Patent Monetization Strategy Now Includes Nine Litigation Programs as Spherix Continues to Identify Infringers of Its IP

BETHESDA, Md., July 29, 2014 /PRNewswire/ -- Spherix Incorporated (SPEX) -- an intellectual property development company committed to the fostering and monetization of intellectual property, today announced a summary of the Company's legal proceedings as they relate to monetization of the Company's intellectual property.  The legal proceedings demonstrate a strategy to assert multiple different patents in different technology areas.  Spherix aims to develop multiple licensing revenue sources, through both litigation and through partnering with those utilizing its intellectual property.

Anthony Hayes, Chief Executive Officer of Spherix, stated, "As part of our overall licensing program, Spherix has asserted multiple independent patent families in different technology fields.  A key component of the Company's strategy attempts to establish multiple revenue sources that function independently of each other.  By asserting different patent families in diverse technology fields, we hope to decrease the risks associated with a monetization strategy that relies solely upon the assertion of the same patents over and over.  Currently, our monetization strategy seeks to establish licensing revenue in the areas of cell phone location, cordless phones, the provision of Internet services, and routing and switching equipment.  These four (4) licensing programs are based on four different groups of patents, each group including independent patent families.  Within most of the different programs, we are asserting litigation against multiple defendants.  This monetization strategy diversifies the Company's opportunities for revenues in four distinct programs.

Frank Reiner, Vice President of Finance & Licensing for Spherix, stated, "We continue to identify infringes of our patents, which cover many areas of some of the largest technology fields in use today.  We foresee many opportunities to monetize these assets in the future."

Summary of Active Lawsuits:

Cordless Phone Technology

• On August 30, 2013, the Company initiated litigation against VTech in the United States District Court for the Northern District of Texas for infringement U.S. Patent Nos. 5,581,599; 5,752,195; 5,892,814; 6,614,899; and 6,965,614.  On May 22, 2014, the Court entered a Scheduling Order for the case.  The Markman hearing is currently set for October 2, 2014.
• On August 30, 2013, the Company initiated litigation against Uniden in the United States District Court for the Northern District of Texas for infringement of U.S. Patent Nos. 5,581,599; 5,752,195; 6,614,899; and 6,965,614.  On May 22, 2014, the Court entered a Scheduling Order for the case.  The Markman hearing is currently set for October 2, 2014.

           Cell Phone Location

• On August 1, 2013, the Company initiated litigation against T-Mobile Inc. in the United States District Court for the Middle District of Florida for infringement of U.S. Patent No. 5,719,584. On April 24, 2014, the Court transferred the case to the United States District Court for the Western District of Washington, which has not yet entered a Scheduling Order.
• On December 6, 2013, the Company initiated litigation against AT&T in the United States District Court for the Northern District of Texas for infringement of a U.S. Patent. No. 5,719,584.  On March 7, 2014, the Court entered a Scheduling Order for the case.

Routing & Switching Equipment

• On March 24, 2014, the Company initiated litigation against Cisco Systems in the United States District Court for the District of Delaware for infringement of U.S. Patent Nos. RE40467; 6,697,325; 6,578,086; 6,222,848; 6,130,877; 5,970,125; 6,807,174; 7,397,763: 7,664,123; 7,385,998; and 8,607,323. On July 8, 2014, Spherix filed an Amended Complaint to reflect that certain of the patents asserted were assigned to Spherix's wholly-owned subsidiary NNPT, LLC, based in Longview, Texas. By the Amended Complaint, NNPT, LLC was added as a co-plaintiff with Spherix.  Cisco's deadline to respond to the Amended Complaint, subject to change by agreement of the parties or by Order of the Court, currently is August 5, 2014.
• On May 2, 2014, the Company initiated litigation against Juniper Networks in the United States District Court for the District of Delaware for infringement of U.S. Patent Nos. RE40467; 6,578,086; 6,130,877; 7,664,123; and 8,607,323. On July 8, 2014, Spherix filed an Amended Complaint to reflect that certain of the patents asserted were assigned to Spherix's wholly-owned subsidiary NNPT, LLC, based in Longview, Texas.  By the Amended Complaint, NNPT, LLC was added as a co-plaintiff with Spherix.  Juniper's deadline to respond to the Amended Complaint, subject to change by agreement of the parties or by Order of the Court, currently is August 8, 2014.
• On June 9, 2014, Spherix initiated litigation against Huawei in the United States District Court for the Eastern District of Texas, for infringement of United States Patent Nos. 6,578,086; 6,130,877; 6,697,325; 7,664,123; and 8,607,323.  Huawei has not yet answered the Complaint.  Huawei's deadline to respond to the Complaint, subject to approval by the Court, currently is September 8, 2014.

Internet Service Providers

• On June 11, 2014, the Company initiated litigation against Verizon in the United States District Court for the Eastern District of Virginia for infringement of U.S. Patent Nos. 6,507,648; 6,882,800; 6,980,564; and 8,166,533. On July 2, 2014, Spherix filed an Amended Complaint in the case in which it added allegations of infringement of an additional U.S. patent 7,478,167.  Verizon's deadline to respond to the Amended Complaint, subject to change by agreement of the parties or by Order of the Court, currently is August 15, 2014.

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.

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.

Investor Relations Contact:
Hayden IR
Brett Mass
Phone: (646) 536-7331
Email: [email protected]
www.haydenir.com

Spherix Contact:
Phone: (703) 992-9325
Email: [email protected]
www.spherix.com

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