UAT Group Strategic Partner NextCast Receives Patent Approval

Rhea-AI Summary

Umbra Applied Technologies Group (OTC Pink: UATG) announced that its strategic partner, Next Casting Technologies, has received a Notice of Allowance from the U.S. Patent Office for its SmartCast, IntelliBrace, and BioSplint technologies. This signifies the final step before entering production. The SmartCast system allows for quick and effective casting, producing a waterproof and antimicrobial orthopedic cast. Production is expected to begin soon, with revenues anticipated to be reported in Q1 2022.

Positive

• Next Casting Technologies received a Notice of Allowance for patented production of SmartCast, IntelliBrace, and BioSplint technologies.
• SmartCast offers faster and more effective casting, resulting in a superior standard of care for patients.

Negative

• None.

Tampa, FL, Oct. 18, 2021 (GLOBE NEWSWIRE) -- Umbra Applied Technologies Group, Inc (OTC Pink: UATG) (“UAT Group”) announced today that strategic partner Next Casting Technologies has received its Notice of Allowance from the United States Patent Office, paving the way for its advanced SmartCast, IntelliBrace and BioSplint technology to enter into patented production.

UAT Chief Executive Officer Alex Umbra, stated, “The NextCast SmartCast system has been under development and testing for quite some time. This is the final step of a lengthy patent process before entering the production phase of these product lines.”

Next Casting Technologies (NCT) is a research and design-centric, biomedical technology company, with an expanding portfolio of intellectual property. The SmartCast Application allows the casting technician to slip the SmartCast around the affected limb and position to fit by using a simple “mold and hold” technique. Lastly, the cast is activated by pressing the button to initiate the curing process.  Within 4 minutes that cast is hardened, fixed in place and is not dependent on the technician’s artistry, or lack thereof. The results are a predictable standard of care across the patient spectrum. The end result is a completely waterproof, antimicrobial, orthopedic cast, that is time saving for clinicians and a superior standard of care for patients. 

Mark Estrada, Chief Executive Officer of NextCast commented, “This is what we have been waiting for.  We initially filed with an expanded overview of the technology to include casting, bracing and splinting.  Now that the United States Patent Office has approved this outline we can proceed with continuing claims. I am excited to move forward to the production phase of this new and exciting product line”.

The company anticipates beginning production of the SmartCast product line and sharing the technology via our updated web site in the coming weeks with revenues being reported on its financial statements in Q1 2022.

For more information about NextCast go here: https://nextorthocast.com/

For more information about UAT go here: http://umbraappliedtechnologies.com/

About Umbra Applied Technologies Group, Inc.

The firm is located in Tampa Florida and focuses on advanced technologies across many disciplines. UAT Group is a holding company with interests in both public and private companies during the early stages of development as well as growth stages of companies with a synergistic business model to UAT Group subsidiaries.

For more information visit www.uatgroup.com

Investor and Media Contact: UAT Group at info@uatgroup.com

NEITHER THE SECURITIES EXCHANGE COMMISSION NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Forward-Looking Information

This news release may include "forward-looking statements" including forecasts, estimates, expectations, and objectives for future operations including but not limited to its ability to conclude a business combination with a third party, sale of assets, return of capital or initial public offering and a secondary listing on the OTC as a result of aforementioned and its ability to fund the exploration of its assets through the raising of equity or debt capital or through funding by a joint venture partner that are subject to a number of assumptions, risks, and uncertainties, many of which are beyond the control of Umbra Applied Technologies Group including but not limited to capital markets and securities risks and continued development success on technology. There can be and are no actual or implied guarantees that any of the above activities will be completed or completed on terms acceptable to the Company and its shareholders or approved by any regulatory authority having jurisdiction. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Umbra Applied Technologies Group does not assume the obligation to update any forward-looking statement, except as required by applicable law.

FAQ

What recent news did UATG announce regarding Next Casting Technologies?

UATG announced that Next Casting Technologies received a Notice of Allowance from the U.S. Patent Office for its SmartCast, IntelliBrace, and BioSplint technologies, allowing for patented production.

When will UATG likely report revenues from SmartCast?

UATG anticipates reporting revenues from the SmartCast product line in Q1 2022.

What is the significance of the Notice of Allowance for UATG's partner?

The Notice of Allowance is a critical step that allows Next Casting Technologies to proceed with producing and marketing the SmartCast, IntelliBrace, and BioSplint technologies.

What advantages does the SmartCast system provide?

The SmartCast system allows for quick application, creating a waterproof and antimicrobial orthopedic cast, enhancing patient care.