UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Item 1.01 Entry into a Material Definitive Agreement.
On February 14, 2025, Business Warrior Corporation (“Business Warrior” or the “Company”) entered into an Exclusive License Agreement (the “Agreement”) with an Exclusive Licensee. (the “Licensee”), pursuant to which Business Warrior granted the Licensee the exclusive right to market, sell, and distribute the Company’s proprietary financial technology platform, PayPlan, along with associated marketing services and legacy software, within the United States.
Under the terms of the Agreement, the Licensee will assume Business Warrior’s current customers and pay Business Warrior a license fee equal to Business Warriors employee and technology costs plus 30% of the Licensee’s Net Margin derived from the Licensed Products each month. Business Warrior also received an initial fee of $200,000. The Agreement is for an initial term of twelve (12) months, with automatic renewal for up to two additional twelve-month terms unless either party provides at least sixty (60) days' notice of termination. Additionally, the Licensee has a right of first refusal for licensing opportunities outside of the United States.
This agreement will allow the Company to focus on growing revenues by scaling its PayPlan product, getting current with its financial reporting with the SEC, and achieving compliance with SEC Rule 15c2-11 to facilitate the resumption of public quotations of its securities.
Business Warrior retains ownership of all intellectual property associated with PayPlan and related products. The Agreement allows the Licensee to sublicense the Licensed Products on a Software-as-a-Service (SaaS) basis. Furthermore, the Agreement includes provisions regarding confidentiality, compliance, financial reporting, and a buyback option whereby Business Warrior may repurchase the license after six months under specified conditions.
Item 9.01 Financial Statements and Exhibits.
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| Cover page interactive data file (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BUSINESS WARRIOR CORPORATION |
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| a Wyoming corporation |
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Date: March 7, 2025 | By: | /s/ Rhett Doolittle |
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| Name: | Rhett Doolittle |
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| Title: | Chief Executive Officer and Director (Principal Executive Officer)(Principal Financial and Accounting Officer) |
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