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|  Delaware                                                        |                                                    |    52-0849320               |
|----------------------------------------------------------------------------|---------------------------------------------------------|--------------------------------------------|
|  (State or other jurisdiction of incorporation or organization)  |                                                    |  (I.R.S. Employer Identification No.) |
|                                                                       |                                                    |                                       |
|                                                                       |  6430 Rockledge Drive, Suite 503Bethesda, MD 20817 |                                       |
|                                                                       |  (Address of principal executive offices)          |                                       |

| Title of each class                   |   | Name of each exchange on which registered |
|--------------------------------------------|--------|-------------------------------------------|
| Common Stock ($0.0001 par value per share) |   | The NASDAQ Capital Market                 |

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|                                                                                                    |
|---------------------------------------------------------------------------------------------------------|
|                                                                                                    |   |
| TABLE OF CONTENTS                                                                                       |   |
|                                                                                                    |   |
| Explanatory Note                                                                                        | 1 |
|                                                                                                    |   |
| Forward-Looking Statements                                                                              | 1 |
|                                                                                                    |   |
| PART III                                                                                                |   |
|                                                                                                    |   |
| Item 10: Directors, Executive Officers and Corporate Governance                                         | 2 |
| Item 11: Executive Compensation                                                                         | 4 |
| Item 12: Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 6 |
| Item 13: Certain Relationships and Related Transactions, and Director Independence                      | 8 |
| Item 14: Principal Accounting Fees and Services                                                         | 8 |
|                                                                                                    |   |
| PART IV                                                                                                 |   |
|                                                                                                    |   |
| Item 15: Exhibits, Financial Statement Schedules                                                        | 8 |
|                                                                                                    |   |
| Signature Page                                                                                          | 9 |

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|                              |   |   |   |                                 |   | Director |
|-----------------------------------|--------|--------|--------|--------------------------------------|--------|----------|
| Name                              |   | Age    |   | Position                             |   | Since    |
| Robert J. Vander Zanden (1)(2)(3) |   | 69     |   | Director, and Chairman of the Board  |   | 2004     |
| Anthony Hayes                     |   | 47     |   | Chief Executive Officer and Director |   | 2013     |
| Douglas T. Brown (1)(2)(3)        |   | 61     |   | Director                             |   | 2004     |
| Alexander Poltorak                |   | 57     |   | Director                             |   | 2013     |
| Jeffrey Ballabon (1)(2)(3)        |   | 52     |   | Director                             |   | 2014     |

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| Name          |   | Age |   | Position                             |
|---------------|--------|-----|--------|--------------------------------------|
| Anthony Hayes |   | 47  |   | Chief Executive Officer and Director |
| Richard Cohen |   | 62  |   | Chief Financial Officer              |

| · | Form 3 for Mr. Cohen within 10 days of becoming an executive officer of the Company on January 6, 2014; |
|--------|---------------------------------------------------------------------------------------------------------|

| · | Form 3 for Mr. Ballabon within 10 days of becoming a director of the Company on June 9, 2014; |
|--------|-----------------------------------------------------------------------------------------------|

| · | One Form 4 reporting one grant of stock options awarded to Mr. Poltorak on July 3, 2014; |
|--------|-----------------------------------------------------------------------------------------------|

| · | One Form 4 reporting one grant of stock options awarded to Mr. Hayes on July 3, 2014; |
|--------|---------------------------------------------------------------------------------------|

| · | One Form 4 reporting one grant of stock options awarded to Mr. Brown on July 3, 2014; and |
|--------|-------------------------------------------------------------------------------------------|

| · | One Form 4 reporting one grant of stock options awarded to Mr. Vander Zanden on July 3, 2014. |
|--------|-----------------------------------------------------------------------------------------------|

