LAS VEGAS, NV--(Marketwired - Apr 14, 2016) - Efftec International, Inc. (OTC PINK: EFFI), is pleased to announce that it has acquired a suite of five individual, industry-specific patents from a private seller. The Company is currently in the process of completing the various steps required by the USPTO (US Patent & Trademark Office) to effectuate the official transfer and assignment from the seller to the Company.
The patents in question pertain to the development and technologies which underlie a central aspect of the Company's business and further development, which is providing high-efficiency lighting solutions with applications in various industries. The patented technologies and methodologies focus improving the efficiency of gas discharge lighting systems, which are more commonly known as HID and CFL lighting systems.
As the trend towards efficiency in all respects continues to strengthen, we believe that the patented technologies we now own will grow in value and have the potential to provide the Company with both a unique development advantage, should we choose to incorporate them into our own products in the future, and with the ability to license the technologies as a revenue source. The Company will be responsible for completing all necessary steps, including paying any fees owed to the USPTO, to ensure that the patents are and remain in good standing. Based on the value that this asset was priced at on the balance sheet of the Company we acquired these patents from, we believe we will recognize a net increase in equity of about 700,000 dollars.
Efftec International, Inc. (OTC PINK: EFFI) is a holding company whose mission is to continue its steady growth and become a market leader through strategic acquisitions and organic growth. The company's core business focus is on sales of hardware and nutrients into the hydroponics and indoor growth markets.
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This Press Release may contain, among other things, certain forward-looking statements, including, without limitation, (i) statements with respect to the Company's plans, objectives, expectations and intentions; and (ii) other statements identified by words such as "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans" or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control)