Subject to the final approval of the TSX-Venture, we have acquired the exclusive worldwide licensing for the Passive Historical Contact tracing (“PHACT”) technology. This is the technology that is presently operating in the Prince George airport, under contract with Public Works and Government Services Canada.
We will be immediately proceeding with the further acquisition of the Virtual Intelligent In-Home Health Care (“ViiHC”) and open-source code forks IP that are described on our press release.
While our original intent was to acquire all technologies at the same time, this would have involved a more complicated and time consuming route to final approval. Fracturing the acquiring of the licensing will result in a speedier approval for the overall acquisition. It should also be noted that the delay in acquiring the licensing for the ViiHC IP doesn’t affect our immediate revenue forecasts, as revenue from that source was not immediately anticipated.
Thank you all for your patience.