NEW BRUNSWICK - DatChat, Inc. (NASDAQ: DATS), a micro-cap company valued at $5.42 million specializing in secure messaging and social media, has been granted a new US Patent (No. 12,166,889) for its upcoming Myseum platform. The company's stock has shown significant momentum, gaining over 24% in the past week, according to InvestingPro data. Myseum is slated for release in the first quarter of 2025 and aims to provide a secure method for users to store and share digital media content.
The platform is designed to allow users to create a digital legacy that can be easily accessed and shared with present and future generations. This latest patent brings DatChat's intellectual property portfolio to a total of 14 patents, furthering the company's goal of building a secure, multi-tiered social media ecosystem. The company maintains a strong financial position with more cash than debt and a healthy current ratio of 8.96, indicating solid short-term liquidity.
DatChat has been recognized for its focus on privacy and security, offering features in its messenger and social network that include message lifespan control, screenshot prevention, and the ability to hide encrypted photos. The patented technology seeks to provide users with a traditional texting experience while ensuring control and security over their messages.
The new patent is expected to enhance DatChat's offerings by supporting the development of its secure social media platform, Myseum. The company emphasizes that its mission is to allow users to share and store digital content, including messages, photos, videos, and documents, with a high level of privacy and security.
The information for this article is based on a press release statement from DatChat, Inc. It should be noted that the company has made forward-looking statements regarding its expectations for the Myseum platform. These statements are subject to various risks and uncertainties that could cause actual results to differ materially from those projected. According to InvestingPro analysis, the stock currently trades below its Fair Value, though analysts anticipate sales decline in the current year. DatChat disclaims any obligation to update these forward-looking statements, except as required by law. For deeper insights and 12 additional exclusive ProTips about DATS, visit InvestingPro.
In other recent news, Dragon Interact, a subsidiary of DatChat, Inc., has acquired RPM Interactive, Inc., a publisher of AI-driven gaming and podcasting applications. The acquisition was completed through a share exchange deal, issuing 3.5 million shares to secure full ownership of RPM Interactive and its intellectual property. As a result of this acquisition, Dragon Interact is rebranding to RPM Interactive, indicating a shift towards AI-powered technologies. The company has appointed Michael Mathews, a veteran in the technology and marketing sectors, as the Chairman of the newly named RPM Interactive Inc.
In addition, DatChat, Inc. has been granted a Notice of Allowance for a U.S. patent related to blockchain-based communication systems, a significant step for the development of its Myseum platform. The company also acquired an AI-driven tool to enhance the media library organization capabilities of this platform.
Furthermore, DatChat's board of directors has approved an amendment to its bylaws, revising the voting rights of shareholders for company proposals. This is part of the company's commitment to transparency and fairness in its corporate governance. These recent developments represent DatChat's continuous efforts to provide secure and intuitive sharing solutions, meeting the growing need for personal media management.
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