Cosmos Health Inc. Files 8-K with Material Agreements
Ticker: COSM · Form: 8-K · Filed: Jan 22, 2025 · CIK: 1474167
| Field | Detail |
|---|---|
| Company | Cosmos Health INC. (COSM) |
| Form Type | 8-K |
| Filed Date | Jan 22, 2025 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $500,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-reporting, corporate-filing
TL;DR
Cosmos Health filed an 8-K on Dec 31, 2024, reporting material agreements & financials.
AI Summary
Cosmos Health Inc. filed an 8-K on January 22, 2025, reporting events as of December 31, 2024. The filing indicates the entry into a material definitive agreement and includes financial statements and exhibits. The company, formerly known as Cosmos Holdings Inc. and Prime Estates & Developments Inc., is incorporated in Nevada and operates in the wholesale drug proprietaries and druggists' sundries sector.
Why It Matters
This 8-K filing signals a significant development for Cosmos Health Inc., potentially involving new contracts or financial arrangements that could impact its business operations and future performance.
Risk Assessment
Risk Level: medium — The filing of an 8-K with material definitive agreements suggests significant business events, which inherently carry some level of risk and uncertainty until further details are disclosed.
Key Players & Entities
- Cosmos Health Inc. (company) — Registrant
- Cosmos Holdings Inc. (company) — Former Company Name
- Prime Estates & Developments Inc (company) — Former Company Name
- Nevada (jurisdiction) — State of Incorporation
- December 31, 2024 (date) — Date of Report
- January 22, 2025 (date) — Filing Date
FAQ
What specific material definitive agreement was entered into by Cosmos Health Inc. as of December 31, 2024?
The filing indicates the entry into a material definitive agreement, but the specific details of this agreement are not provided in the provided text.
What is the primary business of Cosmos Health Inc. according to the filing?
Cosmos Health Inc. is classified under Standard Industrial Classification code 5122, which is WHOLESALE-DRUGS PROPRIETARIES & DRUGGISTS' SUNDRIES.
When was Cosmos Health Inc. incorporated and in which jurisdiction?
Cosmos Health Inc. was incorporated in Nevada.
What were the previous names of Cosmos Health Inc.?
The company was formerly known as Cosmos Holdings Inc. (name change effective January 6, 2014) and Prime Estates & Developments Inc (name change effective October 8, 2009).
What is the principal executive office address of Cosmos Health Inc.?
The principal executive offices are located at 5 Agiou Georgiou, Pilea, Thessaloniki, Greece, 55438.
Filing Stats: 668 words · 3 min read · ~2 pages · Grade level 11.1 · Accepted 2025-01-22 08:00:13
Key Financial Figures
- $500,000 — ty consisting of: an initial payment of $500,000 to be paid by year end of 2024; for the
Filing Documents
- cosm_8k.htm (8-K) — 25KB
- cosm_ex101.htm (EX-10.1) — 98KB
- 0001477932-25-000373.txt ( ) — 262KB
- cosm-20241231.xsd (EX-101.SCH) — 6KB
- cosm-20241231_lab.xml (EX-101.LAB) — 14KB
- cosm-20241231_cal.xml (EX-101.CAL) — 1KB
- cosm-20241231_pre.xml (EX-101.PRE) — 9KB
- cosm-20241231_def.xml (EX-101.DEF) — 2KB
- cosm_8k_htm.xml (XML) — 4KB
01 Entry into a Definitive Agreement
Item 1.01 Entry into a Definitive Agreement On December 31, 2024 ("Effective Date"), Cosmos Health Inc. ("the Company") and DocPharma Single SA. (Greece) a related party (hereinafter "Licensor"), entered into a Patent and Technology License Agreement whereby Licensor granted the Company a royalty-bearing, exclusive worldwide license to actively commercialize at least one of two patents for treatment of cancer through research and preclinical and clinical trials (including CDA, clinical studies Phase I, II, III) for the life of the patents or 20 years, whichever is longer. Patent #1 was filed in 2016 and Patent #2 was filed in 2017. The Company was granted the right to sublicense. The Company has an optional buy-out right for the total amount of EUR 7,500,000, constituting EUR 4,000,000 for Patent 1 and EUR 3,500,000 for Patent 2 exercisable throughout the term subject to 60 day notice and a 60 day close. The Company will pay Licensor a running royalty consisting of: an initial payment of $500,000 to be paid by year end of 2024; for the five year term of 2025 to 2030, a fixed amount of EUR 350,000 per annum (the " Start-Up Term "); and after the Start-Up Term, one and a half percent (1,5%) of annual Net Sales for Licensed Products covered by an issued patent. All payments during the Start-Up Term are payable annually within 30 days of year end, and thereafter within 30 days of finalization of financial statements. Any time after the 5 th year of the Effective Date. The Company has the right to terminate for convenience subject to 30 day notice. Licensor may terminate for breach or default by the Company if not cured within 60 days or upon the Company's bankruptcy, insolvency or receivership. The Agreement is governed by New York law and is subject to New York courts.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits 10.1 Patent and Technology License Agreement 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). -2-
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. COSMOS HEALTH INC. Date: January 22, 2025 By: /s/ Georgios Terzis Georgios Terzis Chief Financial Officer -3-