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NEW BRUNSWICK, N.J. - DatChat, Inc. (NASDAQ:DATS) announced Monday that the Canadian Patent Office has granted the company Canadian Patent No. 3,149,004, titled "Systems And Methods Of Transforming Electronic Content." The company’s stock, which has shown significant volatility with a 54% gain over the past year according to InvestingPro data, currently trades at $2.58.
The secure messaging and social media company said this patent adds to its intellectual property portfolio, which now includes 17 issued patents, one notice of allowance, and several filed international patent applications. The same invention is already patented in the United States and has received notices of allowance from Mexican and European patent offices. InvestingPro analysis shows the company maintains a strong liquidity position with a current ratio of 10.3, indicating robust short-term financial health.
"We are continuing to build our global intellectual property portfolio covering our advanced digital privacy and other technologies," said Darin Myman, Chief Executive Officer of DatChat, in a press release statement.
The patent grant comes as DatChat prepares for the worldwide release of its Myseum platform this fall. According to the company, the platform will feature new capabilities for sharing photos and videos along with an updated interface.
DatChat’s Myseum platform offers users 50 GB of free storage, with additional 50 GB increments available for $29.95. The service is currently available on iOS and Android, with a desktop version planned for later this year.
The company’s messaging application allows users to control how long their messages can be viewed before or after sending, prevents screenshots, and includes encryption features for photos.
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