Breaking #Blockchain News: Spherix (NASDAQ: $SPEX) Completes Acquisition of Blockchain Media Platform, The Daily Bit
Company continues to expand footprint in blockchain and Cryptocurrency Sector
NEW YORK - March 27, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in Blockchain content with its Bitcoin and blockchain portals Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com and Blockchaininvestorideas.com reports on news from Spherix Incorporated (NASDAQ: SPEX). The Company announced today that it has completed its purchase of The Daily Bit LLC, a development stage media and education platform focused on the educating users on the blockchain and cryptocurrency space. The site also provides strategic insight and access to various cryptocurrency trading platforms. For more information please visit www.thedailybit.news.
Additionally, The Daily Bit offers a free custom-curated newsletter, that apprises users on the latest updates and events impacting the blockchain and cryptocurrencies sectors. The site also publishes interviews with leaders in the industry, which keep its audience at the forefront of this disruptive and innovative technology. Moving forward, The Daily Bit plans on expanding its platform to include simplified means of opening your own cryptocurrency wallet, informational videos and access to the expanding community within the blockchain ecosystem.
"Our investment in The Daily Bit provides our shareholders with another opportunity to participate in the growing blockchain and cryptocurrency space, while also being accretive to our recent DatChat acquisition," stated Mr. Anthony Hayes, CEO of Spherix. "As the Company expands into the blockchain space, The Daily Bit provides users with clear and easy to understand information about the technology and cryptocurrencies. This investment will seek to diversify our revenue base as we help incubate and grow a fantastic startup. This is a true win-win situation for the Company as we are currently targeting similarly veined acquisitions."
Mrs. Erica Amatori, Co-Founder of The Daily Bit, said, "The site was born out of the need to simplify blockchain for everyone. Ever since the Bitcoin boom, people have sought to participate in the sector's explosive growth. We've believe that we have created a centralized information hub where users can learn, interact and even invest in this emerging marketplace."
Additional information about the investment is available in the Form 8K, filed by Spherix with the Securities and Exchange Commission.
Co-Founder, Mr. Chris Hoyle, had this to say about the future, "We remain very optimistic about the motivations of builders in the space and the potential use cases for cryptocurrencies and blockchain. Our mission will be to provide clarity so that the right ideas can receive the public attention and level of understanding that they deserve."
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. Spherix has acquired over 100 patents from Rockstar Consortium Inc., and several hundred patents issued to Harris Corporation, covering a variety of methods and components involved in switching, routing, networking, optical and telecommunication sectors.
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 the Company 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, including without limitation those set forth in the Company's filings with the SEC, not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company 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.
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