SmartMetric Inc. (SMME) leaps on new patent application

Posted on: Wednesday, July 20th, 2011
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SmartMetric Inc. (OTCBB: SMME) shares triumphed 66.7% to 25 cents Wednesday, on word of a new patent application. Volume for the stock measured 57,000 shares, compared to just over 17,000 on a daily basis.

The company, based in Bay Harbor, Florida, filed an 8-K with the U.S. Securities and Exchange Commission to update Company shareholders of SmartMetric’s continued vigorous defense of its patent, U.S. Patent 6,792,464, concerning both contact and contactless smart card technology.

A news release put out Wednesday quotes CEO Colin Hendrick as saying its management plans to vigorously defend its patent against infringement from major banks that have recently begun issuing “contact” technology-based smart cards to their customers.

Supported by the Court’s recent definition of the Company’s patent as covering “contact” technology, the Company has determined these banks’ cards and card Companies are in direct violation of the SmartMetric patent. SmartMetric will be seeking significant damages for harm done to the Company by what it alleges to be substantial disregard to the constitutionally protected rights of an inventor against corporate bullying and ignoring of such intellectual property rights by large corporations.

The SmartMetric Biometric Card Computer provides powerful computing with large memory capacity in a revolutionary size that has taken more than 10 years of research and development. Using the latest in sub-micro-technology electronics, the company has achieved a level of miniaturization that allows it to release a solution of portable computing power that, combined with SmartMetric’s biometric fingerprint in-card scanning technology, is so revolutionary it will change the way business is done and information is handled across a broad range of industries.

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Category: OTCBB, Technology Stocks
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