Company Description (as filed with the SEC)
We were organized as a Delaware corporation in 1967. Until the sale of Spherix Consulting, Inc. in December 2012, our principal segments have been Biospherics, our biotechnology research and development business, and Health Sciences, a technical and regulatory consulting business. In November, 2012, following completion of a private placement offering, the Company expanded its Board of Directors and agreed to re-examine its business strategies and explore strategic alternatives. It was agreed that this effort could result in the divestiture or winding down of certain businesses and the possible entry into a new, not yet identified business, including potential expansion via acquisitions. On December 3, 2012, the Company sold all of the stock of Spherix Consulting, Inc. In connection with this sale, Dr. Claire Kruger resigned as a member of the board of directors of the Company and terminated her employment with the Company to join Spherix Consulting, Inc. ... More ...