v3.26.1
LICENSE AGREEMENT
3 Months Ended
Mar. 31, 2026
License Agreement  
LICENSE AGREEMENT

NOTE 6: LICENSE AGREEMENT

 

On December 30, 2025, the Company and TAP, Inc. (“Licensor”) entered into a license agreement (“License Agreement”), whereby the Company was granted by the Licensor, a worldwide license to use the Intangible Property Rights (as defined in the License Agreement) in connection with the business of real estate tokenization around the world. The initial term of the License Agreement was 90 days, but was extended until June 30, 2026. The initial license fee was $0 until the Company and the Licensor agreed to an appropriate fee. In good faith, the Company has paid fees during the three months ended March 31, 2026 in the amount of $695,000 in various payments. These amounts will be allocated against the agreed upon fee. These are reflected in the balance sheet as the License Agreement that is being finalized is expected to be in perpetuity and this fee will be reviewed annually for impairment. The Licensor is considered a related party as there are common shareholders and management personnel.