SOURCE: SmartMetric, Inc.
BAY HARBOR, FL--(Marketwire - Dec 12, 2012) - SmartMetric, Inc. (OTCQB: SMME), developer of "Secured by Biometrics" Credit and Identity Cards, announced today in its Patent Infringement lawsuit against Visa and MasterCard welcomes the United States District Court, Central District of California, ruling on December the 3rd to vacate the previous scheduling of a motion scheduled for a hearing on December 5th and at the same time cancelling the hearing altogether and issuing a ruling against Visa and MasterCard's motion to exclude the Chief Executive Officer from seeing various information that both Credit Card companies want the Court to rule that C. Hendrick should be barred and excluded from seeing under discovery.
Speaking from the companies' offices in Argentina, M/s C. Hendrick, President and CEO of SmartMetric, is very curious as to what information Visa and MasterCard want to be kept away from the companies' President in a legal maneuver that is very strange indeed. To suppress the rights of a litigant to access to material under the discovery process is a very unusual step and something SmartMetric, Inc. apposed with its representations before the Court.
The Judge not only cancelled the hearing to hear Visa and MasterCard's motion but also ruled against Visa and MasterCard's motion to attempt to exclude SmartMetric's CEO and product inventor C. Hendrick from viewing certain material under discovery while saying that it would make such material available only to SmartMetric's lawyers but kept away from SmartMetric's most capable person to analyze technical information, the Patent inventor and company CEO, C. Hendrick. This motion by Visa and MasterCard was rejected by the Court under a ruling from the bench on December 3rd.
At stake is a patent written by C. Hendrick and which was first licensed to SmartMetric, Inc. on August 1, 2004. This license agreement was cancelled on December 11th 2009 and replaced with an Assignment and Assumption Agreement on December 11th, 2009 giving full ownership rights of the Patent to SmartMetric, Inc. As a point of clarification, all options C. Hendrick had to take back the Patent have expired and the company, SmartMetric, Inc. has full and exclusive rights of ownership to use the Patent which it now owns under the Assignment and Assumption agreement between C. Hendrick and SmartMetric, Inc.
The Company, SmartMetric, Inc. will continue to press its claim against Visa and MasterCard for Patent infringement of its U. S. PATENT 6,792,464. The introduction and use of ATM and Banking Cards with data chips or smartcard chips on them in the United States, is what is at stake. SmartMetric, contends that the already issuing and adoption of this chip card technology by Visa and MasterCard in the United States is a clear violation of its Patent and SmartMetric, Inc. reserves all rights including monetary damages, future earnings and if needed even an injunction in order to protect its Patent rights of the issued US Patent 6,792,464.
The SmartMetric, Biometric Card Computer provides powerful computing with large memory capacity in a revolutionary size that has taken more than 10 years of research and development. Using the latest in sub micro technology electronics, the company has achieved a level of miniaturization that allows it to release a solution of portable computing power that, combined with SmartMetric's biometric fingerprint in-card scanning technology, is so revolutionary it will change the way business is done and information is handled across a broad range of industries. For further information please go to the company's website: www.smartmetric.com
Safe Harbor Statement
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.