UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: November 19, 2014
VISUALANT, INCORPORATED
(Exact name of Registrant as specified in its charter)
Nevada | 0-25541 | 90-0273142 |
(State or jurisdiction of incorporation) | (Commission File No.) | (IRS Employer Identification No.) |
500 Union Street, Suite 420
Seattle, Washington 98101
(206) 903-1351
(Address of Registrant’s principal executive office and telephone number)
Item 8.01 Other Events.
Issuance of Seventh Patent on its ChromaID™ technology for Invisible Bar Codes
On November 21, 2014, Visualant, Inc. (the “Company”), a provider of disruptive light-based technologies, announced that it received its seventh patent on its ChromaID™ technology.
Visualant’s latest patent provides for invisible bar codes or adds a new element to the encoding process by leveraging the Visualant ChromaID scanner’s ability to recognize differences in molecular and atomic structures allowing new data to be added using conventional printing processes without changing the visual appearance of today’s codes.
The patent issued by the United States Office of Patents and Trademarks is US Patent No. 8,888,207 and is entitled “Systems, Methods, and Articles Related to Machine-Readable Indicia and Symbols.”
Amendment to Services and License Agreement with Invention Development Management Company, LLC
On November 19, 2014, the Company entered into an Amendment to Services and License Agreement with Invention Development Management Company, LLC. This Amendment exclusively licenses ten filed patents to Visualant, Inc.
On November 11, 2013, the Company entered into a Services and License Agreement with Invention Development Management Company, L.L.C. (“IDMC”), a Delaware limited liability company. IDMC is affiliated with Intellectual Ventures, which collaborates with inventors, partners with pioneering companies and invests both expertise and capital in the process of invention.
The Agreement required IDMC to identify and engage investors to develop new applications of the Company’s ChromaID™ development kits, present the developments to the Company for approval, and file patent applications to protect the developments. IDMC was responsible for the development and patent costs.
The Company received a worldwide, nontransferable, exclusive license to the licensed IP developed under this Agreement, during the term of the Agreement, and solely within the identification, authentication and diagnostics field of use, to (a) make, have made, use, import, sell and offer for sale products and services; (b) make improvements; and (c) grant sublicenses of any and all of the foregoing rights (including the right to grant further sublicenses).
The Company received a nonexclusive and nontransferrable option to acquire a worldwide, nontransferrable, nonexclusive license to the useful IP held by IDMC within the identification, authentication and diagnostics field of use to (a) make, have made, use, import, sell and offer to sell products and services and (b) grant sublicenses to any and all of the foregoing rights. The option to acquire this license may be exercised for up to two years from the effective date of the Agreement.
IDMC is providing global business development services to the Company, including present Visualant IP and any licensed IP, if applicable, to potential customers, licensees, and distributors in markets or geographies not being pursued by Visualant. Also, IDMC may introduce Visualant to a potential customer, licensee, or distributor for the purpose of identifying and closing a license, sale, or distribution deal or other monetization event.
The foregoing description of Amendment to Services and License Agreement is qualified in its entirety by reference to the Amendment to Services and License Agreement, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.1, incorporated by reference into this 8.01.
- 2 -
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits –
Exhibit No. |
| Description |
|
|
|
| Amendment to Services and License Agreement dated November 18, 2014 by and between Visualant, Inc. and Invention Development Management Company, LLC | |
|
|
|
| Press Release of Visualant, Inc. dated November 21, 2014 related to the seventh patent award for the ChromaID™ technology. | |
|
|
|
| Press Release of Visualant, Inc. dated November 25, 2014 related to the assignment of ten filed patents for the ChromaID™ technology. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Registrant: VISUALANT, INCORPORATED | |
|
|
|
| By: | /s/ Ronald P. Erickson |
|
| Ronald P. Erickson CEO |
November 25, 2014
- 3 -
Exhibit 10.1
Amendment to Services and License Agreement
This Amendment (“Amendment”) is entered into as of November 18, 20 14 (“Effective Date”), between Invention Development Management Company, LLC (“IDMC”) and Visualant, Inc. (“Visualant”). The parties hereby agree as follows:
1. Background
1.1 IDMC and Visualant are parties to that certain Services and License Agreement (Agreement No.
L-30240), dated November 11, 2013 (the “Agreement’).
