Card Activation Technologies Files Suit Against up to 45 Major Retail Companies and Infringers for Violation of Patent

CHICAGO--(BUSINESS WIRE)--Card Activation Technologies (OTCBB: CDVT - News), owners of a patented point-of-sale technology for the activation and processing of transactions related to debit-styled cards, which include gift cards, phone cards and other stored value cards, today announces that up to 45 retailers and infringers will be sued immediately. Mr. Robert H. Kite, President of Card Activation, stated “With the addition of Stinson Morrison Hecker LLP, teaming up with Orum & Roth, our legal team now has the size and strength to dramatically expand its ability to defend our patent and negotiate restitution from those retailers violating our company's patent."About Card Activation Technologies Inc.Card Activation Technologies, Inc. is a Chicago-based company that owns proprietary patented payment transaction technology used for processing gift cards, phone cards and other debit purchase transactions. The company is actively seeking to license its technology to the thousands of current users and believes that many retailers, gas stations, phone companies and others that utilize stored value cards, such as gift and debit cards, infringe its patent. The company is aggressively pursuing litigation against these infringements. The Federal Reserve Bank of Philadelphia estimated the prepaid card market to be valued in excess of $181.7 billion in transactions in 2006. According to market fo...
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Card Activation Technologies, Inc. Retains Additional Large Law Firm to Protect Its Patent Rights

CHICAGO--(BUSINESS WIRE)--Card Activation Technologies (OTCBB: CDVT - News), owners of a patented point-of-sale technology for the activation and processing of transactions related to debit-styled cards, which include gift cards, phone cards and other stored value cards, today announces that it has retained the law firm Stinson Morrison Hecker LLP to assist Orum & Roth LLP with the prosecution of the company's patent infringement lawsuits. Stinson Morrison Hecker is one of the nation's largest law firms, with more than 330 attorneys in eight offices. Card Activation believes that the hiring of Stinson Morrison Hecker will further help the company protect its patent rights and aggressively pursue litigation against infringers.Card Activation Technologies, Inc. v. McDonalds et al., Case No. 06 C 5578, pending in the United States District Court for the Northern District of Illinois, Eastern Division. Commenting on this report and recommendation, Mark Roth of Orum & Roth, LLC, one of Card Activation's litigation attorneys, stated, “We view the judge’s decision as being extremely favorable to Card Activation, and its pursuit of infringers of Card Activation’s patent. The ruling will, in our opinion, help solidify our position on all parties’ infringement of the patent involved in Card Activation’s various lawsuits. As a compliment to the strength and posit...
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CARD ACTIVATION TECHNOLOGIES INC Financials

PERIOD ENDING30-Jun-0931-Mar-0931-Dec-0830-Sep-08Total Revenue108  173  375   -  Cost of Revenue -   -   -   -  Gross Profit108  173  375   -  Operating ExpensesResearch Development -   -   -   -  Selling General and Administrative70  181  487  28  Non Recurring -   -   -   -  Others -   -   -   -  Total Operating Expenses -   -   -   -  Operating Income or Loss38  (8)(112)(28)Income from Continuing OperationsTotal Other Income/Expenses Net14  13  9  8  Earnings Before Interest And Taxes52  5  (103)(21)Interest Expense -   -   -   -  Income Before Tax52  5  (103)(21)Income Tax Expense -   -   -   -  Minority Interest -   -   -   -  Net Income From Continuing Ops52  5  (103)(21)Non-recurring EventsDiscontinued Operations -   -   -   -  Extraordinary Items -   -   -   -  Effect Of Accounting Changes...
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Card Activation Technologies, Inc. Receives Ruling on Claims Construction Issues

CHICAGO--(BUSINESS WIRE)--Card Activation Technologies (OTCBB: CDVT - NewsCard Activation Technologies, Inc. v. McDonalds et al., Case No. 06 C 5578 pending in the United States District Court for the Northern District of Illinois, Eastern Division. Mark Roth of Orum & Roth, LLC, one of Card Activation's litigation attorneys, stated, "We view the judge’s decision as being extremely favorable to Card Activation, and its pursuit of infringers of Card Activation’s patent. The ruling will, in our opinion, help solidify our position on all parties’ infringement of the patent involved in Card Activation’s various lawsuits." About Card Activation TechnologiesCard Activation Technologies, Inc. is a Chicago-based company that owns proprietary patented payment transaction technology used for processing gift cards, phone cards and other debit purchase transactions. The company is actively seeking to license its technology to the thousands of current users and believes that many retailers, gas stations, phone companies and others that utilize those stored value cards, such as gift and debit cards, infringe its patent. As a result, the company is aggressively pursuing litigation against these infringements. The Federal Reserve Bank of Philadelphia estimated the prepaid card market to be valued in excess of $181.7 billion in transactions in 2006. According to market forecasts, t...
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CARD ACTIVATION TECHNOLOGIES INC Files SEC form 8-K, Other Events

