NetWorth Services Announces Patent on Cost Basis Application

PHOENIX, March 09, 2017 -- NetWorth Services, Inc. announced today that the U.S. Patent and Trademark Office has issued U.S. Patent No. 9,563,917 B2. This patent secures NetWorth’s computer-implemented method and apparatus for determining a cost basis associated with a plurality of shares of a security. This patent further validates the groundbreaking technology developed over many years by NetWorth and has been adopted by many leading service providers in the financial services industry.

This newly issued patent further enhances the Company’s patent family, which includes U.S. Patents Nos. 7,606,753, 8,768,814 and 8,781,938.

“Given the high invalidation rate of patents on Section 101 grounds based on the Supreme Court ruling of Alice v. CLS Bank Int’l and Mayo Collaborative Services v. Prometheus Labs, we are very excited about this approval,” commented Nico R. Willis, CEO of NetWorth Services.  “We believe that the issuance of this patent, post the Supreme Court Ruling, reinforces the value of NetWorth’s patent portfolio.”

NetWorth Services, Inc. (NWS) NetWorth Services, Inc. (NWS) is an established FinTech company offering a suite of SaaS cognitive-based applications. The company is headquartered in Phoenix, AZ, with a satellite office in Philadelphia, PA. Its flagship product, Netbasis, is an award-winning application that quickly and accurately determines the adjusted cost basis for securities. NetWorth Services offers a suite of financial solutions that have been adopted by many leading financial institutions, transfer agencies, tax preparation software companies, accounting firms, money managers, government agencies, Fortune 500 companies, universities, endowments and individual investors. For more information: www.networthservices.com.

Netbasis, the flagship product of NetWorth Services, quickly and accurately determines the adjusted cost basis of virtually any security traded in the U.S. as far back as 1925. The vast Netbasis database of historical pricing and corporate actions allows for accurate cost basis calculations in seconds ― even when securities have long and complicated histories of mergers, spin-offs and stock splits. Netbasis enables users to capture and track lot shares acquired under myriad circumstances, including reinvestment, employee stock option and other stock plans, voluntary cash purchases, transfer of ownership, cash or stock dividends, and corporate events.   www.netbasis.com

For additional company information, including cost basis licensing information, please contact Marisa Diaz 602-222-6380 [email protected].