Replies to post #7059 on Charlestowne Premium Beverages Inc. (FPWM)

[edfrank]

hasher5:

I looked it up as it was referenced in that recent PR as a basis for what the company was going to do. At first glance this looks like assignments from two of three listed patent (application) holders. I don't know enough about patent law to know if PWTC can then go ahead without the assignment from the third (Snaper).

edfrank

Power Technology Acquires Patent Assignments
for Battery Technology


HOUSTON, Oct 13, 2004 (PRIMEZONE via COMTEX) --

Power Technology, Inc. (OTCBB:PWTC) announced today the Company has acquired formal written assignments from Joey Jung and Elod Gyenge, two inventors of the battery technology and improvements that are subject of an application for United States Patent signed by them. Under intellectual property law, Power Technology, Inc. now has the right to fully commercialize these patent rights and to sell battery products based on this unique technology. Regardless of the outcome of the Company's lawsuit with Alvin Snaper, Power Technology, Inc. now has the legal right to manufacture and sell the battery without Alvin Snaper's consent and the Company will not be obligated to account to him for its profits. Specifically, the US Patent Code, Article 35 USC 262, provides: "In the absence of any agreement to the contrary, each of the joint owners of a patent may make, use, offer to sell, or sell the patented invention within the United States, or import the patented invention into the United States, without the consent of and without accounting to the other owners."

Bernard J. Walter, CEO of Power Technology, stated, "The acquisition of the formal assignments of these patent rights for the Company's battery technology assures us of the opportunity to commercialize and sell our batteries. We are delighted to inform our shareholders of this development and assure them of our ability to fully exploit our patents. Prototype batteries for testing and sale are currently under development, and we expect to deliver the first units for industry testing by the first quarter of 2005."

The patent applications are entitled CURRENT COLLECTOR STRUCTURE AND METHODS TO IMPROVE THE PERFORMANCE OF A LEAD-ACID BATTERY, filed March 26, 2004, and assigned U.S. Serial Number 10/809.791, and to the inventions and improvements which are subject to International Patent Application Number PCT/US02/30607 filed September 25, 2002, at the World Intellectual Property Organization under the Patent Cooperation Treaty (PCT) entitled CURRENT COLLECTOR STRUCTURE AND METHODS TO IMPROVE THE PERFORMANCE OF A LEAD-ACID BATTERY.