1.2 IDMC and Visualant desire to amend the Agreement as set forth in this Amendment, as of Effective Date.
2. Terms Used in This Amendment
Unless defined in this Amendment, capitalized terms used in this Amendment have the same meanings as in the Agreement.
3. Amendments to Agreement
Section 3.1 of the Agreement is hereby amended and restated as follows:
“1.26. “Licensed IP” means the Patent Applications, IDMC Technology, and Patents which cover the Inventions listed in Exhibit C.”
The Agreement is hereby amended and restated to include Exhibit C which is attached in the following page of this Amendment.
4. No Other Changes
This Amendment amends the Agreement and all prior amendments with respect to the subject matter of this Amendment, and supersedes all prior and contemporaneous negotiations and other writings with respect to such matters. In the event that a conflict arises between this Amendment and the Agreement or a prior amendment, this Amendment controls. Except for the changes made herein, the terms and conditions of the Agreement and its Exhibits shall remain unchanged and in full force and effect.
Invention Development Management Company, LLC | Visualant, Inc. |
|
|
Signature: /s/ Chris Alliegro | Signature: /s/ Ronald P. Erickson |
|
|
|
|
Name: Chris Alliegro | Name: Ronald P. Erickson |
|
|
|
|
Title: Executive Vice President | Title (If Applicable): CEO |
|
|
|
|
Address: 1209 Orange Street | Address: 500 Union Street, Suite 420 |
Wilmington, Delaware 19801 | Seattle, WA 98101 |
|
|
|
|
Email Address: Notice-US@intven.com | Email Address: ron@visualant.net |
- 1 -
EXHIBIT C
List of Inventions
Reference No. | Solution Report Title | Date of License | |||||
US-882663 | Microscope With ChromalD | 11/18/2014 | |||||
US-893653 | Three-Dimensional Imaging for Analysis of Nonplanar Surfaces Using the ChromalD Spectrophotometric Scanner | 11/ 18/2014 | |||||
IL-891618 | Reducing the cost and size of the Visualant sensor by integrated packaging | 11/ 18/2014 | |||||
IL-891619 | Concurrent analysis of multiple illumination sources in Visualant system | 11/18/2014 | |||||
US-895746 | The Chroma ID Technology for the Quality Control of Dairy Products | 11/18/2014 | |||||
US-893669 | Optical Fingerprint in Gemstones | 11/18/2014 | |||||
US-895791 | Quality Control of Chromatic Profiles | Fruits, | Juices, | and | Wine | Using | 11/18/2014 |
US-897203 | Meat Quality Assessment Using ChromalD | 11/18/2014 | |||||
CN-893659 | A Novel Medical Application for Visualant’s Chroma ID technology | 11/18/2014 | |||||
IL-891621 | Measuring refractive index over a wide frequency range | 11/18/2014 |
- 2 -
Exhibit 99.1
Visualant’s New Patent Creates Opportunity for “Invisible Bar Codes”
Large Market for Secure and Dense Automatic Identification and Data Capture
Seattle, WA. – (November 21, 2012) Visualant, Inc. (OTCBB: VSUL) – an industry-leading provider of chromatic-based identification and diagnostic solutions, announced today that it received its seventh patent on its ChromaID™ technology. Encoding information in machine-readable symbols like barcodes and other 2D codes are used throughout industry to track material movements, machine operations, health records, and other important assets throughout the world’s manufacturing and service industries. These industries have an ever increasing need for encoding additional data into these codes. Visualant’s technology can meet these industry needs.
Visualant’s latest patent adds a new element to the encoding process by leveraging the Visualant ChromaID scanner’s ability to recognize differences in molecular and atomic structures allowing new data to be added using conventional printing processes without changing the visual appearance of today’s codes.
