License Transactions |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| License Transactions | |
| License Transactions | 12. License Transactions
VisiRose
During the three months ended March 31, 2026 and 2025, the Company’s majority-owned subsidiary, VisiRose, received investments totaling $75,000 and $700,000, respectively in exchange for the issuance of and shares of VisiRose common stock, respectively. In accordance with the licensing agreement between the Company and the University of Miami, VisiRose also issued an additional and shares of common stock to the University of Miami to maintain the University’s 5% ownership interest, respectively.
As of March 31, 2026, Provectus holds a majority ownership interest in its subsidiary, VisiRose, with an 88.9% stake, while the University of Miami retains a 5.0% ownership interest, and two additional investors together hold approximately 6.1%. In accordance with U.S. Generally Accepted Accounting Principles (GAAP), the Company consolidates VisiRose’s financial results within its condensed consolidated financial statements.
During the three months ended March 31, 2026 and 2025, the Company recorded a net loss attributable to VisiRose noncontrolling interest of $10,495 and $21,494, respectively, reflecting the noncontrolling interests’ proportionate share of the VisiRose losses.
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