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Monday, October 05, 2020 6:03:10 PM
PRPH is up 105% since the announcement. It does not take a rocket scientist to figure this one out.
From the 8K;
Item 1.01 Entry into a Material Definitive Agreement.
Consulting Agreement
Predictive Laboratories, (the “Company”) a wholly owned subsidiary of Predictive Technology Group, Inc. (trading under the symbol “PRED”) (Referred to hereinafter as PRED), includes a College of American Pathologists (“CAP”) accredited and Clinical Laboratory Improvement Amendment (“CLIA”) accredited laboratory that provides COVID-19 and other clinical laboratory services. On September 25, 2020 the Company entered into a Consulting Agreement with ProPhase Labs, Inc. (“Prophase Labs”) to assist Prophase Labs in developing additional COVID-19 testing capacity. This relationship does not limit the Company’s ability to provide COVID-19 and other clinical testing services, which are expected to continue without regard to the Consulting Agreement. The Consulting Agreement is effective from September 25, 2020 until September 1, 2022; provided, however, that Prophase Labs may terminate the Consulting Agreement at any time on five days’ prior written notice.
During the term of the Consulting Agreement, the Company will provide Prophase Labs with such regular and customary consulting advice as is reasonably requested by the Prophase Labs. The Company’s duties will also include, among other things, (i) identifying and introducing Prophase Labs to new opportunities in the medical technology and testing fields, (ii) assisting and advising Prophase Labs in acquiring one or more Clinical Laboratory Improvement Amendments (CLIA) accredited labs suitable for COVID-19 and other testing (“Test Labs”); (iii) assisting Prophase Labs in equipping and staffing any Test Labs acquired by the Company; (iv) advising and assisting in the operation of such Test Labs; (v) validating and obtaining certification of such Test Labs; and (vi) assisting Prophase Labs in obtaining a flow of business, orders and revenues from multiple sources in the industry, including but not limited to at least one significant, nation-wide manufacturer and distributor of COVID-19 saliva sample collection test kits (“Test Kits”).
https://www.sec.gov/Archives/edgar/data/1382943/000109181820000209/pred09302020form8k.htm
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