- Latest Japanese Patent Underscores Sprylogics' Global Patent Footprint
TORONTO, Feb. 3, 2014 /CNW/ - Sprylogics International Corp. ("Sprylogics" or the "Company") (TSXV: SPY), a technology provider of local mobile search and messaging solutions for consumers and businesses is pleased to announce that it has been granted a new patent for a "System and Method for Adding Advertisements to a Location-Based Advertising System". This addition compliments the Company's existing intellectual property portfolio of granted or pending patents.
Japanese Patent No. 5405665 was granted on November 8 2013, and it is described as follows:
A location-based advertising system automatically analyzes messages posted on social networking systems or other publicly accessible or private computer systems for posting messages for viewing by others. The messages are analyzed to identify messages that contain offers, such as offers that may be construed as location-based offers. Information about the offers is extracted from the messages and placed in a database. The database may be used by a location-based advertising application to send advertisements to targeted users or to respond to users who are qualified according to their current or recent geographic location. Optionally or alternatively, merchants may send messages, such as e-mail messages or instant messages (IMs), to the system to notify the system of offers. These messages are also analyzed and information about their respective offers is extracted and placed in the database.
"This new patent is related to important features in our Poynt-Enabled SDK and Poynt App, pertaining to the monetization of location-based search intent", said Marvin Igelman, CEO of Sprylogics. "This patent grant expands our existing IP portfolio worldwide and continues to demonstrate the breadth and depth of our innovative engineering talent."
In addition, the Company announced that it will be issuing 79,682 common shares of Sprylogics at an issue price of $0.56 per share in connection with an interest payment due on January 31, 2014. The shares will be subject to a hold period of four months and a day from the date of issuance.
Sprylogics International Corp. enables telecom operators, messaging and mobile application providers to introduce new revenue streams into their apps with its "Poynt-Enabled" SDK. "Poynt-Enabled" brings monetization related to the user's search intent, while increasing loyalty, engagement and usage activity levels. Sprylogics semantically aggregates and distributes useful local content by making it searchable via its patented geographical and contextual targeting technology.
Sprylogics also markets Poynt; an award winning, all-in-one mobile local search App that has garnered over 20 million downloads. Both products have a common focus on enhancing the mobile user experience, enabling users to do more "without leaving the app", while monetizing via local search results and transactions.
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Cautionary and Forward-looking Statements - Statements contained in this news release, which are not historical facts, are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results of Sprylogics to differ materially from the conclusion, forecast or projection stated in such forward-looking statements. These risks, uncertainties and other factors include, but are not limited to factors referenced in Sprylogics' other continuous disclosure filings, which are available at www.sedar.com. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.
SOURCE: Sprylogics International Corp.
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