$BICB On July 27, 2014,BioCube, Inc. (the "Company"
entered into an Asset Purchase Agreement with Innovative Holdings, Inc., a New Jersey corporation ("Innovative", whereby the Company agreed to purchase from Innovative certain assets in exchange for 2,000,000 restricted common shares of the Company and a convertible promissory note in the amount of $25,000 (the "Agreement". The specific assets related to mobile applications for patients of medical marijuana facilities in Canada and the United States, as follows:
Two (2) separate mobile applications for providing medical marijuana patients in legal states within the United States, and through out Canada to locate nearby doctors, dispensaries and rate and review strains with a touch of your finger. The US based app also provides state-by-state current legislation, how to qualify for a medical marijuana 10 card and how a patient can take action by contacting their local advocacy group to get involved;
All franchises, licenses, permits, consents, authorizations, approvals, and certificates of authority of any administrative or regulatory body found in Innovative's name;
All proprietary rights, proprietary knowledge, know-how, designs, processes, trademarks and copyrights which Innovative owns or has a right to use in the operation of its business and all filings, registrations or issuances of any the foregoing with or by any federal, state, local or foreign regulatory, administrative or governmental office in connection therewith; and all other contracts, and other agreements, contract rights, purchase orders, policies and understandings, whether oral or written, to which the Innovative is a party, and used in conducting the business and operations of the Innovative.
Per the terms of the Agreement, the Company did not assume any of the debts and/or liabilities of Innovative attached to the Assets. Based upon the quoted market price at the time of the execution of the Agreement, the aggregate purchase price is approximately $45,000.00. As a result of the Agreement, the Company owns informational software through mobile applications.
Although the purchased Assets do provide real data on medical marijuana, the applications in no way, in no capacity facilitate any sale or trafficking of medical or recreational marijuana.
entered into an Asset Purchase Agreement with Innovative Holdings, Inc., a New Jersey corporation ("Innovative", whereby the Company agreed to purchase from Innovative certain assets in exchange for 2,000,000 restricted common shares of the Company and a convertible promissory note in the amount of $25,000 (the "Agreement". The specific assets related to mobile applications for patients of medical marijuana facilities in Canada and the United States, as follows: Two (2) separate mobile applications for providing medical marijuana patients in legal states within the United States, and through out Canada to locate nearby doctors, dispensaries and rate and review strains with a touch of your finger. The US based app also provides state-by-state current legislation, how to qualify for a medical marijuana 10 card and how a patient can take action by contacting their local advocacy group to get involved;
All franchises, licenses, permits, consents, authorizations, approvals, and certificates of authority of any administrative or regulatory body found in Innovative's name;
All proprietary rights, proprietary knowledge, know-how, designs, processes, trademarks and copyrights which Innovative owns or has a right to use in the operation of its business and all filings, registrations or issuances of any the foregoing with or by any federal, state, local or foreign regulatory, administrative or governmental office in connection therewith; and all other contracts, and other agreements, contract rights, purchase orders, policies and understandings, whether oral or written, to which the Innovative is a party, and used in conducting the business and operations of the Innovative.
Per the terms of the Agreement, the Company did not assume any of the debts and/or liabilities of Innovative attached to the Assets. Based upon the quoted market price at the time of the execution of the Agreement, the aggregate purchase price is approximately $45,000.00. As a result of the Agreement, the Company owns informational software through mobile applications.
Although the purchased Assets do provide real data on medical marijuana, the applications in no way, in no capacity facilitate any sale or trafficking of medical or recreational marijuana.
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