Interbit™ Provides Patent and Strategic Review Update
09 Janeiro 2020 - 11:25AM
INTERBIT LTD. (TSX Venture: IBIT) (the
“
Company”) is pleased to announce that it has
filed national phase applications in China for all six of its
Patent Cooperation Treaty applications (see the Company’s November
29, 2019 press release), the first step in the patent process in
China. Substantive examination requests have been made for
all such filings.
The Company believes that pursuing patent
protection in China for the technologies it is seeking to develop
is a crucial part of its patent strategy moving forward, as the
focus of the intellectual property world increasingly shifts
towards Asia, with China’s State Intellectual Property Office
(SIPO) receiving a record 1.54 million patent applications in 2018,
or nearly half the global total1.
Furthermore, seeking patent protection in China
for our technologies seems ever more important since Chinese leader
Xi Jinping called for an acceleration of blockchain development in
China at a Politburo study session in October.
The next step in the process will be official
confirmation from the Examination Department of SIPO in China of
receipt of our applications, after which examiners in that
department will conduct a preliminary examination of each of our
patent applications.
In addition, in the United States, the Company
has filed expedited examination requests for its Hypervisor,
Hyperconvergence and Payload Layer applications. As
previously announced, the Company has already filed an expedited
examination request in the United States for its Chainception
patent application, and expects initial feedback in early 2020.
STRATEGIC REVIEW
The Company continues to work with Xinova, LLC
on a review and audit regarding the functionality and development
of the Interbit™ platform. In conjunction with this, the
Board is reviewing all strategic options and expects to provide an
update to shareholders in Q1 2020.
The Company is also in the process of winding up
all UK subsidiaries, given the departure of UK based
employees.
ABOUT THE COMPANY
The Company owns and is developing proprietary
technologies and is listed on the TSX Venture Exchange.
For further information please
contact:
Brian Hinchcliffe, CEOPhone:
+1-914-815-2773Email: investor@interbit.ioWebsite:
www.interbit.io
CAUTIONARY NOTE REGARDING
FORWARD-LOOKING STATEMENTS
Certain statements in this release are
forward-looking statements, which include, the timing, development,
launch and success of the Company’s technologies and products
(including, without limitation, successful development and
commercialization of the Interbit™ platform), timing of
receipt of feedback in respect of patent application examinations,
successful receipt of patents in connection with the Company’s
patent applications, and other matters. Forward-looking statements
consist of statements that are not purely historical, including any
statements regarding beliefs, plans, expectations or intentions
regarding the future. Such information can generally be identified
by the use of forwarding-looking wording such as “may”, “expect”,
“estimate”, “anticipate”, “intend”, “believe” and “continue” or the
negative thereof or similar variations. Readers are cautioned not
to place undue reliance on forward-looking statements, as there can
be no assurance that the plans, intentions or expectations upon
which they are based will occur. By their nature, forward-looking
statements involve numerous assumptions, known and unknown risks
and uncertainties, both general and specific, that contribute to
the possibility that the predictions, estimates, forecasts,
projections and other forward-looking statements will not occur.
These assumptions, risks and uncertainties include, among other
things, the state of the economy in general and capital markets in
particular, the development of competitive technologies, the
marketplace acceptance of the Company’s technologies and products,
as well as those risk factors discussed or referred to in the
Company's annual Management's Discussion and Analysis for the year
ended December 31, 2018 available at www.sedar.com, many of which
are beyond the control of the Company. Forward-looking statements
contained in this press release are expressly qualified by this
cautionary statement.
The forward-looking statements contained in this
press release are made as of the date of this press release.
Except as required by law, the Company disclaims any intention and
assumes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. Additionally, the Company undertakes no obligation to
comment on the expectations of, or statements made by, third
parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its
Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
___________________________
1
https://fortune.com/longform/asia-patents-china-us/
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