Single Touch Systems: Building A Patent-Assertion Fortress
- SITO secured a $10 million credit facility, backed by its portfolio of patents, as well as a $1 million equity investment from Fortress Investment Group.
- Fortress made a $1M equity investment at $0.3817 per shares, almost 30% above current prices.
- SITO has successfully monetized portions of its patent portfolio in the past.
- In addition to the issued patents, SITO also acquired a handful of pending continuation applications related to streaming media from Streamworks Technologies, Inc.
- SITO is well-positioned to immediately begin monetizing its patents with Fortress’s financing.