Enzolytics Inc (ENZC)

[foxi]

Can confirm all the revenue should be going to ENZC, based on the PR's and disclosures I've seen. Afaik they'd account for the revenue on the ENZC books even if they manage operations through a subsidiary.

I wonder if the confusion comes from the recent disclosure that quoted the following:

All outstanding debt of the Company flowed to its subsidiary, now known as Robustomed, Inc. This means there are no outstanding convertible debt pieces of ENZC common equity, and that has been the case since November 30, 2020.
https://www.otcmarkets.com/otcapi/company/financial-report/323613/content

That's a totally different thing than IPF Immune revenue.


The only 50/50 split I'm aware of was for an ITV-1 licensing deal in India, Pakistan, and certain African and middle eastern countries. That's a different product and different market than IPF Immune.

On May 12, 2021, the Company granted a distributorship license to a European pharma entity giving it the right to distribute the Company's anti-HIV-1 therapeutic ITV-1 in the countries of India, Pakistan, UAE, Indonesia, Philippines, Nigeria, Benin and Togo, Kenya, Tanzania, Rwanda, Libya, Uganda, North Sudan, Egypt, Morocco, and Tunisia. The Licensing Entity is the owner of a pharmaceutical plant in Eastern Europe. Pursuant to the Agreement, Enzolytics will receive $1 Million USD and 50% ownership in the Licensing Entity valued at $8 Million. The License is granted with a commitment by the Licensee to sale and distribute the ITV-1 therapeutic in the Licensed Territory. In addition, the Licensing Entity has invested $2 Million USD in the Company in exchange for Company Preferred Series E stock bringing to the Company $3 Million in cash plus a 50% ownership in the Licensing Entity. This agreement will result in establishing a committed partner for sale and distribution of the Company's ITV-1 therapeutic in the Licensed Territory as well as 50% ownership in Licensee and its profit derived from sales in the Licensed Territory.

Page 13 of the 2021 Annual Disclosure https://www.otcmarkets.com/otcapi/company/financial-report/325767/content