Enzolytics Inc (ENZC)

[foxi]

I think their agreement is for ITV-1, not IPF. If I'm reading correctly, Enzolytics shares 50% ownership of the parent pharma company (which one?) that owns "a pharmaceutical plant in Eastern Europe", and Enzolytics shares 50% profit from ITV-1 sales in the licensed territory.

Looks like they're not sharing profit from all products sold by that pharma company. Just ITV-1. Since ITV-1 is not for sale in the licensed territory, Enzolytics wouldn't be reporting revenue from this agreement currently.

Issuance of Distributorship for India and multiple Eastern European Countries. 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 Annual Report - Amended Annual Disclosure Statement 2021)

This looks to be different from the deal with International Medical Partners Ltd, described here:

As part of the agreement whereby ENZC became 50% owner of the Bulgarian Entity in a joint venture, International Medical Partners, LLC (IMPL) the Company issued 2,000,000 shares of Series B Preferred Stock relating to the investment in IMPL for $800,000 and granted a distributorship for ITV-1 in exchange for which IMPL shall fund certain costs for ITV-1 European Medical Agency permitting of ITV-1. The agreement was signed March 16, 2021. The shares of Series B were issued on August 11, 2021. The territories covered by the distribution agreement are Russia, Georgia, Ukraine, Moldova, Belarus, Armenia, Azerbaijan, Kazakhstan, Uzbekistan, Turkmenistan, Kyrgyzstan, Tajikistan, Estonia, Latvia and Lithuania. (Page 18 of Annual Report - AMENDED FINANCIALS AND FOOTNOTES DECEMBER 31, 2021)

Which would imply the list at the end of Timing's post is missing at least one entity. OR the entity is IMPL for both agreements.

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