Share of XR Immersive Tech Inc (OTCQB:FNTTF) (CSE:VRAR) gained momentum on Thursday. Here is the key development.
Market Action
On Thursday, FNTTF stock ended higher by 15.55% to $0.1746 with 4.77K shares, compared to its average volume of 19.9K shares. The stock has moved within a range of $0.1746 – 0.2214 after opening trade at $0.2214.
XR Immersive Tech Files Two Full Patent Applications for its Hyper-Immersive Standalone VR Technology
XR Immersive Tech Inc(OTCQB: FNTTF) on February 3, 2022, announced on January 19, 2022 filing of two patent applications for the patent-pending technology with the Canadian Intellectual Property Office. The applications will add to the firm’s growing patents as the firm had earlier-filed U.S. provisional patent applications.
XR Immersive Tech had elected to filed Canadian patent applications for protecting precious intellectual property as it carries on innovating the development of cutting-edge AR/VR technology. This will support sales growth for clients aiming at providing hyper-immersive experiences.
The first patent application “System and Method for Plug and Play VR” covers UNCONTAINED VR gaming package while the second application is titled “System and Method for Immersive Effects”.
Tim Bieber, CEO of the firm said that the patent applications are a huge milestone indicating the potential of the firm’s technology on delivering cutting-edge VR for creating a unique hyper-immersive experience for users.
Protecting IP is vital as the firm believes in the patent-pending UNCONTAINED platform as well as technology has unparalleled opportunities. XR Immersive is working on maximizing the commercial opportunities for shareholder value.
The team behind Immersive Tech comprises of the CEO, Director of Franchise Development, Steven Dooner, Kevin Williams, Dan Burgar, Lance Priebe as well as Director Alvin Wang Graylin.
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