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Hope we move soon getting board!
I hope we see a nice green day.
Do you think it will be a good report?
Lol I wish I would have bought .07 cents we at .21 with a green day ahead of us IMO
NEWS!
I think something is in the works another million shares sold today
Scott trade won't let me buy I wish it would
83,500 sold at .0001 and 16,500 sold at .0002
Buys still happening we should hear something soon. IMO
News!!
Surna Featured in National Media; Fortune, TheStreet.com's Main Street, Report on the Company's Strategy
Surna Featured in National Media; Fortune, TheStreet.com's Main Street, Report on the Company's Strategy
BOULDER, CO--(Marketwired - Apr 11, 2014) - Surna Inc. (OTCQB: SRNA), a company that develops, acquires, produces and sells equipment for the legal marijuana industry with a focus on disruptive technology, today reported two national media organizations recently featured the Company in news stories from the April 3 ArcView Cannabis Industry Conference in Boston.
CNN's Fortune.com article states, "'This is the next gold rush,' says (Surna CEO) Bollich, in the midst of glad-handing potential customers. 'It's kind of like Internet gaming was when Zynga started, except this isn't a hits-driven business. People get tired of games, but I haven't seen many people who get tired of pot.'"
"Surna expects to eventually expand into other industries -- including broader agriculture and server farms -- and to move up from its OTC listing to the NYSE Amex. But, for now, it's working to gain traction in one of America's fastest-growing markets."
To read the complete article, see http://finance.fortune.cnn.com/2014/04/03/zynga-coder-marijuana-ceo/.
TheStreet.com's Main Street article reports, "'I see a lot of parallels in social gaming and cannabis,' Bollich said. 'When we launched Zynga, social gaming wasn't even an industry yet. Everyone was trying everything but there was nothing specific. The cannabis industry has the same feel to it. Everyone is trying to figure what they are going to do.'"
"The only difference this time is that Bollich knows exactly what to do next..."
Last month Surna merged with Safari Resource Group, a holding company for cannabis and other indoor agriculture climate control equipment intellectual property. Subsequently, it announced a definitive agreement to acquire Boulder-based Hydro Innovations which it plans to close in the second quarter of 2014. To read the complete article, see: http://www.mainstreet.com/article/smart-spending/technology/zynga-co-founder-launches-cannabis-cooling-system.
Surna provides highlights of, and links to, the above articles as a courtesy to our shareholders. The Company disclaims any responsibility or liability for the accuracy of, or opinions expressed in, these and all other media articles.
About Surna Inc.
Led by Tom Bollich, the visionary technologist who co-founded famed gaming company Zynga which ultimately rose to a $10 billion market valuation, Surna's mission is to acquire intellectual property and scalable operating companies in the nascent, legal marijuana industry with a focus on disruptive technology, equipment and related support services.
The Company represents a pure play on explosive growth in the cannabis industry, while being agnostic as to the escalating proliferation of regulated, commodity cannabis growers & sellers, winners or losers; its business model excludes the production or sale of marijuana. ArcView industry research projects the highly fragmented $2.3 billion US cannabis industry will increase over four-fold to $10.2 billion by 2018.
Safe Harbor Statement
This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results, new features or services, or management strategies) and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Our actual results, such as the Company's ability to finance, complete and consolidate acquisition of IP, assets and operating companies, could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company such as a result of various factors, including future economic, competitive, regulatory, and market conditions. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Investor Relations
Chuck Arnold
310-344-7073
Email Contact
At the Company
Tae Darnell
VP and General Counsel
(303) 993-5271
Email Contact
I'm long here, I was just wondering what happens May 1 when we are moved to OTC pink? Do you think we will fall hard
Hard to move up when they keep pushing it back down
It should raise it.
North American Palladium Provides Update on Second Tranche Offering
North American Palladium Provides Update on Second Tranche Offering
All figures are in Canadian dollars except where noted.
TORONTO, ONTARIO--(Marketwired - Apr 8, 2014) - North American Palladium Ltd. ("NAP" or the "Company") (TSX:PDL) (NYSEMKT:PAL) is pleased to provide an update on the proposed second tranche of its previously announced public offering (the "Offering") of 7.5% convertible unsecured subordinated debentures, including an amendment to the terms and expected closing schedule.
