DNA Brands Receives Trademark of Blockchain Based DNATags(TM) from USPTO
DNA Brands Inc. (OTC:DNAX), in collaboration with Santo Blockchain Labs (OTC: SANP), has received a trademark for DNATags™ from the USPTO, marking a significant milestone for the company. This third-party verified blockchain authentication technology aims to combat counterfeit pharmaceuticals, with over 10% of medications globally being counterfeit according to the FDA. CEO Adrian McKenzie expressed optimism about expanding DNATags™ into various medicinal markets, including CBD and counterfeit Covid-19 products, while the company currently has 5.9 million common shares outstanding.
- Trademark approval for DNATags™ enhances brand credibility.
- Strong market demand due to rising pharmaceutical counterfeiting incidents.
- Expansion plans targeting multiple medicinal markets, increasing potential revenue sources.
- Dependence on unproven technology in a highly regulated market.
- No assurance of achieving profitability or liquidity.
- Risks associated with new and rapidly evolving blockchain technologies.
FORT LAUDERDALE, FL / ACCESSWIRE / April 21, 2021 / Shreya Arora, Freelance Journalist, India
After an anticipated two month wait, DNA Brands Inc. (OTC:DNAX) in collaboration with Santo Blockchain Labs (OTC: SANP), is pleased to announce that the United States Patent and Trademark Office (USPTO) has granted the trademark for DNATags™. This news comes as a delight ahead of the company's plans to expand DNATags™, through various marketing and social media outlets.
DNA Brands in collaboration with Santo Blockchain Labs, developed and signed a joint venture for this unique third party verified blockchain authentication technology, DNATags™.
Both companies aim to provide a remedy for the many fraudulent and counterfeit malpractices which are being carried out in the Pharmaceutical World on a daily basis. According to a report by the World Health Organization (WHO), "The US Food and Drug Administration estimates that more than 10 percent of medicines in circulation in both developed and developing countries are counterfeit." Therefore, it is crucial that the consumers have the opportunity and ability to verify for themselves, whether they are consuming authentic drugs or the counterfeits. Both companies Mantra in regards to DNATags™ is " Authenticate before you Medicate"
In case you are wondering the extent of the impact and the importance of such a technology which both companies intend to bring to various medicinal market places. Here is some data: According to a worldwide market survey published on Statista, "the total number of counterfeit incidents concerning pharmaceuticals worldwide has exponentially risen from 196 reported cases in 2002 to over 5000 in 2019 and is only rising higher."
On receiving this trademark and talking about the expansion plans, Adrian McKenzie, CEO of DNA Brands said, "We are pleased with this milestone and will now look forward to begin marketing to the vast counterfeit medicinal markets such as, but not limited to; Medicinal Marijuana, the CBD market, the counterfeit Covid-19 Black market and any other Medicinal market or opportunity that presents itself. This technology is not limited, it can be used in Any market."
In addition to address a question that management receives often; the common share structure is as follows:
5.9MM common shares issued and outstanding
3.5MM common shares owned by management (insiders)
2.5MM common shares in the float (public hands).
ABOUT DNATags™ and DNARewards™
DNATags™ and DNARewards™ are owned and operated by DNA Brands, Inc. and Santo Blockchain Labs. DNATags™ is a Third party verified Blockchain Authentication Solution allowing consumers to validate the authenticity of their potential purchase products. At the same time earning rewards via DNARewards™.
DNA Brands is a Holding company. The primary asset of the company is the Two time Award Winning Energy Drink line (DNA ENERGY). The flavors are citrus, lemon lime, citrus sugar free, and cranberry raspberry sugar free flavors under the DNA Energy Drink brand name. At present the company owns all the IP that developed the energy drink line. Since March 2020, the company has engaged in solar digital marketing and sales. In January 2021, the company signed a joint venture with Santo Blockchain Labs, to brand and market DNATags™
SANTO is a software development company that focuses on the development of blockchain smart digital contracts and IoT internet of things for everyday life. The Company also operates a website at https://santopool.com (ADAPOOL Ticker: SANP) that provides cryptocurrency staking service to potential Cardano (ADA) holders. Though its
CONTACT:
Adrian McKenzie-Patasar
561-654-5722
info@dnabrandsinc.com
www.dnabrandsinc.com
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical fact included in this presentation are forward-looking statements. These statements relate to analyses and other information, which are based on forecasts of future results and estimates of amounts not yet determinable. These statements also relate to our future prospects, developments, and business strategies. These forward-looking statements may be identified by the use of terms and phrases such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "target," "will" and similar terms and phrases, including references to assumptions. However, these words are not the exclusive means of identifying such statements. Although we believe that our plans, intentions, and expectations reflected in or suggested by such forward-looking statements are reasonable, we cannot assure you that we will achieve those plans, intentions, or expectations. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected or may prove unachievable.
The Company's business and prospects must be considered in light of the risks, expenses, and difficulties frequently encountered by companies working with new and rapidly evolving technologies such as blockchain. These risks include, but are not limited to, an inability to create a viable product and risks related to the issuance of tokens. Furthermore, the Company's business contemplates participation in a highly regulated space of consumer finance and associated customer data and therefore may face regulatory and execution challenges, particularly in light of the novelty of the concept. The Company cannot assure you that it will succeed in addressing these risks, and our failure to do so could have a material adverse effect on our business, financial condition, results of operations, and prospects. There can be no assurance as to whether or when (if ever) the Company will achieve profitability or liquidity. The forward-looking statements included in this press release are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events, or otherwise, except as otherwise.
SOURCE: DNA Brands Inc.
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FAQ
What does the USPTO trademark for DNATags™ signify for DNA Brands Inc.?
How does DNATags™ help combat counterfeit drugs?
What markets is DNA Brands targeting with DNATags™?
What is the common share structure of DNA Brands Inc.?
What risks does DNA Brands Inc. face with its DNATags™ technology?
