- iSIGN Media Solutions (ISD) has announced the signing of an exclusive worldwide licensing agreement in perpetuity with SIMBL Business Enablement Inc
- The agreement is for its Passive Historical Contact Tracing (“PHACT”) and underlying framework, including SPE Asset Management System for smart location analytics and monitoring intellectual property
- iSIGN will be acquiring this agreement by the issuance of 19.1 million common shares from treasury with a deemed value of $0.05 per share for a value of $955,000.
- The shares issued under this agreement, totalling 22.490 million will result in SIMBL owning 9.93 per cent of the resulting outstanding shares of the company
- Shares of iSign Media Solutions Inc. are up 30 per cent, trading at $0.065 at 3:44 pm ET
iSIGN Media Solutions (ISD) has signed an exclusive worldwide licensing agreement with SIMBL Business Enablement Inc.
The agreement is for its Passive Historical Contact Tracing (“PHACT”) and underlying framework, including SPE Asset Management System for smart location analytics and monitoring intellectual property (IP).
The PHACT IP provides smart location analytics and monitoring.
Conceived as a contact tracing platform, the overall platform enables one to monitor the movement, congregation behaviours, and general movements of individuals within a monitored space, while maintaining compliance with all public privacy policies.
PHACT provides real-time and historical information regarding individual movement, dwell, and crowd behaviour.
Under the terms of this arm’s-length agreement, iSIGN has a right-of-first offer and a right-of-first-refusal in respect to the further acquisition of two additional IP items, on terms and conditions to be mutually agreed upon.
Also, SIMBL has contracted that they will not use the IP for their own purposes or to issue new licenses to any third party and that any new licenses issued will be issued through iSIGN.
iSIGN will be acquiring this agreement by the issuance of 19.1 million common shares from treasury with a deemed value of $0.05 per share for a value of $955,000.
The shares issued under this agreement, totalling 22.490 million will result in SIMBL owning 9.93 per cent of the resulting outstanding shares of the company.
Under the terms of the agreement, SIMBL has agreed to provide all ongoing maintenance, upgrades and support services to the IP for the duration of the Agreement, at a fee of 10 per cent of revenues generated from their technology.
The agreement will not result in any transfer of any liabilities or contingent liabilities nor will there be any transfer of existing SIMBL clients from SIMBL to iSIGN.
iSIGN is a data-focused, software-as-a-service (SaaS) company.
SIMBL is a business-enablement firm that specializes in the development of software solution
Shares of iSign Media Solutions Inc. are up 30 per cent, trading at $0.065 per share at 3:44 pm ET.
