Monster Arts, Inc. (OTCBQ: MONT), formerly Monster Offers, a leading mobile marketing and app technology innovator with a focus on mobile advertising consulting and a particular strength in "Daily Deals" as a lead source, announced today it has filed a patent application with the United States Patent & Trademark Office describing its unique technology for use of a smart device's front-facing camera. The technology is expected to find immediate application in mobile device functionality and, going forward, markets in mobile software application development.
Company patent filing continues strategic, global move to build a robust intellectual property portfolio, adding to mobile software applications with expansion into mobile device sector
More specifically, the invention provides greater hands-free integration for smart device and tablet users. This technology is branded Camera Wave Action™. The patent application, titled "Hand Wave Over Front-Facing Smart Device Camera to Trigger Software Commands," discloses Monster Arts' proprietary system and technical process for design, coding, and functionality of using a smart device's front-facing camera to control application software and basic functions of smart device operating systems.
According to company CEO Wayne Irving II, potential applications for this proposed patent and the technology might include controlling or inputting information to the smart device for folks that have mental or physical impairments. These could include, without limitation, seniors with physical impairments like rheumatoid arthritis, senility or dementia, partial amputees, Dupuytren sufferers, those suffering from deafness or impaired vision and others. Other applications could include those for children with learning disabilities like ADD, ADHD, Autism, persons suffering from mental retardation or users having hearing impairments where a sign language might be read by the patented process. In addition to the above applications, these methods of controls as covered by the applied-for patent could also be used to control popular utilities and apps already built in circulation, not to mention the potential use of the patent's hands-free process to control video games.
The company believes that its development, establishment and commercialization of this and other smart device-oriented technology patents and related intellectual property and technology will leave it well positioned to capitalize on the continued growth of the mobile communications market, including Smartphone sales. As reported by market researcher Garner Inc., total Smartphone sales for 2011 surged to 472 million units and accounted for 31 percent of all mobile devices sales, up 58 percent from 2010. See "Apple's iPhone No. 1 in Smartphone Sales," Forbes.com, February 15, 2012. Although Gartner has subsequently reported that worldwide sales of mobile phones to end users reached almost 428 million units in the third quarter of 2012, a 3.1 percent decline from the third quarter of 2011, according to Gartner, Smartphone sales still accounted for 39.6 percent of total mobile phone sales, increasing 46.9 percent from the third quarter of 2011. See Gartner November 14, 2012 press release. Another market researcher, International Data Corporation, recently reported that it is expecting 2012 Smartphone sales to reach 686 million, and predicts that they will rise to 982 million in 2015. Further predictions by IMS Research expect Smartphones to reach 1 billion in annual sales in 2016 (half the mobile device market). Consumer demand for smart devices has been such that Morgan Stanley Research estimates sales of Smartphones will exceed those of PCs in 2012, leading to a competitive race for function and features.
Most smart devices (cellular telephones, tablet computers, laptop computers, flat-panel televisions, hand-held gaming machines) now contain a front-facing camera. As video communications through mobile devices have become more popular and practical, Monster Arts has identified a niche for a specific set of methods and information management that it believes could be the next wave in communicating or inputting pertinent data into a device ready to receive and process it. In fact, according to a recent iGR survey commissioned by Syniverse seventy-one percent of consumers say that Smartphones with forward facing cameras are the best devices for video communications,. With social media platforms that encourage picture and video sharing such as Vine, YouTube, Facebook, Twitter, Instagram, etc., front-facing cameras on phones are increasingly becoming integrated into Smart device applications. One prime example of this can be seen with Twitter's popular six second video-sharing app Vine, as the company's first major product update adding support for the iPhone's front-facing camera.
The new process of using the front-facing camera to detect motion and hand postures, comparing them to a preset database or user-defined database of images is a feature that can be utilized across many platforms, enhancing user experience on all devices where the viewer or device user has a camera embedded in the device and facing them. The filed patent application protects the Company's new invention related to this process. The inventors of this application are Monster Arts' CEO Wayne Irving II and Company consultant Ryan Foland.
