FT. LAUDERDALE, Fla. — (BUSINESS WIRE) — December 30, 2013 — 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 personal printer.
"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�nbsp; 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 widely available.
The PrintSnaptic�nbsp; 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 level.
According to Gartner’s 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 "believes," "expects," "anticipates," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release only speaks as of the date of its distribution.
Ron Leyland, 954-332-2471