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Spherix Announces 2008 Financial Results
Date:3/30/2009

rmaceutical industry may experience negative market trends, our continuing efforts to develop Naturlose may be unsuccessful, our common stock could be delisted from the Nasdaq Capital Market, and other risks and challenges detailed in our filings with the U.S. Securities and Exchange Commission, including our current report on Form 8-K filed on October 10, 2007. Readers are cautioned not to place undue reliance on any forward-looking statements which speak only as of the date of this release. We undertake no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances that occur after the date of this release or to reflect the occurrence of unanticipated events.

                                 Spherix Incorporated
                         Consolidated Statements of Operations
                     For the years ended December 31, 2008 and 2007

                                                     2008           2007

     Revenue                                     $1,025,961       $154,698

     Operating expense
        Direct costs                                397,645         54,292
        Research and development expense          4,004,565      5,865,426
        Selling, general and administrative
         expense                                  3,135,310      3,872,041

        Total operating expense                   7,537,520      9,791,759

     Loss from operations                        (6,511,559)    (9,637,061)

        Interest income                             348,443        378,055
        Interest expense                             (2,220)           (77)
        Other expense                                (5,994)             -

     Loss from continuing operations before
      taxes                                      (6,171,330)    (9,259,083)
        Income tax benefit                          552,8
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SOURCE Spherix Incorporated
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