XML 162 R29.htm IDEA: XBRL DOCUMENT v3.22.2.2
NEW MITEXSTREAM AGREEMENT (Tables)
9 Months Ended
Sep. 30, 2022
NEW MITEXSTREAM AGREEMENT  
Schedule of new MiteXstream agreement

 

 

New MiteXstream Agreement

 

Original MiteXstream Agreement

Term

 

December 31, 2080

 

Initial terms of 10 years, with one 10-year renewal term

Territory

 

Worldwide Exclusive (1)

 

United States and Canada

Royalty

 

$10.00 per gallon manufactured

 

Effective royalty of an estimated $50 per gallon

Minimums

 

2,500 gallons of concentrate manufactured per year (2)

 

$20,000 of product per year

Sublicensing

 

Right to sublicense granted

 

No right to sublicense

Trademarks

 

For no extra consideration, rights granted to use “MiteXstream” and “Harnessing the Power of Water”

 

For no extra consideration, rights granted to use “MiteXstream”