SPYR’s Subsidiary GeoTraq Granted Patent Covering Various Aspects of Operation of Its Mobile IoT Wireless Modules

Rhea-AI Summary

SPYR Technologies, a tech firm, announced that its subsidiary GeoTraq has received Patent No. 10,182,402 for its mobile IoT wireless modules. This technology aims to enhance Location Based Services (LBS) by providing lower-cost, smaller, and longer-lasting solutions. GeoTraq's modules utilize global mobile IoT networks for connectivity, addressing gaps in the current LBS market. CEO Tim Matula emphasized the significance of this intellectual property for market penetration in asset tracking and sensor monitoring, aiming to benefit shareholders through investment and innovation.

Positive

• GeoTraq received Patent No. 10,182,402, enhancing its technology portfolio.
• The patented technology aims to lower deployment costs for Location Based Services.
• GeoTraq's modules are designed to be smaller and have a longer service life.

Negative

• None.

THE WOODLANDS, Texas, June 14, 2022 (GLOBE NEWSWIRE) -- via InvestorWire – SPYR Technologies (“SPYR” or the “Company”), a technology company, announces today that the company’s subsidiary Geotraq has been granted a patent which covers various aspects of operation of its mobile IoT wireless modules.

Chris Chammas, project engineer, stated, “GeoTraq is a mobile Internet of Things (“IoT”) technology company that designs innovative wireless modules that provide Location Based Services (“LBS”) and connect external sensors to the IoT. GeoTraq is planning to manufacture and sell wireless transceiver modules and subscription services that will allow connectivity using publicly available global mobile IoT networks. GeoTraq addresses the large LBS market segment that is currently underserved with existing solutions due to high deployment costs (hardware, service, logistics), limited battery life and large form factors. We believe there is a large, underserved portion of the LBS market that is not addressed by existing solutions. RFID and Wi-Fi require proximity for asset tracking, while GPS is too bulky and uses too much power for many needs. GeoTraq addresses the white space in-between by designing wireless transceiver modules with technology that provides LBS directly from global mobile IoT networks. GeoTraq’s technology allows for a substantially lower cost solution, extended service life, a small form factor, and even disposable devices, which we believe can significantly reduce return logistics costs.”

GeoTraq applied for and was granted Patent No. 10,182,402, which covers various aspects of operation of its mobile IoT wireless modules. A description of the patent features and its various claims includes:

1. An apparatus comprising of: an interval timer; a power control; a Short Message Service (SMS) packetizer; a geo-locator; a radio frequency (RF) communicator; a controller and a memory, with the memory comprising instructions for the controller to operate the interval timer cooperatively with the power control to cause a transition of the geo-locator from a sleep state to a wake state after a preset defined time interval, and to operate the geo-locator to receive signal strength levels and corresponding cell IDs from a plurality of cellular base stations, and to operate the SMS packetizer to package the signal strength levels and the corresponding cell IDs into a first outgoing SMS message, and to communicate the first outgoing SMS message to a preset address using the RF communicator.

2.The apparatus of claim 1, is further comprising of: a subscriber identity module (SIM); and the memory further comprising instructions to block visibility to the SIM by the geo-locator for a limited duration after the transition of the geo-locator from the sleep state to the wake state after the defined time interval.

3.The apparatus of claim 2, further comprising: the memory further comprising instructions to override a preset floor on the signal strength levels during the limited duration after the transition of the geo-locator from the sleep state to the wake state after the defined time interval.

4.The apparatus of claim 1, further comprising: the memory further comprising instructions to operate the SMS packetizer to package the signal strength levels with the corresponding cell IDs.

5.The apparatus of claim 1, further comprising: the memory further comprising instructions to receive a command SMS message via the RF communicator; a parser to extract a time interval command from the received command SMS message; and the memory further comprising instructions to apply the time interval command to the interval timer to set the defined time interval.

6. The apparatus of claim 1, further comprising: the memory further comprising instructions to receive a response SMS message via the RF communicator, the response SMS message being a response to the first outgoing SMS message; a parser to extract geo-locations for cell IDs from the response SMS message; and the memory further comprising instructions to associate the geo-locations for each of the cell IDs from the response message with corresponding cell IDs in the memory.

