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CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement
On September 22, 2022, Todos Botanicals, Inc., a wholly owned subsidiary of Todos Medical Ltd.. (collectively “Todos” or the “Company”) entered into entered into a distributor agreement (the “Agreement”) to supply its proprietary 3CL protease inhibitor immune support dietary supplement Tollovid™ and botanical ‘0% THC’ CBD products in pill, tincture, gummy, candy and cream finished products to Nerd Hemp, Inc., an automated retail (AI Retail) machine company focused on the distribution of CBD products. AI Retail machines are similar to vending machines; however, they use artificial intelligence to monitor product supply to optimize the re-ordering and stocking process. The new Tollovid and CBD products for the AI Retail machines will be manufactured in different adult and pediatric formulations in Todos’ newly leased Cleburne, Texas-based facility. Nerd Hemp has already been contracted to install 5500 AI Retail machines across the United States in retail outlets including airports, shopping centers, universities, sporting venues, fitness centers, bars, and grocery outlets. These AI Retail machines are located in high traffic and secure locations very similar to the Redbox model. The first deliveries are expected to take place in October in grocery outlets like Lowes Markets, a privately held grocer with over 140 locations in the southwestern United States. Todos believes that it could accrue as much as $11.5 million in revenue in the fourth quarter of 2022 from this contract as Nerd Hemp commences its nationwide rollout.
The Agreement is furnished as Exhibit 10.1 to this current report on Form 8-K. The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the Agreement.
| Exhibit No. | Description | |
| 10.1 | Contract Manufacturing and Packaging Agreement, dated September 19, 2022, by and between Sky-Raider, LLC Nerd Hemp and Nerd brands % Legal Ease, and Todos Botanicals Inc. | |
| 104 | Cover Page Interactive Data File (embedded within the inline XBRL Document) |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: September 29, 2022
| TODOS MEDICAL LTD. | ||
| By: | /s/ Gerald Commissiong | |
| Gerald Commissiong | ||
| Chief Executive Officer | ||
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