Umbra Applied Technologies Group (OTCMKTS:UATG) Falls Despite Company Strategic Partner Next Casting Receives Patent

May 30, 2023May 30, 2023 Pete Matthews $OTCMKTS:UATG, $UATG, $UATG news, $UATG stock, $Umbra Applied Technologies Group (OTCMKTS:UATG)

Last Friday there was some significant news with regards to the Umbra Applied Technologies Group Inc (OTCMKTS:UATG) after it emerged that the company’s strategic partner Next Casting Technologies had been awarded a new patent.

Trading Data

On Friday, ANPMF stock jumped 10.31% to $0.5830 with more than 255 shares, compared to its average volume of 20.53K shares. The stock moved within a range of $0.5830 – 0.5830 after opening trade at $0.5830.

The patent in question was for technology that it had development for using in advanced SmartCast, BioSplint and IntelliBrace products. The patent had been filed back in December 2017 and was one of the four patents that had been pending. Next Casting also noted that it expected the other patents to be approved over the course of the coming ten to twelve months. It was a significant development for Umbra Applied Technologies Group as well and it would be interesting to see if it brings any attention to the company’s stock or not.

Next Casting already started the process of commercializing its proprietary technologies, which, it believes, would bring about improvements in the lives of people through a unique line up of products. Chief Executive Officer of Umbra Applied Technologies Group Alex Umbra spoke about the patent approval as well. He noted that it was important to have the necessary resources for protecting intellectual property, which, in turn help companies to start production schedules and figure out execution strategies.

Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.