and today SPEX continues the gain.The company has released no news since it has reported its Q2 results about two weeks ago. According to the report, revenue and gross profit of Spherix have increased a bit, though its net loss and expenses also got higher. The company still has more assets than liabilities on its balance sheet, however, the stockholders’ equity of SPEX exceeds $2 thousand.
In its financial report, Spherix claimed that: “No substantial revenue is expected from the Biospherics segment until the Company is successful in selling or licensing its technology”, and it expected to expend all of the available cash within the next six months.[BANNER]
By now, SPEX has financed its development activities through remaining proceeds from the sale of stock and it is currently looking for new partners to continue its clinical trials. Spherix claims that it needs between $7 million and $9 million to support its development operations over the next 12 months and the company should find additional capital to complete its business plan.
Based on these financials, investors should carefully observe the stock, as the future movement of SPEX is quite unpredictable.
