Pursuant to the Agreement, the Company has the right, at its discretion, to sell to Credit Ventures up to $20 million of its preferred stock from time to time over a 36-month period. The Company will have the right, but is not obligated, to sell stock to Credit Ventures depending on certain conditions as set forth in the Agreement.
Bill Flanagan, PR Manager for WorldPatentMarketing.com, comments, "This is an important milestone for World Patent Marketing to have accomplished. We have attracted and won the confidence of a forward-thinking institutional investor which says a lot about their conviction regarding our vision, management approach, and overall market demand. Having a flexible and low cost funding instrument in place allows us to efficiently accelerate our commercialization and acquisition strategies."
WorldPatentMarketing.com was created to be the resource where inventors could go to and have licensed professionals file a quality patent application at a reasonable price.
To keep patent firm service fees low, WorldPatentMarketing.com acts as a clearinghouse between inventors and patent firms. This allows patent firms to focus on what they do best, while WorldPatentMarketing.com handles the customer relationship and marketing aspects. All patent applications are drafted and filed by experienced patent firms.
WorldPatentMarketing.com's executives has connected the worlds' most influential entertainment, character, fashion, art and corporate brand owners with consumer goods manufacturers, licensees and retailers. This is a meeting place for the global licensing industry, whether you are looking to spot trends, build strategic partnerships or secure promotional tie-ins. Thousands of products across the world started life as a conversation at WorldPatentMarketing.com and this is where you can find the right partners to expand your business, and make the deals that will change your company forever.