March 22, 2013
21 Marzo 2013 - 9:25AM
OTC Markets
TMM, INC. ANNOUNCES THE
FILING OF A LAWSUIT TO PROTECT ITS INTELLECTUAL
PROPERTY
Wilmington,
Delaware – March 21, 2013 - TMM, Inc. (TMMI-PK) (“TMMI”) or (the
“Company”) announces
that TMMI and its subsidiary, Digital Focus, Inc. (“DFI”), have
filed a lawsuit
in the Eighth Judicial District Court, Clark County, Nevada,
against Lawrence
F. Panik; Dimension, Inc.; Digital Focus Media, Inc.; Bruce Hoyt;
Jeffrey R.
Phillips; Lyman P. Hurd; John Elton; and other parties to be later
named,
seeking the return of its intellectual property, declaratory and
equitable
relief jointly and severally against the named defendants, and
damages,
including punitive and exemplary damages.
The lawsuit
concerns TMMI’s fractal video compression technology and
defendants’
misappropriation of that technology. In
March 1993, TMMI paid for an exclusive, perpetual,
non-transferrable world-wide
license to fractal video compression source code (VDK 1.0-1.9) from
Iterated
Systems, Inc. (“ISI”). Such license was
for ISI’s software based on ISI’s fractal video compression
technology
reflecting ISI’s more than two dozen issued patents involving the
technology.
In
March 2000,
DFI and ISI entered into a license agreement by which DFI was
granted an exclusive
license to use and develop the PVS/SGI (VDK 2.0) source
code. Such fully-paid
license was exclusive to DFI in
accordance with its terms. DFI was
acquired by TMMI pursuant to a stock exchange transaction dated
June 8,
2012.
The Complaint
alleges that some of the defendants stole an early version of the
fractal video
compression technology from a protected computer in or about
2002. TMMI and DFI are
seeking equitable relief
against the named defendants to enjoin any further development
and/or enhancement
by any of them of the stolen source code and the return of the
source code
together with any derivatives and copies thereof.
The Causes of
Action asserted against the named defendants include Conversion,
Defamation of
Title, Misappropriation of Trade Secrets, Intentional Interference
with
Contract, and Unfair Competition.
TMMI has
successfully resolved litigation against other parties to protect
and preserve
its intellectual property rights, and will continue to aggressively
prosecute
its interests against any parties making adverse claims relating to
TMMI’s
license rights in its fractal video compression
technology.
ON BEHALF OF THE
BOARD OF
DIRECTORS OF TMM, INC.:
GERARD V.
CAVANAUGH
CHAIRMAN AND
PRESIDENT
For more
information, please visit the Company’s Website at
http://www.tmmi.us.
Safe Harbor Statement
The information in
this release contains forward-looking statements which involve
risks and
uncertainties, including statements regarding the Company's capital
needs,
business strategy and expectations. Any statements contained herein
that are
not statements of historical fact may be deemed to be
forward-looking
statements, which may be identified by terminology such as
"may,"
"should," "will," "expect," "plan,"
"intend," "anticipate," "believe,"
"estimate," "predict," "potential,"
"forecast," "project," or "continue," the
negative of such terms or other comparable terminology. Readers
should not rely
on forward-looking statements as predictions of future events or
results. Any
or all of the Company's forward-looking statements may turn out to
be wrong.
They can be affected by inaccurate assumptions, risks and
uncertainties and
other factors which could cause actual events or results to be
materially
different from those expressed or implied in the forward-looking
statements.
Factors may cause the Company's actual results to differ materially
from any
forward-looking statement. In addition, new factors emerge from
time to time
and it is not possible for the Company to predict all factors that
may cause
actual results to differ materially from those contained in any
forward-
looking statements. The Company disclaims any obligation to
publicly update any
forward-looking statements to reflect events or circumstances after
the date of
this document, except as required by applicable law.
Contact:
Via Mail:
TMM Inc.
118 School Road
Wilmington, DE 19803
Telephone:
1- 800 821-9877
E-Mail:
info@tmmi.us
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