And to the extent relationships involve more than strategic conversations, we are keeping the investment banking team at B. Riley very busy. While all this goes on, the Company continues filing additional patent infringement and trademark actions.
Speaking of patents, the Company's United States health IT portfolio has recently been re-valued to add Japan which increased it to as much as $1.3 billion. As yet, the Company does not have a valuation on Australia, Singapore, South Korea, Hong Kong, New Zealand, Mexico, Canada, Israel, and European nations which when added could increase the number significantly. Australia and Singapore are currently the subject of active investigation into infringement matters at this time. http://phx.corporate-ir.net/phoenix.zhtml?c=178404&p=irol-newsArticle&ID=1815638&highlight.
The MMR Patent Portfolio was created about the same time that the Office of the National Coordinator for Health Information Technology was formed. The MMR Patent Portfolio was granted over nearly an eight-year period of time as part of a multi-million dollar effort to create shareholder value through the ownership of patents and other intellectual property in 12 countries around the globe. Because there are thousands of patented products in every healthcare professional's office and hospital, from the design of a handle on a scalpel to components of the most sophisticated imaging equipment, the healthcare industry has shown it respects the patent system, and, based on our experience so far, we feel good about our ability to license and monetize these patents on behalf of our shareholders. In fact, we are not aware of a situation where an industry has paid so much attention to the value of a patent portfolio since Samsung and Apple went to court, which further makes us feel good about the future.
The fact that the MMR patents are the subject of worldwide media attention, and in the United States alone, the Company believes that more than 3000 hospitals and healthcare providers do, or will, infringe on the Company's IP by the end of 2014, should make for a very good next few years.
In closing, my favorite Bachism is, "You are never given a wish without the power to make it true. You may have to work for it, however." So Kira, I am sorry I will be late for dinner tonight.
Robert H. "Bob" Lorsch, CEO, MMRGlobal
4401 Wilshire Blvd., 2nd Floor, Los Angeles, CA 90010, Tel. 310-476-7002
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