News: Hydro flight patent acquired by Zapata:
Zapata Industries Announces the Acquisition and Consolidation of Hydro-Flight Intellectual Property Rights in the US and Abroad
MARSEILLES , FRANCE -- (Marketwired) -- 08/17/16 -- Zapata Industries (www.zapata-industries.com), which has executed a Letter of Intent for purchase by Implant Sciences Corporation(OTCQB: IMSC), is excited to announce Zapata's acquisition of the strongest patent portfolio in the field of hydro-flight, which now positions Zapata to serve as the exclusive manufacturer, importer and distributor of hydro-flight products in and throughout the United States. This newly acquired patent portfolio complements and bolsters Zapata's already existing global patent portfolio in the field of hydro-flight.
By way of this acquisition, Zapata now owns the original and pioneering hydro-flight patents dating back as early as 2004 which provided the world's first glimpse into the field of hydro-flight. In 2012, Franky Zapata filed for and obtained additional, independent patent rights that further birthed what is today recognized as the continually-expanding recreational hydro-flight industry. The consolidation of these patent rights immediately paves the way for Zapata to significantly increase sales of its existing product lines throughout the United States and abroad. This transaction also allows for new hybrid products to be developed that enjoy the combined, multi-faceted protection of patents within Zapata's growing patent portfolio.
With reference to the acquisition, Franky Zapata (Zapata's CEO) stated: "I am excited to announce the acquisition and consolidation of these patent rights. This transaction will unlock substantial sales in the United States which was previously unavailable to us. Zapata is also positioned to make significant advancements in a new range of proprietary and disruptive products, the first of which I look forward to unveiling in 2017."
Gregg Donnenfeld, Chief Operating Officer and General Counsel of Zapata, commented: "This acquisition solidifies Zapata's position as the leading patent owner in the field of hydro-flight technologies, and Zapata intends to vigorously enforce its patent portfolios to eradicate the marketplace of all infringing products. Zapata's hydro-flight patents, coupled with Zapata's additional patent portfolios in the field of air-propelled aviation, results in a best-in-class patent portfolio with far reaching military, industrial, and consumer applications, which Zapata looks forward to pursuing as part of Implant Sciences."
About Zapata Industries
Zapata Industries is the undisputed leader in developing and manufacturing hydro- and jet-powered technologies and products. Zapata's proprietary methodology, algorithms, and patented designs are currently commercialized and in development within the recreation, entertainment, military, medical, and industrial sectors.
Zapata Industries' founder, world champion jet ski racer Franky Zapata, launched Zapata Racing to satisfy his passion to invent aftermarket products to make the world's fastest personal water craft. With unparalleled performance, Zapata products quickly became a racing requirement to achieve the competitive edge necessary to win. With the desire to go even faster, Zapata shifted focus, and began manufacturing the fastest sit down and stand up jet skis in the racing world.
In 2012 Zapata launched the revolutionary Flyboard®, kick starting a niche $200 million Hydro flight Sports and Recreation industry. Hydro-flight is still in its earliest stages of growth and development, and the unweaning market demand provides a view for Zapata's opportunity to further commercialize the industry in the coming years.
In 2016 Zapata achieved its proof of concept goal producing the safest, most reliable, lightest, fastest, and least expensive personal flight system ever created with the unveiling of the Flyboard Air®. The Flyboard Air® utilizes Zapata Industries' proprietary algorithms and balance methodology to direct jet engines to act both independently and harmoniously. The performance parameters of the Flyboard Air® provide undisputed proof that Zapata technology is commercially viable for advanced applications within the military, industrial, and medical fields.
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