TOMI Environmental Solutions, Inc.
31.7.2017 15:32 | Nasdaq OMX
TOMI Environmental Solutions and Astro Pak Settle Lawsuit Concerning TOMI's Patents and IP Rights
BEVERLY HILLS, Calif. and COSTA MESA, Calif., July 31, 2017 (GLOBE NEWSWIRE) -- TOMI Environmental Solutions, Inc. ("TOMI") (OTCQX:TOMZ) and Astro Pak Corporation ("Astro Pak") announced today they have settled their litigation relating to TOMI's patents and intellectual property rights.
The parties have agreed that TOMI is the sole owner of ionized hydrogen peroxide decontamination and sterilization technology, patents, and products, which TOMI markets under the brands Binary Ionization Technology® (BIT(TM)) and SteraMist(TM). TOMI sued Astro Pak and its wholly owned subsidiary SixLog Corporation ("SixLog") in California federal court for infringing TOMI's United States Patent Nos. 6,969,487 and 7,008,592 and violating TOMI's intellectual property rights by, among other things, indicating that TOMI's technology and patents were proprietary to SixLog and marketing TOMI's patented equipment with SixLog labels. Astro Pak and SixLog agreed to cease this conduct and pay TOMI a favorable cash payment. Astro Pak also agreed to assign its iHP mark to TOMI, complementing TOMI's existing trademark and trade name protection. Finally, Astro Pak and SixLog agreed to remove from the web or take steps to remove any assertions or suggestions that they own or developed ionized hydrogen peroxide technology or patents, or that they provide any ionized hydrogen peroxide products or services.
"TOMI's patents and technology are extremely valuable and ground-breaking, and TOMI is committed to protecting them and enforcing its IP rights," said Dr. Halden Shane, TOMI's CEO and Chairman. "This settlement will allow TOMI to focus all its energy and resources on innovation, on growing our business, and on making potential customers aware of the power of TOMI's technology."
"TOMI's patented technology is very powerful and has outstanding efficacy," said Ken Carroll, Astro Pak's President. "The company has a very bright future, and we wish them continued success."
About TOMI Environmental Solutions, Inc.
TOMI Environmental Solutions, Inc. (OTCQX:TOMZ) is a global decontamination and infection prevention company, providing environmental solutions for indoor surface disinfection through manufacturing, sales and licensing of its premier Binary Ionization Technology® (BIT(TM)) platform, which was invented under a defense grant in association with the Defense Advanced Research Projects Agency (DARPA) of the U.S. Department of Defense. BIT(TM) uses a low percentage Hydrogen Peroxide as its only active ingredient to produce a hydroxyl radical (OH ion), represented by the TOMI(TM) SteraMist(TM) brand of products, which produces a germ-killing aerosol that works like a visual non-caustic gas.
TOMI's products are designed to service a broad spectrum of commercial structures including but not limited to hospitals and medical facilities, cruise ships, office buildings, hotel and motel rooms, schools, restaurants, meat and produce processing facilities (when not in operation), military barracks, police and fire departments, and athletic facilities. TOMI's products and services have also been used in single-family homes and multi-unit residences.
TOMI also develops training programs and application protocols for its clients and is a member in good standing of The American Biological Safety Association, The American Association of Tissue Banks, Association for Professionals in Infection Control and Epidemiology, Society for Healthcare Epidemiology of America and The Restoration Industry Association.
About Astro Pak
Astro Pak has been the leading provider of high-purity cleaning, precision cleaning and passivation services across North America and worldwide since 1959. Astro Pak continues to improve its technologies and cleaning processes for the Medical Device, Semiconductor, Laser, Biopharm and a myriad of other markets, while maintaining our leader position in contract cleaning for the Aerospace and Defense industries. Astro Pak is privately held with headquarters in Costa Mesa, CA.
For more information, please visit www.astropak.com .
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Certain written and oral statements made by us may constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). Forward-looking statements are identified by such words and phrases as "we expect," "expected to," "estimates," "estimated," "current outlook," "we look forward to," "would equate to," "projects," "projections," "projected to be," "anticipates," "anticipated," "we believe," "could be," and other similar phrases. All statements addressing operating performance, events, or developments that we expect or anticipate will occur in the future, including statements relating to revenue growth, earnings, earnings-per-share growth, or similar projections, are forward-looking statements within the meaning of the Reform Act. They are forward-looking, and they should be evaluated in light of important risk factors that could cause our actual results to differ materially from our anticipated results. The information provided in this document is based upon the facts and circumstances known at this time. We undertake no obligation to update these forward-looking statements after the date of this release
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Astro Pak Corporation
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