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Monday, 30 January 2006 09:04

QPSX raises $2.5M to fund IPR assertion

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QPSX has announced plans to accept subscriptions for over 22 million shares at 11 cents per share to raise $2.5 million.

It said the majority of the shares would be placed with a major international equity investor based in London and the remainder to other international investors. The price represents a 12 percent premium to the average of recent trading prices.

QPSX says its focus is "the profitable commercialisation of a range of physical and life science technologies on a global basis" and that it "identifies valuable intellectual property from research institutions and companies across Asia Pacific, and realises value through international IP licensing programs and the formation of spin-out companies."

However its initial focus, and much of its effort and expenditure to date, has gone into attempting to assert its intellectual property rights over several established and widely used technologies. It has recently shown some signs of success, with the granting of a US patent, but has yet to secure any significant licensing revenue from these endeavours.

CEO, Graham Griffith said the funds raised would provide additional working capital to support the company's efforts and the move demonstrated "recognition of the value in the company's intellectual property portfolio...The global nature and potential of QPSX's licensing business is increasingly being understood, especially amongst international investors."


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