PAID Inc. Appoints Terry Fokas to Its Board of Directors
WESTBOROUGH, MA -- (Marketwired) -- 04/01/14 -- 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(TM) 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.
Press spacebar to pause and continue. Press esc to stop.