Patent Licenses Cover Upwards of Dozens of Patents in Addition to Patent Applications
MMA Global, Inc. (OTC Pink: LUSI) (OTCMKTS:LUSI)
LAS VEGAS, NEVADA, UNITED STATES, October 6, 2021 /EINPresswire.com/ — LUSI Secures Another Patent License on a Portfolio of Patents That Will Undergird and Protect Its Blockchain-Gaming Business Model
MMA Global, Inc. (OTC Pink: LUSI) (the “Company”) (name and ticker symbol change pending) has entered into a patent license for a portfolio of 86 patents and patents-pending, including U.S. and international patents, that the Company believes will secure key aspects of the intellectual property backbone of the blockchain and gaming aspects of its business model. See patents in the attached table. This is the second patent portfolio licensed by the Company today.
The patent owner and licensor, AG 18 LLC dba Arrow Gaming (https://ArrowGaming.com) acquires, develops and seeks opportunities to commercialize innovative technologies for the gaming industry, with a focus on patented technologies surrounding the gaming space, blockchain technologies and the intersection of gaming and gambling.
The license for each patent will last for the life of the patent, including any continuation or divisional patents that extend that period. The patent license includes an initial license fee of 2,500,000 shares of LUSI common stock and warrants to purchase 7,500,000 shares of LUSI common stock. The warrants are exercisable at $.65 per share, commencing in eight months and thereafter for a period of 10 months. However, the exercise period may be reduced if the shares to be acquired on exercise of the warrants become free trading. The license bears a royalty of 5% per annum, billed quarterly in arrears, on the on the Company’s adjusted gross revenue from the Company’s gaming vertical.
“We are thrilled to be working with Arrow Gaming,” Company CEO Jim Phipps said. “They have recently initiated action against a major player in this industry to protect their patented innovations. We intend to put this set of patents to use in the advancement of our tech and the protection of our play-to-earn business model, which turns so crucially on the interface between the worlds of gaming and blockchain technologies.”
About Arrow Gaming:
Arrow Gaming is focused on acquiring, developing and seeking opportunities to commercialize innovative technologies for the gaming industry. Arrow has a total of 86 issued patents and patents-pending worldwide.
About MMA Global, Inc.:
The Company holds, develops and acquires, and plans to operate, technology and entertainment assets across a broad platform, including an NFT market place and a game platform. The Company preparing to launch a blockchain-enabled game engine offering both pay-to-play and free-to-play mobile and browser-based games, and related social offerings, focused on, but not limited to the sports and entertainment sector. It is anticipated that the game engine will: (1) deploy fungible and non-fungible token technologies; (2) support ‘own brand’ and ‘white label’ gamification of both synchronous and asynchronous sporting and entertainment events; and (3) provide a powerful tool to content owners, celebrities, social influencers and others to engage followers, to activate consumers, and to gather valuable market insights. The Company is introducing, ZUKI and ZUKI NFT, which will be used across the ZUKI platform as the coin of the ZUKI.APP realm.
This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
Please direct media inquiries relating to the Company to Jim Phipps at email@example.com.
For a complete list of the issued patents covered by this patent license, please see the PDF press release on file with OTCMarkets.com.
MMA Global, Inc. (OTC Pink: LUSI)
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