On April 24, 2024, Mangoceuticals, Inc., a Texas-based corporation, completed a significant transaction by entering into a Patent Purchase Agreement with Intramont Technologies, Inc. The agreement involved Mangoceuticals' acquisition of patents and patent applications related to the prevention of infections, including the common cold, respiratory diseases, and HPV, for a total consideration of $20 million. The payment was structured as $19.6 million in newly designated 6% Series C Convertible Preferred Stock and $400,000 in cash, to be paid in installments by November 30, 2024. The transaction closed on the same day as the agreement, with the issuance of the Series C Shares. Mangoceuticals plans to leverage the acquired patents through its subsidiary, MangoRx IP Holdings, LLC, by developing products such as an oral dissolvable tablet, lozenge, toothpaste...Show More

On April 24, 2024, Mangoceuticals, Inc., a Texas-based corporation, completed a significant transaction by entering into a Patent Purchase Agreement with Intramont Technologies, Inc. The agreement involved Mangoceuticals' acquisition of patents and patent applications related to the prevention of infections, including the common cold, respiratory diseases, and HPV, for a total consideration of $20 million. The payment was structured as $19.6 million in newly designated 6% Series C Convertible Preferred Stock and $400,000 in cash, to be paid in installments by November 30, 2024. The transaction closed on the same day as the agreement, with the issuance of the Series C Shares. Mangoceuticals plans to leverage the acquired patents through its subsidiary, MangoRx IP Holdings, LLC, by developing products such as an oral dissolvable tablet, lozenge, toothpaste, and mouthwash. The company also granted Intramont a co-exclusive license to use the patents and a right of first refusal on any future sale of the patents until April 24, 2027. This strategic move aims to expand Mangoceuticals' product portfolio into the non-prescription preventive care market and is expected to contribute to the company's compliance with Nasdaq's minimum stockholders' equity requirement.