Case 1:23-cv-00278-MN Document 54-3 Filed 02/09/24 Page 1 of 4 PageID #: 1047
`Case 1:23-cv-00278-MN Document 54-3 Filed 02/09/24 Page 1 of 4 PagelD #: 1047
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`EXHIBIT C
`EXHIBIT C
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`Case 1:23-cv-00278-MN Document 54-3 Filed 02/09/24 Page 2 of 4 PageID #: 1048
`2/8/24, 9:45 AN
`PiyRange Setlds Weiit Digpuie with KiGSO/ Seung $62-ailiéh Uc@isifg Weal GrayRange!
`o Range
`Signin
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`PayRangeSettles Patent Dispute with KioSoft, Securing $62 Million Licensing Deal
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`PayRangeSettles Patent
`TPM, eee, securing -
`$62 Million Licensing Deal
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`_....
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`, the inventor and solution provider of the leading mobile payment app and
`PORTLAND,OR (January31, 2024) -
`hardware for automated retail, and KioSoft Technologies, have settled a four-year patent dispute over mobile payment
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`technology used to enable consumersto pay self-service retail machines such as laundry and vending machines. PayRange,
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`which has an extensive patent portfolio, had alleged that KioSoft and its affiliate TechTrex had infringed on numerous PayRange
`patents. KioSoft has agreed to license PayRange technology that could exceed $62 million over a ten-year period based on
`outcomes with a base license of $40 million.
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`“While we had challenged the PayRangepatents vigorously, the Patent Trial and Appeal Board (PTAB) upheld the PayRange
`patents and, although wedisagreed with the result, we must now accept that PayRange has valid claims,” stated Charles Lee,
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`President of KioSoft. “We respect the technologies that have helped the self-service industry thrive; and welook forward to
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`continuing to lead innovation and development by providing best-in-class service to our customers with this fully-licensed
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`technology, without any futher legal distractions.”
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`https:/Awww. payrange.com/News/payrange-settles-patent-dispute-with-kiosoft-securing-62-million-licensing-deal/
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`Case 1:23-cv-00278-MN Document 54-3 Filed 02/09/24 Page 3 of 4 PageID #: 1049
`2/8/24, 9:45 Mase 1:23-cv-00278PhRangheectsrewit BdpBe witileiobORAeOridsePruc BcefsigBederhyRandkO49
`PayRange has developed technology that empowers consumers to pay unconnectedself-service machines with a smartphone
`which has providedsignificant improvements in convenience, improved sales for machine owners, and reduced operating —~
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`costs. The earliest patents date back to 2013, making PayRangea pioneer in the space.
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`“We're thrilled that we havefinally resolved the patent dispute with KioSoft and that our technological innovations have been
`vindicated,” stated Paresh Patel, founder and CEOof PayRange.“This agreement is more than a settlement; it’s recognition on
`the importanceofintellectual property in fostering game-changing industry innovation, and in the American Dream itself in
`which hard work, innovation, and individual property rights matter. We will continue to pursue enforcementof our payment app
`solution patents againstall infringers.”
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`Parties interested in learning more aboutlicensing PayRange technology may contactlicensing@payrange.com.
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`A messagefrom PayRange Founder & CEO Paresh Patel
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`About PayRange:
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`PayRange was foundedbyParesh Patel, an unattendedretail veteran, to provide operators and consumerswith a simple and
`secure mobile payment and loyalty solution for laundry, vending, amusement, and other small ticket merchants. PayRangeis
`the North American leader in mobile payments for unattendedretail, with over 7 million users and a network of machines
`throughout 350 cities and towns in the US and Canada. Find out more at www.payrange.com.
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`About KioSoft Technologies:
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`KioSoft provides innovative and powerful unattended paymentsolutions for a wide variety of industries including Laundry
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`Markets, Air Pump & Vac, Car Wash, Amusement, Coffee Kiosks, Parking, and Vending. KioSoft has headquarters in Boynton
`Beach,FL USA, and international offices in Toronto, Canada, Qingdao,China, Mexico City, Mexico, Bucharest Romania, and Seoul,
`Korea. As a single-source provider, KioSoft controls all facets of the solutions it provides.
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`Media Contact:
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`Stephanie Cordisco
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`press@payrange.com
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`https:/Awww. payrange.com/News/payrange-settles-patent-dispute-with-kiosoft-securing-62-million-licensing-deal/
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`Case 1:23-cv-00278-MN Document 54-3 Filed 02/09/24 Page 4 of 4 PageID #: 1050
`2/8/24, 9:45 Mase 1:23-cv-00278PhiRanghaecasrewit dpe witileiobOkAeOritdsePraiucn UceisiigBede?hyRandkO50
`Download the Press Release
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`
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`eee
`eeeee ly @ App Store
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`© 2024 PayRangeInc.All rights reserved.
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`Patents: www.payrange.com/patents
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`https:/Awww. payrange.com/News/payrange-settles-patent-dispute-with-kiosoft-securing-62-million-licensing-deal/
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