BAY HARBOR, FL — (Marketwired) — 10/21/13 — SmartMetric, Inc. (OTCQB: SMME) — Speaking today from the company-s offices in Bay Harbor, SmartMetric Inc. President & CEO Chaya Hendrick said on October 16th, 2013, the District Court in California ruled that Visa Inc and MasterCard International-s counterclaims including Invalidity of the “464” Patent be dismissed.
Defendants Visa Inc. and MasterCard International submitted to the Federal District Court a request for dismissal of Counter Claims in exchange for a Declaratory Judgment of Invalidity of the “464” issued Patent, owned SmartMetric, Inc. The Defendants sought in the first instance an agreement by consent from the Plaintiff, SmartMetric, Inc., to agree that the “464” Patent was in fact an invalid Patent in exchange for the Defendants, Visa Inc. and MasterCard International withdrawing their counterclaims against SmartMetric, Inc.
SmartMetric, Inc. refused to agree that its issued Patent was invalid in exchange for the withdrawal of Defendant-s counterclaims against SmartMetric, Inc. Without any agreement being granted by SmartMetric, Inc. to the Defendant-s the Federal District Court on October 16th dismissed the counterclaims of the Defendant-s including their request that the Court find and make a ruling of invalidity of the SmartMetric, Inc. “464” Patent.
Speaking today, the President & CEO of SmartMetric, Inc. said the company-s issued patent still stands as a valid Patent. The arguments presented by the Defendant-s in saying that in essence a few earlier issued Patents covered the same invention of the “464” have in the company-s opinion been shown to be completely erroneous and represent a tissue thin argument in defence against the claims of Patent infringement by SmartMetric, Inc. As we move forward with our case for Patent Infringement against both Visa Inc. and MasterCard International it will be clearly shown that our claim for $13.4 Billion in royalty and damages filed in the Court is both fair and reasonable. In fact the company could claim even more considering the economic benefit that arises from the infringement of the SmartMetric, Inc. Patent in the considered view of the Company. The company is very pleased with the dismissal of the Defendant-s counterclaims and their attempt to have the Court invalidate the “464” Patent. This is a win for a small technology company and its shareholders against arguably the largest financial institutions in the world, she said.
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Certain of the above statements contained in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors.
MedicalKeyring and SmartMetric are trademarks of SmartMetric, Inc.
Investor Relations:
Jens Dalsgard
ConstellationAA.com
Office: 775.771.5808
SmartMetric, Inc.
Ms. Chaya C. Hendrick
President & CEO
Direct: 786.269.2238
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