Final IPIX assets sold to Minds Eye View (Ford Oxaal)

Subject: Final IPIX assets sold to Minds Eye View (Ford Oxaal)

From: Scott Highton <email@hidden>

Date: Tue, 27 Mar 2007 11:34:43 -0700

Delivered-to: email@hidden

In a bankruptcy courtroom auction this morning in Alexandria, VA, all the remaining physical assets of the IPIX Corporation were won with a $450,000 bid by Minds Eye View, Inc. (Ford Oxaal's company). The assets were valued at close to $2 million, and included all the IPIX trademarks, domain names, office furnishings, cameras, lenses and computer equipment that remained.

The only other serious bidder was the Image Corp. of America, a relatively new entity/division of Luminetx, which is headed by former IPIX CEO James Phillips. Image Corp. had made an initial offer of $50,000 back in December for these remaining assets, which had been accepted by the court-appointed Trustee. A counter offer had been received by the bankruptcy court's deadline from Minds Eye View, and a courtroom hearing / auction between the two parties was concluded this morning.

Note that at one time, Ford Oxaal and IPIX had competing lawsuits against each other over their patents for "spherical" photography. Japan's electronics giant Sony Corp. won the IPIX intellectual property patent portfolio back in December in another courtroom auction (also bidding against Jim Phillips' Image Corp.), paying over $3 million for these IP assets.

it is now believed that all the assets of the former IPIX Corporation have been sold off. What remains to be seen is how the new owners will choose to utilize these assets, and what new VR photography technologies might result.

Scott Highton

Author, Virtual Reality Photography

Web: http://www.vrphotography.com

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