PENNEXX has Filed Another Patent, "Systems and Methods for Coupon Management and Redemption"
Pennexx (PNNX) has filed a patent application for its coupon management system, titled "Systems and Methods for Coupon Management and Redemption." This patent aims to protect its intellectual property and enhance the company's market value. Utilizing QR codes, the technology includes a cryptographic approach for user authentication, ensuring merchants can confidently manage and redeem coupons. CEO Vincent Risalvato highlighted the potential benefits for consumers and merchants, emphasizing the strategic importance of patents in safeguarding business assets against competitors.
- The patent application protects Pennexx's intellectual property, enhancing market position.
- The technology utilizes QR codes, a widely accepted method, improving user experience.
- The cryptographic approach ensures secure management and redemption of coupons, boosting merchant confidence.
- None.
Philadelphia, PA, Feb. 22, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- PENNEXX (PNNX), with patent attorney Stephen James Lewellyn, has filed a patent to protect the company's intellectual property and raise the value of the company.
Outlined in this patent is the use of QR codes that have become a well-known and well-understood technology as they have come into excellent service during the COVID pandemic.
According to Investopedia https://www.investopedia.com/articles/fundamental-analysis/09/valuing-patent.asp, "A patent is an exclusive right granted to an inventor for a fixed time period. A patent excludes others from making, using or selling the item in question for the duration of the patent's life."
This is important to Pennexx because it protects them from competitors entering the market and duplicating the technology Pennexx has invented. Major companies patent their technologies and consider them an asset to the business.
This patent application entitled "Systems and Methods for Coupon Management and Redemption" covers how the YourSocialOffers.com (YSO) system controls the management and redemption of coupons so that merchants can be assured that coupons are used appropriately. It includes a cryptographic approach that uses encrypted keys called private keys and public keys to create digital fingerprints known as signatures. The system uses those signatures to authenticate users.
This patent also outlines the method by which merchants can interact with the YSO system to accept and redeem coupons, an essential aspect of merchant confidence.
Vincent Risalvato, CEO of Pennexx, said, "Pennexx is poised to use these technologies to bring savings to millions of consumers and help merchants build their businesses."
For More Information
Pennexx will do their best to openly and publicly answer your questions and concerns via social media on Twitter https://twitter.com/pennexx @pennexx, or you may email investors@pennexx.net.
You may also follow them on Twitter; Joe Candito (@jcandito) https://twitter.com/jcandito, Ms. Sunny Sweet (@sunnysweettweet) https://twitter.com/sunnysweettweet and Mr. Risalvato (@vrisalvato) https://twitter.com/vrisalvato.
About Pennexx Foods Inc.
About Pennexx Foods Inc. (PNNX: OTCMKTS US). Pennexx, through its wholly-owned subsidiaries, is a holding company within the Software/Internet Industry focused on social media, prepaid debit cards, BitGift™, artificial intelligence, targeted marketing, and consumer rewards.
Safe Harbor Act: This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report.
For additional information, you may also visit our website at https://yoursocialoffers.com or https://pennexx.net or call 866-928-6409. Please follow us on Twitter @Pennexx.
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