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Spherix Announces Second Quarter 2010 Financial Results
Date:8/17/2010

ease or to reflect the occurrence of unanticipated events.Spherix IncorporatedConsolidated Statements of OperationsThree Months Ended June 30,Six Months Ended June 30,2010200920102009Revenue$
327,139$
332,241$
59,430$
92,911Operating expenseDirect costs

(112,270)(109,123)(231,899)(239,665)Research and development expense

(1,544,605)(1,133,962)(2,856,484)(2,695,351)Selling, general and administrative expense

(1,230,103)(649,096)(2,280,750)(1,408,366)Total operating expense

(2,886,978)(1,892,181)(5,369,133)(4,343,382)Loss from operations(2,559,839)(1,559,940)(4,709,703)(3,650,471)Interest income

2,2285,4004,21629,847Loss before taxes

(2,557,611)(1,554,540)(4,705,487)(3,620,624)Income tax expense

----Net loss$ (2,557,611)$ (1,554,540)$ (4,705,487)$ (3,620,624)Net loss per share, basic

$
(0.15)$
(0.11)$
(0.27)$
(0.25)Net loss per share, diluted

$
(0.15)$
(0.11)$
(0.27)$
(0.25)Weighted average shares outstanding, basic

17,150,64814,357,16217,150,64814,357,162Weighted average shares outstanding, diluted

17,150,64814,357,16217,150,64814,357,162Spherix IncorporatedConsolidated Balance SheetsASSETSJune 30, 2010
(Unaudited) December 31,
2009Current assetsCash and cash equivalents

$
4,585,803$
9,026,002Short-term investments, held to maturity

125,000375,003Trade accounts receivable, net

286,102274,153Other receivables

28,886948Prepaid expenses and other assets

95,141209,255Total current assets

5,120,9329,885,361Property and equipment, net

189,964225,958Patents, net of accumulated amortization of $41,622 and $38,588

5,3308,364Deposit

35,62535,625Total assets

$
5,351,851$
,155,308LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilitiesAccounts payable and accrued expenses

$
,651,338$
,714,140Accrued salaries and benefits

396,896388,665Deferred reven
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SOURCE Spherix Incorporated
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