Visualant’s ChromaID technology was invented when Dr. Thomas Furness, a professor at the University of Washington and pioneer in the field of virtual reality, recognized that every material exhibited a unique light signature when stimulated by visible and invisible structured coherent light sources. Adding additional materials in specific patterns can be detected using the ChromaID technology adding a new dimension of data density, very similar to the way microdots can hide large amounts of information in “plain sight”. This allows the symbols to be easily incorporated into almost any document or on any good (e.g.¸ fabric of high value clothing, handbags, shoes.) In other words, the counterfeiter cannot counterfeit or modify what he cannot see!
The patent issued by the United States Office of Patents and Trademarks is US Patent No. 8,888,207 and is entitled “Systems, Methods, and Articles Related to Machine-Readable Indicia and Symbols.”
Ron Erickson, Visualant Founder and CEO, stated, “We believe the “invisible bar code” application of the Visualant ChromaID technology covered by this patent has significant potential in the marketplace. The automatic identification and data capture industry requires ever greater information density and security. Visualant’s ChromaID technology provides both at a low cost and in very flexible form factor.”
About Visualant, Inc.
Visualant™ is a public company whose shares trade under the stock symbol “VSUL.” The Visualant Spectral Pattern Matching™ (SPM) technology directs structured light onto a substance or material, through a liquid or gas, or off a surface, to capture a unique ChromaID™. A ChromaID can be used to identify, detect, or diagnosis markers invisible to the human eye. ChromaID scanner modules can be integrated into a variety of mobile or fixed-mount form factors. The patented, award-winning technology is disruptive, making it possible to effectively conduct analyses in the field that could only previously be performed by large and expensive lab-based tests. For more information on Visualant, visit the company’s new website at www.visualant.net.
Visualant Press Contacts:
Hal Bringman
Email hal@nvpr.com
Desk +1 (206) 299-0622 ext 801
Mobile +1 (310) 210-8011, Skype halbringman
Exhibit 99.2
Intellectual Ventures Exclusively Licenses Filed Patents to Visualant
Intellectual Property Developed by Inventor Network
Seattle, WA – (November 25, 2014) – Visualant, Inc. (OTCQB: VSUL), a leading provider of disruptive light-based technologies, announced today that Intellectual Ventures (IV) has exclusively licensed to Visualant filed patent applications developed by their inventor network. The patents in question cover a number of unique applications and enhancements of the Visualant ChromaID™ technology.
Visualant and IV entered into a strategic relationship late last year. Pursuant to that agreement Visualant provided twenty ChromaID development kits to Intellectual Ventures for distribution to twenty inventors and inventor groups in the IV global inventor network. Those inventors returned a significant number of invention disclosures from which IV will file a number of patents based upon the Visualant ChromaID technology. Pursuant to the agreement between the parties, IV filed a number of patents which they have exclusively licensed to Visualant in exchange for a royalty payment resulting from commercialization of the technology. Additionally, IV will pursue commercialization opportunities for the Visualant technology through their own business development process.
ChromaID is a breakthrough, light-based identification and measurement technology, with the potential to disrupt traditional spectral analysis and other costly methods of identification, authentication and diagnosis. The ChromaID development kits allow companies to work with the Visualant technology and explore unique applications of the technology to solve particular problems in their industry segment.
Ron Erickson, Visualant Founder and CEO said, “We have had a first class experience working with Intellectual Ventures and their global inventor network. We provided our foundational technology to them and they in turn created a broad array of exciting applications and extensions to our technology. IV has filed patents that grew out of that process and has now assigned those filed patents to Visualant. Now, we will go out into the market to exploit and license that intellectual property.”
Eric Bell, Senior Director, Investment Strategy at the Invention Development Fund of Intellectual Ventures, said, “Our inventor network developed creative extensions of the Visualant technology around which we have filed a number of patents. These are now exclusively licensed, worldwide to Visualant. We will continue to work with Visualant to assist them in exploiting their ChromaID technology and finding marketplace commercialization opportunities for their technology.”
