Affinity Announces Termination of Agreement with LPS Group.Business Editors/High-Tech Writers COLUMBIA, S.C.--(BUSINESS WIRE)--May 1, 2003 Affinity Technology Group, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AFFI) today announced that its patent licensing subsidiary, decisioning.com, Inc., has notified LPS LPS - Sets with restricted universal quantifiers. ["Logic Programming with Sets", G. Kuper, J Computer Sys Sci 41:44-64 (1990)]. Group that it is terminating its exclusive patent licensing agreement with LPS Group effective immediately. The Company terminated the agreement because Dooyong Lee, the president of LPS Group, resigned his position with LPS Group to join another patent licensing firm. The Company is evaluating its alternatives, which may include engaging a new patent licensing agent or law firm to pursue its patent licensing program. About Affinity Technology Group, Inc. Through its subsidiary, decisioning.com, Inc., Affinity Technology Group, Inc., owns a portfolio of patents that cover 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. 5,870,721, No. 5,940,811, 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. We cannot assure you that we will be able to license any of our patents. Moreover, we cannot assure you that our patents will not be subject to additional 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. by the U. S. Patent and Trademark Office or additional challenges by third parties or that we will not lose all or part of the claims covered by these patents. Further, we cannot assure you that we will have sufficient capital resources to execute our patent licensing strategy. Investors are cautioned that these statements involve several risks and uncertainties that may cause actual results to differ materially from those projected. |
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