Spherix Announces Economic Interest Acquired in New Patent Portfolio
Spherix and Equitable IP Acquire Rights to Monetize 112 New Patents
NEW YORK, April 19, 2017
NEW YORK, April 19, 2017 /PRNewswire/ — Spherix Incorporated (Nasdaq: SPEX) an intellectual property development company committed to the fostering of technology and monetization of intellectual property, today announced that it has acquired an economic interest in a new patent portfolio that is largely unlicensed to any third party.
Spherix and its partner Equitable IP Corporation have acquired an economic interest and the right to monetize a valuable portfolio in the fiber optic technology space as part of their ongoing patent monetization efforts. The newly acquired portfolio consists of approximately 112 patents and is largely unlicensed.
Anthony Hayes, Chief Executive Officer of Spherix, stated, “By working with Equitable IP Corporation, we’ve expanded the number of Equitable’s assets that can be monetized to now over 400 patents. The addition of these new patents to Equitable’s portfolio increases our potential revenue generation. This is part of our continued efforts to increase value for our shareholders.”
Spherix Incorporated was launched in 1967 as a scientific research company. Spherix is committed to advancing innovation by active participation in the patent market. Spherix draws on portfolios of pioneering technology patents to partner with and support product innovation.
Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the Securities and Exchange Commission (the “SEC”), not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
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SOURCE Spherix Incorporated