From Nov 22, 2021 10-Q.
Dry Eye Disease Acquisition.
I do not see the 7 million shares listed in the Quarterly amounts. They should show up on the next 10-Q or the yearly report.
Bottom line AXIM burned up
A LOT OF CASH in 2021.
With NO CASHFLOW they have to sell shares or increase their debts just to keep the lights on.
I'm sure the 2 or 3 or 4 full time employees require more than peanut butter and crackers.
ImmunoPass was the meal ticket for this little company. FDA appears to have torn up that ticket.
NOTE 3: ACQUISITION OF INTELLECTUAL PROPERTY 0F ADVANCED TEAR DIAGNOSTIC, LLC.
AXIM entered into two substantially contemporaneous transactions to acquire patents and 510(K) Licenses from Tear Diagnostics, LLC (the ?Seller?) (collectively, the ?Asset Acquisition?) for a total amount of $4,520,000.
The first transaction occurred on July 29, 2021, in which AXIM purchased five patents (the ?Patents?) from the Seller for $250,000 (which includes assuming and paying $30,000 of the Seller?s liabilities). The bulk of the purchase price ($210,000) was in a note that requires seven equal monthly payments of $30,000, which payment started on September 3, 2021.
The second transaction occurred on July 26, 2021, in which AXIM purchased certain eye disease diagnostic technology, which consisted of a 510(K) license for Lactoferrin, a biomarker for dry eye disease and a 510(K) license for IgE, a biomarker for allergic ocular reaction (collectively, the ?510(K) Licenses?). The purchase price for the 510(K) Licenses was $4,270,000, which price was paid by issuing to the Seller 7 million shares of AXIM restricted common stock.
