Hayes is expected to pursue various options to monetize the existing patents of the company and also acquire more to add to the portfolio. He has a successful track record, and hopefully the efforts will lead to tangible results on the ground. What the company needs is licensing / settlement agreements which could give it regular and one-time inflows. That will improve the financials and strengthen the balance sheet. It will improve the outlook and lead to long term support of the investors. The backing of Hudson Bay Capital is definitely reassuring, and the experience of Hayes can help the company successfully monetize its patents. Some more information may be required to understand that the strategies are helping it progress towards efficient monetization. Meanwhile, according to a press release, the company continues to increase its efforts at pursuing monetization strategies for its patent portfolios. As per a recent press release, the CEO confirmed that the company is progressing towards full monetization of the suite of 230 patents. It had recently filed complaints against T-Mobile claiming infringement of Patent No. '584 entitled "System and Method for Determining the Geolocation of a Transmitter". It is also identifying other companies infringing its rights for this patent and also for the other patents which it acquired in its merger with North South Holdings and those acquired through the Rockstar Consortium deal. It recently filed claims in respect of its patents against Uniden and Vtech which are manufacturers of cordless telephony. Vtech has revenues of $2 billion and these two companies together control 75% of the cordless phone market. The Law firm Skiermont Puckett LLP is leading the monetization efforts related to this patent portfolio. The firm will also help identify other parties infringing Spherix's patents. Hayes also mentioned that Spherix plans to acquire more patents / portfolios which could compliment its existing IPR portfolio.