India Globalization Capital, Inc (NYSEAMERICAN:IGC) is a company that focuses on two lines of business. The first one is a cannabis business that has come up with a flagship product for Alzheimer’s patients. The other one is a legacy infrastructure business. The business guru today spoke in relation to the filing of a provisional method and composition patent application.
A close outlook
The filing-with the U.S. Patent and Trademark Office (USPTO), targets energy restoration and the treatment of fatigue. This is fundamentally a provisional patent. The actual time that the USPTO will grant the registered patent remains unknown to this point in time. In fact, there are chances it might not even grant it.
October’s patent filing is one of the several creative moves by the business guru. It is currently working on a development and commercialization plan. This is a plan that will soon see it support the manufacture of the branded, hemp/CBD sugar-free energy drink.
The turn of events
The filing of the patent is a step towards the right direction. It is a move that lets the company move with speed in discussing its CBD energy drink formulation openly with several processors. Most of them are situated in Canada, the United States and other countries where its products are legal.
It was also today that the business giant executed a distribution and partnership agreement for a wide range of products. Nitro Gn which is a sugar free, energy drink was one of the products. The 10-year agreement will witness the company pay about 797,000 shares of restricted, unregistered, common stock.
An extension period of about five years might be put in place. The company might take advantage of that to continue marketing its products. It will market them in South America, Mexico, Canada and the U.S.
The CEO of IGC Ram Mukunda opined, “According to a Grand View Research forecast, the global energy drinks market is projected to be almost $85 billion by the year 2025, with non-alcoholic beverage sales expected to account for a significant portion of the market.”
The company has also announced that it obtained about $1.0 million in a private placement of restricted shares.
