Ann: Prospectus - Convertible Notes, page-52

Hey folks - quick note on the IP/patent discussion. I work in Research and Development Tax Incentives (Big 4) in Australia/Singapore and most of my clients in the IT/Digital space don't have patents for their technology. There's numerous reasons as to why this is, such as it being expensive, risk of know-how being made public in patent write-up, not needing legal protection (focus on being first to market and maintaining a technological lead to create time barriers for competitors), relying on other controls to keep confidential information safe, etc. Not to mention software is generally difficult to patent.

While there are other risk factors to an investment in TV2U- this isn't really one of them.

And as common sense suggests - if a patent made strong sense for the company, they probably would have pursued it. Their advisors probably suggested they don't.