Viratech Signs Letter of Intent to Provide Social Network for $250,000, Royalties and Equity Interest
Published: Jan 18, 2013
STOCKTON, CA--(Marketwire - January 18, 2013) - Viratech Corp. (PINKSHEETS: VIRA), the first open source biotech research social network platform, announced today that it has entered into a letter of intent to provide a turnkey Social Network for Wellness Builder, Inc., a company engaged in the development of a series of nutraceutical products designed to combat the effects of stress, inadequate nutrition and exposure to environmental toxins.
"As an inventor of Wellness Builder's initial key products, I am extremely excited that Wellness Builder has engaged Viratech to provide its Social Network," said CEO Kevin Buckman, MD.
Viratech will provide a turnkey Social Network, using its licensed patent pending technology platform, which Social Network will act as an engagement funnel for individual micro social networks within the Social Network, to obtain and develop user generated content for the sole purpose of protecting, promoting and producing individual elements of Wellness Builder's business model. In exchange for the fully integrated system, Viratech will receive $250,000, a royalty of 5% of the gross sales of all products developed with the use of the system, and a non-dilutable equity interest of 10% in Wellness Builder, Inc.
"What made the decision for us to Viratech was simple. Their ability to convert user generated traffic to develop a contextual based engagement funnel is one of the smartest technologies I have ever seen, because this incorporates an integrated approach using a high powered Social Media Platform," said Fred Schiemann, CEO of Wellness Builder.
About Wellness Builder
Our modern lifestyles are characterized by high levels of stress, inadequate nutrition and exposure to environmental toxins, which can deplete our bodies of nutrients and make us susceptible to disease. Wellness Builder applies proven research to formulate natural products designed to counteract the damage.
Wellness Builder, Inc. is engaged in the research and development of pharmaceutical and nutraceutical products derived from the research of Dr. Kevin Buckman. The company has an executive team for funding, distribution, and marketing of 12 products to sell pharmaceutical and nutraceutical products derived from decades of research by Dr. Kevin Buckman. Dr. Buckman has created more than a dozen formulas which are intended to address some of the nutraceutical needs of individuals for wellness and health maintenance.
Dr. Buckman has created more than a dozen formulas which are intended to address the underlying needs of individuals suffering from what he calls "DDS" (Degenerative Disease Syndrome). This includes such maladies as gastrointestinal disorders, auto-immune diseases, asthma, arthritis, diabetes, arthritis, cancer, and heart disease. In addition, Dr. Buckman describes his "Broadspectrum" health drink as the "World's Healthiest Drink," in part because it includes nutrients from the land and sea from around the world, and it is rich in many nutrients that may be lacking in the modern diet. This is based on his decades of research in this field.
About Viratech Corp.
Based in Stockton, California, Viratech Corp., which just announced its acquisition of Cancer.im, http://www.youtube.com/watch?v=dz1tHRb3wvU, has created an open source biotech research and development platform. Viratech has created a unique platform leveraging the utility of social collaboration, which will allow cancer research the opportunity for the first time to become open sourced. This is accomplished by allowing our development partners the ability to protect, promote and produce their research in unified online collaboration hubs known as micro social networks. Viratech's open source platform has integrated several intellectual property tools which, by leveraging our social collaboration network, can give our development partners a new intellectual property mechanism, which will help in addressing the protection of Intellectual Property, promotion through collaboration in our protected open source platform, and commercial development of the products achieved through collaborative research.
Using this platform, Viratech members can protect their intellectual property, then use Viratech's micro social network as a utility to promote and crowdfund the research and development to produce the new technology.
Kevin Buckman MD
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