This is big ->
JUNE 19, 2000 - MYSTIC, CONNECTICUT - The United States Patent and Trademark
Office has reinstated the patent held by USA Video Interactive (NQB: USVO;
CDNX: US; www.usvo.com) for store and forward video. The patent, #
5,130,792, issued July 14, 1992, is considered a pioneer patent in the field
of video-on-demand and Internet video, and has been cited by 133 other
patents.
"USA Video Interactive was built around this patent in the late 1980s when it
was filed, and throughout the early 1990s," said Edwin Molina, President of
USA Video Interactive. "While we have not relied on it in developing our
business and moving into revenue generation, I believe it is very important
to our future and to our shareholders. Because the patent covers video
transmitted via a telephone network, we believe it applies to most, if not
all, video carried on the Internet. We plan to continue licensing the patent
to our clients and will explore other avenues of ensuring that our
shareholders receive the maximum benefit of this extremely important
document."
USA Video Interactive holds similar patents in England, France, Spain, Italy
and Germany and has patents pending in Canada and Japan. According to the
Abstract on file at the U. S. Patent Office, the patents cover video that is
transferred from one location to another over a telephone network. The
program signals are digitized, compressed, and stored at the first location,
and transferred to the remote location on request of a viewer. Due to the
compression of the program, the time required for electronically transferring
the program to the remote location is less than the viewing time for such
program. The compressed program is reconstructed at the remote location for
viewing on available video display devices.
"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-DemandT systems, services and
innovative end-to-end solutions. The USA Video Interactive technology gives
users full-motion video; the unique flexibility of standard, VCR-like
controls of play, fast-forward, reverse and pause; 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 -- all at
a lower cost and at or near broadcast quality. For more information on USA
Video Interactive, 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. V6C 3N6. Trading symbol on the US NBQ:
USVO; Trading symbol on The Canadian Venture Exchange: US. Standard & Poors
Listed. CUSIP 902924208; USA Video, USA Video Interactive, Video-On-Demand
and Video Yellow Pages are trademarks of USA Video Interactive. 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: Tony Castagno, Media Relations, 860-572-1560; Kevin
Yorio, Investor Relations, 860-572-1560; info@usvo.com
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. |
