- Wholly
owned subsidiary Mariner IC Inc. completes another successful licensing
campaign around its Anchor Structure Portfolio
- Patent
Licensing Revenues for the nine-months ended September 30, 2019 were
approximately $2 million
- The
company remains active in monetizing its existing portfolio as well as
evaluating potential acquisitions
- QPRC
trades on the OTCQB, offering investors an exciting opportunity to
participate in the IP monetization space
The Anchor Structure Portfolio, acquired by company Quest
Patent Research Corp. (OTCQB: QPRC) from Intellectual Ventures in
October 2015 and transferred to wholly owned subsidiary, Mariner IC Inc.,
consists of two United States patents which relate to technology for
incorporating metal structures in the corners and edges of semiconductor dies
to prevent cracking from stresses.
Following the execution of funding agreements and the
engagement of counsel, in 2016, Mariner IC brought patent infringement suits in
the United States District Court for the Eastern District of Texas against
MediaTek Inc., Texas Instruments Incorporated, LG Electronics Inc., Toshiba
Corporation. Those cases were resolved in 2017, generating licensing fees of
approximately $1.2 million.
In 2018, Mariner IC brought patent infringement suits in the
United States District Court for the Eastern District of Texas against Sharp
Corporation, AsusTek Computer Inc., TiVo Corporation and Huawei Device Co., Ltd
et. al. As of September 30, 2019, the action against Huawei is currently stayed
pending settlement and the actions against TiVo, AsusTek and Sharp were
dismissed. Revenues for the period ended September 30, 2019, which were
approximately $2 million according to the Company’s most recent quarterly
report (http://ibn.fm/3gvxA),
includes the revenue from these cases.
“IP monetization poses significant risks. Not only do you
have to prove infringement, but a defendant can raise up to 27 patent defenses,
any one of which can be case dispositive if successful. Our assets have to
survive quite a gauntlet. The success of the Mariner campaigns certainly
demonstrates management’s ability to identify, acquire and monetize valuable
intellectual property,” Quest CEO Jon Scahill stated in a news release. “IP
monetization is complex, costly and takes time to realize. We constantly
evaluate ways to mitigate risk, reduce cost and accelerate the timing of our
licensing efforts. Management has a clear vision for building long-term value
centered around monetizing our existing portfolio as well as continuing to
expand our portfolio of valuable IP. The objective is to replicate, many times
over, the success shown by the Mariner campaigns.”
The Company has been extremely active in harvesting its
existing portfolio of IP assets. Through the end of the third quarter,
Quest has partially or fully resolved 8 cases with an additional 7 cases
successfully stayed pending settlement.
Quest announced its listing on the OTCQB index in May as
part of its growth efforts and plans to continually build financing and revenue
sources (http://ibn.fm/ItqLX).
The company’s annual revenues have grown from around $200,000 in 2015 to $7
million in patent licensing fees last year.
For more information, visit the company’s website at www.QPRC.com
NOTE TO INVESTORS: The latest news and updates
relating to QPRC are available in the company’s newsroom at http://ibn.fm/QPRC
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Editor@QualityStocks.com
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
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