Democrasoft Sells 2 Patent Families Following Patent Auction
23 February 2011 - 2:51AM
Marketwired
Democrasoft, Inc. (PINKSHEETS: DEMO) today announced that, in
recently closed transactions growing out of a November auction of
intellectual property in Napa, California, it has sold two families
of network optimization patents for net pretax proceeds of
approximately $750,000.
The patents, generally known as the "Polish" (named for inventor
Nat Polish) and the "Allen" (named for inventor Arthur Allen)
patents, cover methods of optimizing network efficiency. Network
optimization is important because of current and anticipated
bandwidth capacity issues for most networks.
"While we believe that these patent families are very important
to the industry, we determined to auction them off to the highest
bidders because they are not relevant to our current business
model," said Richard Lang, Chairman & CEO of Democrasoft, Inc.
According to Lang, when the patent families were not sold at the
auction, auctioneer iCAP/Ocean Tomo pursued other sale avenues, as
it was authorized to do. "We are pleased to have monetized these
patent families at prices close to the auction reserve prices as
part of our ongoing effort to enhance shareholder value by
disposing of intellectual property which is left over from our
prior business model," said Lang.
"We have other potentially valuable intellectual property, which
we hope to monetize," Lang added, noting that there is no assurance
that any such monetization will occur. "However, we are focusing
our energies on making our Collaborize® line of web-based
collaboration and educational software a success," Lang stated.
The Company presently intends to use the proceeds, which are
expected within 30 days, to support the Collaborize product lines
and for other corporate purposes.
About DemocraSoft®: DemocraSoft, Inc., headquartered in Santa
Rosa, CA, is a 20-year-old public company (PINKSHEETS: DEMO) with a
history of pioneering technology. The company's flagship product,
Collaborize®, is a web-based solution for organizing groups with a
common purpose into powerful, decision-making communities. It is
designed to empower groups of all sizes -- businesses, non-profits,
organizations, governments, their members and citizens -- to
resolve real problems and drive toward actual implementation of
collective solutions. Democrasoft is dedicated to facilitating a
vision of online "social networking with purpose." For more
information, please visit http://Democrasoft.com.
For Further Information Contact: Richard Lang 888-993-8683
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