dynaCERT (TSX.V-DYA) announced the payment of $1,132,801.50 to a company controlled by a former director, representing all of the outstanding principal amount owing under the previously provided loans. This was funded by the private company exercising an aggregate of 13,828,015 warrants at an exercise price of $0.10 per share. dynaCERT has received net $250,000 in warrant exercise proceeds and now has 175,996,154 common shares issued and outstanding, in addition to 15,898,531 warrants that remain outstanding with a weighted average exercise price of $0.17 per share.
Cleaning up the balance sheet very nicely…
dynaCERT (TSX.V:DYA) has entered into a formal Intellectual Property Transfer agreement with Sheer Technology in respect of the acquisition by the Company of all of the underlying technology and intellectual property rights employed in its principal product, the HydraGen TM.
dynaCERT will irrevocably acquire all rights, title and interest to the Technology, the invention and all intellectual property pertaining to the Technology. The purchase price payable is CAD $750,000 which is payable via delivery of a secured promissory note to Sheer Technology. The promissory note bears no interest and is repayable out of sales of the HydraGen TM units with 50% of the gross profits from sales being paid to Sheer Technology within a five year period.