Spherix (SPEX) Signs New Agreement with Vapir Enterprises

November 7, 2016 8:05 AM EST

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Spherix Incorporated (Nasdaq: SPEX) announced that its IP consulting subsidiary has signed a Patent Monetization and Consulting Agreement with Vapir Enterprises, Inc., (ticker: VAPI), a patent rich company in the $3.5B vapor space. Under the Agreement, Spherix will conduct a detailed review of Vapir's patent portfolio and develop a monetization program for Vapir.

Hamid Emarlou, founder and CEO of Vapir Enterprises, Inc. stated, "Vapir Enterprises, Inc. invents, develops, and manufactures revolutionary, state-of-the-art and user-friendly vaporization devices. We believe that our scientific background may give us insight that may allow us to create a cutting-edge convection system that may be far superior to other vaporizers on the market. In utilizing our various issued and pending patents, our vaporizers extract active ingredients from source material by a unique and proprietary process, delivering high quality natural vapor for the best user experience. We have sold hundreds of thousands of units globally since its initial launch in 2006. We are excited to work with Spherix to explore the value of our intellectual property which may allow us, if market conditions allow, to better serve the interests of our stockholders."

Anthony Hayes, Chief Executive Officer of Spherix, stated, "Spherix recently announced its consulting and monetization program and we are proud to have signed our first client so quickly. The speed at which we have begun to execute on this program represents our commitment to work diligently to bring value to our shareholders. The vapor industry is a rapidly growing multibillion dollar market and Vapir wisely invested the time and energy to protect its rights by patenting its science. We look forward to investigating their portfolio and helping them achieve value."

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