v3.26.1
SUBSEQUENT EVENT
6 Months Ended
Jun. 30, 2026
Subsequent Events [Abstract]  
SUBSEQUENT EVENT

NOTE 7 – SUBSEQUENT EVENT

 

Acquisition of Certain Patents

 

On July 28, 2026, the Company acquired certain patents and related technology and assets (collectively, the “Assets”) from Forge Medical Inc. (“Forge”), relating to Forge’s discontinued VasoStat Hemostasis device (“VasoStat”). VasoStat was designed to provide arterial compression at the puncture-site following catheterization procedures for the purpose of stopping bleeding and for use following radial and tibial catheterization procedures. The purchase price for the Assets is limited to potential royalties payable to Forge as, if and when the Company commercializes the Assets, based upon a formula set forth in the purchase agreement for the Assets, and in any event is limited to a maximum of $5,000. The Company has the sole discretion in relation to the use (or non-use) of the Assets, including whether and/or to what extent to commercialize the assets; however, the Company has agreed to use commercially reasonable efforts to initiate commercialization of the Assets within two years (or in certain events, three years) of the acquisition. In the event the Company does not commercialize the Assets, they will be returned to Forge without any further consideration, payment, penalty or refund.