Bankrupty Court to Hold Auction for IPIX Liquidation

Patents for 360-degree surveillance company up for grabs


Bidders are required to sign the Confidentiality Agreement (CA) prior to receiving the detailed Asset Information Package CD's, which will include copies of file wraps from the patent and trade offices of U.S. as well as foreign governments, plus other due diligence documentation. In total, there are over 17,000 pages of information in the Asset Information Package.

King believes the final sales tally will exceed IPIX's $5 million secured lien and expects to identify the highest bidders within a week of the October 23 deadline date, completing the sales and transferring the assets by the end of November of beginning of December.

All sales are subject to U.S. Bankruptcy Court approval.

Interested bidders may contact Stephen Karbelk or Meg Vavrick at Tranzon Fox at 703-539-8622 (office) or via email at skarbelk@tranzon.com or mvavrick@tranzon.com. For a complete listing of the available assets, the Bidding Procedures and a Confidentiality Agreement, log on to www.tranzon.com.