Nano-Proprietary, Inc. Announces The Allowance Of Patent For System Of Selling Advertising Over The Internet
February 23, 2006 – AUSTIN, TX – Nano-Proprietary, Inc. (OTC BB: NNPP) through its subsidiary, Electronic Billboard Technology, Inc.("EBT") announced that its U.S. Patent Application No. 09/553.012 entitled "System and Method for Selling Advertising Space on Electronic Billboards over the Internet", covering all indoor and outdoor electronic displays, has been allowed. This patent application was originally filed April 20, 2000 with a priority date of April 22, 1999.
The allowed claims relate to methods, systems, and computer programs that facilitate displaying advertising information on multiple indoor and outdoor electronic billboards, displays, and other types of electronic signage. These claims relate to electronic displays managed using a network of information handling, transmission, and control systems communicating with each other using the internet or a computer program.
For example, claim 23 of the patent covers the concept of managing, from a remote location, the information to be displayed on a network containing multiple electronic displays, including the ability to control the time, duration, and the display location of the advertising. The claim also covers the method of paying for the advertising as part of the process.
Several claims also deal with computer programs developed to manage the information, including claim 41 which deals with computer programs designed to: receive content, receive a designation of a target display device to display the content, receive a designation of a time to display content, and to provide information on the date and time availability of target display devices.
"We are pleased that this seminal patent has been allowed," said Marc Eller, Chairman and CEO of Nano-Proprietary, Inc. "With the explosion of digital advertising, this patent has tremendous value and should begin generating revenue in the very near future."
Digital advertising networks have experienced exponential growth in recent years and now are a multibillion dollar market. This patent applies to any situation when the placement of digital ads is remotely controlled using the internet or a computer program. Examples could include indoor and outdoor advertising, including high traffic locations such as airports or train stations, indoor and outdoor sports arenas, digital point of purchase and other advertising in national, regional, and local retailers, as well as other high-traffic locations. In addition to this allowed patent application in the U.S., Nano-Proprietary, Inc. has similar patent applications pending in Europe, Canada, Korea, and Japan.
Nano-Proprietary's business model is to license its intellectual property to others, or to combine its resources with industry leaders to deploy the technology that results from that intellectual property. We will consider all options and business models that relate to this patent in order to maximize shareholder value, but we expect revenue generated by this patent to be related to advertising displayed on devices using methods covered by this patent.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties concerning Nano-Proprietary's business, products, and financial results. Actual results may differ materially from the results predicted. More information about potential risk factors that could affect our business, products, and financial results are included in Nano-Proprietary's annual report on Form 10-K/A for the fiscal year ended December 31, 2004, and in reports subsequently filed by Nano-Proprietary with the Securities and Exchange Commission ("SEC"). All documents are available through the SEC's Electronic Data Gathering Analysis and Retrieval System (EDGAR) at www.sec.gov or from Nano- Proprietary's web site listed below. Nano-Proprietary hereby disclaims any obligation to publicly update the information provided above, including forward-looking statements, to reflect subsequent events or circumstances.
About Nano-Proprietary, Inc.
Nano-Proprietary, Inc. is a holding company consisting of two wholly-owned operating subsidiaries. Applied Nanotech Inc. is a premier research and commercialization organization dedicated to developing applications for nanotechnology with an extremely strong position in the field of electron emission applications from carbon film/nanotubes, sensors, functionalized nanomaterials, and nanoelectronics. Electronic Billboard Technology, Inc. (EBT) possesses technology related to electronic digitized sign technology. The Companies have over 200 patents or patent applications pending. Nano-Proprietary's business model is to license its technology to partners that will manufacture and distribute products using the technology. Nano-Proprietary's website is www.nano-proprietary.com.
Company Contact:
Doug Baker
Applied Nanotech Holdings, Inc.
248.391.0612
dbaker(at)appliednanotech.net