The company received praise from its investment banking firm, Boustead Securities, LLC
November 17, 2021 09:00 ET
Ocutrx Technologies, Inc. , (formerly Ocutrx Vision Technologies, LLC) an augmented/extended reality (AR/XR) and 3D visualization manufacturing company, announced today the issuance of three (3) new patents on its unique Near-Eye Pupil-Forming Catadioptric Optical Engine by the U.S. Patent & Trademark Office. Dr. David Kessler, Ph.D. was the first named inventor on all three patents followed by Michael Freeman, founder and CEO/CTO, Mitchael Freeman, COO, and Jordan Boss the Ocutrx Chief Product Engineer. The patents teach the largest field-of-view (FOV) in the AR industry at 70 degrees FOV diagonally (60 horizontally and 40 degrees vertically).
These patents are important in the augmented and extended reality industry because virtually every other headset manufacturer, like Microsoft (HoloLens 2), Magic Leap, Beyeonics (Clear), Augmedic (Xvision) or Dispelix use “waveguide” technologies to create their AR images. Waveguide optics, as a general rule, restricted the user to a limited field-of-view and typically are plagued with chromatic aberrations and artifacts. While Ocutrx’s patents cover a completely new method which is not waveguide related.
“After attending SPIE (the global photonics convention) this year, it is my impression that nothing else in AR has such a large field-of-view, high resolution, brightness, and crisp artifact-free cinematic quality except Ocutrx’s Catidioptrxx™ optics in their AR/XR headsets,” said Dr. David Kessler, Ph.D., Ocutrx’s Chief Optical Engineer, and a member of the Ocutrx International Scientific Advisory Bord, chaired by Dr. William “Bill” Link, Ph.D., an ophthalmology Super KOL.
The first patent, US11,112,611 issued in September of 2021, entitled “System and Method for a Wearable Pupil-Forming Display Apparatus” covers the company’s AR/XR wearable headset called OcuLenz™ and its specific lens configuration based on catadioptric optics which form a superimposed 3D image from electroluminescent image generator onto a visible object scene, using pupil imaging. The headset patent includes several sensors, like Time of Flight, SLAM, head and hand gesturing sensors, 6DOF tracking, and voice UI and context awareness. The patent also covers actuators for adapting generated image content to the viewer. This patent covers which is believed to be the largest field-of-view in the industry at 60 degrees horizontally and 40 degrees vertically, which is a 16:9 configuration which consumers are sued to in televisions and monitors.
The second patent, 11,1O7,610 issued in October of 2021 entitled “System, Method, and Non-Transitory Computer-Readable Storage Media Related Wearable Pupil-Forming Display Apparatus with Variable Opacity and Dynamic Focal Length Adjustment” covers the AR/XR headset with added “Dynamic Opacity” which is a light modulator in the visible path capable of varying opacity of the visible object scene according to image characteristics. Similar to photochromatic lenses, the Dynamic Opacity permits a user to increase the shading on the outer lens so that the virtual image can still be seen in bright light conditions or on a sunny day. This solves one of the most troublesome problems for AR which is the brightness of the image in bright light conditions. This patent also solves another of the industries tough unsolved problems, of the eyes looking both near and far, and still having a clear virtual image. When looking at close real-world objects closer focal length is advantageous. To achieve this, the patent’s solution provides automatic sensor measurement for diopter adjustment of the optical relay optics as a part of a focal plane adjustment system.
The third patent US Patent No. 11,181,747 scheduled to issue in late November of 2021, is entitled “Wearable Pupil-Forming Display Apparatus” and its claims cover an AR/XR headset with catadioptric optics and microdisplays which are positioned perpendicular and away from the user’s forehead to reduce heat to the user. It also covers eye-tracking in the headset and additional control system function and features as well as data acquisition for the viewer.
“We have had a trifecta of a patent a month for the last three months and we are incredibly pleased to add these important patents to our Intellectual Property portfolio and the value of our Company. These patents bring us to eight (8) patents issued now, with over a hundred pending in more than 30 patent families,” said Michael Freeman, CEO/CTO of Ocutrx Vision Technologies. “These patents are important to the entire augmented reality headset industry, which is expected to bloom to over $300 billion per year.”
“We also applaud Dr. David Kessler, Ph. D. on his 100th patent which was the third optical patent for Ocutrx,” Freeman added. “Most of Dr. Kessler’s other patents were for Eastman Kodak Company where he manages their Advanced Optical Systems Design Group within Kodak Research Labs.