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| Name and Principal Position                              | Year   |   | Salary($) |    |   | Bonus($) |    |    | Stock Award($) |   |   | Option Award($) |   |   | Non-EquityIncentive PlanCompensation($)(1) |      |   | Change in PensionValue and Non-Qualified DeferredCompensationEarnings ($) |   |   | All OtherCompensation($) |   |   | Total ($) |   |
|----------------------------------------------------------|--------|--------|-----------|---------|--------|----------|---------|---------|----------------|--------|--------|-----------------|--------|--------|--------------------------------------------|-----------|--------|---------------------------------------------------------------------------|--------|--------|--------------------------|--------|--------|-----------|--------|
| Anthony Hayes, Chief Executive Officer (2)               | 2014   |   |      | 350,000 |   |     |    | 250,000 |           |   |   | -               |   |   |                                       | 805,651   |   |                                                                      |   | -      |                     |   |   | -         |   |   |   | 6,400 |   |   |   | 1,412,051 |   |
| 2013                                                     |   |   | 92,885    |    |   |     | 200,000 |    |           |   | -      |            |   |   | 4,885,558                                  |      |   |                                                                      | -      |   |                     |   | -      |      |   |   | - |   |   |   | 5,178,443 |   |
|                                                     |   |   |      |    |   |     |    |    |           |   |   |            |   |   |                                       |      |   |                                                                      |   |   |                     |   |   |      |   |   |   |   |   |   |   |   |   |
| Harvey Kesner, Interim CEO and Director (3)              | 2014   |   |      | 14,250  |   |     |    | -       |           |   |   | -               |   |   |                                       | 2,244,944 |   |                                                                      |   | -      |                     |   |   | -         |   |   |   | 14,250 |   |   |   | 2,273,444 |   |
| 2013                                                     |   |   | -         |    |   |     | -       |    |           |   | -      |            |   |   | 8,531,674                                  |      |   |                                                                      | -      |   |                     |   | -      |      |   |   | 423,300 |   |   |   | 8,954,974 |   |
|                                                     |   |   |      |    |   |     |    |    |           |   |   |            |   |   |                                       |      |   |                                                                      |   |   |                     |   |   |      |   |   |   |   |   |   |   |   |   |
| Robert Lodder, Former President (4)                 | 2014   |   |      | -       |   |     |    | -       |           |   |   | -               |   |   |                                       | -         |   |                                                                      |   | -      |                     |   |   | -         |   |   |   | - |   |   |   | - |   |
| 2013                                                     |   |   | 126,424   |    |   |     | -       |    |           |   | -      |            |   |   | -                                          |      |   |                                                                      | -      |   |                     |   | -      |      |   |   | 233,398 |   |   |   | 359,822 |   |
|                                                     |   |   |      |    |   |     |    |    |           |   |   |            |   |   |                                       |      |   |                                                                      |   |   |                     |   |   |      |   |   |   |   |   |   |   |   |   |
| Richard Cohen,Chief Financial Officer (5)                | 2014   |   |      | 240,000 |   |     |    | -       |           |   |   | -               |   |   |                                       | -         |   |                                                                      |   | -      |                     |   |   | -         |   |   |   | - |   |   |   | 240,000 |   |
| 2013                                                     |   |   | -         |    |   |     | -       |    |           |   | -      |            |   |   | -                                          |      |   |                                                                      | -      |   |                     |   | -      |      |   |   | - |   |   |   | - |   |
|                                                     |   |   |      |    |   |     |    |    |           |   |   |            |   |   |                                       |      |   |                                                                      |   |   |                     |   |   |      |   |   |   |   |   |   |   |   |   |
| Robert ClaytonCFO, Treasurer and Corporate Secretary (6) | 2014   |   |      | -       |   |     |    | -       |           |   |   | -               |   |   |                                       | -         |   |                                                                      |   | -      |                     |   |   | -         |   |   |   | - |   |   |   |   - |   |
| 2013                                                     |   |   | 135,255   |    |   |     | -       |    |           |   | -      |            |   |   | -                                          |      |   |                                                                      | -      |   |                     |   | -      |      |   |   | 212,180 |   |   |   | 347,435 |   |
|                                                     |   |   |      |    |   |     |    |    |           |   |   |            |   |   |                                       |      |   |                                                                      |   |   |                     |   |   |      |   |   |   |   |   |   |   |   |   |

| (1)   | Awards pursuant to the Spherix Incorporated 2013 Incentive Compensation Plan and 2014 Plan. |
|-----------------|---------------------------------------------------------------------------------------------|

