From Earlier: Preventia Announces License Agreement with Private Trading Systems PLC
Preventia (PVTA) announced a License Agreement Monday with Private Trading Systems PLC, granting Preventia a worldwide and exclusive license.
Preventia can use, sub-license, enforce, and otherwise exploit, PTS UK‘s proprietary trading system designed to facilitate the trading of instruments, investments, securities and assets between buyers and sellers in a trading environment (the “System”) and all intellectual property incorporated therein and related thereto (collectively, the “System IP”), which includes, but is not limited to, United States Patent No. 8,165,952 for “Electronic Trading System” (the “U.S. Patent”) and all improvements thereof and thereupon.
Under the terms of the License, Preventia has agreed to: 1. Throughout the Term, and provided a reasonable rate and other terms can be agreed upon, Private Trading Systems Corp. (a wholly-owned subsidiary of the Licensor) has the capability to contract, manage, and otherwise operate the System for sub-licensees and other users thereof; 2. Pay to the Licensor fifty percent (50%) of gross revenues earned and received by Preventia in connection with the use, sub-licensing, enforcement and/or other exploitation of the System and/or the System IP (less amounts paid by the registrant to legal counsel and other third parties with respect to litigation or other enforcement proceedings as such litigation and/or enforcement proceedings pertain to the enforcement of the System IP), subject to a minimum annual fee of $2,000,000 (payable quarterly).
The term of the License is five (5) years and Preventia has an option to renew for two (2) additional five (5) year terms.
Preventia shares are trading 370% higher Monday at $0.63
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