Litigation Updates Concerning Unauthorized Use of Patented Technology: Spherix Analyst Brief Report Issued by BrokerBank Securities, Inc.
NEW YORK, March 12, 2015 /PRNewswire/ -- Spherix Inc. (NASDAQ: SPEX) based out of Bethesda, MD is an intellectual property development organization. Their primary focus is the monetization of intellectual property, through the partnering and acquisition of but not limited to patents and firms. In recent years Spherix has acquired over a hundred patents from Rockstar Consortium Inc. and Harris Corporation. The company hopes to expand its operations to include wireless communication and telecommunication sectors.
Spherix has climbed 7% over the past week closing at $0.99 a share this Monday. This has been fostered by a recent unsolicited proposal from Marathon Patent Group Inc. offering a stock-for-stock transaction, valuing the company at a 15% premium above market. This proposal was subsequently unanimously rejected by the board, and Anthony Hayes stating that:
Marathon's unsolicited proposal substantially undervalues Spherix and does not reflect the value of the Company's patent portfolio and its current business. We continue to execute our business plan and believe our assets put the company in its best position to be successful.
On March 4th, 2015 Spherix through an 8-K filing provided an update on its ongoing litigation concerning intellectual property rights and unauthorized use of its intellectual property against several firms including telecom giant Verizon.
A report including analysis of Spherix Inc. financials and market position can be viewed by clicking the link below. There is no cost obligation to view the analyst brief:
http://bit.ly/-SPEX-AnalystReport
This report was prepared for informational purposes only. Affiliated parties involved with producing and issuing this report have not been compensated by the profiled company in any form. A full disclaimer can be found by viewing the full analyst report.
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