in violation of a prior patent held by Pictosphere, and in court attempted to use the same defense that had been used against them in the past. They lost the suit. On July 31, 2006, IPIX filed for bankruptcy after posting a 3.8 million dollar loss for the first part of 2006. They had posted a $347 million loss in the tech crash in 2001. Before going bankrupt IPIX had finished developing a technology called i-movies or vPix, streaming video in 360 degrees again without moving cameras. The technology could allow an infinite number of viewers to "move" their own camera and viewing space in a live televised event. The technology was not further marketed. On January 19, 2007, it auctioned off a block of 28 patents for $3.6 million, to an anonymous bidder which later revealed itself to be Sony. On March 27, 2007 Minds-Eye-View won the auction for the remaining IPIX assets, including the trademark name, software and websites. Quotes by Minds-Eye-View president Ford Oxaal suggest the IPIX brand and products will continue to be available. References External links Panorama software Grandeye Ltd (www.grandeye.com) initiated litigation against IPIX in March 2005 in the <ref>U.S. District Court of Eastern District of Virginia <ref></Grandeye vs IPIX> to, among other things, establish ownership and non-infringement of the key IPIX patents. On February 23, 2007 - Grandeye Ltd., the leading supplier of 360-degree surveillance cameras based on 3D graphics technology of 3Dlabs, announced that it has reached a comprehensive settlement with the bankruptcy Trustee of IPIX on patents involved in the litigation. Grandeye had acquired the Ford Oxaal patents and coordinated its litigation against IPIX with Ford Oxaal. Dr Yavuz Ahiska who was the CEO of Grandeye at that time was also the co-founder of 3Dlabs Inc (NASDAQ TDDDF.