Tuesday, 26 June 2001
Mystic, Connecticut, June 26, 2001 -- USA Video Interactive (OTCBB: USVO; CDNX: US; www.usvo.com) has received notice from the Canadian Intellectual Property Office (CIPO) that CIPO has issued Patent # 2,064,111 to USVO, covering its store-and-forward video technology. The patent is virtually identical to U.S. patent, # 5,130,792, issued July 14, 1992 by the US Patent and Trademark Office. This U.S. patent is considered a pioneer patent in the field of video-on-demand and Internet video, and has been cited by at least 145 other patents.
In addition to its patents in Canada and the U.S., USVO holds similar patents in England, France, Spain, Italy and Germany and has the patent pending in Japan. USVO has retained the international law firm Sullivan & Worcester to represent the patent in the United States and currently is considering several options for handling the patent in Canada and Europe.
"We are very pleased with this patent in Canada," said Edwin Molina, President and CEO of USVO. "It strengthens our position and marketing in Canada and is important to our company and our shareholders. We fully intend to take a vigorous approach with regard to the Canadian patent."
"We believe the technology covered by this patent is a significant contributor to the enormous growth in the popularity of the Internet," said Molina. "As such, it is a critically important asset to our company that will allow us to further extend our market reach and to provide even more valuable services to our strategic partners."
About USA Video Interactive
USA Video Interactive is an international designer and supplier of high-tech Internet streaming video and video-on-demand systems, services and innovative end-to-end solutions. Its StreamHQ™ media delivery services are focused on creating revenues for customers and reducing their Internet costs. StreamHQ™ encompasses the entire media experience from source to viewing, including content production; content encoding; asset management; media and application hosting; multi-mode content distribution; and transaction data capture, reporting and analysis. StreamHQ™'s design leverages the capabilities of the Internet while bypassing its latencies, with high availability, reliability, flexibility, scalability and cost-effectiveness. USVO holds the pioneering patent for store-and-forward video, filed in 1990 and issued by the United States Patent and Trademark Office on July 14, 1992. It has been cited by at least 145 other patents. USVO holds similar patents in England, France, Spain, Italy and Germany, and has patents pending in Canada and Japan. The USVO patented video technology gives users full-motion video; the flexibility of standard, VCR-like controls; and the convenience of a standard internet-browser format for access. It provides video images significantly faster and at a higher degree of resolution than with previously available methods; significantly overcomes bandwidth restrictions; and eliminates the blockiness and slowness of current technologies. USVO is developing patented Wavelet compression technology that will further enhance the company's ability to deliver unique capabilities as part of StreamHQ™. For more information, visit www.usvo.com
USA Video Interactive Corporate Headquarters Office: 70 Essex Street; Mystic, CT 06355; (800) 625-2200; (860) 572 1560. Canada Office: 837 West Hastings Street; Suite # 507; Vancouver, B.C. V6C3N6. Trading Symbol on the OTCBB: USVO; Trading on The Canadian Venture Exchange: US. Standard & Poors Listed. CUSIP 902924208. The Canadian Venture Exchange (CDNX) has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. For more information contact: Kevin Yorio, 860-572-1560;
This press release may contain forward-looking statements. Actual results may differ materially from those projected in any forward-looking statement. Investors are cautioned that such forward-looking statements involve risk and uncertainties, which may cause actual results to differ from those described.
Last Updated ( Tuesday, 05 December 2006 )
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