IPIX Corporation's Trademarks Sold at Auction in Bankruptcy Court.

FAIRFAX, March 27, 2007 -- As part of IPIX Corporation's voluntary bankruptcy, its trademarks were sold at auction in the United States Bankruptcy Court for the Eastern District of Virginia with its remaining assets for $450,000.

The Reston based IPIX earned an international reputation for the quality of its high-resolution digital 360-degree video cameras and immersive still photography business. The winnig bidder was New York based Minds-Eye-View, Inc. Despite rumors to the contrary, Apple, Inc. was not a bidder for the trademarks.

IPIX's patents were previously sold at auction to the highest bidder Sony for $3.6 million. The company's trademarks and domain names were bundled with mailing lists, office funrature, legacy software, and camera equipment.

Ford Oxaal, the president of Minds-Eye-View, Inc., stated that his company was motivated to bid for the assets because they were positioned to exploit the brand in connection with patent licenses for the technology. IPIX Corporation was operating with an approximate deficit of approximately $500 million when it filed for bankruptcy and Oxaal estimated that $100 million of the debt had been spent in developing the IPIX brand.

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