NEW YORK, March 12, 2019 /PRNewswire/ -- Spherix
Incorporated (NASDAQ: SPEX)- a technology development company
committed to the fostering of innovative ideas, announced today
that it has filed its Annual Report on Form 10-K for the year
ended December 31, 2018 with the Securities and
Exchange Commission.
A copy of the Annual Report on Form 10-K is available to be
viewed or downloaded from the Investor Relations Section of the
Company's Website, here. Financial highlights include a
$7.5 million one time gain for the
quarter, total assets of $13.3
million, approximately 8 million shares currently
outstanding and no debt. Hard copies of the Annual Report on
Form 10-K are being mailed to shareholders in advance of the Annual
Meeting on April 15, 2019.
"2018 proved to be a pivotal year in the growth and development
of the Company. During the fourth quarter that ended
December 31, 2018, we recorded a
$7.5 million one-time gain due in
large part to the successful integration of our recent
investments," stated Anthony Hayes, CEO of Spherix.
"Going forward, we will continue to examine similar accretive
acquisitions," added Hayes.
About Spherix Incorporated
Spherix Incorporated is a technology development company
committed to the fostering of innovative ideas. Spherix
Incorporated was formed in 1967 as a scientific research company.
Our activities generally include the acquisition and development of
technology through internal or external research and development.
In addition, we seek to acquire existing rights to intellectual
property through the acquisition of already issued patents and
pending patent applications, both in the
United States and abroad. We may alone, or in conjunction
with others, develop products and processes associated with
technology development and monetizing related intellectual
property.
Forward-Looking Statements
Certain statements in this
press release constitute "forward-looking statements" within the
meaning of the federal securities laws. Words such as "may,"
"might," "will," "should," "believe," "expect," "anticipate,"
"estimate," "continue," "predict," "forecast," "project," "plan,"
"intend" or similar expressions, or statements regarding intent,
belief, or current expectations, are forward-looking statements.
While the Company believes these forward-looking statements are
reasonable, undue reliance should not be placed on any such
forward-looking statements, which are based on information
available to us on the date of this release. These forward-looking
statements are based upon current estimates and assumptions and are
subject to various risks and uncertainties, including without
limitation those set forth in the Company's filings with the SEC,
not limited to Risk Factors relating to its patent business
contained therein. Thus, actual results could be materially
different. The Company expressly disclaims any obligation to update
or alter statements whether as a result of new information, future
events or otherwise, except as required by law.
Contact:
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Investor
Relations:
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Hayden IR
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Brett Maas, Managing
Partner
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Phone: (646)
536-7331
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Email:
brett@haydenir.com
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www.haydenir.com
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Spherix:
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Phone:
212-745-1373
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Email:
investorrelations@spherix.com
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www.spherix.com
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SOURCE Spherix Incorporated