$360M Market Cap Makes this 5 dollar Stock & that's being very conservative. All bets are, that this could reach well over $10 a share in the foreseeable future.
News for 'WLGC' - (WordLogic Patent Infringement Analysis Reveals up to 1 Billion Infringing Units, $360M in Royalties)
VANCOUVER, British Columbia, Jan 5, 2011 (GlobeNewswire via COMTEX) -- Frank
Evanshen, CEO of WordLogic Corporation (OTCBB:WLGC) today announced that an
initial patent infring ement study has been performed by San Diego-based Thibault
Patent Group under the direction of WordLogic Mobile Technology Director Michael
Flom. Based on the study, WordLogic estimates that as many as 77 million
infringing products were sold during 2010 in the U.S. alone, potentially worth
up to $19 million in licensing royalties.
"We intend on monetizing our patent portfolio by initiating licensing
negotiations with a number of technology companies who we believe to be unfairly
benefiting from our intellectual property," says Mr. Evanshen. "We are prepared
to take whatever legal steps are necessary to protect our valuable intellectual
property rights."
WordLogic also continues to market its current products, while staying on the
cutting edge in product development.
The patent infringement study reveals that many popular electronic products,
such as smartphones, PC Browsers, media players, and other devices, infringe
Word logic's patents.
"This initial patent infringement study underscores our ongoing commitment to
continually evaluate the marketplace to identify infringing products," explains
Mr. Evanshen. "Thus, we may find that, in the future, the number of infringing
products may increase, and with it potential royalties owed to WordLogic."
"The study also found that the number of products produced annually that may
infringe on our patent portfolio is steadily increasing," says Mr. Evanshen,
noting that, "In 2011, we expect up to 82 million infringing products to be
shipped in the U.S., creating potential licensing royalties of up to $20.5
million USD."
"By year-end 2014, we project that the cumulative number of infringing products
in the marketplace will reach as many as 1.4 billion units worldwide, with
potential cumulative licensing royalties of up to $360 million USD. This amount
does not take into account possible treble damages for w illful infringement,"
says Mr. Evanshen.
WordLogic (www.wordlogic.com) is the developer of patent-protected predictive
text software used in input and Internet-based search applications. WordLogic
offers advanced methods of text and information entry into personal computing
devices ranging from small handheld mobile devices like smartphones to tablet
and desktop computers. "WordLogic patents have real inherent value, based not
only on their massive number of applications in the marketplace today, but also
future applications," according to Mr. Evanshen.
WordLogic has six additional patents pending with the USPTO.
For more information about WordLogic Corporation, visit www.wordlogic.com. To
send a message via Twitter, contact us at www.twitter.con/wordlogiccorp. or
visit us on Facebook, www.facebook.com/wordlogiccorp. WordLogic headquarters is
located at 1130 West Pender Street, Suite 230, Vancouver, BC, Canada. Telephone:
1.866.WORDLOGIC (main office); Frank Evanshen, CEO, 1 +604.257.3660,
fevanshen@wordlogic.com; Roger Sichel, Director of Business Development, 1 +
914.589.5848, rsichel@wordlogic.com.
Except for the historical information contained herein, the matters discussed in
this news release are forward-looking statements and are subject to risks and
uncertainties. See WordLogic's filings with the US Securities and Exchange
Commission which identify specific factors that may cause actual results or
events to differ materially from those described in the forward-looking
statements.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: WordLogic Corporation
By Staff
CONTACT: CONTACT: Biller Communications
Media Contact:< BR>
Aaron Biller
212.663.4862
abiller@BillerCommunications.com
(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.
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INDUSTRY KEYWORD: Computer Software and Services
SUBJECT CODE: SOFTWARE
INTERNET
COMPUTERS
Product&nb sp; Services Announcement
Patents
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