Dallas, Texas (November 17, 2011) – StockGuru Shines its Spotlight on Worlds Inc. (OTCBB: WDDD) yesterday announced that it has received a “Notice of Allowance” from the U.S. Patent & Trademark Office (USPTO) for patent application no. 12/406,968 titled “System and Method for Enabling Users to Interact in a Virtual Space.” This is the fifth patent allowance in Worlds’ intellectual property (IP) portfolio. The forthcoming patent relates to computer architecture for three-dimensional graphical multi-user interactive virtual world systems. The Company closed yesterday at $0.17, up 21%, trading in a fifty-two week range of $0.495 – 0.06.
Worlds believes it is particularly noteworthy that the USPTO issued this allowance after examining a large number of references cited in a prior litigation involving predecessor patents with the same description as the newly-issued patent, creating a strong presumption of validity of the claims contained in this new patent.
“Worlds is continuing to build a strong IP portfolio that reflects its pioneering efforts begun in 1994,” said Thom Kidrin, Worlds’ CEO. “We believe that the patent contains claims that significantly strengthen our patent protection for technology and processes developed by Worlds over the past 15+ years.”
This patent is a continuation of US patents 6,219,045, 7,181,690, 7,493,558 and 7,945,856 issued to Worlds.com (Worlds’ prior name) in 2001, 2007, 2008 and 2011, respectively, and bearing the same title. Worlds Inc. has three additional patent continuations in process at the USPTO. Worlds believes there are currently parties infringing on its patents and is discussing enforcement options with legal experts and patent law firms.
Mr. Kidrin noted, “As previously announced, this new patent allowance, additional continuance claims in process, and all Worlds’ IP will remain within Worlds Inc. The company’s online operations, software assets and technology platform have been spun off into its Worlds Online Inc. subsidiary, which we expect will be a separately trading stock on the OTC:BB following the SEC’s review of a Form 10 registration statement for Worlds Online Inc.”
Following completion of the SEC’s review of Worlds Online’s registration statement, Worlds Inc. will distribute dividend shares of Worlds Online to its shareholders of record at the close of business on May 16, 2011. Details of the spin-off and dividend were announced on March 31, 2011 and can be viewed here: http://bit.ly/uFYlOV.
About Worlds Inc.:
Worlds Inc. (f.k.a. Worlds.com Inc.) was founded in 1994 and utilizes its patented 3D technology in partnership with brand leaders in specific market segments to offer 3D multi-user environments, known as “virtual worlds,” that have interactive Avatars, rich media graphics, text chat, voice-to-voice chat, video and e-commerce. The 3D communities allow visitors to interact with each other, teleport throughout the Worlds environment as well as participate in shared experiences. Besides partnering with existing content providers that have strong brands and an existing following, Worlds also encourages individuals to create their own virtual spaces, communities and unique Avatars with easy-to-use tools. Worlds was, and remains, true “social networking” well before the term became mainstream.
Forward Looking Statements
This release contains certain forward-looking statements and information relating to Worlds Inc. that are based on the beliefs of Worlds’ management, as well as assumptions made by and information currently available to the Company. Such statements reflect the current views of the Company with respect to future events including estimates and projections about its business based on certain assumptions of its management, including those described in this Release. These statements are not guarantees of future performance and involve risk and uncertainties that are difficult to predict, including, among other factors, changes in demand for the Company’s services and products, changes in the economic environment and changes in technology. Additional risk factors are included in the Company’s public filings with the SEC. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein as “hoped,” “anticipated,” “believed,” “estimated,” “should,” “preparing,” “expected” or words of a similar nature. The Company does not intend to update these forward-looking statements.
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