In congratulating the company, Pete Conley, Managing Director and Head of Intellectual Property (IP) Banking for the Company’s Investment Banking firm, Boustead Securities, LLC, stated, “As you obviously know, optical engines are widely used in televisions, projectors, laser systems, scanners, industrial robots, etc. Not surprisingly, the 8,131 issued “optical engine” patents worldwide (all jurisdictions) are held by leading players in those global markets (Bosch, Coretronic, LG, Samsung, GE, etc.) and the subcategory of catadioptric optical systems are generally used in telephoto lenses, telescopes, microscopes, semiconductor photolithography, etc. So, as expected, the 2,711 “catadioptric” issued patents worldwide are held by leading players in those global markets (Zeiss, Nikon, Canon, KLA-Tencor, ASML, etc.). Utilizing PatSnap, the world’s leading patent intelligence platform www.patsnap.com, I could find no issued patents in any jurisdiction utilizing catadioptric optical engines (other than yours) for AR, and no company utilizing these combined technologies for a wearable headset form factor with a plethora of use cases in AR/VR. I believe that Ocutrx is literally leading a new field of technology—and developing your key enabling technology as an “engine” transforms your business model to that which made Qualcomm and ARM Holdings / Nvidia the companies they are today.”
About Ocutrx
With offices in Palo Alto, Calif., a research and development labs in Tulsa, Oklahoma and manufacturing in Colorado Springs, CO, and a new innovation office in Laguna Beach, and London, England, Ocutrx is a new breed of Augmented/Extended Reality company focusing on a 3D Visualization Ecosystem for healthcare. The Oculenz for patients and the ORLenz for Surgeons both provide the best-connected, lightest-weight, highest-resolution AR headset, with the widest field-of-vision in the market. The Ocutrx OR-Bot provides surgeons with three different 3D visualization options in a cobotic O.R. system. The Ocutrx surgery microscope provides the highest (12K) resolution and the highest 3D magnification in the market with 24x to 144x magnification at 4K resolution per eye, and .8X too 288x at Full HD (1920x1080) resolution per eye. At a time when hospitals and clinics worldwide are looking to shift to 3D visualization, Ocutrx is already developing its 3D ecosystem creating impactful, revolutionary technology for the medical sector.
About Boustead Securities, LLC
Boustead Securities, LLC (“Boustead”) is an investment banking firm that executes and advises on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies, and transactions, for a broad client base. Boustead’s core value proposition is the ability to create opportunity through innovative solutions and tenacious execution. With experienced professionals in the United States, Boustead’s team moves quickly and provides a broad spectrum of sophisticated financial advice and services. Boustead is a majority owned subsidiary of Boustead & Company Limited, a diversified non-bank financial institution.
About Sutter Securities Group, Inc.
Headquartered in Irvine, California, Sutter Securities Group, Inc. (“SSG”), founded in 2013, through its affiliates, is an innovator and investment banking solutions provider. SSG owns and operates Sutter Securities Clearing, LLC, and Sutter Securities, Inc, FINRA member broker-dealers; Sutter Shareholder Services, LLC, a SEC-registered transfer agent; FlashFunders Funding Portal, LLC, a FINRA member funding portal; and Sutter Capital Management, Inc. SSG, through its affiliates, operates a U.S.-based online securities platform whose underlying technology and regulatory infrastructure are designed to enable issuers to engage in Regulation D, Regulation A (known as Reg A+), Regulation S, Regulation CF and fully registered S-1 and F-1 Initial Public Offerings in compliance with applicable federal, state and non-U.S. securities laws. SSG is a majority owned subsidiary of Boustead & Company Limited, a diversified non-bank financial institution. Additional information is available at SutterSecurities.com.
Forward-Looking Statements
No statement made in this press release should be interpreted as an offer to purchase or sell any security. Such an offer can only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws. Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the “safe harbor” under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding lingering effects of the Covid-19 pandemic on our customers’ businesses and end purchasers’ disposable income, our ability to raise capital on any particular terms, fulfillment of customer orders, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, our ability to realize revenue from expanded operation and acquiring components in China and the U.S., our ability to attract and retain highly skilled professionals, client concentration, industry segment concentration, our ability to successfully complete and integrate potential acquisitions, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our Private Placement Memorandum. Ocutrx may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company’s future filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.