Volkswagen Acknowledges Elektros' EV Charging Patent Claim, Initiates Review
ELEK has more than doubled off its 52-week low of $0.002 on elevated volume (2.7× avg).
Summary
Elektros Inc. announced that Volkswagen Group of America has acknowledged receipt of Elektros' communication regarding its U.S. Patent No. 12,522,100 for a multi-port EV charging assembly. Volkswagen's legal team will now review the patent and the matters raised. This directly follows Elektros' cease-and-desist notice issued on May 8th to a major global automotive manufacturer, now identified as Volkswagen. For a micro-cap company, a potential patent infringement or licensing agreement with a major automaker could be a highly material event. Traders will watch for Volkswagen's formal response following their review.
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 $2.9M. The 52-week trading range was $0.00 to $0.10. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: ACCESS Newswire.