v3.26.1
License Transactions
6 Months Ended
Jun. 30, 2026
License Transactions  
License Transactions

12. License Transactions

 

VisiRose

 

During the three months ended June 30, 2026 and 2025, the Company’s majority-owned subsidiary, VisiRose, received investments totaling $0 and $0, respectively.

 

During the six months ended June 30, 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 396 and 3,694 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 40 and 188 shares of common stock, respectively, during the six months ended June 30, 2026 and 2025 to the University of Miami to maintain the University’s 5.0% ownership interest.

 

As of June 30, 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 June 30, 2026 and 2025, the Company recorded a net loss attributable to VisiRose noncontrolling interest of $6,150 and $37,661, respectively, reflecting the noncontrolling interests’ proportionate share of the VisiRose losses.

 

During the six months ended June 30, 2026 and 2025, the Company recorded a net loss attributable to VisiRose noncontrolling interest of $16,645 and $59,155, respectively, reflecting the noncontrolling interests’ proportionate share of the VisiRose losses.