NEW YORK, Nov. 7, 2016 /PRNewswire/ -- Spherix Incorporated
(Nasdaq: SPEX) an intellectual property development company
committed to the fostering of technology and monetization of
intellectual property, today announced that its IP consulting
subsidiary has signed a Patent Monetization and Consulting
Agreement (the "Agreement) with Vapir Enterprises, Inc., (ticker:
VAPI), a patent rich company in the $3.5B vapor space. Under the Agreement,
Spherix will conduct a detailed review of Vapir's patent portfolio
and develop a monetization program for Vapir.
Hamid Emarlou, founder and CEO of
Vapir Enterprises, Inc. stated, "Vapir Enterprises, Inc. invents,
develops, and manufactures revolutionary, state-of-the-art and
user-friendly vaporization devices. We believe that our scientific
background may give us insight that may allow us to create a
cutting-edge convection system that may be far superior to other
vaporizers on the market. In utilizing our various issued and
pending patents, our vaporizers extract active ingredients from
source material by a unique and proprietary process, delivering
high quality natural vapor for the best user experience. We have
sold hundreds of thousands of units globally since its initial
launch in 2006. We are excited to work with Spherix to explore the
value of our intellectual property which may allow us, if market
conditions allow, to better serve the interests of our
stockholders."
Additional information about Vapir and its technology can be
found at www.vapir.com.
Anthony Hayes, Chief Executive
Officer of Spherix, stated, "Spherix recently announced its
consulting and monetization program and we are proud to have signed
our first client so quickly. The speed at which we have begun to
execute on this program represents our commitment to work
diligently to bring value to our shareholders. The vapor industry
is a rapidly growing multibillion dollar market and Vapir wisely
invested the time and energy to protect its rights by patenting its
science. We look forward to investigating their portfolio and
helping them achieve value."
About Spherix
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.
About Vapir
Vapir Enterprises, Inc.'s vaporizer products are intended to
integrate elite technology with sophisticated design. We believe
that our scientific background may give us the insight necessary to
create a cutting-edge convection system that gently massages the
active compounds from any herb, flower, or essential oil into a
delicious and healthy vapor cloud.
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:
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Investor
Relations:
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Hayden IR
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Brett Mass, Managing
Partner
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Phone: (646)
536-7331
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Email:
brett@haydenir.com
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www.haydenir.com
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Spherix:
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Phone: (703)
992-9325
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Email:
info@spherix.com
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www.spherix.com
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SOURCE Spherix Incorporated