{"id":4765,"date":"2014-06-13T13:11:55","date_gmt":"2014-06-13T13:11:55","guid":{"rendered":"\/?p=4765"},"modified":"2014-06-13T13:21:52","modified_gmt":"2014-06-13T13:21:52","slug":"spherix-inc-nasdaqspex-files-yet-another-patent-infringement-lawsuit","status":"publish","type":"post","link":"\/articles\/spherix-inc-nasdaqspex-files-yet-another-patent-infringement-lawsuit\/","title":{"rendered":"Spherix Inc (NASDAQ:SPEX) Files Yet Another Patent Infringement Lawsuit"},"content":{"rendered":"<p> <img loading=\"lazy\" decoding=\"async\" style=\"float: right; margin: 3px;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/0SPEX.png\" border=\"0\" alt=\"0SPEX.png\" title=\"0SPEX.png\" width=\"400\" height=\"178\" \/>Spherix Inc (NASDAQ:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SPEX\">SPEX<\/a>)&#8217;s performance isn&#8217;t very typical for a NASDAQ stock. On May 27, for example, the ticker jumped up and almost doubled its value. Just two days later, it crashed and burned through 40% of its market cap. <\/p>\n<p>In fact, in many ways, the chart on the right is pretty similar to the ones drawn by some of the more volatile O<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=T\">T<\/a>C tickers.<\/p>\n<p>Unfortunately, this can also be said about the revenues section of <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SPEX\">SPEX<\/a><\/strong>&#8216;s latest 10-Q. Here&#8217;s what the company recorded at the end of the first quarter of 2014: <\/p>\n<ul>\n<li>cash: $4.5 million<\/li>\n<li>current assets: $4.6 million<\/li>\n<li>current liabilities: $1.1 million<\/li>\n<li>quarterly revenues: $4 thousand<\/li>\n<li>quarterly net loss: $7.9 million<\/li>\n<\/ul>\n<p>It&#8217;s pretty clear that <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SPEX\">SPEX<\/a><\/strong> haven&#8217;t yet succeeded in getting their patent monetization business off the ground. We should note, however, that they&#8217;re trying hard.<\/p>\n<p><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=T\">T<\/a>hey have filed patent infringement complaints against companies such as A<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=T\">T<\/a>&amp;<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=T\">T<\/a> Inc. (NYSE:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=T\">T<\/a>), CISCO Systems, <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=T\">T<\/a>-Mobile, etc. Yesterday, they announced a lawsuit against Verizon Communications Inc. (NYSE:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=VZ\">VZ<\/a>) which, Anthony Hayes (<strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SPEX\">SPEX<\/a><\/strong>&#8216;s CEO) said, could result in an entirely new line of potential licensing revenues.<\/p>\n<p>Mr. Hayes&#8217; words certainly sounded exciting enough, but apparently, the stock wasn&#8217;t ready to make a double-digit jump &#8211; something it was more than willing to do at the end of May. Still, <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SPEX\">SPEX<\/a><\/strong> gained 3.2% and finished the day with a price of $1.93 per share.<\/p>\n<p><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=T\">T<\/a>here&#8217;s little doubt in anyone&#8217;s mind that <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SPEX\">SPEX<\/a><\/strong>&#8216;s future is dependent on the outcome of the lawsuits. Unfortunately, it could take a while until the legal proceedings come to a conclusion and in the meantime, the stock is taking a beating.<\/p>\n<p>If you have a look through the one-year chart, you&#8217;ll see that back in August 2013, <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SPEX\">SPEX<\/a><\/strong> reached its 52-week high of <strong>$27.86 per share<\/strong>. <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=T\">T<\/a>en months later, it&#8217;s hovering around <strong>93% below these levels<\/strong>. On May 29, a law firm called Glancy Binkow &amp; Goldberg LLP initiated an investigation against <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SPEX\">SPEX<\/a>&#8216;s Board of Directors to see if there aren&#8217;t any actions that could have contributed to the massive drop.<\/p>\n<p>Glancy Binkow &amp; Goldberg&#8217;s announcement resulted in a 40% crash and if the outcome of the investigation is unfavorable, <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SPEX\">SPEX<\/a><\/strong> might take another dive.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" style=\"float: left; margin: 3px;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/SPEX_logo.png\" border=\"0\" alt=\"SPEX_logo.png\" title=\"SPEX_logo.png\" width=\"150\" height=\"33\" \/><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=T\">T<\/a>here&#8217;s another problem. Because of the lack of a steady stream of revenues,<strong> <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SPEX\">SPEX<\/a><\/strong> are forced to raise money through the sale of equity. Recently, they completed a $20 million private placement as a part of which some investors received a total of 10 million preferred shares. <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=T\">T<\/a>he preferred shares can be turned into common ones at a rate of <em>one-for-one<\/em> which could cause some severe dilution.<\/p>\n<p>Between March and May, the O\/S count grew by around<strong> 4.4 million<\/strong> and in April,<strong> <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SPEX\">SPEX<\/a><\/strong> increased the number of authorized shares which could suggest that the stock issuance is not over yet. Bearing this in mind is, we reckon, absolutely crucial.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Spherix Inc (NASDAQ:SPEX)&#8217;s performance isn&#8217;t very typical for a NASDAQ stock. On May 27, for example, the ticker jumped up and almost doubled its value. Just two days later, it crashed and burned through&#46;&#46;&#46;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1425,761,763],"class_list":["post-4765","post","type-post","status-publish","format-standard","hentry","category-news","tag-spex","tag-t","tag-vz"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4765","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=4765"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4765\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=4765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=4765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=4765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}