Poynt Corporation

Poynt Corporation

May 13, 2011 08:00 ET

Poynt Corporation Awarded Location-Based Patent for Delivering Mobile E-Directory Services

Patent Provides Poynt Corp. with Industry Leading Intellectual Property and Protection Covering Multi-Mode Location Based e-Directory Service Enabling Method, System and Apparatus

CALGARY, ALBERTA--(Marketwire - May 13, 2011) - Poynt Corporation (TSX VENTURE:PYN) ("Poynt Corp." or the "Company"), a leading provider of mobile local search services, announces issuance of a fourth patent in the Company's portfolio of patents, for delivering multi-mode location based E-directory services, enabling method, system and apparatus.

The new patent marks an important protective feature and barrier to entry for competitors of the Company's location-based search model, allowing for the delivery of location-based, contextual and relevant data, sorted by proximity to users. The new patent enhances Poynt's position as an industry leader in location-based services. This granted patent allows a method of returning proximity sorted directory results to a mobile device user, based on automatic location detection on a mobile communication device and a search query. At least one e-directory query result and one web query result are compared, results are sorted based on proximity to the location detected, duplicates are deleted, and the results are delivered to the users. In some cases, additional information related to the listing, such as promotions or websites, are added to the results.

The United States Patent and Trademark Office awarded Patent No. 7,941,430 to Poynt Corp. on May 10, 2011.

About Poynt Corporation

Poynt Corp. (about.poynt.com) is a global leader in the mobile local advertising space. Their Location Based Search application, Poynt (www.poynt.com), enhances the consumers' ability to connect with the people, businesses and events most important to them. Poynt is available on iPhone and iPod Touch, Android, Nokia QT and Windows Phone 7 devices, BlackBerry smartphones and BlackBerry PlayBook tablets in Canada, the United States, Europe and Australia. Poynt Corp. entered the mobile publishing space with the recent acquisition of an advertising publishing platform. Key contracts on both the supply and demand sides are in place to provide inventory into the platform and publishers to display the inventory. Whether through the Poynt Local Search App or the Ad Publishing Platform, Poynt Corp. simplifies connecting consumers with businesses, retailers and events. Headquartered in Calgary, AB, Canada, Poynt Corp. trades on the TSX Venture Exchange under the symbol PYN.

Forward-looking Statements

This news release and related disclosure contains forward-looking statements relating to the revenue potential associated with and expected use of Patent No. 7,941,430 and key industry trends. Such forward-looking statements are subject to important risks, uncertainties and assumptions. The results or events predicated in these forward-looking statements may differ materially from actual results or events. As a result, you are cautioned not to place undue reliance on these forward-looking statements.

These forward-looking statements are based on certain key assumptions regarding, among other things: the ability of the Company to successfully uphold and defend the patent and market interest in the service offerings. Material risk factors that could cause actual results to differ materially from the forward-looking information include, but are not limited to: risks that the Company will not successfully be able to uphold and defend the patent or continue to market interest in the service offering; will not result in anticipated revenues; the deteriorating economic and market conditions that could lead to reduced spending on information technology products; competition in our target markets; potential capital needs; management of future growth and expansion; the development, implementation and execution of the Company's strategic vision; risk of third-party claims of infringement; protection of proprietary information; customer acceptance of the Company's existing and newly introduced products and fee structures; and the success of the Company's brand development efforts; risks associated with strategic alliances; reliance on distribution channels; product concentration; need to develop new and enhanced products; potential product defects; our ability to hire and retain qualified employees and key management personnel; and risks associated with changes in domestic and international market conditions and the entry into and development of new for the Company's products.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Public Relations Contact:
    FortyThree PR, Inc.
    Evie Carter

    Poynt Corporation:
    Andrew Osis
    President & CEO