GEMAXEL INC

GEMAXEL INC operates as a technology company focused on monetizing its intellectual property and digital assets. On May 16, 2011, the company spun off the majority of its operations and related assets to Worlds Online Inc. (now MariMed Inc.). On January 18, 2022, GEMAXEL INC reacquired specific intellectual property from its CEO, Thom Kidrin, which Mr. Kidrin had obtained through a settlement with MariMed Inc. The purchased assets include the Worlds' technology platform, Worlds Ultimate Chat, Aerosmith World, DMC Worlds, Cinema Virtual, Pearson contracts and related revenue, URLs such as Worlds.com, Cybersexworld.com, Hang.com, and Worldsfunds.com, a digital inventory of over 10,000 3D objects, animation sequences, an extensive avatar library, texture maps, and virtual world architectures. Currently, GEMAXEL INC is focused on monetizing its collection of non-fungible tokens and its legacy celebrity virtual reality worlds. The company also develops additional applications using its technology to address anticipated niche market needs. As of December 31, 2024, GEMAXEL INC owns 349,697 shares of MariMed Inc. common stock. Historically, before the spin-off, GEMAXEL INC was a 3D entertainment portal that utilized its proprietary technology to provide a network of virtual, multi-user environments called "worlds." These online environments featured animation, motion, and content, allowing users to shop, interact, attend events, and be entertained. The company designs and develops software, content, and related technology for creating interactive, 3D Internet websites, both its own and those for third-party online service providers. GEMAXEL INC continues to seek business partners to leverage its intellectual property.