February 11, 2025, Letter Amending April 24, 2024 Patent Purchase Agreement, between Mangoceuticals, Inc. and Intramont Technologies
Exhibit 10.1
INTRAMONT TECHNOLOGIES, INC.
February 11, 2025
Mangoceuticals, Inc.
Attn: Jacob Cohen
15110 Dallas Parkway, Suite 600
Dallas, TX 75248
RE: Payments to Intramont Technologies per Patent Purchase Agreement
Dear Mr. Cohen,
Reference is hereby made to Mangoceuticals, Inc’s payment obligations pursuant to Section 3.1(b) of the Patent Purchase Agreement entered into and effective on April 24, 2024. This letter is to confirm our ongoing commitment and partnership in further developing and improving the patent portfolio that was purchased by Mangoceuticals, and Intramont Technologies’ further assistance and involvement in moving the patent through the product development phase and towards commercialization.
In the spirit of our collective efforts, and to memorialize these conversations with an effective date of December 31, 2024, Intramont has agreed that all funds paid by Mangoceuticals towards the furtherance and development of the patent portfolio, shall go towards the balance owed to Intramont pursuant to section 3.1(b), which the balance as of the December 31, 2024 was $373,000.
Examples of these payments to be credited to the outstanding balance include, but are not limited to, payments to consultants, attorneys, patent and trademark filing fees, efficacy studies, clinical trials, and any future payments made towards the collaboration on a commercialization strategy (the “Payments”).
In consideration for Mangoceuticals agreement to make these Payments throughout the year, coupled with the consideration and understanding that Mangoceuticals will work with me and my team in good faith (but without any specific requirements) on the financing, development and commercialization of the patent portfolio, Intramont further waives any term, timeline or timing deadline for these Payments.
I appreciate your ongoing support and commitment to this project and look forward to furthering the development of this patent portfolio together with Mangoceuticals.
Sincerely, | AGREED AND ACCEPTED: | |||
By: | /s/ James Intrater | By: | /s/ Jacob D. Cohen | |
James Intrater | Jacob Cohen | |||
Chief Executive Officer | Chief Executive Officer | |||
Intramont Technologies, Inc. | Mangoceuticals, Inc. |