India, Oct. 27 -- SecureTech Innovations Inc. (SCTH), a technology company, on Tuesday announced that it has acquired an exclusive, perpetual worldwide license to QSTAK Holding LLC's blockchain and related technologies for up to $22 million in preferred stock.
The company said it has also formed QSTAK Market LLC, a joint venture majority-owned by its subsidiary Piranha Blockchain Inc.
The license consideration of up to $22 million will be paid in preferred stock in four tranches.
The first tranche, valued at $6 million, was earned at closing.
A second tranche of $3 million will be earned upon the commercial launch of the QSTAK Exchange.
The company will issue an additional $6.5 million in preferred stock when QSTAK Market reaches $7.5 ...