IPIX Files for Chapter 7 Liquidation

IPIX Corp., Herndon, Va., USA, filed a Chapter 7 bankruptcy petition in the United States Bankruptcy Court for the Eastern District of Virginia, Case No. 06-10856. According to a Securities and Exchange Commission (SEC) filing, the company, which pioneered "immersive" 3-D imaging on the Internet, has ceased all business activity and operations.

"The company determined that it does not have sufficient resources to continue its operations and has been unable to secure additional financing required to fund its operating activities," the SEC filing states. "The court will appoint a bankruptcy trustee who will be responsible for the wind-up of the business."

(Note from Steve: I am thrilled that Ipix has finally gone out of business. They did their best to put everybody out of business that tried to create 360-degree panoramic images from two 180-degree fisheye images claiming it infringed on their patents. All I can say is that you reap what you sow - you will not be missed, see ya!)