MIDLAND, Mich., March 12, 2019 (GLOBE NEWSWIRE) -- HPIL Holding (the "Company") (OTC PINK: HPIL) is pleased to announce that the Company’s subsidiary RodDoc, Inc., has received notice from the U.S. Patent Office that its U.S. Patent Application no. 15/921,573 filed on March 14, 2018 “SPIRAL BANDING”, was published on February 21, 2019 under publication number US 2019-0056045-A1. The claims of the newly issued patent application are generally directed towards methods of spiral rod banding and identification, including performance of actions following therefrom. The Application generally permits patentees to be eligible for a reasonable royalty for infringement occurring between the publication date and the date the patent is granted. A relevant 8K was filed on March 12, 2019.
Mr. Christopher Philbrick, President of RodDoc, said, “This protection will ensure that the investment we have made in the development of the 'spiral banding' process and the custom equipment to accomplish the process remains RodDoc’s Intellectual Property for years to come. Our market advantage becomes 'first to market' and ownership of the process should competition attempt to enter.”
The application can now be viewed on-line at: https://portal.uspto.gov/pair/PublicPair
Mr. Ray Wong, COO of HPIL, notes, “This is our first step to establish and secure a primary and dominant position in the highly lucrative worldwide market of underground drilling refurbishment service.”
Mr. Nitin Amersey, Chairman and CEO of HPIL HOLDING said, “RodDoc Inc., a Wyoming company, and 100% owned subsidiary of HPIL, services the underground construction industry with innovative value-added repairs for expensive wear items. The global market for Horizontal Directional Drilling in 2018 was $7.37B and is expected to grow at the rate of 13.2% over the next 6 years to USD 17.6 billion. RodDoc, LLC is uniquely positioned to offer customers a significant cost savings by making repairs to items that wear while drilling. As the patent pending machines are mass manufactured and placed strategically in the drilling regions globally, we will offer maintenance services within comfortable travel distances to the major drilling customers.
The Spiral Banding machines will be placed with contract manufacturers that exist in the current supply chain already servicing this industry. We will be able to grow our sales at an expedited rate with this model and capitalize on the thousands of unusable “worn out” components lying in equipment “bone yards” around the world. Current customers claim that the spiral banded drill rods wear longer than new rods and are a fraction of the cost.”
HPIL Holding (http://hpilholding.com) is a diversified holding company listed on OTC Markets. HPIL Holding is focused on investing in both private and public companies in differing business sectors. HPIL Holding does not restrict its potential candidate target companies to any specific business, industry or geographical location and, thus, acquires various types of businesses. HPIL Holding also evaluates the acquisition of intellectual properties and technologies.
Safe Harbor / Forward-Looking Statements: Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimate," "expect," "plan," "potential," "seek," and "intend," among others. These forward-looking statements are based on the Company's current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ include, but are not limited to, substantial competition; our possible need for financing; uncertainties of technological changes; and dependence upon third parties. The Company does not undertake an obligation to update or revise any forward-looking statement. All of the Company's forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date hereof.
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HPIL Holding
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Tel: +1 (248) 750-1015
Email: info@hpilholding.com
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HPIL Holding Tel: +1(248) 750-1015
Email: info@hpilholding.com