QPRC Issues IP Portfolio Update - CXT Systems

Licensees include Container Store, Pier 1, GNC, Hallmark and Fossil

RYE, NY – 04/20/2020 – Quest Patent Research Corporation (OTCQB: QPRC) ("Quest" or "Company"), an Intellectual Property asset monetization company, today provided a shareholder update on their CXT Portfolio.

Mr. Jon Scahill, CEO of Quest, commented, “The successful licensing of the CXT portfolio is a great example of the Company’s capability to identify, acquire and monetize intellectual property assets. But more importantly, I believe it points to a bright future for Quest and its shareholders as we seek to continue to build our portfolio of assets and increase the number of active licensing programs on those assets.”

Quest owns and/or controls 10 intellectual property portfolios, comprised of more than 115 domestic and foreign patents. The CXT Portfolio represents 30 United States patents which cover 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.

Since April 2018, patent infringement suits were filed in the United States District Court for the Eastern District of Texas against 15 retail and consumer U.S. brands. As of December 31, 2019, 9 actions were resolved, 3 actions were stayed pending settlement, and the remaining 3 actions were pending due process in the court system.

To date, Fossil, Academy, Container Store, Pier 1, GNC, Hallmark, 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.

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

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. For more information about Quest please visit www.qprc.com

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 Letter to Shareholders

Dear Shareholders,

I hope this letter finds you safe, healthy and abiding by the recommendations of our brave healthcare professionals to help mitigate the spread of the COVID-19 virus. The world certainly feels dramatically different than it did at the time of our last update. However, amidst the upheaval, our team has remained focused on executing our strategy. Our accomplishments in 2019 have laid the foundation for a very busy remainder of 2020.

Our strategy is deeply rooted in our philosophy that patents remain a mispriced asset class which is uncorrelated to the broader market and represent a compelling opportunity for companies with expertise such as ours. With a proven ability to identify valuable assets and a stable of best in class counsel and experts to engage them with; we believe Quest is conditioned with regard to the fundamental opportunities ahead.

2019 Operational Highlights:

• 14 matters resolved, generating more than $4 million dollars in revenue.

• 9 of the 16 matters active as of December 31, 2019 were either dismissed or stayed pending final settlement agreement as of the end of Q1.

• 7 active matters with 5 trials docketed for 2020 with additional programs staged for launch.

• 68 patent assets added to the portfolio via the M-Red acquisition.

• Uplist to the OTCQB Venture Market in an effort to provide additional transparency, value and liquidity to shareholders.

Our focus continues to be delivering long-term shareholder value. As one of the largest shareholders, I strongly believe value results from building a large, diversified asset base, and engaging those assets in strategically structured licensing programs. Long-term shareholder value is not dependent on any one portfolio, patent, case or defendant. We are building a quality portfolio of assets that can provide a consistent revenue stream, as opposed to singular litigation opportunities. We intend to accomplish that by seeking the best assets, partners, structures and strategies. A defendant in a patent infringement litigation has 27 patent defenses, fail in overcoming any one of them, and its game over. We believe the antidote to that type of systematic risk is diligence, diversification and dispassionate decision-making.

Strategic Growth Plan:

• Evaluate every opportunity to expand and further diversify our portfolio;

• Trust our analytically driven diligence process to identify targets for addition to a diversified portfolio of high quality assets;

• Continue to explore strategic partnerships and management additions to augment our sourcing, acquisition and investor communication capabilities;

• Engage best in class counsel and experts in a manner that shares risk and align interests while maximizing our economics – note that full contingency does not make sense for every firm or every case, especially complex technology which bring substantial out of pocket cost;

• Scale our operations through the launch of multiple structured licensing programs across multiple portfolios, resulting in a broadly diversified portfolio of licensing investments and programs;

• Maintain our commitment to a data driven, analytic, dispassionate and commercially minded approach to strategic licensing program management.

Management strives to communicate as much information as possible. However, aside from the publicly available information filed with the Court, significant aspects of the litigation process are strictly confidential. Furthermore, much of what is available and important can be difficult to identify and interpret. The result is that, what may appear to be a binary outcome driven business, is really a business driven by our ability to anticipate, assimilate and adapt to the ever shifting landscape of each litigation.

Ultimately, we work with counsel to ensure compliance, be as transparent as possible and not undermine our monetization strategy. We welcome shareholder feedback as we continue to seek to strike the appropriate balance.

I am confident that we are well positioned to leverage the unique opportunities before us and are excited for the year ahead.

Sincerely,

Jon Scahill

President & CEO

Statements made in this post 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.

Quest Closes an Active 2019, Looks Ahead to 2020

· 14 Matters Resolved in 2019

· 4 Matters Resolved or Stayed Pending Settlement YTD

· 16 Active Licensing Programs: 10 Claim Construction Hearings and 12 Trials Docketed in 2020

· Patent licensing revenues totaled $2 million in first three quarters of 2019; Full year results due March 30, 2020

Quest completed an active year of licensing programs, resolving 14 matters in 2019. With 16 active programs and a 2020 docket that currently includes 10 claim construction hearings and 12 trials, Quest is well positioned to maintain an active calendar across a solid portfolio of diverse intellectual property (IP) assets this year. A summary of the upcoming events is available here.

The company settled actions with the likes of Amazon, TiVo, Pier 1 Imports, and Netgear to name a few. the Company resolved two actions in 2019 with AsusTek Computer Inc, involving its wholly owned subsidiaries Photonic Imaging Solutions and Mariner IC, and resolved the case involving wholly owned subsidiary Semcon IP’s Power Management Portfolio on January 28, 2020.

By way of example, the Power Management/Bus Controller Portfolio, acquired by Quest from Intellectual Ventures in October 2015 and transferred to Semcon IP Inc., consists of four United States patents that cover basic technology for adjusting the processor voltage and clock to save power based on processor operating characteristics and one United States patent that relates to coordinating direct bus communications between subsystems in an assigned channel. Since acquiring the portfolio, Semcon has resolved matters against Texas Instruments, MediaTek, ZTE, Huawei, STMicroelectronics, Michael Kors, Kyocera and Amazon. Semcon currently has three pending matters involving the portfolio against TCT Mobile International, Louis Vuitton North America, Inc., and Shenzhen OnePlus Science & Technology. Trials have been docketed in all three matters for the late third and fourth quarters of 2020, though all dates are subject to change by the court.

In a recent interview, Quest’s CEO Jon Scahill stated that the Company “certainly saw significant activity in 2019, further demonstrating the value of our intellectual property portfolio. However, our goal as management is always to strive to do more, build more, and deliver more long-term value to our shareholders and partners. That means a continued focus on adding high quality assets to create more opportunities to do so.” With 4 matters already resolved or stayed pending settlement this year, and 16 active matters – and 12 trials docketed for 2020 – management appears to have Quest well positioned in that regard.