Dallas, Texas 04/01/2014 (FINANCIALSTRENDS) – Spherix Inc(NASDAQ:SPEX) has since lost some ground on the stock market, largely due to a dud volume-based transactions at the end of trading session. The company has reported lesser on the stock prices by 12.45% , closing at $3.00 per share. The volumes trading were at 1.31 million shares.
Voluminous moves driven by patent talk-out
Spherix Inc (NASDAQ:SPEX) has been tracking certain technology moves by Cisco in the recent weeks. Apparently, the company does have some real evidence to sue Cisco on certain patent violations.
Cisco is one of the pioneering and largest of the hardware and network communications component makers, which undisputedly holds one of the largest patent portfolio for the technologies and platforms it deals in.
By its own standards, Spherix too holds its own on the patent pooling category thanks to some smart acquisitions; this technology company has successfully closed. One of the game-changing acquisitions have been taking over of Rockstar Consortium US. Simultaneously SPEX has been successful in acquiring patents held by companies such as Harris Corporation, leading to a veritable collection of powerful patents which Cisco, if it has not been careful may well have tread upon.
Until recently, the main line of patents it held was in network communications. However, recently its acquiring of North South has meant that it now holds valuable intellectual property ownership of technologies in the wireless segment as well. Therefore, a number of patents related to WiFi as well as base station function features are now part of Spherix arsenal.
Spherix Inc (NASDAQ:SPEX) holds a market cap of $13,95 million and EPS of -13.45. Outstanding shares remain at 4.67million. It annual trading rates varies between high of $27.88 and low of $2.90. It infra-day trading rates have been between $2.90 and 3.04.
Spherix Inc (NASDAQ:SPEX) has reportedly directed action against Cisco’s parley into technologies for which it currently holds patent cover.