LICENSE AGREEMENT	12 Months Ended
Dec. 31, 2023
LICENSE AGREEMENT
LICENSE AGREEMENT	NOTE 7 – LICENSE AGREEMENT On May 1, 2019, the Company, entered into an agreement with a non-affiliated third party (“Third Party”), providing for an exclusive license by the Company of its ECAP technology to the Third Party for a term of 17 years unless terminated sooner, a sublicense by the Company to the Third Party of its rights under that certain Exclusive Field-of-Use Patent License Agreement dated January 5, 2009 entered with The Los Alamos National Laboratory for a term until the expiration of the last valid claim to expire of the patents pursuant to such agreement and the sale by the Company of ECAP-C machines to the Third party. As part of the above license agreements, the Company will receive royalty payments, including minimum payments, based on a percentage of the Third Party’s sales. Royalties will be 10% on gross sales of licensed dental products and an average of 5% on all other sales of licensed products. During the years ended December 31, 2023, and 2022, the Company has $10,000 in deferred revenue, and received $50,000, respectively as a minimum royalty payment.

LICENSE AGREEMENT

12 Months Ended

Dec. 31, 2023

NOTE 7 – LICENSE AGREEMENT

On May 1, 2019, the Company, entered into an agreement with a non-affiliated third party (“Third Party”), providing for an exclusive license by the Company of its ECAP technology to the Third Party for a term of 17 years unless terminated sooner, a sublicense by the Company to the Third Party of its rights under that certain Exclusive Field-of-Use Patent License Agreement dated January 5, 2009 entered with The Los Alamos National Laboratory for a term until the expiration of the last valid claim to expire of the patents pursuant to such agreement and the sale by the Company of ECAP-C machines to the Third party. As part of the above license agreements, the Company will receive royalty payments, including minimum payments, based on a percentage of the Third Party’s sales. Royalties will be 10% on gross sales of licensed dental products and an average of 5% on all other sales of licensed products.

During the years ended December 31, 2023, and 2022, the Company has $10,000 in deferred revenue, and received $50,000, respectively as a minimum royalty payment.

MANHATTAN SCIENTIFICS INC 10-K