BETHESDA, Md., Nov. 30, 2015 /PRNewswire/ -- Spherix Incorporated (Nasdaq: SPEX) an intellectual property development company committed to the fostering and monetization of intellectual property, today provided an update on the current and prospective initiatives designed to create shareholder value.
"With our first major licensing agreement reached, Spherix is positioned to move forward, unencumbered, with licensing and monetization efforts against a large list of potential licensees," commented Anthony Hayes, Chief Executive Officer of Spherix. "Based on published reports, the total addressable market of the potential future licensees exceeds $50 billion and Spherix will seek to secure fair and reasonable licensing rates of this remaining market. We are in possession of a positive Markman Order granted by the Eastern District of Texas court that is applicable to potential licensees, providing leverage and clarity in negotiations, and we believe the prior Nortel license agreements establish a good licensing history and reasonable royalty rates. We are excited about the opportunities in front of us. Moreover, efforts against V-Tech and Uniden continue unabated."
Management has been, and continues to, refine a list of companies that are potential licensees of the Spherix patents. This potential opportunity is significant and includes companies that provide product or services in the following categories:
- Service Provider Switch OEMs
- Service Provider Router OEMs
- Optical Network Equipment OEMs
- Internet Service Providers
- Other Network Equipment OEMs and Service Providers.
Mr. Hayes continued, "We have only begun to address the sizeable licensing and monetization opportunity. Recently, we were able to clear significant hurdles that were impacting our ability to successfully pursue monetization efforts. With this behind us, and with a favorable Markman Order on key patents, we are now able to move forward aggressively on the remaining opportunity."
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.
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.
SOURCE Spherix Incorporated