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CODEIFAI LIMITED — Regulatory Filings 2025
Jan 29, 2025
64630_rns_2025-01-29_f4d6f822-d8bf-49db-afa0-2ec304790be7.pdf
Regulatory Filings
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ASX ANNOUNCEMENT
ASX: CDE | 30th January 2025
CDE commences strategic review and terminates MIT licence
Brand Solution technology group Codeifai Limited (ASX: CDE) reports that it has commenced a Strategic Review of its material science division and as a first step has informed Massachusetts Institute of Technology (M.I.T.) of its termination of its exclusive licence over the following Patents and Patent families:
M.I.T Case No. 11917 US Patent No 7709544 including various non-US Patents
M.I.T. Case No 15231L US Patent 14/214594 including various non-US Patents
The Company started its life as an anti-counterfeit solution provider with a range of proprietary tracers combined with proprietary scanners, after which it added its own CDE developed and patented smartphone readable technology named MotifMicro and entered into an exclusive licence with M.I.T. (Massachusetts Institute of Technology) for a serialised version of the MotifMicro smartphone readable anti-counterfeit technology known internally as MM2.
As the Company has shared with shareholders previously, the intention is to move to a “Digital First Engagement First”. This move is fully in line with that strategy which proposes that the Company focuses on Digital transfer technologies and AI based overlays that do not require the shipment of materials to production lines, nor the long lead times the Company has experienced in selling these material science based solutions. Additionally the ongoing cost of maintaining the M.I.T. Patent rights and a requirement in future years to spend a considerable amount per annum on R&D would have caused an increased financial burden on the Company. M.I.T. have been informed of the difficulty in commercialising these Patents and the delays in the commercialisation process caused by the pandemic and other factors beyond the Company’s control.
Strategic Review of CDE’s Material Science division
In considering this Strategic Review, the Company does not discount the possible sale of CDE’s existing and wholly owned Patents and IP amassed over time including the following Patents which we consider to be valuable and a blocker to competitors launching smartphone readable technologies:
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Patent covering the use of a mobile device to interact with a physical security material which comprises a phosphor (U.S. app 14/441,470 with a priority date of 2013) GRANTED October 5th 2021
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China SIPO Patent (201310109929.3) covers two or more light energy responsive materials, GRANTED December 2021
This termination allows CDE to focus on the Strategic Review and allows flexibility as all the assets within that division are wholly owned by the Company, additionally there are considerable ongoing cost savings from termination.
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Codeifai Limited
Level 5 126 Phillip Street SYDNEY NSW 2000
codeifai.com
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CDE Executive Chairman and Group CEO John Houston said: “In 2024 the Company shared with shareholders its strategy for 2025 “Digital First Engagement First” which plots a path forward with our self-service SaaS and AI offerings especially in the QR code generation and management space. We look forward to reporting the results of the strategic review of the Material Science division and the outcome of that for the future prospects of the Company as we focus on the “Digital First Engagement First” strategy which we believe can drive a step-change in the company’s revenues and transform our financial performance.
This announcement has been authorised by the Board of Codeifai Limited.
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For further information, please contact: Investor Relations Email: [email protected]
About Codeifai Limited
Codeifai Limited (ASX: CDE) is a leading provider of digital and AI-powered brand solutions listed on the Australian Stock Exchange. With a strong focus on empowering brands through smart digital engagement, Codeifai’s high-margin offerings are designed to deliver exceptional scalability and profitability. Our solutions allow Brands to Connect Deeper, Faster, Smarter with their consumers.
Codeifai’s digital Brand Solutions provide a code for everybody and everything.
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Codeifai Limited
Level 5 126 Phillip Street SYDNEY NSW 2000
codeifai.com