Visualant, Inc. focuses on the development of a proprietary technology, which is capable of identifying and authenticating almost any substance using light to create, record and detect the digital ‘signature’ of the substance. The company calls this its ‘ChromaID’ technology. Products The company’s first delivered product, the ChromaID Lab Kit, scans and identifies solid surfaces. The company is marketing this product to customers who are considering licensing the technology. Target markets include, but are not limited to, commercial paint manufacturers, pharmaceutical equipment manufacturers, process control companies, currency paper and ink manufacturers, security card manufacturers, cosmetic companies, scanner manufactures, water purification and quality companies, and food processing companies. The company’s second product, the ChromaID Liquid Lab Kit, scans and identifies liquids. This product is in prototype form. Similar to the company’s first product, it would be marketed to customers who are considering licensing the technology. Rather than use an LED (light-emitting diode) emitter to reflect light off of a surface that is captured by a photodiode to generate a ChromaID signature the liquid analysis product shines light through the liquid (transmissive) with the LEDs positioned on one side of the liquid sample and the photo detectors on the opposite side. This device is in a functional state in the company’s laboratory and it anticipates having a Liquid ChromaID Lab Kit available for customers by the company during the fall of 2015. Target markets include, but are not limited to, water companies, petrochemical companies, pharmaceutical companies, and various consumer applications. The ChromaID Lab Kits allows potential licensors of the company’s technology to work with its technology and develop solutions for their particular application. The company owns TransTech Systems, Inc. (TransTech) as an adjunct to its business. TransTech is a distributor of products, including systems solutions, components and consumables, for employee and personnel identification in government and the private sector, document authentication, access control, and radio frequency identification. TransTech provides these products and services, along with marketing and business development assistance to value-added resellers and system integrators throughout North America. The company intends, however, to further develop and market its ChromaID technology. Invention Development Management Company (IDMC) Relationship The company has a strategic relationship with IDMC, a subsidiary of Intellectual Ventures. Intellectual Ventures owns approximately 40,000 IP assets and has global relationships for the invention of technology, the filing of patents and the licensing of intellectual property. IDMC has worked to expand the reach and the potential application of the ChromaID technology and has filed 10 patents base on the ChromaID technology, which it has licensed to the company. In connection with IDMC’s work to expand the company’s intellectual property portfolio, it agreed to curtail outbound marketing activities of the company’s technology through the fourth calendar quarter of 2014. Suppliers Evolis, Fargo, Ultra Electronics - Magicard Division and NiSCA are major vendors of TransTech. Strategy Key aspects of the company’s strategy are to customize and refine its solutions to meet potential customers’ needs; continue to expand applications for ChromaID technology; target potential high-volume markets; pursue strategic acquisitions and alliances; and target additional markets. Research and Development The company spent $362,661 on development activities for the year ended September 30, 2015. Patents The company’s 9 patents, 21 patent applications, and 2 registered trademarks, as well as its trade secrets, copyrights and other intellectual property rights are important assets for the company. The company’s patents would expire at various times between 2027 and 2033. The patents that have been granted to the company comprise: In August 2011, the company was issued US Patent No. 7,996,173 B2 entitled ‘
visualant inc (VSUL:OTC US)
500 Union Street
Seattle, WA 98101
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