Final IPIX assets sold to Minds Eye View (Ford Oxaal)
- 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.
Author, Virtual Reality Photography