SWMBRD Sports Inc (CSE:SWIM) has announced the successful registration of a UK design patent for the company’s proprietary aquatic sports board.
The UK design registration is in addition to SWMBRD’s existing intellectual property portfolio, covering multiple embodiments of its unique swimboard design and associated accessories, as disclosed in the company’s final long-form prospectus.
“We are very pleased that the important UK Design Registration has been granted,” commented Justin Schroenn, president and CEO of SWMBRD Sports in a statement. "Revenue in the UK Aquatic Sports Equipment segment amounts to US$110.8 million in 2022. The market is expected to grow annually by 4.29% CAGR 2022-2027."
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Schroenn added: "The award of this UK design patent strengthens SWMBRD’s position as developer of its proprietary swimboard and serves as a strong foundation for future SWMBRD products, accessories, events, media and lifestyle products.
"SWMBRD’s expanding intellectual property portfolio continues to be a key strategic component of the company’s growth. While SWMBRD does not divulge jurisdictions in which intellectual property applications are still pending, the company is pleased to keep investors apprised of important jurisdictions in which applications have been successful, such as the United Kingdom Design Registration now granted.”
The company noted that UK residents are an important target market for SWMBRD. The current UK population is 68,736,857 as of 23 November 2022, based on Worldometer elaboration of the latest United Nations data.
Not only are UK residents a major component of summertime tourism in vacation destinations throughout Mediterranean coastline from Spain to Turkey, but the company believes SWMBRD’s versatility brings into orbit the spectacular coastline (both still water and surf), lakes and rivers of England, Scotland, Wales and Ireland as well.
Of significance also, it added, is the fact that many cars and residences in the UK tend to be compact. Consequently, management believes that SWMBRD’s small size (3’2”), lightness (8.7 pounds), easy carrying ergonomics and unique versatility of use, may make it a perfect aquatic sports product for the UK consumer.
SWMBRD Sports is a Vancouver, BC-based sporting goods company looking to enable millions to rethink their way of recreating in the water.
By offering an aquatic board sport that is versatile, easy to use, easy to store, and which can be used by all ages and body types in any body of water (rivers, oceans, lakes and pools), the company believes SWMBRD and the sport of swimboarding has the potential to become one of the most popular board sports in the world, and a great aquatic brand.
It has refined manufacturing techniques most relevant to the SWMBRD and has successfully produced demonstration fleets of fully functioning boards, which have been in rigorous real-world use in Hawaii, Canada and Greece.
The company is now preparing to commence large-scale mass production under an OEM agreement with Tahe Sports, Vannes, France - the preeminent board sport manufacturer in Europe.
Contact the author at jon.hopkins@proactiveinvestors.com