Item 8.01 Other Events. The involuntary bankruptcy petition against Card Activation Technologies, Inc.'s ("Card" or the "Company") largest stockholder, MedCom USA, Inc. ("MedCom"), was dismissed on July 28, 2009. As previously reported on Form 8-K dated June 12, 2009, Card has entered into a settlement agreement with Michael De La Garza. The settlement agreement became final and effective on August 11, 2009, when the deadline for objecting to the bankruptcy court's order dismissing the involuntary bankruptcy petition against MedCom USA, Inc. had passed, making the bankruptcy court's order final. Mr. De La Garza has affirmed in writing that he holds no position with Card, whether as an officer, a director or otherwise, and he has resigned from any such position(s) to the extent he could be said to hold any such position(s). Likewise, both William P. Williams and Michael Malet have affirmed in writing that they hold no positions with Card, whether as an officer, director or otherwise, and further resigned from any such position to the extent they could be said to hold any such position. In addition, on August 25, 2009, a court order was issued, pursuant to a stipulation of the parties, dismissing Card and MedCom USA, Inc.'s litigation in federal court against Mr. Williams and Mr. Malet without prejudice. Card and MedCom still intend to pursue any remedies they have against Mr. Williams, Mr. Malet, and other entities connected with Mr. Williams, but will attempt to do so outside of court to mitigate expenses. In the event a resolution cannot be reached that is satisfactory to all parties, the litigation will be reinstated. All parties involved have entered into tolling agreements to protect Card's and MedCom USA, Inc.'s claims from the defense of the statute of limitations and other time-based defenses. Certain statements in this Form 8-K that are not historical facts are "forward-looking statements" within the meaning of the Privat...
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CARD ACTIVATION TECHNOLOGIES INC Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS With the exception of historical facts, the matters discussed in this quarterly report on Form 10-Q are forward looking statements. Forward-looking statements may relate to, among other things, future actions, future performance generally, business development activities, future capital expenditures, strategies, the outcome of contingencies such as legal proceedings, future financial results, financing sources and availability and the effects of regulation and competition. When we use the words "believe," "intend," "expect," "may," "will," "should," "anticipate," "could," "estimate," "plan," "predict," "project," or their negatives, or other similar expressions, the statements which include those words are usually forward-looking statements. When we describe strategy that involves risks or uncertainties, we are making forward-looking statements. These forward-looking statements are based on the current plans and expectations of our management and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated. These factors include, but are not limited to: the success of our Markman hearing, our failure to satisfy our working capital needs from operations and the availability of and costs associated with potential sources of financing. You should also read, among other things, the risks and uncertainties described in the section entitled Risk Factors in item 1A of our annual report on Form 10-K, filed with the SEC. We warn you that forward-looking statements are only predictions. Actual events or results may differ as a result of risks that we face. Forward-looking statements speak only as of the date they were made, and we undertake no obligation to update them. The followin...
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CARD ACTIVATION TECHNOLOGIES INC Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS With the exception of historical facts, the matters discussed in this quarterly report on Form 10-Q are forward looking statements. Forward-looking statements may relate to, among other things, future actions, future performance generally, business development activities, future capital expenditures, strategies, the outcome of contingencies such as legal proceedings, future financial results, financing sources and availability and the effects of regulation and competition. When we use the words "believe," "intend," "expect," "may," "will," "should," "anticipate," "could," "estimate," "plan," "predict," "project," or their negatives, or other similar expressions, the statements which include those words are usually forward-looking statements. When we describe strategy that involves risks or uncertainties, we are making forward-looking statements. These forward-looking statements are based on the current plans and expectations of our management and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated. These factors include, but are not limited to: the success of our Markman hearing, our failure to satisfy our working capital needs from operations and the availability of and costs associated with potential sources of financing. You should also read, among other things, the risks and uncertainties described in the section entitled Risk Factors in item 1A of our annual report on Form 10-K, filed with the SEC. We warn you that forward-looking statements are only predictions. Actual events or results may differ as a result of risks that we face. Forward-looking statements speak only as of the date they were made, and we undertake no obligation to update them. The followin...
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CARD ACTIVATION TECHNOLOGIES INC Financials

Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback Quotes delayed, except where indicated otherwise.Delay times are 15 mins for NASDAQ, 20 mins for NYSE and Amex. See also delay times for other exchanges.Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. Real-...
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CARD ACTIVATION TECHNOLOGIES INC Financials

Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback Quotes delayed, except where indicated otherwise.Delay times are 15 mins for NASDAQ, 20 mins for NYSE and Amex. See also delay times for other exchanges.Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. Real-...
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CARD ACTIVATION TECHNOLOGIES INC Files SEC form 10-Q/A, Quarterly Report

ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Management's Discussion and Analysis contains various "forward looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, regarding future events or the future financial performance of the Company that involve risks and uncertainties. Certain statements included in this Form 10-Q, including, without limitation, statements related to anticipated cash flow sources and uses, and words including but not limited to "anticipates", "believes", "plans", "expects", "future" and similar statements or expressions, identify forward looking statements. Any forward-looking statements herein are subject to certain risks and uncertainties in the Company's business, including but not limited to, reliance on key customers and competition in its markets, market demand, product performance, technological developments, maintenance of relationships with key suppliers, difficulties of hiring or retaining key personnel and any changes in current accounting rules, all of which may be beyond the control of the Company. The Company adopted at management's discretion, the most conservative recognition of revenue based on the most astringent guidelines of the SEC in terms of recognition of software licenses and recurring revenue. Management will elect additional changes to revenue recognition to comply with the most conservative SEC recognition on a forward going accrual basis as the model is replicated with other similar markets (i.e. SBDC). The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including those set forth therein. Table of Contents Forward-looking statements involve risks, uncertainties and other factors, which may cause our actual results, performance or achievements to be mater...
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