The Company has amended the terms of its previously announced proposed Offering. The amendments include, among other things, a change in the formula used to calculate the conversion price to a 3-day volume weighted average price ("VWAP") of the Common Shares on the Toronto Stock Exchange. The conversion price of the second tranche debentures will be C$0.4629 per share and the exercise price of the second tranche warrants will be C$0.5786 per share (both of which are subject to adjustment under certain circumstances); and acceleration of the anticipated closing date to on or around April 10, 2014.
The net proceeds from the Offering are expected to be used for expenditures at the Company's Lac des Iles mine, exploration, mining equipment and for other general corporate purposes.
The Company has filed a final base shelf prospectus, a final prospectus supplement and an amended term sheet with the securities regulatory authorities dated April 8, 2014 with a syndicate led by Edgecrest Capital Corporation and with Canaccord Genuity Corp. in Canada and a registration statement (including a base prospectus) and a final prospectus supplement with the U.S. Securities and Exchange Commission ("SEC") for the Offering. The Offering in Canada will be made only by the base shelf prospectus and the final prospectus supplement.
Before you invest, you should read the base shelf prospectus, the registration statement and the final prospectus supplement and other documents the Company has filed with the securities regulatory authorities in Canada and the SEC for more complete information about the Company and this Offering. You may get these documents for free by visiting SEDAR at www.sedar.com or EDGAR at www.sec.gov. Alternatively, the Company, or the lead agent will arrange to send you the offering documents if you so request by calling toll-free 1 (877) 257-7366.
The audit report included in the Company's Annual Report on Form 40-F ("40-F") contained an opinion from its independent registered public accounting firm, KPMG LLP, which included a "going concern" explanatory paragraph. The Company discusses this matter in Note 1 to the financial statements included in its 40-F. This press release does not represent any change or amendment to the Company's financial statements or its 40-F.
About North American Palladium
NAP is an established precious metals producer that has been operating its Lac des Iles mine ("LDI") located in Ontario, Canada since 1993. LDI is one of only two primary producers of palladium in the world, offering investors leverage to the price of palladium. The Company's shares trade on the NYSEMKT under the symbol PAL and on the TSX under the symbol PDL.
Cautionary Statement on Forward-Looking Information
Certain information contained in this news release constitutes 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. All statements other than statements of historical fact are forward-looking statements. The words 'will', 'expect', 'would', 'could', 'estimate' and similar expressions identify forward-looking statements. Forward-looking statements in this news release include, without limitation: information pertaining to the use of proceeds of the Offering, the anticipated closing of Tranche 2, and the ability to obtain the required approvals for the Offering. The Company cautions the reader that such forward looking statements involve known and unknown risk factors that may cause the actual results to be materially different from those expressed or implied by the forward-looking statements. Such risk factors include, but are not limited to: the risk that the Company may not be able to obtain sufficient financing to fund current capital needs, the risk that the Company will not be able to meet its financial obligations as they become due, and the possibility that the Company may not be able to obtain the necessary approvals. For more details on these and other risk factors see the Company's most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The factors and assumptions contained in this news release, which may prove to be incorrect, include, but are not limited to: that the Company will obtain the required approvals to complete the Offering. The forward-looking statements are not guarantees of future performance. There can be no assurance that the Offering will close when anticipated or at all, or that the terms will not change. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except as expressly required by law. Readers are cautioned not to put undue reliance on these forward-looking statements.
John Vincic
Investor Relations Advisor
416-360-7374
jvincic@nap.com
Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp)
Filed Pursuant to Rule 433
Registration No. 333-185656
April 8, 2014
Amended Final Term Sheet – up to $35,000,000 April 8, 2014
North American Palladium Ltd.
Up to $35,000,000
Best Efforts Shelf Offering
Convertible Debentures and Warrants
Amended Summary of Proposed Terms
The issuer has filed a final base shelf prospectus with the securities regulatory authorities in each of the Provinces of Canada and a registration statement (including a base shelf prospectus) with the U.S. Securities and Exchange Commission (the “ SEC ”) for the offering to which this amended communication relates. The issuer will also file a final prospectus supplement containing important information relating to the securities described in this document with the securities regulatory authorities in each of the Provinces of Canada and the SEC. Before you invest, you should read the base shelf prospectus, the registration statement and the final prospectus supplement and other documents the issuer has filed with the securities regulatory authorities in Canada and the SEC for more complete information about the issuer and this offering. No securities regulatory authority in Canada or the United States has expressed an opinion about these securities and it is an offence to claim otherwise. The final base shelf prospectus, and the final prospectus supplement once filed, constitute a public offering of securities only in those jurisdictions where they may lawfully be offered for sale and therein only by persons permitted to sell such securities. Information has been incorporated by reference in the final base shelf prospectus from documents filed with the securities commissions or similar regulatory authorities in Canada. You may get these documents for free by visiting SEDAR at www.sedar.com or EDGAR at www.sec.gov. Alternatively, the issuer, any agent or any dealer participating in the offering will arrange to send you the offering documents if you so request by calling toll-free 1.877.257.7366. A copy of the final base shelf prospectus, any amendments to the final base shelf prospectus and any applicable shelf prospectus supplement that has been filed, is required to be delivered with this document to persons in Canada.
