Spherix Completes $500,000 Financing, Posts IR Presentation.
Long-Term Horizon, Long Only, Biotech, Special Situations
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Roland Rick Perry is the Managing Director of Institutional Analyst Inc. (IA), an independent investment research firm, as well as editor of nine industry-specific investment reviews.
One of the top one-mile runners in history to come out of the Chicago area, he attended Southern Illinois University, Loyola of Chicago and UCLA on track scholarships, achieving an Olympic Qualifying time in the late 70's, right in time for the Olympic boycott in 1980.
Roland began his career on the floor of the Chicago Board Options Exchange (CBOE) as a runner in 1974 while in high school. He later worked for a number of well-respected investment banking firms such as Merrill Lynch, Paine Webber, AG Becker Paribas and Drexel Burnham Lambert, prior to launching his own firm in 1995.
He is the founder of the Chicago Stock & Bond Club, Morgan & Weed and Blank Check Capital Corp., which participated in Wall Street’s first “Ultra Mini™” blank check (SPAC) offering, as President of Life Sciences Opportunities Inc., which successfully merged with Beverly Hills-based “Dr Tattoff” the leading Tattoo removal company in the U.S., with over 250,000 treatments on more than 25,000 patients.
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IA is a leading publisher of news, perspective, and market intelligence reports on the equity markets. Working with publicly traded corporations, the firm works with small-cap companies which have products and/or services which can best be described as "best of breed." To align itself with shareholders, IA typically seeks to have 90% of its retainer, represented by an equity stake in their client companies.
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Restaurants (on hold)
Blockchain (of course, but with major trepidation)
BDC's and Private Equity
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TYSONS CORNER, VA--(Marketwired - Jul 1, 2013) - Spherix Incorporated (NASDAQ: SPEX) an intellectual property development and life sciences company, today announced that an investor has privately purchased 100,000 shares at $5.00 per share. The shares of Spherix Series E Convertible Preferred Stock sold are convertible into common stock on a share for share basis. Total proceeds to the company was $500,000.
"Spherix intends to use the proceeds for general working capital and expenses leading up to the acquisition of important patents that will advance the company's plan to acquire patent protected intellectual property to develop and license," said Harvey Kesner, Spherix' CEO. "Spherix is working to complete acquisitions expected to add hundreds of valuable patents under our ownership which include wireless communications, antennae technology and pharmaceutical distribution patents. We recently signed a further letter of intent with a major private patent ownership collaboration covering additional areas of telephony and telecommunications technology which we expect to close in the third quarter," continued Mr. Kesner.
Spherix previously announced an agreement to acquire 222 patents from North South Holdings, Inc. principally developed by inventors at Harris Corp., a 118 year old pioneer in wireless communications and equipment and a $6 billion defense contractor. The Harris portfolio has applicability in law enforcement communications, military and homeland security, satellite communications, portable electronics, Wi-Fi, microwave and cellular transmission, and solar concentrator technologies. Additional North South patents cover automated pharmacy ordering practices. The closing of the North South transaction is awaiting regulatory approval which is expected within 60 days.
IR Presentation posted on 8K.
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