True Nature Enters Exclusive Source Code License Agreement with AgingTopic, LLC

True Nature (OTCMKTS:TNTY) recently disclosed a significant event in a Form 8-K filing with the Securities and Exchange Commission. On December 6, 2024, the company’s Board of Directors approved the execution of an Exclusive Source Code License agreement with AgingTopic, LLC. This agreement involves True Nature acquiring, subject to specific payment milestones, the source code and business activities of AgingTopic. The source, resembling a blog-like entity, focuses on generating advertising revenue from related vendors and users within the space.

As outlined in the agreement, True Nature will make a $5,000 cash payment upon execution with additional royalty payments expected, amounting to a maximum of $150,000, leading to a fully paid-up license. Of note, AgingTopic is controlled by Ms. Amy Lance, wife of True Nature’s Chairman and CEO, Mack Leath, underscoring the close connection between the entities involved. The transaction received approval from two disinterested Directors.

Given the modest size of the deal and the reliance on sales commission-based payments without a firm schedule, True Nature opted not to commission a valuation report for this acquisition. Additionally, as part of the agreement, True Nature is set to issue 100,000 shares of restricted common stock to AgingTopic for consulting services and technology transition.

True Nature views this acquisition as a strategic move to counterbalance the marketing expenditures associated with its new direct marketing initiatives. The company sees the partnership with AgingTopic as suitable for running operations within its data center facility.

In connection with the issuance of shares related to the transaction, True Nature completed unregistered sales of equity securities, relying on specific regulations to facilitate the process in a manner compliant with the United States Securities Act of 1933. The Form 8-K also includes forward-looking statements cautioning investors about potential risks and uncertainties associated with the business activities.

True Nature is optimistic about the potential of this agreement to enhance its operations and offset marketing costs effectively in the long term.

The company has filed relevant documents with the SEC, including the Exclusive Source Code License agreement as an exhibit in the Form 8-K filing, for detailed reference.

Investors are advised to consider the risks and uncertainties associated with forward-looking statements before making any investment decisions. True Nature remains committed to providing updates as the situation evolves further.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read True Nature’s 8K filing here.

True Nature Company Profile

True Nature Holding, Inc focuses on engaging in compounding pharmacy activities direct to consumers, doctors, and veterinary professionals. It also focuses on the development of software applications in the healthcare arena, including telemedicine; and consideration of services offering using blockchain encryption technology for various aspects of the healthcare industry.