· INEO files new PCT patent filing to protect its proprietary technology globally.
· INEO’s core Patent for the combination of Digital Media display screen and Electronic Article Surveillance (EAS) loss prevention technology integration has now been granted in the United States, Canada and Europe.
Surrey, BC – October 19, 2022 – INEO Tech Corp. (TSX-V: INEO; OTCQB: INEOF) (the “Company” or “INEO”), the innovative developer and operator of the INEO Media Network, a digital advertising and analytics solution for retailers, today announced it made a Patent Cooperation Treaty (PCT) filing for global intellectual property protection.
INEO recently filed for a design patent in Canada for its “INEO WELCOMING GATE” system, a companion system to the INEO Welcoming Pedestal. This patent has now been extended with a global priority filing to include the United States and Europe.
“INEO’s intellectual property strategy is keeping us in an industry leading position which is far ahead of the competition,” said Greg Watkin, Chairman and President of INEO. “We are well into the monetization strategy of our patents and products, and we feel very comfortable that we are well ahead of other, larger industry players. Our patent portfolio is diverse and provides significant protection should our competitors create similar technology or products. Furthermore, we are very pleased with our global partner, Prosegur, who has agreed to help protect and defend our patents as we extend our lead and displace the competition in major retailers around the world.”
INEO was granted a core utility patent for the combination of Digital Media display screen and Electronic Article Surveillance (EAS) loss prevention technology integration in the U.S. (patent 10,614,691), Canada (patent 2,936,044) and Europe (patent 3482377). These patents prevent any other Electronic Article Surveillance (EAS) provider from selling an EAS system which contains a digital media display screen, leaving the INEO Welcoming System as the only system on the market which can combine advertising and loss prevention in one form factor.
The design patent, “INEO Welcoming GATE” is used as a companion product that can be paired with an INEO Welcoming System, ideally deployed at retail location where there are multiple doors at the front entrance. The INEO Welcoming GATE’s bold, sleek design, with its customizable branding, gives the entrance of the retail store a fresh look. When combined with an INEO Welcoming Pedestal it also provides unmatched visual appeal. Protecting the innovation of this design is essential to INEO’s competitive edge. The INEO Welcoming GATE utilizes technology INEO designed for the INEO Welcoming System which allows it to operate in both the Accousto-Magnetic (AM) 58KHz frequency spectrum and the 8.2MHz frequency spectrum.
INEO’s patented technology combines traditional Electronic Article Surveillance (EAS) systems with a digital media display in one integrated device. EAS systems are theft prevention devices which are typically found at the entrance or exit of a retail store and transmit a radio frequency (RF) signal which detects tags and labels on products. The combination of a media display and EAS system is a non-trivial and unique invention due to the complexity in designing and housing a RF security tag system in close proximity to a media display screen without degradation of the required RF signal. This patented technology drives INEO’s business model of integrating retail digital signage with retail media networks to generate SaaS (Software-as-a-Service) based revenue.
INEO Tech Corp.
Per: “Kyle Hall”
Kyle Hall, Chief Executive Officer and Director
About INEO Tech Corp.
INEO Tech Corp., through its wholly owned subsidiary, INEO Solutions Inc., operates the INEO Media Network, a digital advertising and analytics solution for retailers. INEO’s patented technology integrates and monetizes digital screens with theft detection sensor gates at the entrance of retail stores. The Company’s cloud-based platform uses IoT (Internet of Things) and AI (Artificial Intelligence) technology to deliver customized digital advertising to each retail location based on the demographic mix, such as age and gender, of customer traffic at each location. The Company also deploys the INEO Welcoming Network technology through a SaaS-based solution to larger retail chains. INEO is headquartered in Surrey, Canada and publicly traded on the TSX-Venture Exchange under the symbol “INEO” and on the OTCQB-Venture Market under the symbol “INEOF“.
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