Company Remains Strong and Undaunted as it Executes Business Strategy
ZEPHYR COVE, Nevada – April 8, 2013 – VirnetX Holding Corporation (NYSE MKT: VHC), an Internet security software and technology company, announced today that on April 5, 2013, it submitted updates to its licensing declaration to European Telecommunications Standards Institute (ETSI) and the Alliance for Telecommunications Industry Solutions (ATIS). VirnetX has identified an additional developing specification in the 3GPP LTE, SAE project to which VirnetX’s patents and patent applications are or may become essential. The following additional specification is now included in the declaration:
3GPP TS 36.300, “Evolved Universal Terrestrial Radio Access (E-UTRA) and Evolved Universal Terrestrial Radio Access Network (E-UTRAN); Overall description; Stage 2” Release 10 or prior.
VirnetX has now identified 18 specifications or developing specifications in the 3GPP LTE, SAE project to which its patents and patent applications are or may become essential.
VirnetX is willing, upon request, to make available a non-exclusive license with respect to necessary claims that have issued in or may issue from VirnetX’s identified patents and patent applications for these 18 specifications identified in its updated declaration, to the extent the specifications are adopted as a final standard, subject to the conditions set forth in the VirnetX’s April 27, 2011 Statement of Patent Holder submitted to ETSI and ATIS.
“We believe that VirnetX invented technologies are essential to securing the rapidly growing 4G/LTE networks,” said Kendall Larsen, VirnetX CEO and President. “VirnetX remains strong and undaunted as we continue to execute on our long-term strategy to become a key provider of technology and intellectual property required for making communications secure over the 4G/LTE networks.”
About VirnetX
VirnetX Holding Corporation is an Internet security software and technology company with patented technology for secure communications including 4G LTE security. The Company’s software and technology solutions, including its secure domain name registry and GABRIEL Connection Technology™, are designed to facilitate secure communications and to create a secure environment for real-time communication applications such as instant messaging, VoIP, smart phones, eReaders and video conferencing. The Company’s patent portfolio includes 20 U.S. and 26 international patents and over 100 pending applications. For more information, please visit www.virnetx.com.
Forward Looking Statements
Statements in this press release that are not statements of historical or current fact, including statements regarding the strength of Virnetx’s intellectual property, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on expectations, estimates and projections about the markets in which the Company operates, management’s beliefs, and certain assumptions made by management and involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements, including but not limited to (1) the outcome of any legal proceedings that have been or may be initiated by the Company or that may be initiated against the Company; (2) the ability to capitalize on the Company’s patent portfolio and generate licensing fees and revenues; (3) the ability of the Company to be successful in entering into licensing relationships with its targeted customers on commercially acceptable terms; (4) potential challenges to the validity of the Company’s patents underlying its licensing opportunities; (5) the ability of the Company to achieve widespread customer adoption of the Company’s GABRIEL Communication Technology™ and its secure domain name registry; (6) the level of adoption of the 3GPP Series 33 security specifications; (7) whether or not the Company’s patents or patent applications may be determined to be or become essential to any standards or specifications in the 3GPP LTE, SAE project or otherwise; (8) the extent to which specifications relating to any of the Company’s patents or patent applications may be adopted as a final standard, if at all; and (9) the possibility that Company may be adversely affected by other economic, business, and/or competitive factors. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” or “plans” to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company’s reports and registration statements filed with the Securities and Exchange Commission, including those under the heading “Risk Factors” in Company’s Annual Report on Form 10-K filed with the SEC on March 1, 2013. Many of the factors that will determine the outcome of the subject matter of this press release are beyond the Company’s ability to control or predict. Except as required by law, the Company is under no duty to update any of the forward-looking statements after the date of this press release to conform to actual results.
Contact:
Greg Wood
VirnetX Holding Corporation
775.548.1785
greg_wood@virnetx.com
VirnetX and GABRIEL Connection Technology are trademarks of VirnetX Holding Corporation. Other company and product names may be trademarks of their respective owners.