PAID Inc. Appoints Terry Fokas to Its Board of Directors
01 Avril 2014 - 3:00PM
Marketwired
PAID Inc. Appoints Terry Fokas to Its Board of Directors
WESTBOROUGH, MA--(Marketwired - Apr 1, 2014) - PAID Inc.'s
(OTCBB: PAYD) Board of Directors today announced that it has added
Terry Fokas to the Board of Directors, effective immediately. He
brings a wealth of knowledge in patent licensing and managing
intellectual property to PAID.
Mr. Fokas is the President and Chief Executive Officer of
Parallel Networks, managing all aspects of the company's software
patent enforcement and licensing activities, including oversight of
outside litigation counsels in cases pending in the federal courts
in the District of Delaware, Eastern District of Texas and the
Court of Appeals for the Federal Circuit. Mr. Fokas received his
Bachelor of Science in marketing and finance from The State
University of New York (SUNY), Empire State College in 1993, his
Juris Doctorate cum laude from St. John's University
School of Law in 1997 and his Master of Laws (LLM) with merit in
banking and finance law from The University of London, The London
School of Economics and Political Science in 1999.
Mr. Fokas is admitted to practice law in Connecticut, New York
and Texas as well as in the federal district courts in the Northern
and Eastern Districts of Texas. From March 2005 to August 2007, Mr.
Fokas was President and Chief Executive Officer of epicRealm
Licensing, LP (the predecessor in interest to Parallel Networks).
Prior to joining epicRealm Licensing, Mr. Fokas was a corporate
attorney at the law firms of Brobeck Phleger & Harrison, LLP
(Dallas, Texas) and Milbank, Tweed Hadley & McCloy, LLP (New
York, NY).
"We are delighted to have Terry join our Board of Directors,"
said Austin Lewis, chairman and chief executive officer. "Terry
brings a significant expertise in patent licensing and enforcement
that will be very beneficial to PAID as we begin to focus on our
intellectual property. I look forward to working with Terry, as
well as continuing to work with the Board and the rest of the PAID
team to maximize our opportunity on behalf of the company and its
shareholders."
"I am very excited to be working with Austin and fellow Board
member Andrew Pilaro at PAID, and contributing to the goal of
monetizing PAID's patent portfolio," said Mr. Fokas. "This is a
very exciting time for PAID and I appreciate the opportunity to
bring my experience to help the company realize as much value as
possible from its foundational and valuable intellectual property
assets."
About PAID Inc.: PAID Inc. offers AuctionInc™ online shipping
calculation and shopping cart software employing its patented
technology to streamline ecommerce. Known for quality and customer
service, PAID offers turnkey online, tools and services that enable
their customers to customize a solution that is right for them.
More details are available at www.paid.com.
Safe Harbor statement under the Private Securities Litigation
Reform Act of 1995: Statements in this news release looking forward
in time involve risks and uncertainties, including the risks
associated with the effect of changing economic conditions, trends
in the markets, the effect and possibility of a spinoff, the
successful monetization of the patent, variations in the company's
cash flow, competition, celebrity programs, business development
efforts, technology availability and cost of materials and other
risk factors. Factors that could cause actual results to differ
materially are discussed in the Company's most recent filings with
the Securities and Exchange Commission.
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