SAN DIEGO, CA, Mar 09, 2016 (Marketwired via COMTEX) -- e.Digital Corporation (otcqb:EDIG), a long standing source of innovation and future-defining patented technologies, today announced that it has entered into a royalty bearing license agreement and a settlement agreement with Myfox, Inc. (Myfox). Under the terms of the confidential agreements, Myfox has obtained a license to the Company's Nunchi(®) patent portfolio.
Nunchi technology gathers information based on physical sensors, actions in an environment, as well as historical data, and acts on this information to perform operations or communicate. Applications based on Nunchi technology may include the use of the cloud, communication networks, sensors, algorithms, as well as databases, to understand and respond to the needs of people.
"We are pleased to have entered into an important Nunchi portfolio related licensing and settlement arrangement with Myfox. Clearly, Myfox understands and respects intellectual property rights and we welcome them as a licensee," said Fred Falk, president and CEO of eDigital.
About e.Digital Corporation: For more than 25 years, e.Digital's ideas and inventions have impacted the evolution of consumer products. Today, e.Digital innovations, including its Flash-R(TM) portfolio of flash memory-related patents, and Nunchi(®) portfolio, are essential to many portable consumer electronic products. For more information about e.Digital, please visit: www.edigital.com.
Safe Harbor statement under the Private Securities Litigation Reform of 1995: This press release includes forward-looking information and statements. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events that are based on management's belief, as well as assumptions made by, and information currently available to, management. While the Company believes that expectations are based upon reasonable assumptions, there can be no assurances that goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect actual results and may cause results to differ materially from those expressed in forward-looking statements made by the Company or on its behalf. Some of these factors include the substantial uncertainties inherent in pursuing patent enforcement activities including, but not limited to the risks and costs of litigation and support activities, the timing and amount of settlements/licenses if any, the acceptance of existing and future products and technologies, the difficulty of commercializing and protecting new technology such as the Company's Nunchi, microSignet and other technologies, the impact of competitive products, technologies and pricing, general business and economic conditions, and other factors detailed in the Company's Annual Report on Form 10-K and other periodic reports filed with the SEC. Except as required by law, the Company specifically disclaims any obligation to update or revise any forward-looking statement whether as a result of new information, future developments or otherwise.
SOURCE: e.Digital Corporation
(C) 2016 Marketwire L.P. All rights reserved
