Democrasoft Announces Management Update
July 05 2011 - 5:00AM
Marketwired
Democrasoft, Inc. (PINKSHEETS: DEMO) today announced management
updates in three areas of interest to the financial community and
shareholders:
(1) The last of the legacy patent sales has been completed. U.S.
patent #05262875 (also known as the "Mincer" patent) was sold for
$50,000 net to the Company in a post-auction transaction through
ICAP/Ocean Tomo, the same auction house that sold the rest of the
Company's legacy patents earlier this year. This concludes the
process of monetizing the Company's legacy patent portfolio and
does not affect the pending patent applications related to the
Company's Collaborize® cloud-based social networking platform.
(2) At last week's Annual Meeting of Shareholders, all of the
Company's Directors were re-elected.
(3) As a result of ongoing marketing activities, including the
Company's previously announced participation at ISTE 2011 education
technology conference in Philadelphia last week and the previously
announced appearance of CEO Richard Lang on the Dylan Ratigan Show
on MSNBC on June 24
(http://www.msnbc.msn.com/id/3096434/ns/msnbc_tv#43529325), new
Collaborize Classroom™ sites launched last week were the highest
weekly total since the Company announced the free online learning
platform. The number of launched sites increased from 5,274 on
Friday, June 24 to 6,380 at the end of the day on Friday, July 1,
2011 even though schools are generally not in session.
"We are extremely gratified by the growth of the Collaborize
Classroom sites launched by teachers," said Richard Lang,
Democrasoft's Chairman & CEO. "We are very hopeful that, as we
launch our global Topic Library and other important new elements of
Collaborize Classroom within the education community over the
coming weeks, our teacher network will continue to expand to even
greater numbers."
About Democrasoft: Democrasoft, Inc.,
headquartered in Santa Rosa, CA, is a 20-year-old public company
(PINKSHEETS: DEMO) with a history of pioneering technology. The
Company's flagship product, Collaborize®, is a web-based solution
for organizing groups with a common purpose into powerful,
decision-making communities. It is designed to empower groups of
all sizes -- businesses, non-profits, organizations, governments,
their members and citizens -- to resolve real problems and drive
toward actual implementation of collective solutions. Democrasoft
is dedicated to facilitating a vision of online "social networking
with purpose." For more information, please visit
http://democrasoft.com.
This Press Release contains forward-looking statements similar
to those covered by the safe harbor provisions under the Private
Securities Litigation Reform Act of 1995. We believe that the
information regarding the growth of the Collaborize Classroom user
base is based on reasonable assumptions by the Company. These
forward-looking statements are clearly subject to numerous
uncertainties and risks, and actual results and developments could
differ materially from our expectations. We do not undertake any
responsibility for providing any updates with respect to the
information contained in this Management Update.
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For further information contact: Shana Ray 888-993-8683
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