Penny. There is no buyout deal and never was one. There are people who try to put thier own spin on things. Here is from the last 10q and its in all the 10q & 10k and the contract agreement Deal with Biomedix and the main 11/15/2013 agreement with Medisafe which is what Safecode is all about!
(3) Marketable Securities
On November 26, 2012, the Company entered into a share exchange agreement with Biomedix Incubator, an Israeli company and a shareholder of Gefen Biomed Investments, a publicly traded Israeli company. The Company issued 1,082,851 shares to Biomedix Incubator and received in return
921,790 shares of Gefen Biomed Investments. The shares were valued at $194,913 which was the market price of the Company’s shares on the date of the exchange. The investment in Gefen is less than 4.9% of Gefen’s outstanding stock.
As of June 30, 2013 marketable securities were designated as trading securities with an aggregate fair value of $482. The cost basis of these securities was $1,426. For the six months ended June 30, 2013, the unrealized loss presented in the statement of operations was $6,666.
(4) License Agreeement
On November 15, 2012, the Company entered into a license agreement with Medisafe 1 Technologies Corp., a Delaware corporation and a public reporting company engaged in the development of medical technology products. Pursuant to the License Agreement, Safecode, as licensee, has been granted a non – exclusive perpetual license to manufacture, market and otherwise commercially exploit world-wide Medisafe's patented device for administering medicine in correct dosages to the correct patient . The License Agreement provides that as consideration for the license, Safecode will issue to Medisafe ten million shares of its common stock. The stock was valued at the market value of $1,800,000 on the date issued. The License Agreement provides for certain adjustments in the event that Safecode's shares are not equal to $0.70 or greater than that price twelve months after the effective date of the agreement. The Company recorded an impairment expense for the full value of the license.
The part about having the share price to 70 cents are over by 11/15/2013 is what got shareholders to invest in Safecode from the very begining. The Company has never PRed anything concerning a buyout and there is nothing no where in the filings about a buyout. Safecode is also not a Dividen stock and never has been as that one time poster sujected today. All the filings and news can be found by clicking on (DATA TOOLS) up by the favorites and then click on ( News ) OK. GO > SAFECODE
AI
