In May of 2022, We changed the name of our Company from Marijuana Strategic Ventures, Inc. to Mushrooms, Inc. with the goal to capitalize on the growth of the mushroom industry through collaboration, innovation, and development of mushroom-related technologies and formulations. *Reference the section of this Offering Circular designated as Corporate History for more detailed information about corporate structure and our history.
Our common stock trading symbol is MSRM and is quoted on the OTC Markets Group, Inc. Pink Tier, where we are listed as Pink Current Information.
Our mission is to use the unique properties of mushrooms to better the environment while creating unique health and textile products.
Our current focus is on the industrial application of mycelium for the creation of carbon-neutral products for the building and health care industries, as well as creating supplements based on the proven health benefits of mushrooms. Mycelium is the root-like structure of a fungus.
The Company’s exclusively licensed patent application includes a unique method for generating mycelium thread. Mushrooms Inc. believes this thread will create new textile materials and replace the most commonly used petroleum-based fabrics.
Provisional Patent Filed – On August 17, 2022, the licensing inventors filed patent application no. 63/371,683 with the USPTO, titled “Method For Mycelium Thread Generation”.
Exclusive License Agreement
Under the Exclusive License Agreement, dated August 22, 2022, between Mushrooms, Inc. and the developers of the novel mushroom thread generation technology, Mushrooms, Inc. acquired the rights to future revenue generated by the market adoption of the technology.
With attainable milestones in place for Mushrooms Inc. including the production of an operable prototype incorporating the Technology by June 30, 2023 and commercialization by September 30, 2023 they look to use its reasonably best commercial efforts to achieve sales. With an agreed 90% royalty of net sales as well as 90% of any products obtained from operation of all Devices on a country by country basis, Mushrooms Inc. has secured this exclusive license agreement with a wide margin of profitability.
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