Investment in TheBit Daily LLC

3 Months Ended

Mar. 31, 2018

Investment In Thebit Daily Llc

Investment in TheBit Daily LLC

Note 5. Investment in TheBit Daily LLC

On March 23, 2018, Spherix Incorporated purchased 8.0% of the issued and outstanding limited liability company membership interests of TheBit Daily LLC, a development stage media and education platform focused on the blockchain and cryptocurrency space, for a subscription price of $25,000.

The Company adopted the fair value option for this investment and recorded changes in fair value, if any, in the statement of operations (see Note 7).