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

03 3,408,015 Loss from continuing operations (5,618,527) (5,851,068) Discontinued operations Income from discontinued operations 2,070,091 9,136,047 Income tax expense (587,098) (4,223,353) Income from discontinued operations 1,482,993 4,912,694 Net loss $(4,135,534) $(938,374) Net (loss) income per share, basic Continuing operations $(0.39) $(0.41) Discontinued operations $0.10 $0.35 Net (loss) income per share, basic $(0.29) $(0.07) Net (loss) income per share, diluted Continuing operations $(0.39) $(0.41) Discontinued operations $0.10 $0.35 Net (loss) income per share, diluted $(0.29) $(0.07) Weighted average shares outstanding, basic 14,342,953 14,215,289 Weighted average shares outstanding, diluted 14,342,953 14,215,289
                                 Spherix Incorporated
                             Consolidated Balance Sheets
                           As of December 31, 2008 and 2007

     ASSETS                                              2008         2007
     Current assets
       Cash and cash equivalents                     $9,404,843  $15,839,959
       Short-term investments                         1,894,434            -
       Trade accounts receivable                        281,342       38,581
       Other receivables                                 37,223      167,229
       Prepaid expenses and other assets                282,971      372,242
                 Total current assets                11,900,813   16,418,011

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SOURCE Spherix Incorporated
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