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Spherix Stockholders Authorize Potential Reverse Stock Split
Posted by: gurufocus (IP Logged)
Date: December 13, 2008 08:05PM
Press Release: Spherix Stockholders Authorize Potential Reverse Stock Split
Spherix is a technology innovations company. The Company consists of aBiotechnology Division (BioSpherix) a Commercial Information Services Division (CISD) a Government Information Services Division (GISD) and an Information Technology Division (ITD). CISD GISD and ITD are collectively referred to as ``InfoSpherix.`` The Company is managed along two business segments BioSpherix and InfoSpherix. Spherix Inc. has a market cap of $4.31 million; its shares were traded at around $0.26 with and P/S ratio of 27.79.
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As a result of Nasdaq's recent suspension of enforcement of its minimumprice requirement, the Company has until
"We are pleased with the support of our stockholders in authorizing theBoard to affect a reverse split, and the confidence that it represents inSpherix going forward," said
Spherix also reported that it has now received the final
Certain statements contained herein are "forward looking" statements asdefined in the Private Securities Litigation Reform Act of 1995. Because suchstatements include risks and uncertainties, actual results may differmaterially from those expressed or implied. Factors that could cause actualresults to differ materially from those expressed or implied include, but arenot limited to, those discussed in filings by the Company with the Securitiesand Exchange Commission, including the filing on Form 8-K made on
Spherix's mission is to create value and increase shareholder wealththrough innovations that benefit our clients and the human condition. Spherixoffers innovations in biotechnology, and provides technical and regulatoryconsulting services to biotechnology and pharmaceutical companies.
Stocks Discussed: SPEX,