DSS’s Impact BioMedical Receives Notice of Allowance for 3F Biofragrance Patent
15 January 2021 - 12:30AM
Document Security Systems, Inc. (“DSS” or the “Company”) (NYSE
American: DSS), a multinational company operating businesses
focusing on brand protection technology, blockchain security,
direct marketing, healthcare, real estate, and securitized digital
assets, today announced its wholly owned subsidiary Impact
BioMedical, Inc. (“Impact BioMedical”) received notice of allowance
from the U.S. Patent and Trademark Office (“USPTO”) for a
[method/composition] patent for its proprietary 3F Biofragrance.
3F Biofragrance is a unique formulation of
specialized ingredients (e.g. terpenes) from botanical sources with
demonstrated effect as an insect repellent and an antimicrobial.
The latest patent allowance (U.S. Patent Application No.:
16/593,693) provides intellectual property protection for the
method of use of 3F Biofragrance as an insect repellent.
3F Biofragrance repellent contains botanical
ingredients that mosquitoes avoid. These ingredients are
scientifically proven to affect the mosquito’s receptors,
essentially making the insect blind to a human’s presence. This can
be utilized as a stand-alone repellent or as an additive in
detergents, lotions, shampoo, and other substances to provide
mosquito protection.
“This was one of three patents pending for 3F
Biofragrance, and we are very pleased to have expanded our Impact
BioMedical intellectual property estate with this allowance,”
stated Frank D. Heuszel, CEO of DSS. “With extensive application
potential in multi-billion-dollar global markets, 3F Biofragrance
can provide significant long-term value for shareholders as it
moves toward commercialization.”
The global market for insect repellents is
expected to generate $9.6 billion by 2026, growing at a CAGR of
6.8% from 2019 to 2016, and the global fragrance ingredients market
is expected to reach $16.1 billion by 2027, up from $13.6 billion
in 2019, according to data from Allied Market Research.
About Impact BioMedical,
Inc.Impact BioMedical, Inc. ("Impact BioMedical") is a
wholly owned subsidiary of DSS. Impact BioMedical strives to
leverage its scientific know-how and intellectual property rights
to provide solutions that have been plaguing the biomedical field
for decades. By tapping into the scientific expertise of GRDG
Sciences, LLC, and other partners, Impact BioMedical pledges to
undertake a concerted effort to deliver unique offerings in human
healthcare and wellness. For more information on Impact BioMedical
visit http://impbio.com/.
About Document Security Systems, Inc.
DSS is a multinational company operating
businesses focused on brand protection technology, blockchain
security, direct marketing, healthcare, real estate, and
securitized digital assets. Its business model is based on a
distribution sharing system in which shareholders will receive
shares in its subsidiaries as DSS strategically spins them out into
IPOs. Its historic business revolves around counterfeit deterrent
and authentication technologies, smart packaging, and consumer
product engagement. DSS is led by its Chairman and largest
shareholder, Mr. Fai Chan, a highly successful global business
veteran of more than 40 years specializing in corporate
transformation while managing risk. He has successfully
restructured more than 35 corporations with a combined value of $25
billion.
For more information on DSS
visit http://www.dsssecure.com.
Investor Contact:
Dave Gentry, CEORedChip Companies
Inc.407-491-4498Dave@redchip.com
Safe Harbor Disclosure
This press release contains forward-looking statements that are
made pursuant to the safe harbor provisions within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Such
forward-looking statements include, but are not limited to,
statements related to the Company's intended use of proceeds and
other statements that are not historical facts. Forward-looking
statements are based on management's current expectations and are
subject to risks and uncertainties that may cause actual results or
events to differ materially from those projected. These risks and
uncertainties, many of which are beyond our control, include: risks
relating to our growth strategy; our ability to obtain, perform
under and maintain financing and strategic agreements and
relationships; risks relating to the results of development
activities; our ability to attract, integrate and retain key
personnel; our need for substantial additional funds; patent and
intellectual property matters; competition; as well as other risks
described in the section entitled "Risk Factors" in the prospectus
and in our other filings with the SEC, including, without
limitation, our reports on Forms 8-K and 10-Q, all of which can be
obtained on the SEC website at www.sec.gov. Readers are cautioned
not to place undue reliance on the forward-looking statements,
which speak only as of the date on which they are made and reflect
management's current estimates, projections, expectations and
beliefs. We expressly disclaim any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in our
expectations or any changes in events, conditions or circumstances
on which any such statement is based, except as required by
law.
DSS (AMEX:DSS)
Historical Stock Chart
From Apr 2024 to May 2024
DSS (AMEX:DSS)
Historical Stock Chart
From May 2023 to May 2024