Infinite Networks Corporation Announces the Activation of Patent Rights Option
April 05 2006 - 8:54AM
Business Wire
Infinite Networks Corporation (Pink Sheets: INNX) announced today
that the Board of Directors approved the activation of their
previously negotiated Patent Option with CET International.
Infinite Networks Corporation exercised its Patent Option to own
40% of CET International, Inc., which includes all patents, rights
and title to CET's Combustible Engine Technology. This is part of
the exclusive worldwide license agreement Infinite acquired with
the acquisition of CET, LLC in January 2006. INNX activated the
option for the initial consideration payment of $450,000.00. In an
interview with the President of Infinite, Mr. Bush, stated, "This
is a critical milestone for Infinite Networks Corporation to be
able to lock in long term rights and significant percentage
ownership of the CET Technology. Pursuant to the original licensing
agreement Infinite could acquire up to 40% of the rights, and title
to the CET Patent. This move was important to ensure that the
Company continues to invest in infrastructure and future Company
operations. The Board of Directors approved the activation of the
option to provide shareholder protection and stability as the
Company moves forward. Now, with this additional piece in place,
Infinite becomes a key player in the engine development market."
Infinite Networks Corporation markets High Efficient Advance
Technology "H.E.A.T." through CET, LLC for the global Automotive
and Marine/Boating industries. This release contains
forward-looking statements that are made pursuant to the safe
harbor provisions of the Securities Litigation Reform Act of 1995.
Some of the statements contained in this press release include
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended (the "Securities Act"), and
Section 21E of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), that involve substantial risks and uncertainties.
Some of the forward-looking statements can be identified by the use
of words such as "anticipate," "believe," "estimate," "may,"
"intend," "expect," "will," "should," "seeks" or other similar
expressions. Forward-looking statements are based largely on
management's expectations and involve inherent risks and
uncertainties. These risks include, but are not limited to, the
demand for implementation of Infinite Networks Corporation services
and the ability of the company to successfully implement its
strategies, each of which may be impacted, among other things, by
economic and/or competitive conditions. You should not place undue
reliance on any forward-looking statement, which speaks only as of
the date made. Many of these factors are beyond our control. The
Company cautions that the foregoing factors are not exclusive.
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