"We believe our proprietary method-process may be the most easily integrated motion-operated system that can be used leveraging existing hardware within smart devices," said Irving. "With this new patent filing, we not only protect our intellectual property rights, but also extending our company's reach into the expansive application and casual gaming markets, which could be quite lucrative for the company. We intend to compete aggressively in these markets, which should continue to expand in line with the promising growth trends seen more generally in the still promising mobile communications and smart device industries. I would also add that we think M&A activity, including, for example, Hewlett Packard's 2010 acquisition of the Palm patents, as well as the disposition of significant technology litigation, including Apple's over $1 billion judgment and damage award against Samsung for patent infringement, bears witness to the very real market value-enhancing effect of having a critical mass or, should I say `war chest', of patents and patent-related intellectual property. Our company is indeed excited to announce this patent filing."
As traditionally defined, a patent is an amortizable, intangible asset that grants a business the sole right to manufacture and sell an invention. More specifically, it is a legal license granting its holder the exclusive right to make, use or sell a sell that specific invention. With the advent of the Smartphone and the powerful impact of innovations and enhancements to mobile technology, and with corporate revenues generally decreasing as a result of consumer and corporate belt-tightening, more and more companies are seeking to generate revenue from previously untapped areas or asset classes; one such revenue source experiencing such heightened interest is patent monetization, whereby a business licenses or sells its unused or under-utilized patent assets to generate a new revenue stream. One such example of patent monetization is the July 2011 sale by Nortel Networks, a now bankrupt Canadian telecommunications maker, of its 6,000 patent portfolio for $4.5 billion to a group of companies led by Apple. Indeed, one commentator notes that the high price paid for the Nortel portfolio set off a bull market in patents that related to Smartphone technology, and observes that by one estimate, as many as 250,000 patents may touch a modern Smartphone. Almost immediately after the Nortel transaction, Google made its countermove, agreeing to buy Motorola Mobility for $12.5 billion, with about $5.5 billion of the purchase price allocated to Motorola's patents. In addition, it should be noted that the larger value of a patent portfolio, can be as an important, powerful strategic tool to negotiate lower costs from a supplier or vendor, or to alter a competitor's business plan in terms of what markets they are addressing or what products or services they are providing. See "With Smartphone Deals, Patents Become a New Asset Class," by Steve Lohr, DealBook, Fall 2012 edition.
About Monster Arts:
Monster Arts (formerly Monster Offers) is a public company recently created from the merger of Ad Shark, Inc., an innovative leader in mobile marketing advertising consulting, which was managing more than 1000 recurring clients at the time of merger, with Monster Offers, a leading Daily Deal analytics and Daily Deals as a lead source service provider.
In addition to many specialties, the company prides itself on its ability to collect and publish Daily Deals from multiple sites in numerous local communities across the U.S. and Canada, while also developing and implementing mobile advertising strategies constructed around, and based on, a robust media and advertising delivery system. This innovative approach to integrating traditional internet advertising with optimized media and cutting edge ad delivery methods is tailored specifically for the applicable Smart Device, OS or screen resolution platform. In addition to developing the "white-label" appstore technology in Apphysteria, Monster Arts also offers a GPS-driven Daily Deals aggregation app called Monster Offers, where app users can choose from 100 or more Daily Deal providers and tens of thousands of Daily Deals, delivered filtered and in real time according to your GPS location. apps available at: www.monsteroffers.com
Monster Arts also manages the sales and marketing efforts for the Travel America Visitor Guide (TAVG) network of Smartphone apps, websites, and services, serving over 1,000 clients on a recurring billing basis and acting as a resource for those seeking information on what to see, where to stay and where to find the best deals as they travel through the USA. The definitive Information Statement for change in name from "Monster Offers" to "Monster Arts" has been filed with the Securities and Exchange Commission and is being distributed to shareholders. The name change will be effected through FINRA in approximately twenty (20) days. The Company will have a new CUISP number and trading symbol, which will be announced upon the effective date of the corporate action with FINRA.