-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SJfpykKFl8EhidK5UBpftEzijLKn2pQRP0md32PAzkpymx/sqWpuyJtMHs5XS00W lheZCouxvx+nXggufymT3g== 0001275287-05-001914.txt : 20050513 0001275287-05-001914.hdr.sgml : 20050513 20050513103657 ACCESSION NUMBER: 0001275287-05-001914 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050513 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050513 DATE AS OF CHANGE: 20050513 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SPHERIX INC CENTRAL INDEX KEY: 0000012239 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-ENGINEERING, ACCOUNTING, RESEARCH, MANAGEMENT [8700] IRS NUMBER: 520849320 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-05576 FILM NUMBER: 05826779 BUSINESS ADDRESS: STREET 1: 12051 INDIAN CREEK CT CITY: BELTSVILLE STATE: MD ZIP: 20705 BUSINESS PHONE: 3014193900 MAIL ADDRESS: STREET 1: 12051 INDIAN CREEK COURT CITY: BELTSVILLE STATE: MD ZIP: 20705 FORMER COMPANY: FORMER CONFORMED NAME: BIOSPHERICS INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: BIOSPHERICS RESEARCH INC DATE OF NAME CHANGE: 19720404 8-K 1 si2734.txt ================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported) May 13, 2005 SPHERIX(R) INCORPORATED ------------------------------------------------------ (Exact name of registrant as specified in its charter) Delaware 0-5576 52-0849320 ---------------------------- ------------ ------------------- (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 12051 Indian Creek Court, Beltsville, Maryland 20705 ---------------------------------------------- ---------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code 301-419-3900 Not Applicable -------------------------------------------------------------- (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ================================================================================ SECTION 2 - FINANCIAL INFORMATION. Item 2.02. Results of Operations and Financial Condition. On May 13, 2005, the Registrant issued a press release regarding its financial results for the quarter ended March 31, 2005. A copy of the press release is attached hereto as Exhibit 99.1. The information provided in this Current Report on Form 8-K is being provided pursuant to Item 2.02 of Form 8-K. The information in this report shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as shall be expressly set forth by specific reference in such a filing. SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS. Item 9.01. Financial Statements and Exhibits. Exhibit 99.1 - Press Release dated May 13, 2005. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Spherix Incorporated -------------------------------- (Registrant) By: /s/ Richard C. Levin -------------------------- Richard C. Levin CEO and President Date: May 13, 2005 EX-99.1 2 si2734ex991.txt Exhibit 99.1 SPHERIX REPORTS FIRST QUARTER LOSS BELTSVILLE, Md., May 13 /PRNewswire-FirstCall/ -- Spherix Incorporated (Nasdaq: SPEX) today reported a net loss of $1.1 million on sales of $5.4 million for the three-months ended March 31, 2005, compared to a loss of $547,000 on sales of $5.1 million for the same period in 2004. The increase in net loss between periods was related to the lower contribution margin on the new State of Maryland contract. The Company is taking necessary steps to improve the margins in this contract, and expects that these efforts will show results in the second half of the year. The growth in revenue came primarily from contracts that the Company won or purchased during 2004. At year-end, contracted backlog had grown to a record $61 million, and many new bids made in the first quarter are pending. The Firm's BioSpherix Division increased its program of outsourcing development of its patented drug uses of Naturlose with the addition of a clinical trial at the University of Maryland Dental School where human validation of the anti-plaque property demonstrated by laboratory tests is being sought. The expanded trials programs and the move of the Division to its new Annapolis facility added approximately $100,000 in expenses between years. Three Months Ended March 31, ------------------------------ 2005 2004 ------------ ------------ Revenue $ 5,434,761 $ 5,052,634 Operating expense 6,517,238 5,591,676 Loss from operations $ (1,082,477) $ (539,042) Net loss $ (1,073,432) $ (547,401) Net loss per share $ (0.09) $ (0.05) Certain statements contained herein are "forward looking" statements as defined in the Private Securities Litigation Reform Act of 1995. Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied. Factors that could cause actual results to differ materially from those expressed or implied include, but are not limited to, those discussed in filings by the Company with the Securities and Exchange Commission, including the filing on Form 8-K made on March 3, 1999. Under its motto, "A World of Solutions," Spherix's mission is to create value and increase shareholder wealth through innovations that benefit our clients and the human condition. Spherix offers innovations in information technology, knowledge management, and biotechnology. Spherix's Internet address is http://www.spherix.com. SOURCE Spherix Incorporated -0- 05/13/2005 /CONTACT: Kathy Brailer of Spherix Incorporated, +1-301-419-3900, or kbrailer@spherix.com/ /Web site: http://www.spherix.com -----END PRIVACY-ENHANCED MESSAGE-----