Irvine, CA November 6, 2007 –Debt
Resolve, Inc. (AMEX: DRV) and Apollo Enterprise Solutions, LLC
jointly announced today that they have reached a settlement of
the pending patent infringement lawsuit between Debt Resolve and
Apollo Enterprise Solutions in the U.S. District Court, District
of New York.
The parties came to agreement that Apollo's Intelligent Debt Solutions™ system,
as represented by Apollo, does not infringe on Debt Resolve's United
States Patent Nos. 6,330,551 and 6,954,741, both entitled Computerized
Dispute Resolution System and Method. The parties further agree
to respect each other’s intellectual property to the extent
it is validly patent protected with the parties preserving all
of their legal rights.
At present, the parties do not contemplate any further legal action
against each other.
About Apollo Enterprise Solutions
Apollo Enterprise Solutions, LLC, headquartered in Irvine, California,
provides enterprise-class web-hosted solutions for a variety
of industries involved in receivables management and debt collections.
At the heart of Apollo’s Intelligent Debt Solutions™ system
is the patent-pending IDS Decision Engine™ which provides
Decisioning Intelligence™, a revolutionary process that
delivers more debtors for recovery and settlement and more dollars
per settlement by creating individual, customized offers that
reflect a debtor’s most realistic ability to pay. For more
information, please visit the website at www.apolloenterprise.com.
About Debt Resolve, Inc.
Debt Resolve provides lenders, collection agencies, debt buyers
and utilities with a patent-based online bidding system for the
resolution and settlement of consumer debt and a collections
and skip tracing solution that is effective at every stage of
collection and recovery. Through its subsidiary, First Performance
Corporation, the company is actively engaged in operating a collection
agency for the benefit of its clients, which include banks, finance
companies and purchasers of distressed accounts receivable. The
stock of Debt Resolve is traded on the American Stock Exchange.
Debt Resolve is headquartered in White Plains, New York. For
more information, please visit our website at www.debtresolve.com.
Contact:
Jeff Dickey
Executive Vice President - Sales & Marketing
Apollo Enterprise Solutions, LLC
(949) 399-1000 x220
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