PRED Predictive Technology Group Inc (CE)

Item 1.01- Entry into a Material Definitive Agreement

On April 1, 2020 the Predictive Laboratories, Inc., a wholly owned subsidiary of Predictive Technology Group, Inc., entered into an agreement captioned Exclusive Distribution Services Agreement with Wellgistics, LLC. Under the terms of the agreement (i) Wellgistics will act as Predictive’s exclusive distributor of Assurance AB Test (COVID-19 IgM/IgG Rapid Antibody Test), (ii) Wellgistics is placing an initial purchase order for 1,000,000 tests, (iii) Wellgistics will receive warrants to purchase 1,500,000 shares of Predictive Technology Group, Inc.’s common stock at $.86 per share, and (iv) Predictive is to supply the 1,000,000 tests to Wellgistics as quickly as possible.

The Assurance AB test was developed to detect the presence of IgM and/or IgG antibodies to the SARS-CoV-2 virus. The test requires only a finger stick to sample a patient’s blood which is then placed on the self-contained test device. The test takes 15-minutes to display results. The test results indicate the presence of antibodies associated with the SARS-CoV-2 virus.

The test is for use in clinics, hospitals and test sites (point-of-care) under the Company’s notification with the U.S. Food and Drug Administration (FDA). The Company has filed two applications for Emergency Use Authorization (EUA) with the FDA for point-of-care use and for in-home use.  If the FDA approves the EUA for in-home use the Company may make the test available for in-home use. The self-contained test does not require a lab or laboratory equipment for results.

About Wellgistics:

Over the past few years, Wellgistics, LLC, has been one of the fastest growing wholesale pharmaceutical distributor in the United States. It is a logistics leader in the complex healthcare supply chain, but is about more than just delivery.  It focuses on both seeking out real-time information and remaining operationally nimble, making it the leader in response time and flexibility to dynamically changing industry needs. While focusing strongly on customer communication, Wellgistics purchases healthcare products directly from manufacturers only (or approved affiliates on some non-prescription products) and delivers safely, securely and efficiently to thousands of pharmacies, hospitals, long-term care facilities, clinics and other healthcare providers across the country to help keep their shelves stocked with the medications and products that patients need.

Wellgistics is licensed in all 50 states as a Pharmaceutical Wholesale Distributor and is also licensed or permitted as Third-Party Logistics provider in all states.  Its distribution facility located in Lakeland, FL is VAWDÒ accredited by the National Association of Boards of Pharmacy.

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