Elektros Issues Cease-and-Desist to Major Automaker Over EV Patent Infringement, Eyes Licensing & Buyout Deals
ELEK has more than doubled off its 52-week low of $0.002 on elevated volume (2.2× avg).
Summary
Elektros announced it issued a cease-and-desist notice on May 5th to an unnamed major global automotive manufacturer over potential infringement of its EV charging patent. The company also plans to initiate discussions for licensing agreements and potential acquisition or buyout proposals for its patent portfolio. This follows earlier news about securing the patent and engaging with a major automotive technology company, as well as a May 7th announcement about monetizing the patent. For this microcap, actively pursuing legal action and monetization strategies for its core IP is a material step towards realizing value from its intellectual property.
At the time of this announcement, ELEK was trading at $0.01 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $3.3M. The 52-week trading range was $0.00 to $0.10. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: ACCESS Newswire.