Vertical Computer Systems, Inc. (the “Company”) has entered into a license agreement with Sawblade Ventures, LLC (“Sawblade”). The Sawblade technology is a patented method for integrating flexible distributed security circuits into a customer’s application microelectronics. The method includes a design automation tool and a library of custom security-oriented circuits. The method can be used during the design phase of any of various markets including the Internet of Things (“IoT”) market, defense, automotive, smart grid, and networking. The Sawblade technology can give real-time response, internal monitoring and counter measures to any application.
Under the terms of the license agreement, the Company has obtained a world-wide non-exclusive license to market and distribute the Sawblade technology in the IoT market. The Company may also sublicense the Sawblade technology for use in IoT devices, plus the Company has a six-month option to convert the arrangement to an exclusive license.
The Company will utilize the Sawblade Technology to work with the Company’s Vertical Internet Platform (“VIP”) and provide an end-to-end solution for IoT devices. The VIP is the Company’s patented, clean energy, web server technology on a mobile device, and its use in conjunction with the Sawblade technology is specifically intended to give users of IoT devices a private and secure channel to manage and control their devices.
In addition, the Company hereby is providing notice that the Company is changing the proposed date of its Annual Meeting of Stockholders. In lieu of holding the Annual Meeting at 11:00 am (Central Standard Time) on November 27, 2018, the Annual Meeting will be held on a date in mid-January 2019. At the Annual Meeting, the Company will make observations regarding its financial performance and outlook. The new date of the Annual Meeting will be formalized in a future notice.
This Current Report is being furnished to the SEC under Item 7.01 of Form 8-K in satisfaction of the public disclosure requirements of Regulation FD and shall not be deemed “filed” for any purpose. For new announcements and news releases concerning the Company, please visit the Company’s News Announcements webpage at http://vcsy.com/announcements.html and the Company Twitter feed at https://twitter.com/VCSYInc.