This is a public record generated listing.
Copyrights of OnSite Dispensing Software
Listing Information
Attachments
Copyrights of OnSite Dispensing Software
Minimum Price: $900,000.00
Other Item Info
Item #: txnbke_394947
Created: 10/04/2014
Category: Business Property > Intellectual Property > Licenses/Intellectual Property
Sale Date: None Set
Created: 10/04/2014
Category: Business Property > Intellectual Property > Licenses/Intellectual Property
Sale Date: None Set
Seller Info
Arnaldo Nelson Cavazos
Trustee's Attorney
Suite 570, Founders Square900 Jackson St.
Dallas, TX 75202
Trustee's Attorney
Suite 570, Founders Square900 Jackson St.
Dallas, TX 75202
Bankruptcy Info
Case #: 3:13-bk-30267
Case Title: OnSiteRX, Inc.
Court: Texas Northern Bankruptcy Court
Chapter: 7
View Case Docket
Case Title: OnSiteRX, Inc.
Court: Texas Northern Bankruptcy Court
Chapter: 7
View Case Docket
Description
Sale of Assets related to three (3) business entities, (i) Provider Meds, LP ("PM"); (ii) OnSiteRx, Inc. ("OnSite") and (iii) ProvideRx of San Antonio, LLC ("San Antonio"). The Assets are more described below:
- all rights, title and interest of PM, OnSite and San Antonio in the Source Code and in the Source Code IP (the Source Code and the Source Code IP are collectively referred to herein as the "IP Assets");
- San Antonio's sale to CERx of substantially all other assets of the San Antonio estate, including, without limitation, all intellectual property rights, all potential claims and causes of action against third parties and rights to or under the Tech Pharm License (as defined in the Settlement Agreement), but excluding accounts receivable and bank accounts; and
- PM's sale to CERx of PM's rights to or under the Tech Pharm License (the foregoing assets are collectively referred to herein as the "Assets").
The entities were engaged in the business of remote dispensing and sale of prescription pharmaceuticals to long term care facilities from dispensing machines located at these facilities. The remote dispensing system was operated electronically through the Source Code and related software. This Source Code and related software system was developed in 2010 and 2011.
Financial Overview
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Asset and Liability Summary ($)
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Additional Details
The total amount to be paid for the Assets is $900,000, of which $240,000 will be paid by RPD and $660,000 will be paid by CERx.
The Agreement compromise and settlement of their (entities) competing claims to ownership of, and/or rights in, the Source Code, related intellectual property, and certain software license rights relating thereto. Under the settlement of the ownership dispute the PM estate will receive $650,000, of which $50,000 has been earmarked by Trustee Reed for payment of allowed unsecured claims; the OnSite estate will receive $150,000; and the San Antonio estate will receive $100,000.