|[December 30, 2013]
Puget Initiates IP Protection for 3D Printer Technologies in Development
FT. LAUDERDALE, Fla. --(Business Wire)--
Puget Technologies (OTCBB: PUGE) makes a noteworthy step towards
delivering on the promise of affordable 3D printing for personal use in
the consumer marketplace with the announcement of plans to file patent
and mark protection to protect intellectual property specific to the
SnapSearch app and PrintSnaptic platform. Puget is developing these
supporting technologies that will extend the usefulness of the My3DP
"IP protection is a significant part of our go-forward strategy in the
3D printing space," said Ron Leyland, President and CEO of Puget
Technologies. "We understand the investment we must make to not only
deliver a unique 3D printing platform, but to develop our supporting
technologies. In 2014 alone, Puget forecasts 5.6 percent of its revenues
in R&D. We are expected to protect the investment of our shareholders."
3D printing has made the transition to producing unique consumer goods,
allowing user creativity to constantly discover new applications for the
technology. Puget plans to leverage the growing interest in personal 3D
printing for crafting, jewelry, and domestic goods.
SnapSearch? was conceived as a smart phone app allowing the user to take
a picture of an image or scan a UPC symbol to search its database of 3D
source files, making royalty-free and licensed product images more
The PrintSnaptic? is a software bundle allowing the user the ability to
upload and download images for 3D printing. With the ability to see and
edit images right on the screen, users can take 3D creativity to a new
According to Gartner's (News - Alert) recent report, end-user spending on 3D printers
is now forecasted to exceed $412 million this year, up 43 percent from
spending of $288 million in 2012 - with an even larger increase of 62
percent projected for next year, reaching $669 million. While Gartner's
forecast accounts for enterprises continuing to dominate 3D printer
purchases the consumer segment is expected to exceed $133 million.
Puget Technologies recently launched an improved website providing more
information on its business segments at http://www.pugettechinc.com.
About Puget Technologies (PUGE)
Puget Technologies is a publicly traded company on the OTCBB Market
stock exchange under the ticker symbol PUGE. Headquartered in Ft.
Lauderdale, Florida, Puget Technologies acquires, develops and sells
leading edge consumer oriented products ready for rapid
commercialization. Much of its resources are dedicated to research and
development in order to provide consumers with quality options while
meeting the expectations of its investors.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This news release contains forward-looking
information within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange act of
1934, as amended, including statements that include the words
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