techDaily.info :: NeoMedia Settles With AirClic, Pays Off Loan to Free Patents From Security Agreement

Wednesday, September 08, 2010

NeoMedia Settles With AirClic, Pays Off Loan to Free Patents From Security Agreement

Posted: 12/8/2003

Posted By:	The Kaminer Group		Contact:	David Kaminer
Phone:	9146841934		Email:	dkaminer@kamgrp.com

FT. MYERS, FL, Dec. 8, 2003 – NeoMedia Technologies, Inc. (OTCBB: NEOM), a developer and international marketer of software and patented technologies which link products, print, and physical objects directly to targeted online data, said today it has settled with AirClic Inc. of Newtown, Pennsylvania by paying off an outstanding loan and withdrawing its countersuit to free its patents from the AirClic Security agreement.

NeoMedia and AirClic, then of Blue Bell, Pennsylvania, entered into a Secured Promissory Note in July of 2001, under which AirClic agreed to loan NeoMedia $2 million in several installed payments. Of that agreed-to total sum, only $500,000 was loaned by AirClic to NeoMedia.

Charles T. Jensen, NeoMedia’s president, COO and acting CEO, said the agreement was “finally executed by AirClic on Friday, December 5th.

“Now, at last” said Jensen, “NeoMedia’s patents are free from this security agreement. We are absolutely delighted to have this behind us.

According to the terms of the Mutual Release and Settlement Agreement, AirClic “forever releases and forever discharges NeoMedia, its parents, affiliates, subsidiaries, successors and assigns, from each and every right, claim, debt, demand, liability, costs, expense and cause of action whatsoever, whether known or unknown, pending or potential, of any kind or nature arising out of or relating to the LOI, the Note, the Security Agreement, and any and all claims that were alleged or could have been alleged in the Suit, and acknowledges that the payment of the Settlement Amount satisfies the debt due and owing under the Note and the Security Agreement.”

“This year has been both exciting and a turning point for NeoMedia,” said Jensen. “New markets have opened for our leading edge technology in a wide range of industries, including automotive, cellular telephones, chemicals, international security and pharmaceuticals, we have completed our first acquisition, and have another where the due diligence process is ongoing.

“With this finally behind us,” said Jensen, “we can now focus all our energies and efforts on marketing our patented PaperClick™ technology products and platform in these and other emerging and receptive markets.”

About NeoMedia Technologies
NeoMedia Technologies, Inc. (www.neom.com), is a developer and international marketer of software and patented technologies which link products, print, and physical objects directly to targeted online data, with expertise in homeland security and e-authentication applications. NeoMedia markets PaperClick and PaperClick For Cell/Mobile Phones™, which link physical information and objects to the Internet, and its Systems Integration Group specializes in providing expert-based IT consulting, hardware, and software solutions. NeoMedia has also announced plans to acquire CSI International Inc., of Calgary, Alberta, Canada, a private technology and products company in the micro paint repair industry, where NeoMedia plans to build on well-established inroads for sales of its technology to automotive and chemical multinationalsThis press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement.

PaperClick and PaperClick For Cell/Mobile Phones are trademarks of NeoMedia Technologies, Inc.

Register now to post your news, events, and career information. All posting, searching and site features are FREE!

Register Now!

Post Your News

Post Your Events

Post Your Job

Post Your Resume

| | | | | | | |

YourMembership.com's online community solution offers social networking plus membership software to create global connections between your organization and its members. YourMembership.com allows you to easily control the features of your online member community, while delivering integrated enterprise-level membership management software for greater operational efficiencies. Our reputation as a leading global provider of SaaS-model online member communities is well-deserved with customers who span all seven continents and range from small organizations to large associations. YourMembership.com's web 2.0 online communities and membership management software solutions include: custom design, all features, hosting, future upgrades, customer service and training for one low fee. And our dedicated team will have you up-and-running quickly!

YourMembership.com features aid you in your efforts to help your members succeed and include: member directory, contact management system, social & professional networking tools, dues payment system, event & conference management, group/chapter homepages, career & volunteer center, extensive member profile system, donation & fundraising system, member blogs & forums, real-time data imports and exports, bulk email, messaging & e-newsletters, photo albums, media galleries & podcasts, online interactive surveys & quizzes, full e-commerce storefront, custom content management, all future upgrades, and that's only the beginning -- all updatable through a secure backend site administration system which includes a user-friendly dashboard.

Contact us to schedule your online presentation and discover how our complete online member community solution can help your member-focused organization.

www.yourmembership.com