QUARTERLY REPORT for EMOR / Carrie For the Period
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Posted On: 08/20/2020 3:55:13 PM
QUARTERLY REPORT for EMOR / Carrie
For the Period Ending: June 30, 2020
On April 19, 2020, pursuant to the Company’s amended and restated collaboration agreement with Todos,
See Note 10, the Todos will provide various advisory services to the Company. The initial term of the collaboration agreement is five years. Upon the execution of the collaboration agreement the Company was to issue 50,000 shares of the Company’s common stock, valued at $98,000 to Todos. As of June 30, 2020, these shares had yet to be issue.
As such, the Company recorded a stock payable in the amount of $4,900 representing the fair value of services
performed during the three months ended June 30, 2020.
As a result of the above, the Company has recorded a stock payable of $1,278,850 and $250,000 as of June
30, 2020 and March 31, 2020, respectively.
Investment in Equity Securities
The Company received 1,000,000 shares of common stock in Todos Medical Ltd. Pursuant to the
collaboration agreement with Todos Medical USA Inc., a Nevada corporation (“Todos”) (See Note 13). The Company records its investments in equity securities initially at cost in accordance with ASC 320, Investments – Debt and Equity
Securities. The Company subsequently marks the investment to market each reporting period and, in accordance with Accounting Standards Update (“ASU”) ASU 2016-01, Financial Instruments – Overall, records the unrealized gains or losses in the unaudited condensed consolidated Statements of Operations. There were no unrealized gains or losses on investments in equity securities for the three months ended June 30, 2020.
Emerald Viral Diagnostics Joint Venture, Inc.
On March 23, 2020 the Company entered into a joint venture agreement with Todos to form Emerald Viral
Diagnostics Joint Venture, Inc., a Nevada corporation (“Emerald Viral”). The purpose of Emerald Viral is to manage, operate and distribute viral testing currently controlled by Todos. The Company has a 51% controlling interest in Emerald Viral with rights to distributions made from Emerald Viral in proportion to the Company’s ownership percentage.
On April 19, 2020, the Company entered into an amended and restated collaboration agreement with Todos, with a five-year term, which replaces the March 23, 2020 joint venture agreement between the Company and Todos.
Pursuant to the collaboration agreement the Company will receive 1,000,000 shares of common stock of Todos
Medical Ltd. In consideration for the initial investment of $50,000 made to the joint venture and relinquishes its 51% controlling interest in the joint venture to Todos. In addition, the Company shall issue Todos 50,000 shares of common stock in exchange for advisory services. As of June 30, 2020, these shares have yet to be issued.
https://www.otcmarkets.com/stock/EMOR/overview
More information on the deal with Carrie in there.
Carrie is now fully current.
For the Period Ending: June 30, 2020
On April 19, 2020, pursuant to the Company’s amended and restated collaboration agreement with Todos,
See Note 10, the Todos will provide various advisory services to the Company. The initial term of the collaboration agreement is five years. Upon the execution of the collaboration agreement the Company was to issue 50,000 shares of the Company’s common stock, valued at $98,000 to Todos. As of June 30, 2020, these shares had yet to be issue.
As such, the Company recorded a stock payable in the amount of $4,900 representing the fair value of services
performed during the three months ended June 30, 2020.
As a result of the above, the Company has recorded a stock payable of $1,278,850 and $250,000 as of June
30, 2020 and March 31, 2020, respectively.
Investment in Equity Securities
The Company received 1,000,000 shares of common stock in Todos Medical Ltd. Pursuant to the
collaboration agreement with Todos Medical USA Inc., a Nevada corporation (“Todos”) (See Note 13). The Company records its investments in equity securities initially at cost in accordance with ASC 320, Investments – Debt and Equity
Securities. The Company subsequently marks the investment to market each reporting period and, in accordance with Accounting Standards Update (“ASU”) ASU 2016-01, Financial Instruments – Overall, records the unrealized gains or losses in the unaudited condensed consolidated Statements of Operations. There were no unrealized gains or losses on investments in equity securities for the three months ended June 30, 2020.
Emerald Viral Diagnostics Joint Venture, Inc.
On March 23, 2020 the Company entered into a joint venture agreement with Todos to form Emerald Viral
Diagnostics Joint Venture, Inc., a Nevada corporation (“Emerald Viral”). The purpose of Emerald Viral is to manage, operate and distribute viral testing currently controlled by Todos. The Company has a 51% controlling interest in Emerald Viral with rights to distributions made from Emerald Viral in proportion to the Company’s ownership percentage.
On April 19, 2020, the Company entered into an amended and restated collaboration agreement with Todos, with a five-year term, which replaces the March 23, 2020 joint venture agreement between the Company and Todos.
Pursuant to the collaboration agreement the Company will receive 1,000,000 shares of common stock of Todos
Medical Ltd. In consideration for the initial investment of $50,000 made to the joint venture and relinquishes its 51% controlling interest in the joint venture to Todos. In addition, the Company shall issue Todos 50,000 shares of common stock in exchange for advisory services. As of June 30, 2020, these shares have yet to be issued.
https://www.otcmarkets.com/stock/EMOR/overview
More information on the deal with Carrie in there.
Carrie is now fully current.
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