Spherix will not add any additional costs to its current operations as part of this strategic direction. Instead, we will leverage the considerable scale and talent that we have built at our organization into a fee for services based revenue stream that will augment our existing business. We hope to have new clients shortly.
The Company does not intend to invest in or finance any third party intellectual property. The new subsidiary will aim to provide strategic advice, legal and other back office support to the rapidly growing number of investors and small firms that seek to monetize their intellectual property. By capitalizing on the expertise Spherix has amassed in building a streamlined, cost efficient model, management will now be able to create meaningful value for both new clients and most important, our committed 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.
Logo - http://photos.prnewswire.com/prnh/20131104/PH08853LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/spherix-launches-new-patent-licensing-initiative-300347098.html
SOURCE Spherix Incorporated