In March press release, Worlds Inc (OTCMKTS:WDDD) reported that it submitted replies to the six IPRs instituted by the U.S. Patent & Trademark Office’s PTAB at the request of Bungie Inc.
The patents in discussion are also at the center of a patent breach court case charged by the company against Activision Blizzard, Inc. (NASDAQ:ATVI) et al. As per the LA Times, the petitioner Bungie has a multi-year deal, with Activision and at the same time Activision has a seat in Bungie’s board.
The management speaks
Thom Kidrin, the CEO of Worlds, said that they believe Bungie is a related entity of interest to Activision in the respective matter. It is serving as an Activision proxy since it is time barred from submitting an IPR against Worlds.
Nevertheless, the company has addressed the invalidity arguments raised by Bungie in filed petitions. They are of view that they have overcome these issues and will be successful in keeping the validity of their patents.
Oral hearings before the PTAB are scheduled on August 10, with a ruling anticipated by November 30. Attorney Wayne M. Helge stands for Worlds before the planned PTAB. It should be noted that DBJ+G is ranked as one of the best law firms measured by the count of representations in IPR, Post-Grant Review, and Covered Business Method cases before PTAB in 2015.
A positive verdict on the IPR will enable Worlds to progress in federal patent case against Activision Blizzard. Markman ruling was in favor of Worlds in the Activision case that was issued in last year.
Worlds Inc is an intellectual property developer firm and owns licensee of patents linked to 3D online virtual worlds. It has a portfolio of 7 U.S. trademarks for multi-server technology based on 3D applications. The firm’s 3D Internet websites are developed to help visitation by providing users with online communities.
Lotus Bio-Technology Development Corp (OTCMKTS:LBTD) Loses Grip On New 52-Week High
Bears appear to have taken control of Lotus Biotechnology after a 27% tank in the market. The crash came even as the stock appeared to be on course to register a new 52-week high of $0.59 a share after an impressive run, backed by a string of positive news.
With the stock now trading at lows of $0.40 a share, fresh news will have to come into play if the stock is to have a chance of recording a new 52-week high soon. Talk of exponential growth in China’s organic food industry has so far helped propel Lotus Biotechnology to the current highs.
Lotus Bio-Technology Development Corp (OTCMKTS:LBTD) has also been busy in forming strategic alliances with other biotechnology companies as it continues to explore ways of coming up with new organic products. The company has also teamed up with the likes of Hunan Cangshi Biological Technology as part of an effort that seek to explore new opportunities abroad.