- The INEO Welcoming System DUO patent gives INEO strong protection for its innovative technology to display Retail Media advertising to customers entering a retail store.
Surrey, British Colombia--(Newsfile Corp. - September 5, 2024) - INEO Tech Corp. (TSXV: INEO) (OTCQB: INEOF) (the "Company" or "INEO"), the operator of INEO Retail Media, today announced it has been granted a US Patent for the dual screen version of its disruptive market technology, branded the INEO Welcoming System DUO.
US Patent number US D1,038,123 S was issued to INEO on August 6, 2024. The patent is valid for 15 years from the date of issue. The INEO Welcoming System DUO was first announced on June 22, 2022. Patents are pending in multiple other jurisdictions around the world and INEO believes they will be issued in due course.
"The INEO team took on a very difficult engineering problem and did an incredible job delivering a product which satisfies all the requirements of a leading Electronic Article Surveillance ("EAS") loss prevention system and an in-store Retail Media device with two large, bright advertising screens," said Greg Watkin, Founder and Chairman of INEO. "The double-sided, large screen advertising system is ideal for retailers with multiple door entrances and exits as the device can display advertising on either side while still protecting the retailer from theft. The display screen on each side can be addressed independently and can serve ads on a unique schedule from each other, doubling the number of impressions available to the INEO Retail Media team to sell. The content on the screens is controlled by INEO's cloud-based content management system or via an integration to a retailer's content management system of choice. It is the ideal in-store Retail Media device to promote products and message customers."
The INEO Welcoming System DUO utilizes the same technology the Company originally designed for the INEO Welcoming System which allows it to operate in both the Accousto-Magnetic (AM) 58KHz frequency spectrum and the 8.2MHz frequency spectrum. Additionally, the INEO Welcoming System can detect and report RFID tags at the same time as detecting the other frequencies, making it a key component of retailers "Smart Entrance/Exit" initiatives. Digital display screens are inherently radio frequency "noisy" as they cause electromagnetic interference which hinders the detection of loss prevention tags in a retail store; however, INEO has developed technology which allows the EAS loss prevention and the RFID detection aspects of the system to still operate effectively with two large digital display screens located within the detection field.
The INEO Welcoming System DUO preserves the same base form factor of the original INEO Welcoming System allowing for visual uniformity within the retail store. The INEO Welcoming System DUO is the same height and width as the standard INEO Welcoming System and is only 2.3 centimeters (1 ¼ inches) wider. The sleek design is a function of the proprietary technology INEO has developed.
INEO Tech Corp.
Per: "Kyle Hall"
Kyle Hall, Chief Executive Officer and Director
About INEO Tech Corp.
INEO Tech Corp., through its wholly owned subsidiary, INEO Solutions Inc., operates the INEO Media Network, a digital advertising and analytics solution for retailers, and INEO Retail Media, an advertising sales provider for in-store retail media. INEO is headquartered in Surrey, Canada and publicly traded on the TSX-Venture Exchange under the symbol "INEO" and on the OTCQB under the symbol "INEOF".
For more information please visit:
Websites: www.ineosolutionsinc.com and www.ineoretailmedia.com
LinkedIn: https://www.linkedin.com/company/ineosolutions
Forward-Looking Statements
Investors are cautioned that, except as disclosed in the disclosure document, any information released or received with respect to the Company may not be accurate or complete and should not be relied upon. Trading in securities of the Company should be considered highly speculative.
This news release contains statements and information that, to the extent that they are not historical fact, may constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives or economic performance, or the assumption underlying any of the foregoing. This news release uses words such as "may", "would", "could", "likely", "expect", "anticipate", "believe", "intend", "plan", "forecast", "project", "estimate", "outlook", and other similar expressions to identify forward-looking information. Forward-looking information involves significant risks, assumptions, uncertainties and other factors that may cause actual future results or anticipated events to differ materially from those expressed or implied in any forward-looking statements and accordingly, should not be read as guarantees of future performance or results. There are a number of important factors that could cause the Company's actual results to differ materially from those indicated or implied by forward-looking statements and information. Other factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed on SEDAR, including the Company's most recent annual and interim Management Discussion and Analysis and Financial Statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except to the extent required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Kyle Hall
Investor Relations, INEO Tech Corp.
investor@ineosolutionsinc.com
(604) 244-1895
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222201
SOURCE: INEO Tech Corp.
