GBT Tokenize Corp. hires IDL Concepts to sell patent portfolio; 20% commission

GBT Technologies Inc.

GBT Tokenize Corp. (50% owned by GBT Technologies) entered Representation Agreement with IDL Concepts to sell patent assets.
Agent IDL Concepts receives 20% commission on any transaction proceeds; exclusivity for 6 months then non-exclusive.
Certain patents under negotiation with Mallick Group and potential Apple infringement claim are carved out.
Agreement states no minimum revenue assured and agent has no obligation to generate any sale or licensing.
GBT Technologies Inc. provided its consent; Tokenize is 50% owned by GBT.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.7

GBT Technologies Inc. entered into Representation Agreement with IDL Concepts, LLC (effective 2023-08-17).

Action: entry
Counterparty: IDL Concepts, LLC
Effective: 2023-08-17

Exact text from the filing

On August 17, 2023, GBT Tokenize Corp. (‘Tokenize’), which is 50% owned of GBT Technologies, Inc (‘GBT’ or the ‘Company’), which provided its consent, entered into a Representation Agreement (the ‘RA’) with IDL Concepts, LLC (the ‘Agent’), to represent Tokenize in a potential purchase transaction facilitated by the Agent transferring all of Tokenize’s right, title, and interest in certain Assigned Patent Rights

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GBT Technologies Inc. filing history →

Source: SEC EDGAR

accession 0001731122-23-001562

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