ORLANDO, FL / ACCESSWIRE / April 10, 2019 / In today's issue of SmalCap Sentinel, we get the opportunity to virtually sit down with Spherix Incorporated (SPEX) CEO, Anthony Hayes. It has been an eventful year for Hayes and Spherix, much of which Hayes covered in a wide-ranging recent shareholder letter.
We took a moment to dig a little deeper.
SCS: Thanks for the time today, Mr. Hayes. I'd like to start off by asking you a little bit about one of the things that Spherix is best known for, ''The Mouse Video.'' It's not often we get to report on a living thing that had its paralyzed legs fixed by a drug in development. May I ask what you first thought when you saw the video from the lab at Wake Forest?
Hayes: My first thought was that this is pretty amazing. And my second thought was that no one is going to believe it. Seriously, the video is so incredible that we worried that most wouldn't accept it. But privately, it made us feel really good about our efforts to secure the science and affirmed our belief that someday this drug could really help people.
SCS: The company recently revealed in full an investment in pharma company that just had their IPO that has now delivered in excess of $7.5 million in value to your balance sheet. What made you invest and what does that investment mean to Spherix?
Hayes: It's simple, the science. I like to think we're pretty good at identifying science that has turned a corner so to speak, meaning that we feel like it has passed some of the early risk factors. And we look at who is officiating, market opportunity and of course, price to participate. I can't say that we thought our $670,000 investment would turn into a $9 million return but I can't say that we thought it was impossible.
And beyond what it means to us besides a huge boost to our proforma is it really gives some runway and some confidence as we look to add the next winner to our portfolio.
SCS: Anthony, what can you tell us about what the future holds for Spherix and its shareholders?
Hayes: I can only tell you what we intend to do, what we aspire to accomplish. And really, the larger focus remains unchanged. We want to be opportunity agnostic. Our investments in biosciences and even novel rideshare ideas show this. We also don't get too far over our skis because we aren't trying to manage all these diverse ideas like a holding company. We only get involved if they are mostly or entirely autonomous.
Most importantly, we're trying to keep our company structured in an elegant way, making sure that we avoid real debt, keep a really low float and have an attractive balance sheet. We want the investing public to see real potential in our portfolio while trying to avoid some of the pretty obvious pitfalls.
I like to think that over the last year we've proven that's our mission and going forward, we'll do our best to stay the course.
SCS: Thanks for your time, Anthony.
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.
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