Dallas, TX, August 05, 2016 --(PR.com
)-- An intellectual property bidding war may happen shortly in Texas bankruptcy court for technology patents and trademarks of Technology Mining Co., Resilient Integrated Systems and Nitrofiber, LLC.
Technology Mining Company LLC of Plano TX announced the planned auction of its patent asset portfolio to satisfy creditor claims. The company is undergoing a Chapter 11 reorganization. Interested bidders must put up a $25,000 deposit by August 11th in order to bid at the August 16th 2016 auction to be held at the United States Court House, 660 North Central Expressway, Third Floor., Plano Texas 75075 at 9:00a.m. Central time. Investor Mark Petty summed up the situation by saying that "we have a rocket of technology on the launch pad but ran short of funds before we could get fuel to the rocket."
Technology Mining Co. is a privately held company with valuations previously ranging from $42 million to $272 million.
The Debtor’s business consists of the development of “smart cable” systems, designed to provide the highest level of survivability for power and communications in harsh environments thereby extending the length of time critical applications can continue to function in an emergency. Technology Mining Co has developed the patented technologies for border security, airport security, nuclear plant infrastructure and life safety for high rise commercial construction involving fiber optic cabling and a intelligent communication and monitoring system of connections for implementing ruggedized resilient systems. Inventor Cal Woosnam states that Resilient Technology’s cable is the only cable known to meet requirements of the new international standard CSA C22.2 No. 267-10 ASPCA "Life Safety" Power and Communications Assembly Standard.
Patents listed as issued or pending are:
“Networked Communications System & Segmented Addressable Communications Assembly Box, Cable and Controller”
“Communications Cable & Method of Making Same”
“Gimbaled Mount System for Satellites”
"Networked Communications & early Warning System”
“Perimeter Security Surveillance System”
Patents are issued in the US, Australia, Japan, Mexico, New Zealand and South Africa with others pending for Brazil, China, Europe, Hong Kong, India, and Israel.
Trademarks in the company asset list of interest are:
Armored Segmented Power & Communications Assembly (ASPCA)
Hybrid Power & Communication Assembly (HPCA)
Centurion Safety & Security System – Office Towers & Skyscrapers
Titan Safety & Security System – Real-time situational awareness and notification for customer and border protection
Mercury Early Warning System – Earthquake, Hurricane & Severe Weather warning system
Guardian Safety & Security System – Real-time situational awareness & notification for First Responders and law enforcement
More info: http://www.nitrofiber.com
More info: http://www.technologyminingco.com