About Intellectual Ventures
Founded in 2000, Intellectual Ventures (IV) is the global leader in the business of invention. IV collaborates with leading inventors, partners with pioneering companies and invests both expertise and capital in the process of invention. IV’s mission is to energize and streamline an invention economy that will drive innovation around the world. For more information on IV, go to www.intellectualventures.com
About IVIN
The Intellectual Ventures Invention Network (IVIN) is a collaborative community of scientific and technical experts, inventors and entrepreneurs who work together to create, improve and evaluate inventions. IVIN membership provides access to financial incentives and the global resources of Intellectual Ventures, an invention capital company with one of the largest and fastest-growing intellectual property portfolios in the world. Members can submit their inventions to IV for patenting and monetization or get paid for reviewing new inventions, analyzing existing patents or inviting other inventors to join IVIN. By supporting good ideas and the people who develop them, IVIN encourages a continual supply of useful and valuable inventions.
About Visualant, Inc.
Visualant™ is a public company whose shares trade under the stock symbol “VSUL.” The Visualant Spectral Pattern Matching™ (SPM) technology directs structured light onto a substance or material, through a liquid or gas, or off a surface, to capture a unique ChromaID™. A ChromaID can be used to identify, detect, or diagnosis markers invisible to the human eye. ChromaID scanner modules can be integrated into a variety of mobile or fixed-mount form factors. The patented, award-winning technology is disruptive, making it possible to effectively conduct analyses in the field that could only previously be performed by large and expensive lab-based tests. For more information on Visualant, visit the company’s new website at www.visualant.net.
Contact:
Intellectual Ventures Contact:
Nick Gibson
gibson@intven.com
or
Visualant Press Contacts:
Hal Bringman
