MELVILLE, NY--(Marketwired - October 28, 2013) - CopyTele, Inc. ("CTI") (COPY), a company specializing in patent monetization and patent assertion, today announced that its wholly owned subsidiary, Loyalty Conversion Systems Corporation, has entered into a license agreement with Alaska Air Group, Inc. in connection with the Alaska Airlines frequent flyer program. The agreement covers transactions between Alaska Airlines and its awards partners such as Marriott, Hilton, Starwood and others. Estimates indicate that Alaska Airlines accounts for approximately 3.6% of domestic revenue passenger miles.
Robert Berman, CTI's President and CEO stated, "The Alaska Airlines agreement is a significant milestone for CTI as this is the first license for our patented Loyalty Conversion Systems technology. We now have 4 revenue producing licenses across 2 of our patent assertion programs, and we expect those numbers to increase as we continue to make progress with our existing assertion programs, and we launch new patent assertion campaigns."
CTI's patented Loyalty Conversion Systems technology covers the electronic conversion of non-negotiable credits, such as award points from hotels and rental car companies, into entity independent funds, such as airline miles. The Agreement ends a lawsuit that was filed by LCSC against Alaska Air on August 20, 2013, which will be dismissed.
This agreement is the fourth license that CTI has announced in the past 30 days. In total, CTI and its subsidiary companies currently have 37 active lawsuits across 5 patented technologies including E-Paper Electrophoretic Displays, Nano Field Emission Displays, Key Based Web Conferencing Encryption, J-Channel Window Frame Construction, and Loyalty Conversion Systems.
About CopyTele, Inc.
CTI develops and acquires patented technologies for the purposes of patent monetization and patent assertion. The company currently has 6 patent portfolios in the areas of Key Based Web Conferencing Encryption, E-Paper® Electrophoretic Displays, Nano Field Emission Displays, Micro Electro Mechanical Systems Displays, Loyalty Conversion Systems, and J-Channel Window Frame Construction. Additional information is available at www.CTIpatents.com.
Forward-Looking Statements: Statements that are not historical fact may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but rather reflect CopyTele's current expectations concerning future events and results. We generally use the words "believes," "expects," "intends," "plans," "anticipates," "likely," "will" and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning our expectations, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, those factors set forth in "Item 1A - Risk Factors" and other sections of our Annual Report on Form 10-K for the fiscal year ended October 31, 2012 as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this press release.
- Alaska Airlines