EXHIBIT 99.1

                                             For additional information, contact
                                              Investor Relations, (301) 897-2540
July 23, 2008                                           Email:  info@spherix.com

               SPHERIX RECEIVES NASDAQ BID PRICE DEFICIENCY LETTER

BETHESDA, MD, Spherix Incorporated (NASDAQ/SPEX) reported that on July 21, 2008,
it received written notification from NASDAQ advising the Company that the bid
price of the Company's common stock for the last thirty (30) consecutive
business days had closed below the minimum $1.00 per share required for
continued listing on NASDAQ. This notice has no effect on the listing of the
Common Stock at this time.

         Spherix has been provided an initial period of 180 calendar days, or
until January 20, 2009, to regain compliance with the minimum price requirement.
The notification further provides that NASDAQ will provide written notification
stating that the Company has achieved compliance if at any time before January
20, 2009, the bid price of its common stock closes at $1.00 per share or more
for a minimum of ten (10) consecutive business days. Under certain
circumstances, NASDAQ has the discretion to require compliance for a period in
excess of ten (10) consecutive business days, but generally such extended period
does not exceed twenty (20) consecutive business days.

         If the Company does not regain compliance with this rule by January 20,
2009, NASDAQ will provide notice to the Company that its common stock will be
delisted from NASDAQ. If the Company receives such a letter, the Company will
have an opportunity to appeal the determination.

         The Company is considering seeking stockholder approval for a reverse
stock split to address the bid price deficiency.

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         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 October 10, 2007.

         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 biotechnology, and provides technical and regulatory
consulting services to biotechnology and pharmaceutical companies.

                 Our Internet address is http://www.spherix.com.
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