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Dynamic Biometric Systems Announces That the US Patent Office Has Issued the Company a Patent for the Bio-Pen
Tuesday, October 21, 2008
Dynamic Biometric Systems, Inc. (PINKSHEETS: DYBO), a Nevada corporation, and its subsidiary, DynaSig Corporation (jointly the "Company"), announced today that on October 7, 2008, the United States Patent and Trademark Office (the "USPTO") has issued and assigned to the Company Patent No. 7,433,499 B2, titled, "Method and Apparatus for Capturing and Authenticating Biometric Information from a Writing Instrument," originally filed on August 23, 2004.
The invention includes a method for capturing and transmitting data captured from a writing instrument in a secure manner. More specifically, the biometric information collected from the pen is coupled with at least one additional data point for encryption. The issuance of this patent validates the unique design of the Bio-Pen and protects critical components of the Company's Bio-Pen and related software processes.
The Company currently trades on the Pink Sheets under the symbol DYBO. Information on the Company including current financial information is available on the Company's web site www.dynasig.com. Peacock, Hislop, Staley & Given (www.phsg.com), a Phoenix, Arizona broker dealer, sponsored the Company for trading and is active in making a market in the common shares of DYBO.
Since 2003, DBSI has been developing proprietary hardware (the "Bio-Pen") and its proprietary software to allow for the verification of dynamic signatures (together the "DynaSig System"), i.e. the system captures the unique act of signing rather than the signature image. DBSI has developed multiple variations of the Bio-Pen, which include full electronic authentication combined with actual signature capture. DBSI has developed 3 end-user DynaSig System applications: PDF Sign, LogBook and LockBox, which can be used for access control and electronic document management. These applications work individually or as a suite with different features including verification of sender and recipient, access and document execution by multiple verified signers, content validation, and a permanent logbook of access. Although DBSI has yet to generate material revenues from its technology, it currently has more than 600 finished Bio-Pens in inventory ready for sale. DBSI's office is located at 14647 S. 50th St., Suite 130 Phoenix, AZ 85044 and its phone number is (480) 705-9110.
Certain matters discussed within this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be attained. Such statements are inherently uncertain, and actual results and activities may differ materially from those estimated or projected. Certain factors that can affect the Company's ability to achieve its anticipated results include, among others, uncertainties inherent in the development of a new business and limited capital. Further factors affecting future performance are detailed in the Company's 10-K and 10-Q on file with the SEC. The Company also has detailed financial information available on its website. The Company has allowed is SEC filings to go delinquent but is in the process of curing such delinquency.
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