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Innovatier Files Suit Against Cardxx For Breach Of Licensing Agreement And Nondisclosure Agreement. Lakeland, Fla October 30, 2007 - Innovatier, Inc., a provider of innovative packaging solutions, has filed suit against CardXX, Inc. for attempting to deprive Innovatier, Inc. of its rights under both its licensing and mutual nondisclosure agreements with CardXX. In its lawsuit, Innovatier is seeking an injunction to prohibit CardXX from disclosing to third parties certain confidential information of Innovatier and to prohibit CardXX from violating Innovatier’s rights under its licensing agreement with CardXX. In addition, Innovatier is seeking damages against CardXX for CardXX’s wrongful attempt to terminate the licensing agreement. Robert Singleton, Innovatier’s President, stated, “our company will vigorously enforce its rights against CardXX under the licensing agreement. The exclusive and nonexclusive licenses granted to Innovatier by CardXX are rights granted to Innovatier that Innovatier intends to preserve.” Lawrence J. Keim, Innovatier’s Executive Vice President, further maintains that “Innovatier believes that third parties may be infringing upon Innovatier’s rights under its licensing agreement with CardXX, and Innovatier intends to assert its rights against third parties, if necessary.” Innovatier offers superior packaging solutions for active RFID and powered cards. Its Reaction Injection Embedding® technologies have positioned the Company as the leader in embedding powered electronics in a variety of form factors. The company’s simple and scalable manufacturing processes are easy and inexpensive compared to more conventional methods. In addition, the processes have the capability of realizing any 3-dimensional shape such as exact-parameter cards, circular wrist bracelets, or any desired form. In addition to its own proprietary technologies, the Company has a world wide license with CARDXX, Inc. which provides the Company with both exclusive and non-exclusive rights to use CARDXX, Inc.’s RAMP Technology as it relates to the manufacture of smart devices.
Innovatier – Endless Possibilities Limited Only by The Imagination™ This release contains forward-looking statements, including statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates" and similar words. Such forward-looking statements are subject to known and unknown risks, uncertainties or other factors that may cause Innovatier, Inc's actual results to be materially different from historical results or any results expressed or implied by such forward-looking statements. Innovatier, Inc. assumes no obligation to update any forward-looking statements to reflect events or circumstances arising after the date hereof. The potential risks and uncertainties which could cause actual growth and results to differ materially include but are not limited to, customer acceptance of the company's services, products and fee structures, the success of the company's brand development efforts, the volatile and competitive nature of the industries in which it operates, and changes in domestic and international market conditions, and foreign exchange rates. For more information: ### |
