Vancouver, British Columbia, February 17, 2016: Oculus VisionTech Inc. (the “Company” or “Oculus”) (TSX.V: OVT; OTCQB: OVTZ) is pleased to announce that, subsequent to the successful completion of alpha testing of its Cloud-based Document Protection System (DPS) technology and the commencement of field trials of the document protection features of the Company’s Cloud-DPS technology (see news release of February 9, 2016), the Company is in the process of implementing its proprietary watermarking technology to its new photo DPS product that will offer online, Cloud-based security for documents in general, and that can be optimized for digital photographs in particular, and which is invariant to document/photo file format (and subsequently to today’s image/video CODECs).
The technology underlying the photo DPS product is on proprietary scanning technology that allows a digital picture to be scanned with an “image understanding” algorithm that identifies and extracts prominent image features. The Company’s proprietary DPS technology is based on protecting documents with an advanced, forensic-grade, invisible watermarking algorithm and then comparing the original protected document with a returned document. If a document has been tampered with, the DPS document authentication feature will highlight the tampered locations in the document.
The initial goal of the photo DPS product will be to evaluate and confirm the digital photograph/picture authentication process, as well as the product’s ability to preserve the robustness and resilience of returned information, while minimizing false positives. Assuming successful validation, the Company expects to release a commercial version of the photo DPS system and begin nation-wide product field testing in the United States, during the second quarter of 2016.
Tom Perovic, a director of the Company, who is overseeing the testing and launch of the Company’s Cloud-DPS technology stated, “The offering of an online photo/picture DPS product will allow Oculus to open another vertical market, the social media market, which we expect will be another revenue-generating product for Oculus.”
About the Oculus Cloud-DPS Technology
The Oculus Cloud-DPS is an Internet-centric, Cloud-based web service for document tamper-proof protection and authentication. The first step is taking a document in digital form and protecting each page with an advanced, forensic-grade, invisible watermarking algorithm, and returning an image-based protected PDF document. The document is also encrypted to provide access control security. In the second step, the Oculus Cloud-DPS document authentication feature takes in the protected PDF document and returns authentication results. If the document was tampered with, the returned pages will highlight the tampered locations. Cloud-DPS technology is intended to protect high-value, sealed documents against any malicious tampering or forgery. Vertical target markets for high value documents have been identified as personal, real estate and corporate legal contracts, personal last wills, medical records, law enforcement records or financial institutions and government issued documents. The following document formats are accepted by the Cloud-DPS: *.doc, *.docx, *.xls, *.xlsx, *.xps, *.pdf, and *.jpg.
This news release does not constitute an offer to sell, or the solicitation of an offer to subscribe for or buy any securities, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Oculus designs and markets to business customers streaming video content distribution, and Internet Cloud-based digital document protection, based on embedded digital watermarking, as well as video-on-demand (VOD) systems, services and source-to-destination digital media delivery solutions that allow live or recorded digitized and compressed video to be transmitted through Internet, intranet, satellite or wireless connectivity. The Company’s systems, services and delivery solutions include document, still image and motion video digital watermark solutions and documents, photographs (still image) and video content protection. Learn more about Oculus at oculusvisiontech.com or follow us on Twitter and Facebook.
ON BEHALF OF THE BOARD OF DIRECTORS
For further information, contact:
Chief Financial Officer and Director
Telephone: (604) 685-1017
Fax: (604) 685-5777
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements and information within the meaning of applicable securities laws (collectively, “forward-looking statements”), including the United States Private Securities Litigation Reform Act of 1995. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, statements as to the potential market for the Cloud-DPS technology, the continued successful testing of the Cloud-DPS and that the Cloud-DPS will produce revenue for Oculus. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the change of business focus of the management of Oculus, the inability of Oculus to pursue its current business objectives, due to lack of financing or otherwise, the failure of the Cloud-DPS to perform as expected, the ability of Oculus to successfully test and launch the Cloud-DPS as a commercially viable product. These forward-looking statements are made as of the date of this news release and Oculus assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in these forward-looking statements. Although Oculus believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in Oculus’ periodic reports filed from time-to-time with the United States Securities Exchange Commission and Canadian securities regulators. These reports and Oculus’ public filings are available at www.sec.gov in the United States and www.sedar.com in Canada.