PMX acquires Gold ATM patents
PMX Gold, LLC ("PMX Gold"), a wholly-owned subsidiary of PMX Communities, Inc. (OTCBB: PMXO.OB), announced that they have acquired full ownership of the Gold ATM patent and intellectual property portfolio from their technology development partner.
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"By completing the acquisition of both the two earlier U.S. Provisional Patent Applications and the third patent filing (International Business Method Patent Application Number PCT/US2012/020486 'Unattended Precious Metal Distribution System, Methods and Apparatus') we have closed the loop that allows for any value derived from the intellectual property of this project to flow directly to PMXO," said Mike Hiler, Chairman and CEO.
"At this point we have initiated a multi-faceted manufacturing and marketing plan so that the company may realize sales and deployment of the Gold ATM Terminals in select targeted markets as quickly as possible," continued Hiler. "While we intend to maintain company owned locations as part of our network, we will offer qualified partners their own branded dispensing units and unique bullion product portfolio specific to certain markets. The company has opened a new Product Development and Marketing Office in Boca Raton, FL to coordinate prototype completion and territory sales."
In a related announcement PMXO confirmed that the company is reviewing the possible acquisition of select Gold Mining properties through their wholly owned subsidiary PMX Mineral Options & Mining Development, Inc.
About PMXO and PMX Gold ATM Network: State of the Art Gold Transactions
PMX Communities, Inc. (PMXO), through its wholly owned subsidiary, PMX Gold is currently developing the world's first PCI compliant PMX Gold ATM Terminal designed to integrate seamlessly with the International Banking System and dispense gold bullion products on demand. PMXO is currently evaluating production and marketing models, financing options and pricing parameters for manufacture and delivery of the first PMX Gold ATM Terminal prototype and potential quantities of 20-30 units for Phase I Launch (after prototype debugging), 200-300 units within 4-6 months of Phase I launch and 1200+ units thereafter.