0001493152-20-019001.txt : 20201006 0001493152-20-019001.hdr.sgml : 20201006 20201006135245 ACCESSION NUMBER: 0001493152-20-019001 CONFORMED SUBMISSION TYPE: 1-U PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20200930 ITEM INFORMATION: Other Events FILED AS OF DATE: 20201006 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Quara Devices Inc. CENTRAL INDEX KEY: 0001770427 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] IRS NUMBER: 833849880 STATE OF INCORPORATION: WY FISCAL YEAR END: 1219 FILING VALUES: FORM TYPE: 1-U SEC ACT: 1933 Act SEC FILE NUMBER: 24R-00336 FILM NUMBER: 201226280 BUSINESS ADDRESS: STREET 1: 1712 PEARL STREET STREET 2: BOULDER CITY: BOULDER STATE: CO ZIP: 80302 BUSINESS PHONE: (888) 887-6658. MAIL ADDRESS: STREET 1: 1712 PEARL STREET STREET 2: BOULDER CITY: BOULDER STATE: CO ZIP: 80302 1-U 1 form1-u.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 1-U

Current Report Pursuant to Regulation A

Date of Report (Date of earliest event reported): September 30, 2020

Quara Devices Inc.

(Exact name of issuer as specified in its charter)

Wyoming

83-3849880

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer
Identification No.)

1712 Pearl Street

Boulder, CO 80302

(Full mailing address of principal executive offices)

+1 (888) 887-6658

(Issuer’s telephone number, including area code)

Common Stock

(Title of each class of securities issued pursuant to Regulation A)

Item 9.

Other Events.

Termination of an Assignment of Intellectual Property Rights and a Research License and Royalty Calculation Agreement.

On March 26, 2019, Quara Devices Inc. (dba Edoceo Devices) (“Edoceo”) entered into an Assignment of Intellectual Property Rights (the “Assignment”) and a Research License and Royalty Calculation Agreement (the “License Agreement”) with Pebble Labs USA Inc. (“Pebble Labs”), under which, following Edoceo’s payment of $500,000 by September 30, 2020, Edoceo would acquire intellectual property rights associated with Pebble Labs’ proprietary FRET biosensor protein including a provisional patent therefor and, under an ancillary Quitclaim Assignment (collectively with the Assignment and the License Agreement, the “Agreements”) entered into on August 22, 2019, Edoceo would acquire all additional technology related to such patent to which Pebble Labs may have contributed in some degree to conceiving or developing. On September 30, 2020, Pebble Labs notified Edoceo that, due to non-payment of the $500,000 purchase price by the required date, (1) the Agreements are terminated and (2) in the absence of a future agreement between the parties Edoceo has no rights to the patent referred to above or any of the intellectual property rights related thereto. Additionally, Pebble Labs has applied for a trademark for the mark “Quara Devices” and has asserted that Edoceo has no rights to such trademark in the absence of a future agreement between the parties.

Edoceo remains optimistic that they will reach a satisfactory resolution with Pebble Labs and management believes Edoceo will be able to continue operating in a manner substantially similar to that described in its offering circular filed as part of its offering statement on the Form 1-A without the Assignment and License Agreement with Pebble Labs.

SIGNATURES

Pursuant to the requirements of Regulation A, the issuer has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Quara Devices Inc.

	By:	/s/ Rodney Reum
	Name:	Rodney Reum
	Title:	Chief Executive Officer

	Date:	October 6, 2020