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Poynt Corporation Awarded Location-Based Advertising Patent for Delivering Coupons and Offers
Wednesday, January 12, 2011
Calgary, Alberta -- Poynt Corporation (TSX Venture: PYN) ("Poynt Corp." or the "Company"), a leading provider of mobile local search services, announces issuance of a third patent in the Company's portfolio of patents, claiming priority before the year 2000, for delivering location-based offers and coupons to mobile smartphones based on GPS location and user profile. The new patent marks an important protective feature and barrier to entry for competitors of the Company's location-based search model, allowing for the delivery of location-based, personalized offers and automated notification of those offers.
The new patent, part of the Company's growing patent portfolio, enhances Poynt's position in the mobile advertising and offer marketplace and further positions the Company as an industry leader in location-based services. Poynt's technology couples user-stated intention with relevant, local information - the key drivers in providing transactional capabilities within any pre-defined geographic area or "geo-fence."
"The services surrounding this patent have been, and will continue to be, a key revenue driver for the Company," said Andrew Osis, CEO, Poynt Corp. "Mobile commerce begins with the ability to transact within a geographic area where the user is located. With more and more mobile consumers turning to their smartphones for timely information based on where they are and what they are searching for at that moment in time, we expect Poynt will have a rapidly growing audience of new and existing users that will benefit from location-specific advertising and coupons."
"A key trend we're seeing in location based services is better content discovery. This moves from pull-based search to a more intelligent and geographically-relevant content push," says Michael Boland, Analyst and Program Director for BIA/Kelsey. "This patent arms Poynt with better IP to continue to innovate along these lines."
The United States Patent and Trademark Office awarded Patent No. 7,870,229 to an indirect wholly owned subsidiary of Poynt Corp. on January 11, 2011. The patent is directed to:
A computer-implemented method for communicating an offer of goods or services to an individual having a microcomputer wirelessly linked to the internet and provided with a GPS receiver, the method comprising: receiving over the internet, from the microcomputer, location information derived from the GPS receiver and information identifying the individual; using the location information and the identifying information in a programmed computer in communication with a data bank of goods and services and a data bank of consumer profiles to determine an appropriate offer of goods or services for the individual; and thereupon, under the control of the programmed computer and without specific request by the individual, sending to the microcomputer over the internet using an identifier unique to the individual a message communicating the offer.
About Poynt Corporation
Poynt Corp. (about.poynt.com) develops and operates mobile applications that enhance the consumers' ability to connect with the people and businesses most important to them. Their multi-award-winning Poynt application (www.poynt.com) is a mobile local search service available over BlackBerry smartphones, iPhone and iPod Touch, Android devices and Windows Phone 7. Through agreements with directory and vertical content providers in Canada, the United States, Europe and Australia, Poynt simplifies finding and connecting with businesses, retailers and events wherever and whenever it is most convenient for the consumer. The MyInboxNow offering enables low-end feature phones to behave like smartphones for email access. MyInboxNow is available to mobile operators as a private label solution. Headquartered in Calgary, AB, Canada, Poynt Corporation trades on the TSX Venture Exchange under the symbol PYN.
This news release and related disclosure contains forward-looking statements relating to the revenue potential associated with and expected use of Patent No. 7,870,229 and key industry trends. Such forward-looking statements are subject to important risks, uncertainties and assumptions. The results or events predicated in these forward-looking statements may differ materially from actual results or events. As a result, you are cautioned not to place undue reliance on these forward-looking statements.
These forward-looking statements are based on certain key assumptions regarding, among other things: the ability of the Company to successfully uphold and defend the patent and market interest in the service offerings. Material risk factors that could cause actual results to differ materially from the forward-looking information include, but are not limited to: risks that the Company will not successfully be able to uphold and defend the patent or continue to market interest in the service offering; will not result in anticipated revenues; the deteriorating economic and market conditions that could lead to reduced spending on information technology products; competition in our target markets; potential capital needs; management of future growth and expansion; the development, implementation and execution of the Company's strategic vision; risk of third-party claims of infringement; protection of proprietary information; customer acceptance of the Company's existing and newly introduced products and fee structures; and the success of the Company's brand development efforts; risks associated with strategic alliances; reliance on distribution channels; product concentration; need to develop new and enhanced products; potential product defects; our ability to hire and retain qualified employees and key management personnel; and risks associated with changes in domestic and international market conditions and the entry into and development of new for the Company's products.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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