SCOTTSDALE, Ariz., March 20 /PRNewswire-FirstCall/ -- MedCom USA, Inc. (OTC Bulletin Board: EMED), a leading provider of HIPAA compliant healthcare and financial transaction solutions for the healthcare industry owning approximately 40% of the issued shares of Card Activation Technologies (OTC Bulletin Board: CDVT), announced today that the United States District Court for the Northern District of Illinois ruled that Card Activation's Patent, U.S. Patent Number 6,032,859, is valid.
Card Activation Technologies is the owner of the patent covering a method for the activation and processing of transactions related to debit styled cards, which include gift cards, phone cards and other stored value cards The court issued its ruling in response to a motion to declare the patent invalid that was filed by Barnes & Noble Inc. (NYSE: BKS) and Aeropostale Inc. (NYSE: ARO).
MedCom will soon issue full details of the court's ruling.
MedCom (http://www.medcomusa.com) spun out Card Activation Technologies in 2006 into a separate trading company due to the huge potential for licensing of the company's technology in the prepaid card market. Card Activation Technologies, Inc. is a Chicago-based company that owns proprietary patented payment transaction technology used for processing gift cards, phone cards and other debit purchase transactions. The Company is actively seeking to license its technology to the thousands of current users and believes that many retailers, gas stations, phone companies and others that utilize those stored value cards, such as gift and debit, infringe its patent. As a result, the company is aggressively pursuing litigation against these infringements. The Federal Reserve Bank of Philadelphia estimated the prepaid card market to be valued in excess of $181.7 billion in transactions in 2006. According to market forecasts, the prepaid industry will grow to $421.5 Billion by 2010. For further information about Card Activation Technologies go to http://www.cardactivationtech.com .
Certain statements in this press release that are not historical facts
are "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements may be identified
by the use of words such as "anticipate," "believe," "expect," "future,"
"may," "will," "would," "should," "plan," "projected," "intend," and
similar expressions. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause the actual
results, performance or achievements of Card Activation Technologies, Inc.
(the Company) to be materially different from those expressed or implied by
such forward-looking statements. The Company's future operating results are
dependent upon many factors, including but not limited to the Company's
ability to: (i) defend its patent; (ii) build the management and human
resources and infrastructure necessary to support the growth of its
business; (iii) competitive factors and developments beyond the Company's
control; and (iv) other risk factors discussed in the Company's periodic
filings with the Securities and Exchange Commission, which are available
for review at http://www.sec.gov under "Search for Company Filings."
Contacts for Card Activation Technologies
Bev Jedynak Paul Knopick
Martin E. Janis & Company Inc. E & E Communications
312-943-1123 (949) 707-5365
|SOURCE MedCom USA, Inc.|
Copyright©2008 PR Newswire.
All rights reserved