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FORM 8-K
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest reported) May 14, 2002
USA VIDEO INTERACTIVE CORP.
(Exact name of registrant as specified in its chapter)
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WYOMING 0-29651 06-15763-91
(State or other jurisdiction (Commission (IRS Employer
of incorporation File Number) Identification No.)
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70 ESSEX STREET, MYSTIC, CONNECTICUT 06355
(Address of principal executive offices) (Zip Code)
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(800) 625-2200
Registrant's telephone number, including area code
Not Applicable
(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE.
On April 23, 2002 the Registrant announced that the prominent intellectual
property and technology law firm Fish & Richardson P.C. (www.fr.com) will
commence protection of USVO's store-and-forward video-on-demand U.S. patent
(number 5,130,792), beginning with an aggressive licensing program.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
Exhibit 99.1 News Release dated April 23, 2002.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
USA VIDEO INTERACTIVE CORP.
Date : May 14, 2002 By : /s/ Anton J. Drescher
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ANTON J. DRESCHER,
CORPORATE SECRETARY
[GRAPHIC OMITED]
FISH & RICHARDSON P.C. TO COMMENCE PROTECTION INITIATIVES FOR USA VIDEO
INTERACTIVE'S INTERNET VIDEO DELIVERY PATENT
MYSTIC, CONNECTICUT - APRIL 23, 2002 - USA Video Interactive Corp. (OTCBB: USVO;
TSX: US; BSE/Frankfurt: USF; www.usvo.com) today announced that the prominent
intellectual property and technology law firm Fish & Richardson P.C.
(www.fr.com) will commence protection of USVO's store-and-forward
video-on-demand U.S. patent (number 5,130,792), beginning with an aggressive
licensing program. With this relationship now formalized, initiatives will begin
immediately to approach high-profile companies engaged in providing
video-on-demand (VOD) services in order to recognize and capture the value of
USVO's pioneering VOD intellectual property rights.
The signing of this agreement comes at a time when major motion picture studios
and other owners of valuable entertainment and educational content are deploying
services to distribute their video content legitimately in an effort to stem the
tide of Napster-like video swapping and downloading from underground websites.
With the advent of large, low-cost data storage devices in computers and set-top
boxes, the prevalence of broadband connections into homes and businesses, and
the emergence of numerous faster-than-real-time video transfer techniques,
viable VOD models are now coming of age. USVO's '792 patent explicitly relates
to such VOD delivery processes.
"This relationship is an important milestone in the development and protection
of USVO's VOD intellectual property rights," said Edwin Molina, President and
CEO of USA Video Interactive. "We are confident that Fish & Richardson has the
stature, the influence, and the legal and technical expertise to aggressively
pursue this initiative to help create a robust revenue-generating model based on
our longstanding intellectual property rights in this field," added J. Andrew
Huffman, USVO's in-house patent counsel. "Upon careful review of the patent
itself and the records of the patent examination process, we are very confident
in the strength and breadth of USVO's patent rights."
ABOUT USA VIDEO INTERACTIVE
USVO is a developer and supplier of Internet media delivery services, systems,
and innovative end-to-end solutions. The company has developed its StreamHQ
architecture to provide a wide range of business customers with value-added
media delivery services. While competitors take a "one-size-fits-all" streaming
approach, StreamHQ brings unique value propositions to individual vertical
markets with functionality designed specifically for those markets. Beyond high
quality media delivery, USVO gives its customers media asset management tools
and information that provide accountability and return on investment (ROI) for
their streaming expenditures. USVO has created Zmail and mediaClix , which use
StreamHQ to deliver rich media campaigns for advertising, marketing, corporate
communications, and customer service applications. USVO holds the pioneering
patent for store-and-forward video, filed in 1990 and issued by the United
States Patent and Trademark Office on July 14, 1992; it has been cited by at
least 145 other patents. USVO holds similar patents in Germany, Canada, England,
France, Spain, and Italy, and has a similar patent pending in Japan. For more
information, visit www.usvo.com.
ABOUT FISH & RICHARDSON P.C.
Fish & Richardson P.C. is a national law firm with over 250 lawyers in eight
offices: Boston, Dallas, Delaware, New York, Silicon Valley, San Diego, Twin
Cities, and Washington, DC. Founded in 1878, the firm represented Thomas
Edison, Alexander Graham Bell, and the Wright Brothers. For over 120 years, the
firm has served great innovators, helping to protect countless ideas, nurture
discoveries, and bring new concepts to market. The firm prosecuted and
litigated many of the fundamental patents of an industrialized America, serving
corporations creating the cutting-edge technologies of the day, including the
telephone, air brake, steam turbine, automobile, and radio. Today, the firm
continues to represent great innovators working in leading technologies. For
more information, visit www.fr.com.
USA VIDEO INTERACTIVE Corporate Headquarters Office: 70 Essex Street; Mystic, CT
06355; (800) 625-2200; (860) 572-1560. Canada Office: 837 West Hastings Street;
Suite #507; Vancouver, B.C. V6C 3N6. Trading symbol on the OTCBB: USVO; Trading
symbol on The TSX Venture Exchange US; Trading Symbol on the Berlin and
Frankfurt Stock Exchanges: USF. Standard & Poors Listed. CUSIP 902924208. The
TSX Venture Exchange (TSX) has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release. For more information contact:
Kevin Yorio, 860-572-1560; info@usvo.com
This press release may contain forward-looking statements. Actual results may
differ materially from those projected in any forward-looking statement.
Investors are cautioned that such forward-looking statements involve risk and
uncertainties, which may cause actual results to differ from those described.