thanks for posting this Sierra.
Having read the discussion my 2c is, as Mits noted from the CEO, it is a "sale of the patents issued in the EU, Hong Kong, and the Peoples Republic of China for their unique and exclusively licensed petri plate packaging system known as the FlatPack."
So the restrictions re the sales of patents:
such sales are limited to the flat pack.
NNLX-"being mostly until now a R+D company",as PR says,has substantially completed the development of the flat pack-with independent testing showing a minimum shelf life of two years without refrigeration,and internal testing up to 4 years,both of which blow away the competitions 3 month shelf life (with required refrigeration for those competing products). So the flat pack product is ready for monetization in certain outside areas as follows.
The PR also noted at east one other restriction- a restriction which could be argued more closely resembles a license. That is,the right [of those outside companies] to sell the flat pack product will be limited to the geographical theaters noted by the PR- ''EU, Hong Kong, and the Peoples Republic of China for their unique and exclusively licensed petri plate packaging system known as the FlatPack''
So although it is a sale - the right to sell those flat packs will be limited to those geographical areas -no doubt with clauses prohibiting the buyers from competing in the territory NNLX has carved out as its home base re the flat pack :"the US, the UK, and South Africa".
RE the other issue,the wording implies the funding for the EXISTING N-Assay configuration- which has been in development for some time, with negotiations and a customization process already well advanced,has either been achieved or will be achieved via non diluting methods the company has already noted in previous PR's.
This is inferred from the wording, "ADDITIONAL 30+ types of the N-Assay..." [emphasis mine] as well as other products.
"The proceeds from the sales are to be used to expand NanoLogix petri plate production in North America, development of an additional 30+ types of the N-Assay modified ELISA Rapid bacteria detection & identification kits, and other new biotechnology development..."
In a biotechnology company you have at least three different types of specialists-scientists,businessmen (though some startups dont really have businessmen yet-and I've been told by some thats the case w NNLX),and lawyers. Former board member Gwen was both a scientist w Ph.D(s) and a very specialized type of attorney -a patent attorney.
Humans already have chosen built in barricades to cross fertilization/communication with others.
That problem has been greatly exacerbated by the runaway specialization that is assumed to be highly correlated with modernization.
Meaning very few people can intuitively operate in more than one of these areas of specialization -and society usually does not reward those who can,due to the overwhelming embrace of specialization.
Huge corporations escape this problem by simply hiring specialists in several disciplines and paying them fat salaries.
NNLX is not yet in a position to do so.
In fact, many big corporations Presidents are only good with a big picture macro economic environment and are not good at operations. So those companies often hire a COO to run the company on a day to day basis. I've de facto been told that thats what NNLX needs -a COO. But NNLX does not yet feel its in a financial position to hire for such a position. This can also be inferred due to NNLX apparently not continuing the VP of sales position created a couple years ago.
So until you have the luxury of affording it,you concentrate on what you are good at doing and handoff items you either arent able to do or cant presently afford to do.
NNLX has valuable products but as many have noted, like all startups, NNLX has to confront the tremendous inertia /blocking tactics of big pharma/big corporations. It is difficult enough to do that in NNLX chosen base of operations (USA,UK, S Africa implied by PR),let alone literally worldwide operations. So the decision is made to monetize the flat pack technology in certain geographical areas which NNLX has determined it cannot realistically do in the foreseeable future itself.
And use such funds to more efficiently move the company forward with its 30 different types of N'Assay configurations alone, plus NNLX's other technologies.
The wisdom of doing so of course can only be completely understood by those on the inside,both due to information they have that we do not have,and their experience in confronting the blockades that new technologies can present,breaking down the doors of present business relationships large corporations have w suppliers.
By selling the flat pack patent in prescribed geographical areas NNLX can pass that burden onto huge corporations which are both able to handle that burden and for whom that burden will not be as great because those large corporations can utilize the business relationships they have already created.
So both NNLX and the buyers benefit from their respective specializations.And thats what makes the proposed contract doable and beneficial to all parties,as well as creating value in the contract.
