NEW YORK, May 24, 2016 /PRNewswire/ -- Spherix Incorporated
(NASDAQ: SPEX) – an intellectual property development company
committed to the fostering and monetization of intellectual
property, today announced a second licensing agreement with RPX
Corporation (NASDAQ: RPXC).
Under the new agreement, Spherix receives a cash payment and
return of all of the Series H preferred stock of Spherix presently
held by RPX, representing the entire class of Series H shares
outstanding. In exchange, Spherix granted RPX a portfolio license,
which RPX can then use to grant sublicenses to its
clients.
In unrelated matters, Spherix's litigations against L3
Communications Inc., TW Telecommunications Inc., Fairpoint
Communications Inc., and Uniden will continue.
Anthony Hayes, Chief Executive
Officer of Spherix, stated, "We are pleased to have reached this
second license agreement with RPX. We continue to seek
long-term, mutually beneficial license agreements that represent a
positive outcome for our shareholders."
About Spherix
Spherix is committed to advancing innovation by active
participation in all areas of the patent market. Spherix draws on
portfolios of pioneering technology patents to partner with and
support product innovation. Spherix has acquired over 100 patents
from Rockstar Consortium Inc., and several hundred patents issued
to Harris Corporation, covering a variety of methods and components
involved in switching, routing, networking, optical and telephone
technologies, as well as in the wireless communications and
telecommunication sectors.
Forward Looking Statements
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.
Contact:
Investor Relations Contact:
Hayden IR, LLC
Brett Mass
Phone: (646) 536-7331
Email: brett@haydenir.com
www.haydenir.com
Spherix Contact:
Phone: (703) 992-9325
Email: info@spherix.com
www.spherix.com
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SOURCE Spherix Incorporated