Printer Friendly
The Free Library
19,573,952 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Affinity Announces Official Notification of the Successful Conclusion of the Reexamination of Its Financial and Credit Account Patent.


COLUMBIA, S.C. -- Affinity Technology Group, Inc. (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
:AFFI) today announced that the U.S. Patent and Trademark Office (PTO PTO
abbr.
1. Parent Teacher Organization

2. or p.t.o. please turn over

3. power takeoff


PTO or pto please turn over

Noun 1.
) posted on its Patent Application Information Retrieval information retrieval

Recovery of information, especially in a database stored in a computer. Two main approaches are matching words in the query against the database index (keyword searching) and traversing the database using hypertext or hypermedia links.
 (PAIR) system database a "Notice of Intent to Issue Ex Parte [Latin, On one side only.] Done by, for, or on the application of one party alone.

An ex parte judicial proceeding is conducted for the benefit of only one party.
 Reexamination re·ex·am·ine also re-ex·am·ine  
tr.v. re·ex·am·ined, re·ex·am·in·ing, re·ex·am·ines
1. To examine again or anew; review.

2. Law To question (a witness) again after cross-examination.
 Certificate" relating to relating to relate prepconcernant

relating to relate prepbezüglich +gen, mit Bezug auf +acc 
 its U.S. Patent No. 6,105,007 entitled "Automatic Financial Account Processing System". Although the Company has not yet received the Notice from the PTO, the posting of the Notice on PAIR constitutes an official notification and cites the "Reasons for Patentability / Confirmation." The Notice indicates the Reexamination resulted in the full allowance of all the claims of the Company's U.S. Patent No. 6,105,007.

Joe Boyle, Chairman, President and Chief Executive Officer, stated, "This is a significant event in our defense of our patents. Not only does it represent the conclusion of a two-year reexamination process associated with U.S. Patent No. 6,105,007, but it represents a successful conclusion to the seven year process in which we have also successfully defended, through reexamination, our other two patents, U.S. Patent Nos. 5,870,721 and 5,940,811. We consider this a significant validation of our patents and our decision to exploit the value of our patents through a patent licensing business model. The continuous reexaminations of our patents have inhibited our licensing program over the past seven years and our ability to attract capital resources. Our next challenge will be to secure the capital resources to continue the operations of the Company and realize the maximum value from our patent portfolio."

About Affinity Technology Group, Inc.

Through its subsidiary, decisioning.com, Inc., Affinity Technology Group, Inc. owns a portfolio of patents that covers the automated processing and establishment of loans, financial accounts and credit accounts through an applicant-directed remote interface, such as a personal computer or terminal touch screen. Affinity's patent portfolio includes U. S. Patent No. 5,870,721C1, No. 5,940,811C1, and No. 6,105,007.

Forward-looking statements forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
 in this news release are made pursuant to the safe harbor Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
 provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995. Investors are cautioned that our business is subject to several substantial risks and uncertainties, including the Company's very limited capital resources and the possibility that we may be unable to raise additional capital in amounts sufficient to permit it to continue its operations; the risk that we may lose all or part of the claims covered by our patents as a result of challenges to our patents; the risk that our patents may be subject to additional reexamination by the U.S. Patent and Trademark Office or challenge by third parties; the possibility all or some of the holders of the convertible secured notes issued by the Company may take action to collect the amounts outstanding under these notes; the result of ongoing litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute.

When a person begins a civil lawsuit, the person enters into a process called litigation.
; and unanticipated costs and expenses affecting the Company's cash position. If the Company is not able to raise additional capital immediately, it may be forced to consider alternatives for winding down its business, which may include offering its patents for sale or filing for bankruptcy protection. Moreover, if any of the holders of the convertible notes issued by the Company take action to collect the amounts owed by the Company under these notes, the Company will be forced to consider alternatives for winding down its business, which may include offering its patents for sale or filing for bankruptcy protection. These and other factors may cause actual results to differ materially from those anticipated.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1USA
Date:Mar 30, 2006
Words:588
Previous Article:AZCAR Announces Record Revenue of C$58 Million in 2005.
Next Article:Stephen M. Mooney Named Senior Vice President of Tenet's Patient Financial Services.



Related Articles
ORTEC SUCCESSFULY DEFENDS EUROPEAN PATENT ON ORCEL.
Affinity Appoints Exclusive Licensing Agent.
Should your school be a financial services provider? It's no longer enough to provide an education; many schools now provide credit, banking...
Ameritrade and Federated Request Reexamination of Financial Account Patent.
Patent Office Grants Request for Reexamination of Financial Account Patent.
Affinity Announces 2004 Financial Results and Receipt of Notice to Issue Reexamination Certificate on U.S. Patent No. 5,940,811.
Affinity Comments on Entry Posted on the U.S. Patent and Trademark Office's Website.
Affinity Announces 2005 Financial Results and Updates Patent Licensing Initiatives.
Affinity Anounces Sale of Additional Convertible Notes under Its Convertible Note Program.
Affinity Announces First Quarter Results.

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles