In this day and age, there is considerable focus on companies involved in producing eco-friendly products, and one of the companies you may be in focus on this morning is Breakthrough Chemistry Inc. (OTC: MGON). The company made an announcement yesterday with regards to a key agreement signed yesterday. In this feature, we will take a closer look.
The Agreement
The company announced that it had inked a Royalty Credit and Inventory Agreement with the firm Medesol Global. As per the terms of the agreement, Medesol would take up the possession of the inventory that remained under the possession of the Wesmar Company. Consequently, Medesol would issue credit to the company against that inventory. In the news release, the company also noted that after having acquired the intellectual property, recipes, and manufacturing control, the condition and age of the inventory did not meet the quality standards of Breakthrough Chemistry.
Further Information
The company went on to state that the materials that it had got from the Wesmar facilities had in fact expired. It was further noted that Medasol had not actually disclosed that the materials in question had been in any way concerning. It remains to be seen if the stock gets any traction today.
Key Quote
“As part of Breakthrough Chemistry’s recent acquisition of intellectual property recipes and manufacturing control, we inspected the actual raw materials and discovered that their age and condition did not meet our quality standards. The materials at the Wesmar facilities were, in fact, all expired,” said Robert Gardiner, CEO of Breakthrough Chemistry, Inc. “
