Infinite Networks (CE) (USOTC:INNX)
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From Jan 2020 to Jan 2025
Infinite Networks Corporation (Pink Sheets: INNX)
announced today that the Board of Directors approved the activation of
their previously negotiated Patent Option with CET International.
Infinite Networks Corporation exercised its Patent Option to own 40%
of CET International, Inc., which includes all patents, rights and
title to CET's Combustible Engine Technology. This is part of the
exclusive worldwide license agreement Infinite acquired with the
acquisition of CET, LLC in January 2006. INNX activated the option for
the initial consideration payment of $450,000.00.
In an interview with the President of Infinite, Mr. Bush, stated,
"This is a critical milestone for Infinite Networks Corporation to be
able to lock in long term rights and significant percentage ownership
of the CET Technology. Pursuant to the original licensing agreement
Infinite could acquire up to 40% of the rights, and title to the CET
Patent. This move was important to ensure that the Company continues
to invest in infrastructure and future Company operations. The Board
of Directors approved the activation of the option to provide
shareholder protection and stability as the Company moves forward.
Now, with this additional piece in place, Infinite becomes a key
player in the engine development market."
Infinite Networks Corporation markets High Efficient Advance
Technology "H.E.A.T." through CET, LLC for the global Automotive and
Marine/Boating industries.
This release contains forward-looking statements that are made
pursuant to the safe harbor provisions of the Securities Litigation
Reform Act of 1995. Some of the statements contained in this press
release include forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended (the "Securities
Act"), and Section 21E of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), that involve substantial risks and
uncertainties. Some of the forward-looking statements can be
identified by the use of words such as "anticipate," "believe,"
"estimate," "may," "intend," "expect," "will," "should," "seeks" or
other similar expressions. Forward-looking statements are based
largely on management's expectations and involve inherent risks and
uncertainties. These risks include, but are not limited to, the demand
for implementation of Infinite Networks Corporation services and the
ability of the company to successfully implement its strategies, each
of which may be impacted, among other things, by economic and/or
competitive conditions. You should not place undue reliance on any
forward-looking statement, which speaks only as of the date made. Many
of these factors are beyond our control. The Company cautions that the
foregoing factors are not exclusive.