On December 15, 2014, Mr. Edward M. Karr submitted his resignation as an independent director of the Board of Directors (the “Board”) of Spherix Incorporated (“Spherix” or the “Company”), effective immediately. Mr. Karr's decision to resign from the Board was not the result of any dispute or disagreement with the Company. Prior to his resignation, Mr. Karr was a member of the Board’s Audit, Compensation, Nominating and Litigation Committees. Effective as of his resignation, Mr. Karr is no longer a member of the Board or any of its committees.
Furthermore, it is hereby ORDERED that the following schedule of deadlines is in effect until further order of this Court: 6 Weeks After Scheduling Conference Comply with P.R. 3-3 & 3-4 (Invalidity Contentions)
3 Weeks After Scheduling Conference *File Proposed Protective Order and Comply with Paragraphs 1 & 3 of the Discovery Order (Initial and Additional Disclosures)
The Proposed Protective Order shall be filed as a separate motion with the caption indicating whether or not the proposed order is opposed in any part.
2 Weeks After Scheduling Conference *File Proposed Docket Control Order and Proposed Discovery Order
The Proposed Docket Control Order and Proposed Discovery Order shall be filed as separate motions with the caption indicating whether or not the proposed order is opposed in any part.
1 Week After Scheduling Conference Join Additional Parties
3 Days After Scheduling Conference *File Notice of Mediator
2 Weeks Before Scheduling Conference Comply with P.R. 3-1 & 3-2 (Infringement Contentions)
Sentiment: Strong Buy
This case is set for a scheduling conference in Marshall, Texas on January 20, 2015 at 1:30 p.m. before the Honorable Rodney Gilstrap and the Honorable Roy Payne. The purpose of the scheduling conference will be to assign a claim construction hearing date and a trial setting. The parties shall be prepared to inform the Court whether they will consent to trial before the Magistrate Judge.
The parties shall prepare and submit a proposed docket control order, a proposed discovery order and a proposed protective order, within the time periods contained in the schedule set forth hereinafter.1 These orders shall be guided by the sample docket control, discovery, and protective orders for patent cases, which can be found on the Court’s website. The sample orders include provisions that require input from the parties. If the parties are unable to reach agreement on these provisions, then the parties shall submit to the Court their competing proposals along with a summary of their disagreements in a single joint submission.
1 Timely submission of the parties’ proposed docket control order, proposed discovery order and proposed protective order will be viewed by the Court as complying with the conference requirement of Rule 26(f).
The sample orders include provisions that are mandatory and are not subject to change without showing good cause. Good cause shall not be considered to be met simply by an indication of the parties’ agreement. Should either party believe good cause can be shown to alter an otherwise mandatory provision, then such party shall file a separate motion to alter the provision after the parties have filed the proposed docket control and discovery orders with the mandatory provisions intact as previously required above.
Sentiment: Strong Buy
It is now a waiting game, perhaps there is nothing for him to do during this litigation period. Could also be cost cutting measures to see Spherix through this time.
Maybe he favors the abolishment of NONDISCLSURE AGREEMENTS-- I bet he was FORCED OUT! And I wonder why there will be no replacement? Is SPHERIX (the Company) dysfunctional? Are they falling apart at the seems? This 100% is time where Anthony should speak! Or is there a Nondisclosure agreement for this too?
Since Mr. Karr comes from an investment company, he would not be an asset for the company's operations (litigation). He might have been sent to the board originally because his company might have invested heavily. maybe they are out now and his job is done. never know. As long as we have some lawyers and IP experts on the board, i am confident.
Ugh!! I hear you fugitive...maybe he was a stick in the mud and they wanted rid of him, that's one theory...but what if he was the good guy saying he won't stand by and watch something happen that is "questionable" ...or he knows something is up and don't want to be a part of it...this is a high stakes poker game with massive players...
I know one thing...I'm treading lightly here...I was really bullish until that was released and was gonna buy this am but I'm holding off to see what happens...GLTA...I hope we find out that it's really a non event but getting meaningful info out of this company with all of the legal restrictions is tough...
Not sure what to make of it. Things are going great as far as ongoing litigation. Hayes could of just pushed him out the door because they have a different perspective on the direction the company should go in. His bio looks like he works out of the country. More questions that need answers.
Sentiment: Strong Buy
Let's use some logic. He was the new incoming director of the BOD and then there was dilution. Perhaps he favors more dilution. It all depends on ones perception.
Just saying. It is also signed by mr. Hayes on the 19 th. Im not sure how much we should read into it.
look at the top of the filing, they made it on the 15th which was Monday...they sure are good at timing their filings and press releases...(not)....I was gonna add more down here for the next pop but I'm holding off and may sell some...something doesn't smell right about the head of the BOD resigning with so much on the table...
It could mean that he is moving on for other reasons but we are sitting here waiting for the huge announcement about Markmans and settlements and I find out yesterday through IR that the will most likely never get a news flash about settlements (what really spikes SP) as every one will have a NDA attached and then who knows how long they have to pay the first payment...with compufill....3 quarters have gone by and no money after an announcement of settlement other than $2,000 (why even waste the paper to report $2,000)....just getting nervous that's all...I got burned bad last time there was a resignation....
I think they all say that....they don't want to create panic so they sugar coat whatever the real reason is...who knows, except them.... the real reason but it still makes me wonder...I'm very gunshy to this because of what bit me last time in May....I could not believe that it spiked to $4.... I jumped in around 3.50 at close and within hours I had lost almost half of my investment and it has been a crazy ride for 6 months since then...
Per the 8K, his decision to resign was NOT based on any disagreements, or disputes.
That pretty much settles that, unless they are lying of course.
Anyone care to speculate why the head of the Board of Directors would resign....I'm not trying to create fear here but I distinctly remember that when I bought Spherix back in May when it spiked to $4 Harvey Kesner had resigned as CEO and THEN THEY MADE THAT SHELF OFFERING that sent my 3.50 shares to $2 literally OVERNIGHT...OUCH...I sure hope this isn't the pattern and we have a surprise in our future..... and another thing....It was filed on the 15th of Dec and nobody around here either knew about it or talked about it....any ideas?....
Yes I am referring to Spherix reply brief. It would not take 3 months for the judge to rule on the motion. Something else is in play here IMO
Sentiment: Strong Buy