UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 1.01 | Entry into a Material Definitive Agreement. |
On January 3, 2023, we entered into a Distribution Agreement with Ming Mei Technology Co. Ltd (“Distributor”) to distribute the INVOcell system to Taiwan (ROC) under which Distributor was appointed as the exclusive distributor in Taiwan (ROC). We can elect to terminate Distributor’s exclusivity upon its failure to meet certain purchase targets, in our sole discretion. The agreement is for a term of one year and automatically renews for additional one-year terms unless either party provides ninety days prior written notice of non-renewal in advance of the then current termination date. We also granted Distributor an exclusive right to the INVO trademarks in Taiwan (ROC) in connection with the sale of products in Taiwan (ROC).
The foregoing summary of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the agreement, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.
| Item 8.01 | Other Events. |
On January 5, 2023, we issued a press release titled “INVO Bioscience Enters Distribution Agreement for Taiwan.” A copy of the press release is filed hereto as Exhibit 99.1 and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits.
| Exhibit No. | Exhibit | |
| 10.1* | Distribution Agreement with Ming Mei Technology Co. Ltd. | |
| 99.1 | Press release dated January 5, 2023 | |
| 104 | Cover Page Interactive Data File (embedded within the XBRL document) |
* Certain confidential portions of this exhibit have been redacted from the publicly filed document because such portions are (i) not material and (ii) would be competitively harmful if publicly disclosed.
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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.
| Date: January 5, 2023 | INVO BIOSCIENCE, INC. |
| /s/ Steven Shum | |
| Steven Shum | |
| Chief Executive Officer |
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