This document does not provide full disclosure of all material facts relating to the securities offered. Investors should read the final base shelf prospectus, the registration statement, any amendment and any applicable shelf prospectus supplement for disclosure of those facts, especially risk factors relating to the securities offered, before making an investment decision.
This indicative term sheet is non-binding.
Issuer:
North American Palladium Ltd. (“ NAP ” or the “ Company ”).
Issue:
Shelf Prospectus Treasury Offering of Series 2 Convertible Debentures and Warrants (the “ Offering ”).
Amount:
Up to $35,000,000 of Series 2 Convertible Debentures.
Offering:
Cross-border offering of up to $35,000,000 in Series 2 Convertible Debentures (the “ Series 2 Debentures ”). Warrants representing the right to buy 25% of the number of common shares of the Company (“ Common Shares ”) that the Series 2 Debentures subscribed for are convertible into (excluding Common Shares issuable as interest or under the make-whole provisions) at an exercise price equal to 125% of the Series 2 conversion price) (the “ Warrants ”).
Use of Proceeds:
For the Company’s expenditures at its Lac des Iles mine, exploration, mining equipment and for other general corporate purposes, including ordinary course repayments under the Company’s US$60 million revolving operating credit facility (the “ Credit Facility ”) and payment of interest owing under the Company’s US$170 million term loan financing (the “ Brookfield Debts ”).
Convertible Debenture
and Warrant Terms:
1. Interest at 7.5% per annum, calculated and payable semi-annually. NAP will have the ability, subject to certain conditions, to pay interest in Common Shares at the then 5-day volume weighted average price of the Common Shares on the TSX (the “ 5-day VWAP ”).
2. The principal amount will be convertible at the holder’s option at any time into Common Shares at the 3-day VWAP on the trading day preceding the filing of the Shelf Supplement (the “Conversion Price ”) provided that the principal amount will not be convertible at the holder’s option if and to the extent that the holder and its affiliates would collectively hold more than 9.99% of the then issued and outstanding Common Shares. Accrued and unpaid interest would be paid on conversion, in cash or Common Shares at the then 5-day VWAP.
3. Maturity in 5 years from date of Closing. Mandatorily convertible, subject to certain conditions, at the Company’s option, into Common Shares at maturity, based on the 10-day VWAP ending on the second trading day prior to maturity, to a maximum of the Conversion Price.
4. On any conversion, the interest make-whole payment will be due, being the amount of unaccrued and unpaid interest that would have been paid if the Series 2 Debentures were held for five (5) years, reduced by 1% for each 1% that the 5-day VWAP at the time of conversion exceeds the Conversion Price (prorated for increments less than 1%, and subject to NAP’s ability to pay in Common Shares at the lower of the Closing Price the day before conversion or the 5-day VWAP at the time).
5. Subordinated to all existing bank debt and Brookfield Debts, as amended or replaced from time to time.
6. The Series 2 Debentures will be issued with a two-year Series 2 Warrant allowing the holder to purchase its pro rata share of 25% of the number of Common Shares that the Series 2 Debentures are convertible into (excluding Common Shares issuable as interest or under the make-whole provisions) at 125% of the Conversion Price (the “ Warrant Exercise Price ”). At any time commencing 18 months after their issuance, the Series 2 Warrants may be called on 30 days’ prior notice by NAP if the 1-day VWAP exceeds 150% of the Warrant Exercise Price for 10 consecutive trading days.
7. The Series 2 Warrants will not be exercisable if and to the extent that the result would be that the holder and its affiliates would collectively hold more than 9.99% of the issued and outstanding Common Shares.
8. The Conversion Price and Warrant Exercise Price will be adjusted to reflect any share splits, share consolidations or combinations, special dividends or other distributions, exchanges or changes of shares or other similar transactions. The Series 2 Debentures and Warrants will not contain any “ratchet”-based anti-dilution provisions.
