NEW YORK, July 30, 2013 /PRNewswire/ -- North South Holdings Inc. ("North South") -- an intellectual property development company, today reported that its wholly owned subsidiary, CompuFill LLC, has entered into a settlement and license agreement with a leading technology company.
This is the first settlement and license agreement for the CompuFill portfolio since North South's acquisition of CompuFill in April 2013 and commencement of its licensing campaign. Ongoing infringement continues, and the CompuFill portfolio is currently being enforced against additional defendants.
The CompuFill patents, each in the "on-line pharmacy automated refill system" sector, trace priority back to October 1997.
Commenting on the announcement, Anthony Hayes, North South CEO, stated, "The value of having this suite of patents cannot be emphasized enough. Our team of patent monetization experts brought this opportunity to North South only a few short months ago and we have already started generating revenue. This is a great example of how North South is working to drive value for our investors."
About North South Holdings Inc.
North South Holdings Inc. was formed on November 9, 2012 to seek business opportunities in which to acquire patents from various entities and monetize those patents through sales, litigation or licensing. North South recently entered into an agreement to be acquired by Spherix Incorporated (NASDAQ: SPEX).
About Spherix Incorporated
Spherix Incorporated (NASDAQ: SPEX) was launched in 1967 as a scientific research company. Spherix presently offers a diversified commercialization platform for protected technologies. The company continues to work on life sciences and drug development and presently is exploring opportunities in nutritional supplement products relying on its D-Tagatose natural sweetener as a GRAS ingredient. 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. Through its recently announced acquisition of several hundred patents issued to Harris Corporation Spherix intends to expand its activities in wireless communications and telecommunication sectors including antenna technology, Wi-Fi, base station functionality, and cellular.
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 North South 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. Thus, actual results could be materially different. North South 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 North South Holdings Inc.|
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