Maxxon Reports Status of Safety Syringe, SEC Civil Action

Maxxon has announced the current status of the Maxxon Safety Syringe and the results to date of the SEC civil action against the company.

Design changes to Maxxon's Safety Syringe have been approved and transmitted to the patent attorneys to incorporate in the existing patent as an amendment or a "continuation in part." All of the claims in the patent have been approved.

Maxxon received official notification from the U.S. Patent Office that the patent on its latest design, "The Genie," was issued on Jan. 25. Maxxon's 3 cc safety syringe, presently in development, is designed as a single-handed, vacuum-operated safety syringe that retracts the used needle into the syringe after use.

In December 2002, the SEC filed a civil action against Maxxon and Maxxon President Gifford Mabie. Maxxon and Mabie have filed post-trial motions asking the court to grant judgment as a matter of law, or, in the alternative, for a new trial. Post-trial motions are set for oral argument on Feb. 17. The SEC has drastically reduced the amount of money damages they are seeking from Mabie and are no longer seeking money damages from Maxxon.