Having read the discussion my 2c is, as Mits noted from the CEO, it is a "sale of the patents issued in the EU, Hong Kong, and the Peoples Republic of China for their unique and exclusively licensed petri plate packaging system known as the FlatPack."
So the restrictions re the sales of patents:
such sales are limited to the flat pack.
NNLX-"being mostly until now a R+D company",as PR says,has substantially completed the development of the flat pack-with independent testing showing a minimum shelf life of two years without refrigeration,and internal testing up to 4 years,both of which blow away the competitions 3 month shelf life (with required refrigeration for those competing products). So the flat pack product is ready for monetization in certain outside areas as follows.
The PR also noted at east one other restriction- a restriction which could be argued more closely resembles a license. That is,the right [of those outside companies] to sell the flat pack product will be limited to the geographical theaters noted by the PR- ''EU, Hong Kong, and the Peoples Republic of China for their unique and exclusively licensed petri plate packaging system known as the FlatPack''
So although it is a sale - the right to sell those flat packs will be limited to those geographical areas -no doubt with clauses prohibiting the buyers from competing in the territory NNLX has carved out as its home base re the flat pack :"the US, the UK, and South Africa".
RE the other issue,the wording implies the funding for the EXISTING N-Assay configuration- which has been in development for some time, with negotiations and a customization process already well advanced,has either been achieved or will be achieved via non diluting methods the company has already noted in previous PR's.
This is inferred from the wording, "ADDITIONAL 30+ types of the N-Assay..." [emphasis mine] as well as other products.
"The proceeds from the sales are to be used to expand NanoLogix petri plate production in North America, development of an additional 30+ types of the N-Assay modified ELISA Rapid bacteria detection & identification kits, and other new biotechnology development..."
In a biotechnology company you have at least three different types of specialists-scientists,businessmen (though some startups dont really have businessmen yet-and I've been told by some thats the case w NNLX),and lawyers. Former board member Gwen was both a scientist w Ph.D(s) and a very specialized type of attorney -a patent attorney.
Humans already have chosen built in barricades to cross fertilization/communication with others.
That problem has been greatly exacerbated by the runaway specialization that is assumed to be highly correlated with modernization.
Meaning very few people can intuitively operate in more than one of these areas of specialization -and society usually does not reward those who can,due to the overwhelming embrace of specialization.
Huge corporations escape this problem by simply hiring specialists in several disciplines and paying them fat salaries.
NNLX is not yet in a position to do so.
In fact, many big corporations Presidents are only good with a big picture macro economic environment and are not good at operations. So those companies often hire a COO to run the company on a day to day basis. I've de facto been told that thats what NNLX needs -a COO. But NNLX does not yet feel its in a financial position to hire for such a position. This can also be inferred due to NNLX apparently not continuing the VP of sales position created a couple years ago.
So until you have the luxury of affording it,you concentrate on what you are good at doing and handoff items you either arent able to do or cant presently afford to do.
NNLX has valuable products but as many have noted, like all startups, NNLX has to confront the tremendous inertia /blocking tactics of big pharma/big corporations. It is difficult enough to do that in NNLX chosen base of operations (USA,UK, S Africa implied by PR),let alone literally worldwide operations. So the decision is made to monetize the flat pack technology in certain geographical areas which NNLX has determined it cannot realistically do in the foreseeable future itself.
And use such funds to more efficiently move the company forward with its 30 different types of N'Assay configurations alone, plus NNLX's other technologies.
The wisdom of doing so of course can only be completely understood by those on the inside,both due to information they have that we do not have,and their experience in confronting the blockades that new technologies can present,breaking down the doors of present business relationships large corporations have w suppliers.
By selling the flat pack patent in prescribed geographical areas NNLX can pass that burden onto huge corporations which are both able to handle that burden and for whom that burden will not be as great because those large corporations can utilize the business relationships they have already created.
So both NNLX and the buyers benefit from their respective specializations.And thats what makes the proposed contract doable and beneficial to all parties,as well as creating value in the contract.
9
