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08-23-2012, 12:39 AM
(This post was last modified: 08-23-2012, 12:39 AM by admin.)
Steve Vestergaard
Okay. Thanks, Fred. So the company is debt free and we're profitable even after our investments in R&D for new products.
Our core Play MPE music distribution business is generating reliable recurring revenue that is enabling us to invest in new technology. We believe our new cross platform Clipstream video is extremely disruptive to the current way streams are created and hosted, and we think it's going to take the company to the next level when it launches.
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We've been investing fairly heavily in protecting our existing and future intellectual property in anticipation of growth. For example, we currently have patents for locking and watermarking technology, but during the period we received a second patent over a watermarking solution, and we filed for seven patents for our new Clipstream technology, which again we think is very disruptive to the existing paradigm.
We want to get this right and to make sure our claims are solid, so we actually hired two firms, an IP lawyer in Vancouver to draft the claims and an IP litigator in New York to try and get around our own claims. So it was quite a back and forth. It took a bit of time and it surely wasn't the least expensive approach, but we think we've probably got it right and we think the lawyers have done a good job of protecting our intellectual property.
We also protect our brands with registered trademarks in North America, Europe, and Asia. During the period we expanded that. We filed new trademarks to expand the industries and product types that our trademarks covered, and we expanded registered protection of all our marks to include Australia/New Zealand. But I think as Fred alluded to, we anticipate that many of these professional fees will decrease substantially going forward.
