BAY CITY, Mich. and TORONTO, Sept. 2, 2003 (PRIMEZONE) -- Ugomedia Interactive Corp. (name change to Sciax Corporation pending) (OTCBB:UGMI) is pleased to announce that the U.S. Patent and Trademark office has granted a Notice of Allowance of a patent application to Sciax Technology Inc. for an important new limb positioning device designed for orthopedic surgical applications. The BASE1 device allows surgeons to more accurately position patient limbs during surgical procedures and is particularly valuable in shoulder operations, a growing segment of this surgical market.
"Although BASE1 is a product development outside our core markets, it is another illustration of the innovative minds at work in Sciax," stated Ken Smart, President and founder of Sciax. "We will continue to focus on defense and industrial markets, but will ensure that we cultivate open minded attitudes toward technology applications outside our core businesses."
In December 2001, BASE1 was the subject of an Asset Purchase Agreement with Linvatec Corporation and following U.S. Patent issue Sciax will assign intellectual property rights to Linvatec. Sciax received $343,000 when the Linvatec agreement was signed, and expects to realize up to $3,000,000 in royalty payments during the five years following product launch. Linvatec, based in Largo Florida, is a world leader in technology for a growing range of least-invasive and orthopedic surgical products.
Nitin Amersey, CEO and Chairman of Sciax stated that, "The innovative character of Sciax combined with a growing range of high quality products and an exceptional sales force ensures that our company has a very bright future indeed."
About Sciax
Sciax is an emerging leader in defense imaging systems for law enforcement and military personnel engaged in counter-terrorism and other special security operations. Sciax America Inc. and Sciax Technology Inc. are wholly owned subsidiaries of Ugomedia Interactive Corporation (OTCBB:UGMI). A name change from Ugomedia Interactive Corp. to Sciax Corporation is pending.
Sciax is the manufacturer of SeCam, part of the Tactical Remote Viewing System (TRVS(TM)) used by law enforcement and military organizations in North America and Europe. Customers include, military and law enforcement agencies of the U.S. and German Governments, contraband interdiction units of Canada Customs, and LAPD-SWAT.
This release contains forward-looking statements with respect to the results of operations and business of Sciax Technology Inc., Sciax America Inc. and Ugomedia Interactive Corp. which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. Risks and uncertainties of the Company will be detailed from time to time in the Company's periodic reports. The company intends that such statements about the Company's future expectations, including future revenues and enforcement and defense imaging system earnings, and all other forward looking statements be subject to the "safe harbors" provision of the Private Securities Litigation Reform Act of 1995.