Single Touch Systems Inc. (SITO) jumps on patent news

Posted on: Monday, September 12th, 2011
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Single Touch Systems Inc. (OTCBB: SITO) saw its shares zoom higher by 11.6% to 48 cents Monday, on favorable patent tidings. Volume for the stock topped 147,000.

A news release dated Sept. 12 stated that company was issued U.S. Patent 8,015,307 for “System and Method for Streaming Media,” on September 6, another patent in the field of streaming media that further strengthens an already robust streaming media patent portfolio.

Recently, Single Touch sent “Letters of Notification” to Hulu who is jointly owned by Comcast (NASDAQ: CMCSA), News Corp (NASDAQ: NWSA) and Disney (NYSE: DIS) and to Netflix , Inc. (NASDAQ: NFLX), advising that Single Touch is the holder of issued US Streaming Media patents, which include US Patents 7,054,949; 7,191,244 and 7,689,706. The letters also noted the impending issuance of US Patent 8,015,307.

Single Touch Systems has filed and has been awarded more than 15 U.S. patents related to Streaming Media, Advertising and Abbreviated Dialing Codes.

In the release, Single Touch Chairman Anthony Macaluso said, “After years of establishing ourselves as a pioneer in mobility, and cementing our IP position, it has become increasingly important for us to take the steps necessary to protect what we have already established with the assistance of law firms such as Polsinelli Shughart and McKool Smith.”

Single Touch Systems Inc. is an innovative mobile solutions provider serving retailers, advertisers and brands.

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Category: OTCBB, Technology Stocks
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