Quest Patent Research Subsidiary CXT Systems Enters into License and Settlement Agreement with Tailored Brands, Inc.

Tailored Brands is the sixth licensee of the CXT portfolio including Container Store, Pier 1, GNC, Hallmark and Fossil

RYE, NY – 06/17/2020 – Quest Patent Research Corporation (OTCQB: QPRC) ("Quest" or "Company"), an Intellectual Property asset monetization company, today announced entering into a patent license and settlement agreement with Tailored Brands, Inc. (“Tailored Brands”) (the “Agreement”) in the CXT intellectual property portfolio. The Agreements resolve the parties’ disputes, grants Tailored Brands a fully paid license to assets within the CXT patent portfolio, and mutual covenants, among other terms, which are confidential.

The CXT Portfolio represents 1 of 11 intellectual property portfolios Quest owns and/or controls, and is comprised of 30 U.S. patents covering technology relating to, among other innovations, systems and methods of operating an accessible information database which provides for single sign-on user authentication, intelligent database management, as well as inventory evaluation, filtering according to preferences, alternative product recommendations, and access to a database of consumer feedback/evaluation.

The two main technology segments of the portfolio are the 'Message Board Patents' relating to customer reviews and recommendations and the 'Steele Patents' relating to a system for centrally storing and managing consumer information accounts, and auto populating information on webpages, such as checkout pages and account pages.

To date, Fossil, Academy, Container Store, Pier 1, GNC, Hallmark, Steve Madden, and several others have all taken a license to the Steele Patents. Yotpo, Turnto, PowerReviews, and BazaarVoice have all taken a license to the Message Board Patents.

Mr. Jon Scahill, CEO of Quest, commented. “We are pleased to have reached a licensing agreement with our fifteenth licensee within the CXT structured licensing program in approximately 2 years its inception.”

About Quest Patent Research Corporation

Quest is an Intellectual Property (‘IP’) licensing and commercialization company. The Company acquires and manages IP rights from a variety of sources, including large and small corporations, universities and other IP owners. Quest specializes in both mature and emerging technologies, delivering a suite of value add financial, strategic and legal resources to efficiently monetize IP throughout the full commercialization lifecycle.

Forward-Looking Statements

Statements made in this press release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by the use of words such as "may," "will," "plan," "should," "expect," "anticipate," "estimate," "continue," or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate, and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading "Risk Factors" in the Company's Annual Reports on Form 10-K, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.

Investor Contact:

Jon Scahill, Chief Executive Officer

PH: (888) 743-7577

Info@QPRC.com

Quest Patent Research Subsidiary M-RED Inc. Enters into Settlement Agreement and License with Panasonic Corporation

Panasonic is the first licensee of the M-RED portfolio

RYE, NY – 06/15/2020 – Quest Patent Research Corporation (OTCQB: QPRC) ("Quest" or "Company"), an Intellectual Property asset monetization company, today announced entering into a patent license and settlement agreement with Panasonic Corporation (“Panasonic”) (the “Agreement”) in the M-RED Inc. (‘M-RED’) intellectual property portfolio. The Agreements resolve the parties’ disputes, grants Panasonic a fully paid license to certain assets within the M-RED patent portfolio, and mutual covenants, among other terms, which are confidential.

The M-RED portfolio consists of 60 United States patents and 8 foreign patents, which cover technology generally related to semiconductor manufacture, integrated circuits, processors and power management. In July 2019, M-RED Inc. brought patent infringement suits in the U.S. District for the Eastern District of Texas against Panasonic. In April 2020, the Court issued an order granting the parties’ Joint Motion to Stay All Deadlines and Notice of Settlement.

“We recognize Panasonic’s commitment to superior consumer products and global brand. We are proud to have the intellectual property to support the complex needs of a company like Panasonic and are pleased to provide them with critical IP rights to continue innovating,” Mr. Jon Scahill, CEO of Quest, commented. “As with all our portfolios it is our goal to work quickly and amicably to license our IP which is core to our business model and expertise.”


About Quest Patent Research Corporations

Quest is an Intellectual Property (‘IP’) licensing and commercialization company. The Company acquires and manages IP rights from a variety of sources, including large and small corporations, universities and other IP owners. Quest specializes in both mature and emerging technologies, delivering a suite of value add financial, strategic and legal resources to efficiently monetize IP throughout the full commercialization lifecycle.

Forward-Looking Statements

Statements made in this press release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by the use of words such as "may," "will," "plan," "should," "expect," "anticipate," "estimate," "continue," or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate, and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading "Risk Factors" in the Company's Annual Reports on Form 10-K, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.

Investor Contact:

Jon Scahill, Chief Executive Officer

PH: (888) 743-7577

Info@QPRC.com

  • QPRC

Financial Highlights for the Three Month Period Ended March 31, 2020:

· Revenues for the three months ended March 31, 2020 were approximately $870,000, an increase of approximately $495,000, or 132%, compared to approximately $375,000 the three months ended March 31, 2019.

· The increase in revenue is primarily due to an escalation in patent licensing fees of approximately $495,000.

· The patent licensing fees of $870,000 for the three months ended March 31, 2020 resulted from the licensing and/or settlements in the Power Management/Bus Control Portfolio and the CXT Portfolio.

· Net cash provided from operating activities improved year-over-year to $208,824.

IP Enforcement Highlights for Remainder of 2020:

· 2 matters currently stayed pending settlement agreements; dismissals expected in Q2.

· 4 active matters, all with trials docketed for the current calendar year.

For more information please refer to the Company’s 10-Q filing with the Securities and Exchange Commission.

411 Theodore Fremd Ave. Suite 206S
Rye, NY 10580

(888) 743-7577 | info@qprc.com

© 2019 Quest Patent Research Corporation

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