year-end results Business Editors WESTPORT, Conn.--(BUSINESS WIRE)--University Patents Inc. (ASE:UPT) Thursday released its fourth quarter and annual results, for the fiscal year ended July 31, 1993. A UPT spokesman also announced the signing of a third agreement to license its conductive polymer battery patents, invented at the University of Pennsylvania. The agreement is with Unitika Ltd., Osaka, Japan. It gives Unitika the right to manufacture and sell polymer batteries and to manufacture and sell patented conductive polymer film and electrodes to other battery makers, who first must obtain license rights from UPT. The spokesman noted that the other licensees are Bridgestone Corp. and Seiko Instruments Inc., and that discussions are ongoing with several other Japanese companies that have polymer batteries in various stages of development. This includes one large company that UPT believes is currently selling batteries that may infringe its issued U.S. patents. The UPT spokesman also described a joint venture between UPT and Mogee Research & Analysis Associates that received a Phase II Small Business Innovation Research (S.B.I.R.) grant in the amount of approximately $300,000. Mogee Associates, which is affiliated with the National Science Foundation (N.S.F.) Center for Innovation Management Studies at Lehigh University, will use the funds to complete a software package that links international patent citations to key aspects of corporate technology strategy development. This package is viewed as an important tool for maximizing global competitiveness, and should be useful for evaluating future performance of technology-based firms. UPT's role will be to act as the exclusive agent for commercializing the software package upon its completion. Since its founding more than 25 years ago, University Patents has focused primarily on seeking commercial applications for technologies developed at universities. Its portfolio of patent rights numbers over 200 and, in addition to the conductive polymer battery, includes such technologies as Retin-A, and anti-wrinkle skin treatment, also developed at the University of Pennsylvania; a Vitamin B12 assay, and a designer drug technology based upon ribozymes, both developed at the University of Colorado; and PerioGard, a periodontal disease monitoring kit developed at the University of Illinois. University Patents Inc. Financial Highlights Fourth quarter ended Fiscal year ended July 31, July 31, 1993 1992 1993 1992 Revenues: Retained royalties $ 203,882 $ 154,991 $ 650,651 $ 504,143 Contract revenues 36,565 -- 84,470 -- Computer-based education services 577,787 517,142 $2,183,276 2,030,291 Total revenues 818,234 672,133 2,918,397 2,534,434 Gain on issuance of shares by subsidiaries 232,594 -- 232,594 44,018 Losses related to equity method affiliates (744,568) (107,767) (1,021,700) (503,882) Loss from continuing operations (803,307) (249,877) (1,896,534) (1,167,015) Loss (income) from discontinued operations (27,364) 63,176 (9,314) 180,504 Net loss $ (830,671) $(186,701) $(1,905,849) $ (986,511) Net loss per common share: Continuing operations $ (.15) $ (.05) $ (.35) $ (.23) Discontinued operations -- .01 -- .04 Net loss $ (.15) $ (.04) $ (.35) $ (.19) Weighted average number of shares outstanding 5,478,082 5,170,041
UNIVERSITY PATENTS INC. RELEASES
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