Gen 2 Technologies Inc Announces Signing of Definitive Patent Assignment Agreement, Initiation of Change of Control, and Discussions to Appoint New Outside Preferred Share Director
Gen 2 Technologies (OTCID: MNIZ) has signed a definitive agreement and executed the patent assignment transferring the patent-pending IP behind PlayPal, its screen-free AI play companion for children ages 3-8. Consideration stays on previously disclosed terms: 2,000,000 restricted shares issuable within 60 days plus a 5% royalty on net revenues that can escalate to 20% as milestones are met. The assigned IP carries an 18-month commercialization deadline, now softened by a renewal clause.
Key figures
- Royalty max
- 20% of net revenues upon milestones
- Royalty initial
- 5% of net revenues
- Consideration shares
- 2000000
- Share issuance window
- within 60 days
- Prior agreement in principle date
- August 26, 2026
- Commercialization reversion window months
- 18
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