2
9. The Series 2 Debentures will be redeemable for cash or mandatorily convertible into Common Shares by NAP at its option if the 1-day VWAP exceeds 150% of the applicable conversion price for 10 consecutive trading days, commencing 18 months following Closing.
10. No financial covenants.
11. Cross-acceleration to Credit Facility and Brookfield secured debt only.
12. The Company has applied to list the Common Shares issuable in connection with the Series 2 Debentures and the Warrants on the TSX and NYSE MKT, however, the Series 2 Debentures and the Warrants will not be listed.
13. 100% change of control repurchase offer at 102% of par.
14. Debentures or Warrants may be amended with written consent of the Company and holders of 2/3 of the then-outstanding applicable securities, or by 2/3 class or series vote at a meeting of holders called in accordance with the requirements of the Canada Business Corporations Act.
15. Company will indemnify holders for any Canadian withholding taxes.
16. Penalty interest provisions if in default. Penalties for other defaults, including late delivery of shares. Late payment charges apply.
Offering Procedure:
A shelf supplement (the “ Shelf Supplement ”) is expected to be filed on or about April 8, 2014 for the Series 2 Debentures and Warrants. Sales of securities will not be confirmed and offers to purchase securities will not be accepted until a prospectus supplement is filed in respect of the Offering.
Exclusivity:
Following the Closing, no further issuances of Common Shares or securities convertible into Common Shares for 90 days, except for issuance pursuant to acquisitions, JVs, outstanding contractual obligations, license or leasing arrangements, outstanding convertible securities, stock options or other employee or Board compensation, without the Agents’ prior consent, such consent not to be unreasonably withheld or delayed.
Commission:
4% Cash.
Conditions Precedent:
The Offering would be expected to be subject to, among others, the following conditions:
(i) TSX and NYSE MKT approval;
(ii) NAP Board approval;
(iii) Bank and Brookfield approval (if required), and entry into mutually satisfactory subordination agreements. No event of default that is continuing under either the Bank or Brookfield credit agreements;
3
(iv) No material adverse change prior to Closing; and
(v) Standard termination clauses including an overall market out and disaster out clause.
The Company may terminate the Offering and agency agreement if
(i) Binding commitments to purchase $30,000,000 of Series 2 Debentures are not able to close within seven (7) days of the date of the Shelf Supplement; or
(ii) Upon any material amendments to the terms described herein.
Closing:
Unless otherwise agreed, closing of the Offering is targeted for T + 2 or 3 days after filing of the Shelf Supplement (the “ Closing ”).
Thought we would be doing much better today, I hope tomorrow is a better day
Yes I think we should see a nice spike up berry soon
Thank you
This sucks I wonder what will happen to all sub penny stocks
http://www.reuters.com/article/2014/03/26/otcmarkets-reforms-idUSL1N0MN13N20140326
TGGI going to fly soon! Big runner $$$$
News around the corner time to buy!!!
GO FRTD
Fortitude Group, Inc. Provides Update on Special Share Issuance
ERIE, PA, Mar 21, 2014 (Marketwired via COMTEX) -- Fortitude Group, Inc. (OTC: FRTD) announced today the progress for the special share issuance of Affinity Mediaworks Corp. (OTCQB: AFFW).
As previously announced, 9,250,000 shares of Affinity Mediaworks Corp., which represents approximately 14% of the to-be-issued and outstanding stock of Affinity Mediaworks, are being issued as a special share issuance to bonafide shareholders of record of Fortitude Group, Inc. as of 6:00 pm on March 14, 2014. This issuance has been calculated for every 92 FRTD shares beneficially owned by a Fortitude shareholder. They shall be entitled to receive 1 new additional share of Affinity Mediaworks. Affinity Mediaworks is set to invest $4,000,000 for a 45% equity ownership in PRIMARQ in April 2014. Based on preliminary pro-forma numbers, while still a pre-revenue company, within 90-days of funding PRIMARQ is set to ramp up to over $200 million per year in revenue.
As of March 17, 2014, management of the Company has ordered its current NOBO (Non-Objecting Beneficial Owner) list from DTC as well as its most recent certified shareholders list from the company's transfer agent. The completion of the bonafide shareholders list should be completed by March 31, 2014. To help ensure bonafide shareholders of record do not miss out on this special share issuance, the Company is pleased to announce that beginning March 22, 2014, shareholders of the Company can go to http://www.FRTDIssuance.com and input their personal information which will include their name, address, phone number, number of shares beneficially owned as of March 14, 2014, purchase price and a required screenshot upload to verify the shareholders brokerage position.
