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Spherix Announces 2010 Financial Results
Date:3/30/2011

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155,261209,255Total current assets

6,824,9909,885,361Property and equipment, net

154,161225,958Patents, net of accumulated amortization of $50,725 and $44,657

2,2968,364Deposit

35,62535,625Total assets

$
7,017,072$  10,155,308LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilitiesAccounts payable and accrued expenses

$
,211,561$
,714,140Accrued salaries and benefits

563,706388,665Deferred revenue

170,64190,915Total current liabilities

1,945,9082,193,720Deferred compensation

550,000580,000Deferred rent

80,945109,712Total liabilities

2,576,8532,883,432Commitments and contingencies

--Stockholders' equityPreferred stock, $0.01 par value, 2,000,000 shares authorized;5,250 series B issued and 1 outstanding at December 31, 2010, none issued and outstanding at December 31, 2009

--Common stock, $0.005 par value, 50,000,000 shares authorized; 21,436,310 and 17,231,086 issued, 21,355,872 and 17,150,648outstanding at December 31, 2010 and 2009, respectively

107,18286,155Paid-in capital in excess of par value

38,483,06833,599,510Treasury stock, 80,438 shares, at cost at December 31, 2010 and 2009, respectively

(464,786)(464,786)Accumulated deficit

(33,685,245)(25,949,003)Total stockholders' equity

4,440,2197,271,876Total liabilities and stockholders' equity

$
7,017,072$  10,155,308
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SOURCE Spherix Incorporated
Copyright©2010 PR Newswire.
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