7. A method comprising of: applying an interval timer to a power control to control power for a subscriber identify module (SIM), a SMS packetizer, a geo-locator, and a radio frequency (RF) communicator after a preset defined time interval; operating the interval timer cooperatively with the power control to cause a transition of the geo-locator from a sleep state to a wake state after the defined time interval; operating the geo-locator to receive signal strength levels and corresponding cell ids from a plurality of cellular base stations; operating the SMS packetizer to package the signal strength levels and the corresponding cell IDs into an outgoing SMS message; and communicating the outgoing SMS message to a preset address using the RF communicator.

8. The method of claim 7, further comprising: blocking visibility to the SIM by the geo-locator for a limited duration after the transition.

9. The method of claim 8, further comprising: overriding a preset floor on the signal strength levels during the limited duration after the transition.

10. The method of claim 7, further comprising: receiving a command SMS message via the RF communicator; extracting a time interval command from the command SMS message; and applying the time interval command to the interval timer to set the defined time interval.

11. The method of claim 7, further comprising: receiving a response SMS message via the RF communicator in response to the outgoing SMS message; extracting geo-locations for cell IDs from the response SMS message; and associating the geo-locations for each of the cell ids from the response SMS message with corresponding cell IDs in a memory.

Tim Matula, SPYR CEO, commented: "We acquired significant intellectual property rights when we acquired GeoTraq, including the patented GeoTraq technology, that will position us into a sizable market ready to embrace IoT devices able to locate, monitor and track the movement of inventory, and a wide variety of other assets including the ability to monitor connected sensors. We expect to invest, manufacture, market and successfully leverage this technology for the benefit of our shareholders.”

About SPYR Technologies

SPYR Technologies (SPYR) is a technology company which, through its subsidiary Applied Magix Inc., develops and resells Apple® ecosystem compatible products, with an emphasis on the growing multibillion-dollar IoT smart home and connected car markets and also through its subsidiary GeoTraq develops and manufactures fully entirely self-contained, ultra-small Mobile IoT (Internet of Things) modules: Tracker-M modules for asset tracking and location-based services, and Sensor-M modules used for remote monitoring. SPYR continues to identify and target acquisitions that will grow its footprint in the industry and expand the products it offers consumers, including companies developing artificial intelligence (AI) and smart technology products.

About Applied Magix

Applied Magix, Inc. develops and resells Apple® ecosystem compatible products in the growing multibillion-dollar IoT smart home and connected car markets.

About GeoTraq

We have a vision for a simple, smart, connected world. We empower that vision through our self-contained, fully integrated, Mobile IoT modules. Our modules are designed with a small plug and play form factor for easy attachment of antenna, battery, and sensors. Combined with low-cost connectivity, GeoTraq creates real ROI for all customers.

Forward-Looking Statements

This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law. Investor Contact: (303) 991-8000 ir@spyr.com

Company Name: SPYR Inc, dba SPYR Technologies

Address: 6700 Woodlands Parkway, Ste 230 #331

The Woodlands, TX 77382

Email Address: ir@spyr.com

Public Relations Contact: ir@spyr.com

Email address: ir@spyr.com

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FAQ

What patent did SPYR Technologies' subsidiary GeoTraq receive?

GeoTraq received Patent No. 10,182,402 for its mobile IoT wireless modules.

How does GeoTraq's technology impact the Location Based Services market?

GeoTraq's technology provides a lower-cost, smaller, and longer-lasting solution for Location Based Services, addressing underserved market segments.

What are the expected benefits of the patent for SPYR shareholders?

The patent is expected to enhance SPYR's market presence in asset tracking and sensor monitoring, benefiting shareholders through potential growth and innovation.

How does GeoTraq's technology differ from existing solutions?

GeoTraq's technology offers advantages over existing solutions by utilizing mobile IoT networks, which reduce costs and support smaller forms of asset tracking.