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Sunday, May 29, 2022

The Inside Scoop on Quest Patent Research Corporation (OTC: QPRC)

Quest Patent Research Corporation (OTC: QPRC) got a recent boost after the Company announced it is entering into a patent license and settlement agreement with Panasonic Corporation in the M-RED Inc. (‘M-RED’) intellectual property portfolio. The Agreements resolve the parties’ disputes, grants Panasonic a fully paid license to certain assets within the M-RED patent portfolio, and mutual covenants, among other terms, which are confidential.

The M-RED portfolio consists of 60 United States patents and 8 foreign patents, which cover technology generally related to semiconductor manufacture, integrated circuits, processors and power management. In July 2019, M-RED Inc. brought patent infringement suits in the U.S. District for the Eastern District of Texas against Panasonic. In April 2020, the Court issued an order granting the parties’ Joint Motion to Stay All Deadlines and Notice of Settlement.

Quest Patent Research Corporation (OTC: QPRC) is a New York City based Intellectual Property Asset Management Firm. Quest is incorporated in Delaware (1986), listed on the OTC Bulletin Board, and traded under the symbol QPRC. Quest creates shareholder value through investment and management interests in intellectual property assets, such as patents, trademarks, copyrights, novel inventions and trade secrets. Through its business, shareholders have the opportunity to participate across a broad portfolio of dynamic assets in the burgeoning intellectual property space. The Company provides IP asset owners and stakeholders – including inventors, law firms, estates, small businesses and corporations – with a valued resource for protection, management and monetization of IP assets.

Quest’s operations include the development, acquisition, licensing and enforcement of intellectual property. Quest currently owns, controls or manages 11 intellectual property portfolios consisting of over 115 patents.

The stock saw an explosive rise last November after the Company sued Amazon, Asus Tek, Loius Vuitton, Micheal Kors, Kyocera International, TCT Mobile International and Shenzen Oneplus Science & Technology for patent infringement. The Company recently won settlements using the same patents against Texas Instruments, STMicroelectronics, Huawei Technologies, MediaTek and ZTE Corporation.

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QPRC

Quest partners with owners and affiliates of compelling intellectual property, in both mature and emerging market technologies, to develop and execute a strategic program focused on realizing the full economic value of the IP. Quest offers a suite of value-added services to owners, IP attorneys, small businesses, and corporations to drive revenue from innovative, distressed, dormant or under-managed IP assets.

In May Quest reported its financial results for the three month period ended March 31, 2020 and is providing an operational update to its shareholders. Revenues for the three months ended March 31, 2020 were approximately $870,000, an increase of approximately $495,000, or 132%, compared to approximately $375,000 the three months ended March 31, 2019. The increase in revenue is primarily due to an escalation in patent licensing fees of approximately $495,000. The patent licensing fees of $870,000 for the three months ended March 31, 2020 resulted from the licensing and/or settlements in the Power Management/Bus Control Portfolio and the CXT Portfolio.

Mr. Jon Scahill, CEO of Quest commented, “We are pleased with our financial results for the first quarter of 2020 during which we increased revenue year-over-year 132% while also improving net cash from operating activities. During the remainder of 2020 we have several cases that are stayed pending settlement and trial dates set on the court docket.”

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Currently trading at a $3 million market valuation QPRC has $4.6 million in current liabilities and significant revenues reporting revenues for the three months ended March 31, 2020 were approximately $870,000, an increase of approximately $495,000, or 132%, compared to approximately $375,000 the three months ended March 31, 2019. Quest’s operations include the development, acquisition, licensing and enforcement of intellectual property. Quest currently owns, controls or manages 11 intellectual property portfolios consisting of over 115 patents. Of the recent quarter Mr. Jon Scahill, CEO of Quest commented, “We are pleased with our financial results for the first quarter of 2020 during which we increased revenue year-over-year 132% while also improving net cash from operating activities. During the remainder of 2020 we have several cases that are stayed pending settlement and trial dates set on the court docket.”  We will be updating on QPRC when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with QPRC.

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Disclosure: we hold no position in QPRC either long or short and we have not been compensated for this article.

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