Patent and Related Assets for Sale

Sale of Patent, (Patent No. US 8, 794,061 B1) and all prototypes produced in connection with obtaining the Patent, as well as the 100% ownership interest in the Subsidiary (UAG IP, LLC).

Patent: The Patent obtained for the device from the United States Patent and Trademark Office (the “USPTO”), Patent No. US 8, 794,061 B1 (the “Patent”), which is dated August 5, 2014. On September 22, 2014, Mr. Sickels assigned the Patent to the Subsidiary under an Assignment. The corporate charter for the Subsidiary was forfeited by the Texas Secretary of State due to the failure to file Texas franchise tax returns and was never reinstated.

Device: The device electronically measures the properties of drilling fluids, or “mud.” This device determines the density and other properties in corrosive liquid, such as drilling mud. The device uses at least two sensor elements with ceramic facings spaced at a known vertical distance apart and inserted into the fluid. The differential pressure measurement provided by these sensors is used to calculate the density of the liquid. This density measurement is then reported in realtime to an operator.