Email hal@nvpr.com
Desk +1 (206) 299-0622 ext 801
Mobile +1 (310) 210-8011,
Skype halbringman
"HU6G)MU-1\MZ3D_TP^&OQ#\)?%WX<^`?BOX!U1=<\"_$W MP7X6^(/@O6EAFMEU?PIXRT.Q\1>'M3%M'S?*FC21 M64>=_P##2GPF'[3X_8]_MG4O^%ZGX"M^TH/#W]@ZO_9'_"IE^(2_"\ZS_P`) M1]D_L'^TO^$P86/]@_;O[7^R_P#$Q^R?8OWU?G]_P2ZUBX^"7BW]KO\`X)O^ M(I&@N/V//C%>>+?@+%<"X4:K^Q]^T?>:M\4O@U;Z;?:A(MSXBD^&.L7_`(S^ M%6OW6G6ZZ3X>'AWPWH4?V<&UMQS+?\K$,?\`VA>F_P#6XH*MY!AH9EQ#A)5* MT\-@.'\RSW*J\91B\3AU1R?&Y16J^[*,H5<%FT5B(0Y?]HH5X1G#V33E9U7E M@,BQ"A2CB,;G6`R?,:33DJ%=SS3"YE3I^\G&5/%Y8W0E*_[BM2DXRYTU^T-> M0_'3X\?"K]FSX 2RT[4?B'XW\/?# M[PX]V+:.::*Q;Q'XGTI=2OO+-OI6FF\U:_>'3[&ZGB]>K\/_`-O_`.&>D_\` M!1?]K_X7_P#!./5[N7_A1WPJ^"/Q(_:F_:EN["*2X:/Q3\0/#'C'X!_LI^$+ M?4["[5=-\6:-XA\2?$/XZP^'M=C2TO[;X=^$]8,;!=.>7R\AR_#9CF-.GCZU M7#97AJ5?'YMB:,8RK4,NPD%/$2H1DG"6(J3JX;#X6$M*F(KTX:KFMZ.=8W$8 M'`5)X*E3KYC7J4L'EM"JVJ5;'8F3C159J47&A3C3K5L1--.%"E.5]D_W`KR/ MX>_'7X5_%+QK\9/AQX)\6V&K>//@!XPT?P/\7/"1\RUU[P?K7B/PCHOCKPS- M>Z?=)%/<:%XE\,:]9WV@>([);G0]4NK37M&M;]];\,>(].TKX\_X)5?'WQK\ MUGQ_\``^^C6&\30OB3 MI][I,7C#X(^-;2RN_P"S/&D5QH>NZ+X@TW7[1M#]?`\,4ZN-XDRS,,=3P6*R M>C".#Q4G'^S\1C*N:X3!818BM*WL*/ MB=XQT;P'X0M#I^C6MW>+;WOB37M-M;F]:$6MA!*]W=R16\4CCP#]H3_@H=\! M?V9OB.OPM^(GAK]HO5_$[:!I'B-9_A=^S#\=_BYX::PUNXU"VLH%\5_#KP)X MB\/MJ@ETVX^U:2-0.H6:O;/ \;>$=52? M2?$&DFYNK9;F%;W2K_5=$O=,U:^_>ZN6IEN$RG"8'$9ME^-JXFICL^P&-P+Q M E*$XP49UNFGC\1F6)Q5++<9A88 M>RC&X7%K#K&0K4L?#&SJ-+ZQ0C*,XT*3IRYHNFU-2AS "[^^OM?_X1@RGQC;?# MB7PW!IVGZVL]CK.I2ZDMEH\ME?KJ,UN;*Z$7ZR5^+W_!O3_RA_\`V1O]_P#: M!_\`6H_C97[0U/%>$RS+<\S/*LLPV*H4LJS+, 'PGU6&'>*PM. MO4I)O$8B55*52T9RY))1U3;=N8\;>#/"WQ'\&>+OAYXXT6S\2^"O'GAC7_!G MC#P[J*N^GZ_X6\4:5=Z'X@T6_2-XY&L]5TF^N[&Z6.2-V@G<(Z,0P_!S_@C_ M`/L@?'CX:_&'XQ>,/VH6U?5-3_8Q\&V__!-/]D_6M:M[[3I?$O[/'@7Q=J'Q M>7XLQZ7/YND3KX_\(^,/@GX2T76M&D6:QTKX9:CX9OW>:UN(H?Z"J*YSQ*J1YJ$<0M')8+%.6-PV_)B)SDDN9N7X^_\`!7WP MMXH\40?\$Q1X8\,^(O$I\._\%@OV'_%/B$>'M#U37/[`\+Z/J'C\ZOXFUS^R M[2Z_LCP[I(G@.IZYJ'V;2]/$\)O+N$2Q[O6OVC_VX/BE^R/^T'%:?&/]FOXB M>*/V*O%'@'1;G0/VE?@)X1\9?&;Q!\,?BA8ZGJR>+M%^/?PU\'Z3J7BGP[X% MU72I_#Y\(>+_``SHNM6]OJT)T^[;6[CQ)=V_P^_2BBMJ.