BioLargo revokes technology license granted to Pooph

BioLargo (BLGO) announced that it had revoked the technology license granted to Pooph and was terminating the license agreement, after Pooph failed to meet its contractual obligations, including payments owed to BioLargo totaling approximately $3.8M. BioLargo’s formal notice advised that Pooph is no longer allowed to market or sell products that incorporate, use, or are based on, in whole or in part, BioLargo’s patents and proprietary information, including but not limited to know-how, disclosed to Pooph, and that absent reinstatement of the grant of license, Pooph must immediately stop marketing and selling any such products in its possession, custody or control. Pooph’s emergence as a nationally recognized consumer brand was made possible by BioLargo’s products, technical and commercial know-how, extensive market experience, and the collaborative business relationship between the parties. Powered by BioLargo’s proprietary technology, Pooph products reached more than $50M in annual sales and earned tens of thousands of positive customer reviews.