In suite of our news post a few weeks ago that DNA Dynamics acquired the “Bitcoin ATM Patent”, the Bitcoin Patent Report can now report that DNA has recently announced that they have closed on the sale of their patent for $700,000 to Bitcoin ATM Patent, LLC, which is an investment group formed to acquire this patent. The sale of the patent was successfully brokered by IPOfferings LLC, a patent brokerage and IP consulting services firm.
According to DNA, the sale of the patent for $700,000 leaves them with $350,000 cash on hand.
DNA CEO, Carl Grant, states that “whilst the patent acquisition was a great opportunity for us as it fit within our wider approach to investing in the crypto-currency space, the cash generated through the sale of the patent gives us cash reserves sufficient to drive our immediate strategy forward without the need for external funding. I know our shareholders have been patiently waiting for information on the Company and I thank them for their patience. I expect to announce more on the next moves of the company in the coming days and how we will be using this capital to aggressively drive our revenues.”
According to Larry Jonas of Bitcoin ATM Patent, LLC, the company will be licensing all Bitcoin ATM manufacturers and Bitcoin ATM owner/operators under the patent.