The Board of Directors of Affinity Mediaworks Corp. have ratified and instructed the issuance of 9,250,000 shares of Affinity to the Company's transfer agent, to be issued in the name of Fortitude Group, Inc. and sent via overnight currier to Fortitude. Management of Fortitude expects to be in receipt of the certificate during the week of March 24, 2014. Upon receipt of the certificate, management of Fortitude will instruct Affinity's transfer agent to re-issue the certificate(s) to the bonafide shareholders of record of Fortitude. Certificates will be sent to bonafide shareholders of record of Fortitude no later than the second week of April, 2014.
The 9,250,000 shares of Affinity Mediaworks Corp. being distributed to Fortitude bonafide shareholders of record will carry registration rights and be registered in the Company's S-1(which will be filed with the SEC April 2014). The average timeline for an S-1 to be deemed effective is 90-days from the initial submission to the SEC.
Thomas J. Parilla, CEO of Fortitude stated, "Since announcing the special share issuance of AFFW stock to our shareholders, we have received multiple inquiries from shareholders. We have listened to these comments and hope this update will help bring clarity to how this transaction is being completed. Beginning March 22, 2014, our shareholders will be able to go to http://www.FRTDIssuance.com and gain access to valuable tools such as a FAQ, proposed valuations, contact information, message boards (to communicate with other shareholders) and access to forms from the transfer agents. Our commitment is to provide superior communication with our shareholders and address any question they may have during this process."
About
Fortitude Group, Inc. is a diversified company with investments in multiple sectors of the economy targeting joint ventures, wholly owned subsidiaries and/or majority/minority positions that cross various market segments with the goal of creating a quality company that builds intrinsic value for its shareholders.
Forward Looking Statements
This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such statements.
Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly revise any forward-looking statements.
Contact
Fortitude Group, Inc.
Investor Relations
Phone: 888-531-4931
Email: info@g3corp.net
Fortitude Group, Inc. Provides Update on Special Share Issuance
ERIE, PA, Mar 21, 2014 (Marketwired via COMTEX) -- Fortitude Group, Inc. (OTC: FRTD) announced today the progress for the special share issuance of Affinity Mediaworks Corp. (OTCQB: AFFW).
As previously announced, 9,250,000 shares of Affinity Mediaworks Corp., which represents approximately 14% of the to-be-issued and outstanding stock of Affinity Mediaworks, are being issued as a special share issuance to bonafide shareholders of record of Fortitude Group, Inc. as of 6:00 pm on March 14, 2014. This issuance has been calculated for every 92 FRTD shares beneficially owned by a Fortitude shareholder. They shall be entitled to receive 1 new additional share of Affinity Mediaworks. Affinity Mediaworks is set to invest $4,000,000 for a 45% equity ownership in PRIMARQ in April 2014. Based on preliminary pro-forma numbers, while still a pre-revenue company, within 90-days of funding PRIMARQ is set to ramp up to over $200 million per year in revenue.
As of March 17, 2014, management of the Company has ordered its current NOBO (Non-Objecting Beneficial Owner) list from DTC as well as its most recent certified shareholders list from the company's transfer agent. The completion of the bonafide shareholders list should be completed by March 31, 2014. To help ensure bonafide shareholders of record do not miss out on this special share issuance, the Company is pleased to announce that beginning March 22, 2014, shareholders of the Company can go to http://www.FRTDIssuance.com and input their personal information which will include their name, address, phone number, number of shares beneficially owned as of March 14, 2014, purchase price and a required screenshot upload to verify the shareholders brokerage position.
The Board of Directors of Affinity Mediaworks Corp. have ratified and instructed the issuance of 9,250,000 shares of Affinity to the Company's transfer agent, to be issued in the name of Fortitude Group, Inc. and sent via overnight currier to Fortitude. Management of Fortitude expects to be in receipt of the certificate during the week of March 24, 2014. Upon receipt of the certificate, management of Fortitude will instruct Affinity's transfer agent to re-issue the certificate(s) to the bonafide shareholders of record of Fortitude. Certificates will be sent to bonafide shareholders of record of Fortitude no later than the second week of April, 2014.
The 9,250,000 shares of Affinity Mediaworks Corp. being distributed to Fortitude bonafide shareholders of record will carry registration rights and be registered in the Company's S-1(which will be filed with the SEC April 2014). The average timeline for an S-1 to be deemed effective is 90-days from the initial submission to the SEC.
