Affinity Retains Mark A. Glick as Its Damages Expert.COLUMBIA, S.C. -- Affinity Technology Group, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AFFI) today announced that it had retained Mark A. Glick and the law firm of Parsons Parsons, city (1990 pop. 11,924), Labette co., SE Kans.; inc. 1871. It is a shipping point for dairy products, grain, and livestock. Manufactures include ammunition, wire and paper products, plastics, and appliances. Behle & Latimer in Salt Lake City as part of Affinity's expanding 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. team. Dr. Glick is a professor of Economics at the University of Utah The University of Utah (also The U or the U of U or the UU), located in Salt Lake City, is the flagship public research university in the state of Utah, and one of 10 institutions that make up the Utah System of Higher Education. and the author of "Intellectual Property Damages: Guidelines and Analysis" published by Wiley. Dr. Glick's law practice includes an extensive focus on damages, financial analysis and royalty evaluation in intellectual property cases. Joe Boyle, Chairman, President and Chief Executive Officer, stated, "We are very pleased with the addition of Dr. Glick and PB&L as part of our legal team. Patent litigation and licensing involves a number of complexities, especially in the area of damages analysis and related assessments. We believe that the addition of Dr. Glick to our team will help immensely as we continue our litigation and licensing program and endeavor to exploit 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 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 offer any assurances that Affinity will prevail on its claims of patent infringement patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. against third parties or that such claims will result in monetary damages Monetary damages, in civil law, refers to compensation given to an injured party by a liable party. Monetary damages may be restitution, a penalty, or both. . 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 us to continue 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 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 challenge by third parties; the possibility that 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, including patent 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. |
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