (the “Ramot Patent”). We paid $10,000 as consideration for the Ramot Patent and agreed to pay royalties of one percent (1%) of the net sales of all products sold by our company that are derived from the invention covered by the Ramot Patent, such royalties to be paid quarterly in January, April, July and October from sales incurred in the previous calendar quarter.