=8?ZIE>`QV54O1C+ZKBL%4PL84)2I8NA5A5JQQ&'E&?N95< MIK_6LQQN#S&K@\3CZ^55[QP]"O2BLKP-?`_5Z]*JU]8PV+IUW*M&-3#UJ WNHZ'' MH/AZ^GO8K@Z9J-]X8?Q/J6OQ%U[_`()A?MS?MG^,/C?\*?B[XB_9"_;4\6^` M?CKX!_:#^#_PR\:?&;3/A3\2-"\!Z9X%^)OP\^-WA[X=:-K_`(T\+)J^H:9I M6M^`-8M/#&H:)?Z7=+8P:CJ&J0^([;PO^]-%=T^**4Y?59Y4I9+_`&+0R'^S MY9AB)8SZKALQJYM0Q7]K.A[3Z]1S&M5K4F\$\%3P]267PPD<)9QY(\/5(+ZS M',7'-?[6JYS] "QT\1+%73 M_"#0/''BC_@I+_P44_8]^.GPB^$7Q?\`!/[(W["ND?'KQKJ/QU^,_P`.?%'P MBMOCU\3?C;\/4^%OAGP;\'?!GC[2_#_CW4M`\(6+ZGXE\0^-+S0K;2);JTOO M#=_;:/>1^'+CQ7Q>@_#_`/;S_:<_X*!?M3?MG_L]>)_@Q\'?"WP=^W?L"?!> M/]I_X(?%CQ;<>)?!'@'4/#OCSXO_`!*^'^F>&_B+\,]-D\/>.?C%>7FDZ+\0 M8V\0P>,/"OA#2K/3IK&ST=GU'^A.BFN*_8<\,%E."I4:>31R'`4<8YYI'#8" MKF-3,LSEB/K,'&XO-*TU"M5<<-1PU&*I86@J?NM?ZM^U<9XO,L75JSS:6= M8NIAE#`.MC*>!A@,!"BJ+JO#8;+Z4'*E3;Q%6O5?M<15]IJOYS/BS\/?V_OV M8OVVOV3/^"@7Q\\2_!7XU>'I]4LOV(OCK9?LK_`SXK>$/$&E?`/XSZMJNN^' MO'WCVT\1>/OBTVH^"O@_\9+?P]XLO;O0[/1]2L+?5+^TD_M"UU>>XTGJ_P!I MCXX:'^RC_P`%N](^/WQ-\!_&_6?A7JW_``2JL_A!:>)OA1\#_BA\7[9?B#JG M[7.M>,[;0+L?#SPQX@^PW">'/#.I:E 7Y_2>,IK,'3Q^$H5Z&( "_$GC[4M4^)O[ M+_QT^&GAN#P]X42SDUCR_$'C#P1I>G76K"*]CEL="M)I]7U18[@:?9W+P.@_ M,S]B7X._\%1?',?QP_;C^'GC']F?X#ZW^WM\4+[XOZA\/_VFOV>_BKXR^-G@ MKX5^#WOOA[^SM\/?$NJ^%_B[\-]*MM,\,?"72-(U;2M)D\,KJ5K>>+-9O-2O M#=ZE+I^G?T=45QT,_P`-E]+,*.4Y/AZ4,RC@:5=9K5_MM+#X.I5Q,Z$85Z&` MI\N)QKPN)G*47*'U*C2BIQE*4>NMDM?&U<#6S',JU2>7O%U*/]GTEEG^T8JG M3P\:\I0J8R:E0PJQ%""BTI?6ZLY2B[1E^`G[-7@7]KW]C[_@J)KMW^T3>_#_ M`.)'@G_@I=\/[S4?$'C']G?X4_$7P=\+/A]^T3^S%X7T>S\/7/C#3_%'B_XA M6G@.X^)WPHN=8LY]=N?$6GQ?$CQSIFC:?:::=3TJ:2Z^J?V'/#GB+1_VX?\` M@KIJ^K^'M>TG2/$_[1/[/M]X9U;5-&U+3M+\26-C^RI\,]-O;WP_J-Y:PV>M MVEEJ-O/I]Y Y^%7QY^/\`^S3XU_;D_9^T/2)M1L)_%7PT^.GP M^\8Z1^U]\.=!TY?.T/QU:6NAS>'OV@GT6!].\8^#;^7XF>*-(N=?\,:SXOA_ MI$HHKCS+/L7FN7Y3@<9&G.>4K%4Z>,2:Q.)HXA8.-*&,EK[>IA*6"I8:AB)- MUI82%"A6E4^JT*BZ,!D^&R[&YEC,-*I&&9?5I3PFGU?#5:#Q4JLL+%6]E#%5 M,5.O5H12I1Q$JU6FH?6*L#\>_P#@@=X6\4>"O^"37[*?AGQGX9\1>#_$NF/\ M>/[2\.>*]#U3PWK^G?;/VE_C+J%G]OT76K2RU.R^UV%W:WUK]IM8OM%E=6UW M#OMYXI'_`&$HHKFSG,99QF^:9M.E&A+,\QQF82H0G*I&C+&8BIB'2C4E&,IQ MINIRJ