Let me rephrase what I said....
I suspect certain CLAIMS of our patents have been infringed. I say this because there are many partial monitoring tools in the form of apps that can be downloaded free, or a wireless carriers products come with an app installed free.
The apps that are out there do parts and pieces of our patents, such as setting time outs, geophencing, speed controls...
No matter how you slice it, based on some past experience in this area, I'm suspicious.
As for WebSafety doing anything about it in the form of intellectual property infringement lawsuits....dont count on it any time soon.
IP litigation is very costly. Looking at retainers upwards of 30K per month, a split of 33.33/66.67 or as much as 40/60. Then it takes 18 months to 2 years to settle a case and collect on a patent license.
The company can't afford this right now, so unless Day can negotiate a contingency fee arrangement with zero out of pocket, nothing will be done about it.
I don't remember right now the date on the patents, but I think they are about 4 years old? Depending on his date of submission, I think we have about 15 years left on the patents...corrections welcomed.
So as I see it, we launch version 2, start making some money, and down the road, way down the road, we bring any thieves to court.
I have no knowledge of what is going on for sure, I don't know Day's plan, I'm just offering my thoughts.
When he press releases the launch, gets current with SEC stuff, assume his plan will slowly be told.
Getting off the pinks and moving back to OTCQB is a costly move in itself, let alone suing the big boys.
