Plaid Provides Corporate Updates

Core Insights - Plaid Technologies Inc. is providing updates on its patent application related to expanded graphite technology and has decided not to proceed with the application due to clarity issues identified by the Italian Patent and Trademark Office [5][6][8] - The company has entered into consulting and marketing agreements to enhance its business development and marketing efforts [2][14] Patent Application Status - The company acquired an interest in an Italian patent application for expanded graphite but has chosen not to continue due to the examiner's opinion that one of the claims lacked clarity [5][6] - The decision not to pursue the patent application means that Plaid will not hold patent protection for the expanded graphite technology, which may require new filings or alternative IP strategies in the future [8][9] Financial Agreements - A consulting agreement with Petro-Flow LLC has been established for three months, with a total fee of USD $300,000 payable in three installments [2][4] - A marketing agreement with bullVestor Medien GmbH has also been signed for three months, with a total fee of EUR €400,000 payable in three installments [14][17] Share Cancellation - Following the decision to discontinue the patent application, 2,000,000 shares related to the patent application component will be returned and cancelled, representing approximately 12% of the original consideration for the FIHO assets [11][12][13] Market Potential - The company aims to become a leading supplier of graphene-reinforced plugging solutions in the U.S. well plugging and abandonment market, addressing the challenge of methane leaks from abandoned wells [3][20] - The potential market for graphene-reinforced concrete in the U.S. is estimated to be as much as USD $100 billion, given the large number of orphaned or abandoned wells [20]