Thomas J. Parilla, CEO of Fortitude stated, "Since announcing the special share issuance of AFFW stock to our shareholders, we have received multiple inquiries from shareholders. We have listened to these comments and hope this update will help bring clarity to how this transaction is being completed. Beginning March 22, 2014, our shareholders will be able to go to http://www.FRTDIssuance.com and gain access to valuable tools such as a FAQ, proposed valuations, contact information, message boards (to communicate with other shareholders) and access to forms from the transfer agents. Our commitment is to provide superior communication with our shareholders and address any question they may have during this process."
About
Fortitude Group, Inc. is a diversified company with investments in multiple sectors of the economy targeting joint ventures, wholly owned subsidiaries and/or majority/minority positions that cross various market segments with the goal of creating a quality company that builds intrinsic value for its shareholders.
Forward Looking Statements
This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such statements.
Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly revise any forward-looking statements.
Contact
Fortitude Group, Inc.
Investor Relations
Phone: 888-531-4931
Email: info@g3corp.net
Just got in today hoping for a nice spike up very soon
Spherix Issues Corporate Update - Standard Essential and other Nortel Patents Acquired from Rockstar in December 2013 Recorde...
TYSONS CORNER, Va., March 31, 2014 /PRNewswire/ -- Spherix Incorporated (SPEX) -- an intellectual property development company committed to the fostering and monetization of intellectual property, announced today a corporate update disclosing the 101 patents and patent applications acquired in December from Rockstar Consortium (US) LP. The list of patents has been recorded at the U.S. Patent and Trademark Office. Several are considered "Standard Essential Patents."
A Standard Essential Patent is often defined as a patent that covers part or all of a technology standard set by a Standard Setting Organization. In the case of Spherix's patents, several have been asserted as Standard Essential to the Institute of Electrical and Electronics Engineers ("IEEE") and relate to the movement of data packets on a Virtual Local Area Network.
Courts have stated that patent holders who participated in the development of a standard are often bound to offer licenses to Standard Essential Patents on "fair, reasonable and non-discriminatory (FRAND)" terms. However, courts have also differed on the meaning of that requirement. Spherix is prepared to honor all FRAND obligations that originally applied to Nortel and any company that would like to discuss a FRAND license is asked to contact Spherix's Vice President of Licensing, Frank Reiner at freiner@spherix.com.
Spherix is also offering licenses to startup companies as part of Innovate21tm. Innovate21tm is an initiative of Spherix that offers startup companies licenses to Spherix patents in exchange for equity positions. Spherix hopes that these very valuable patents can help spur innovation and the development of more start up companies, as well as add value to Spherix shareholders through early investment.
Since the Nortel patents were acquired by Spherix, the portfolio has expanded. In February 2014, Spherix was notified that patent application number 12/459,465 issued as patent RE44,775 "VLAN Frame Format." In addition, Spherix recently received another "Notice of Allowance and Fees Due" from the U.S. Patent and Trademark Office for another application that will issue as a patent in the near future.
In addition, Spherix announces that its CEO has been named to the IAM Strategy 300 – The World's Leading IP Strategists, Intellectual Asset Management's (IAM) annual listing of those individuals identified by IAM as offering operating companies and other IP owners world-class advice on maximizing the value of their intellectual property.
Anthony Hayes, CEO stated "Spherix today is much stronger as a company than at anytime over the last year. We have not only added tremendous assets and staff to the company, but we have commenced several licensing campaigns that we believe will act as a platform for continued growth. As we continue to progress in our monetization efforts, we have disclosed the Nortel assets we own to better help the investment community understand our IP portfolio."
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, including the Prospectus filed under Rule 424B3 filed February 19, 2014 with the SEC. 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:
Investor Relations
Phone: (703) 992-9325
Email: info@spherix.com
Logo - http://photos.prnewswire.com/prnh/20131104/PH08853LOGO
SOURCE Spherix Incorporated
Thought we would be doing a little better then we are right now.
Oh come on that picture of him gets deleted! But he can post what ever he wants and it gets to stay!!!
Now that's funny because you know it is!!!
ROFLMFAOOOO!!!!!
This should silence LBD for a couple of days
Can't wait that was a great interview
Just stop your embarrassing yourself
Love it great post
Hoping we have a strong power hour
Can't wait to see how high we climb
How you doing? Nice to see a basher tomorrow we close green
#1 dose apple show you the new iPhone while it is being developed? That is all have a great weekend and try and enjoy life a little, also smiling does help
Out as well today good luck to the rest of u
I think they are done