LAS VEGAS and VANCOUVER, British Columbia, May 05, 2021 (GLOBE NEWSWIRE) — TAAT™ GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “TAAT™”) is pleased to announce that its patent filing with the United States Patent and Trademark Office (“USPTO”) for the technique which causes Beyond Tobacco™ to taste and smell similarly to tobacco has been advanced to “nonprovisional” status, with the assignment of a patent examiner currently pending. In a press release dated September 4, 2020, the Company announced that it had filed for patent protection of this refinement technique, which characterizes both TAAT™ and its Beyond Tobacco™ base material. TAAT™ was launched at retail in Ohio in Q4 2020, and was made available to the majority of smokers aged 21+ in the United States through e-commerce in February 2021. Sentiments from users of TAAT™ have largely reflected satisfaction with the product’s experiential similarity to that of smoking a tobacco cigarette, despite no tobacco or nicotine content whatsoever in TAAT™.
As the Company continues its efforts to build market share in the USD $814 billion global tobacco industry, patents can play an important role in its ability to establish a market position and preserve the competitive advantages that can be had from patent protection. Incumbent firms in the tobacco industry are among the world’s top patent filers, with Philip Morris International and Japan Tobacco International having been listed in the 100 Top Patent Filers by the European Patent Office in 2016 and 2019, respectively1, 2.
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With the Company’s patent filing having advanced to nonprovisional status, an examiner will be assigned to review the Company’s claims and potentially grant a United States patent based on their findings. A “provisional” patent application is initially filed to establish a U.S. filing date for an invention, and must be followed by a nonprovisional application within 12 months in order to proceed to formal review. After a patent is granted, the holder generally benefits from its protection for a period of 20 years from the provisional filing date.
The Company’s nonprovisional patent application filed this week has revised the initial claims to seek an enhanced scope of protection in the tobacco industry at the advice of its patent attorney Edmond DeFrank (announced in a press release dated January 15, 2021), who has written and prosecuted more than 1,000 patent and trademark applications for clients to include Microsoft, Hewlett-Packard, IBM, and NASA. These changes to the claims include details regarding the flavour elements of Beyond Tobacco™ as well as an expanded range of materials which can potentially be used for this purpose.
TAAT™ Chief Executive Officer Setti Coscarella commented, “The intellectual property protection afforded by a patent on the Beyond Tobacco™ base material of TAAT™ could improve our competitive position in the tobacco industry. Aside from the fact that it would be more difficult for competitors to imitate our product, it would be more practical for us to manufacture Beyond Tobacco™ using third-party producers instead of producing only in-house, which we currently do because the process is a trade secret. We are pleased to have advanced this process in line with standard timeframes for U.S. patent applications, and we look forward to undertaking the steps to finalize this patent which we believe can strengthen TAAT™ as a competitive product and a uniquely better choice for smokers aged 21+.”
On behalf of the Board of Directors of the Company,
TAAT™ GLOBAL ALTERNATIVES INC.
Setti Coscarella, CEO and Director
For further information, please contact:
TAAT™ Investor Relations
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About TAAT™ Global Alternatives Inc.
The Company has developed TAAT™, which is a tobacco-free and nicotine-free alternative to traditional cigarettes offered in “Original”, “Smooth”, and “Menthol” varieties. TAAT™’s base material is Beyond Tobacco™, a proprietary blend which undergoes a patent-pending refinement technique causing its scent and taste to resemble tobacco. Under executive leadership with “Big Tobacco” pedigree, TAAT™ was launched first in the United States in Q4 2020 as the Company seeks to position itself in the $814 billion1 global tobacco industry.
For more information, please visit http://taatglobal.com.
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking information and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur, or be achieved. Forward-looking information in this news release includes statements regarding the anticipated performance of TAAT™ in the tobacco industry, in addition to the following: Potential outcomes from the Company’s recent nonprovisional patent filing in the United States. The forward-looking information reflects management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed timeframes or at all. Factors that could cause actual results or events to differ materially from current expectations include: (i) adverse market conditions; (ii) changes to the growth and size of the tobacco markets; and (iii) other factors beyond the control of the Company. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information. The forward-looking information included in this news release are made as of the date of this news release and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
The statements in this news release have not been evaluated by Health Canada or the U.S. Food and Drug Administration. As each individual is different, the benefits, if any, of taking the Company’s products will vary from person to person. No claims or guarantees can be made as to the effects of the Company’s products on an individual’s health and well-being. The Company’s products are not intended to diagnose, treat, cure, or prevent any disease.
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