| (2)   | In 2013, Mr. Hayes received a $100,000 signing bonus, a $100,000 annual bonus and 750,000 stock options valued on the date of grant in accordance with ASC Topic 718.  On January 28, 2014, the Compensation Committee adopted a resolution intended to grant Mr. Hayes 300,000 stock options with a term of five years and an exercise price of $5.83 that would be subject to certain vesting conditions upon agreement of the Compensation Committee and Mr. Hayes. The parties failed to reach agreement prior to the date of this Annual Report on From 10-K and accordingly the stock options subject to specific performance targets were determined not to be issued, but may be issued at a future date at the discretion of the Compensation Committee. In accordance with the ASC Topic 718 the failure to finalize performance targets result in the stock options not being considered to have been granted and therefore not outstanding.  On April 3, 2014, Mr. Hayes received 500,000 stock options with a term of five years and valued on the date of grant, with 50% vesting immediately and the remaining 50% vesting upon our Company’s receipt of gross proceeds of at least $30 million by April 3, 2015 from an offering of its securities. On June 30, 2014, Mr. Hayes received a bonus in the aggregate amount of $250,000.  On July 3, 2014, Mr. Hayes received 100,000 stock options with a term of five years and an exercise price of $1.79, vesting immediately.  Mr. Hayes also received $6,400 in cash for his service as a director of our Company during 2014. All stock options to Mr. Hayes were granted in accordance with ASC Topic 718. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3)   | Mr. Kesner served as our interim Chief Executive Officer from February 27, 2013 to September 10, 2013.  Mr. Kesner was paid $14,250 as compensation for his Board of Director duties during 2014.  During 2013, Mr. Kesner was paid $150,000 as compensation for his CEO duties and $23,300 as compensation for his Board of Director duties.  Other Compensation includes $250,000 consulting fee paid to Paradox Capital Partners in 2013, a firm of which Mr. Kesner is manager and member, for services rendered in the merger of North South.  Mr. Kesner’s compensation does not include legal fees paid to a law firm with which Mr. Kesner is associated, in the amount of $557,483 and $815,981 as of December 31, 2014 and 2013, respectively.  On January 28, 2014, Mr. Kesner received 675,000 stock options with a term of five years and an exercise price of $5.83, vesting immediately on the date of issue. On April 3, 2014, Mr. Kesner received 200,000 stock options with a term of five years, valued on the date of grant and vesting immediately. Mr. Kesner resigned his positions as Director on May 28, 2014. Pursuant to his resignation, the Board approved the accelerated vesting of 837,500 previously granted stock options to vest on the date of Mr. Kesner’s resignation. All stock options to Mr. Kesner were granted in accordance with ASC Topic 718. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4)   | Mr. Lodder resigned as our President in February 2013.  We paid Mr. Lodder severance of $233,398 as required by the terms of his prior employment agreement. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5)   | Mr. Cohen was appointed our Chief Financial Officer on January 6, 2014.  In consideration for Mr. Cohen’s services, we agreed to pay Chord Advisors LLC (“Chord”), of which Mr. Cohen is chairman, a monthly fee of $20,000 ($5,000 of which was payable in shares of our Common Stock).  In April 2014, we modified this agreement to pay Chord a monthly fee of $20,000 in cash, and no fees were paid to Chord in the form of our Common Stock. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6)   | Mr. Clayton resigned as Chief Financial Officer, Treasurer and Corporate Secretary in March 2013.  We paid Mr. Clayton a severance of $212,180 as required by the terms of his prior employment agreement. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                |   | Option Awards |                                                                   | Stock Awards |   |
|---------------------|--------|---------------|------------------------------------------------------------------------|--------------|--------|
|                |   |          |                                                                   |         |   |
|  Name          |   |          |  Number of Securities UnderlyingUnexercisedOptions (#)Exercisable |         |   |   |  Number ofSecuritiesUnderlyingUnexercisedOptions (#)Unexercisable |   |   |   |  OptionExercisePrice ($) |   |   Option Expiration Date |   |   |  Numberof Sharesor Unitsof Stockthat havenot Vested (#) |   |   |   |  MarketValue ofShares orUnits ofStock thathave notVested ($) |   |
|  Anthony Hayes |   |          | 687,500                                                                |         |   |   | 62,500 |   |   | $ | 7.08 |   | 04/01/2023 |   |   | - |   |   |   | - |   |
|                |   |          | 250,000                                                                |         |   |   | 250,000 |   |   | $ | 2.86 |   | 04/03/2019 |   |   | - |   |   |   | - |   |
|                |   |          | 100,000                                                                |         |   |   | - |   |   | $  | 1.79 |   | 07/15/2019 |   |   | - |   |   |   | - |   |
|  Richard Cohen |   |          | -                                                                      |         |   |   | - |   |   | $ | - |   | - |   |   | - |   |   |   |   - |   |

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| Name                       |   | Fees earned or paid in cash ($) |   | StockAwards ($) |   | Option Awards ($) | Non-Equity IncentivePlanCompensation ($) | Change in PensionValue and Non- QualifiedDeferredCompensationEarnings ($) | All OtherCompensation ($) | Total ($) |
|----------------------------|--------|---------------------------------|--------|-----------------|--------|-------------------|------------------------------------------|---------------------------------------------------------------------------|---------------------------|-----------|
| Jeffrey Ballabon           |   | $                               | 22,375 |            |   |              | -                                        |                                                                      | -                         | -         | - | - | 22,375 |
| Douglas T. Brown(1)        |   | $                               | 51,800 |            |   |              | -                                        |                                                                      | 390,764                   | -         | - | - | 442,564 |
| Edward Karr(2)             |   |                            | 48,400 |            |   |              | -                                        |                                                                      | 651,013                   | -         | - | - | 699,413 |
| Robert J. Vander Zanden(3) |   | $                               | 56,000 |            |   |              | -                                        |                                                                      | 390,764                   | -         | - | - | 446,764 |
| Alexander Poltorak(4)      |   | $                               | 41,000 |            |   |              | -                                        |                                                                      | 351,214                   | -         | - | - | 392,214 |

| (1) | Mr. Brown was paid $51,800 in compensation for his duties as a director. On January 28, 2014, Mr. Brown received 75,000 stock options with a term of five years and an exercise price of $5.83, with 50% vesting on the date of issue and the remaining 50% on the one year anniversary of the date of issue so long as Mr. rBrown has not been removed for cause. On July 3, 2014, Mr. Brown received 200,000 stock options with a term of five years and an exercise price of $1.79, vesting immediately.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Mr. Karr was paid $48,400 in compensation for his duties as a director. On January 28, 2014, Mr. Karr received 275,000 stock options with a term of five years and an exercise price of $5.83, with 200,000 vesting on the date of issue and the remaining 75,000 vesting in two equal installments with 50% vesting on the date of issue and the remaining 50% on the one year anniversary of the date of issue so long as he has not been removed for cause. On April 3, 2014, Mr. Karr received 100,000 stock options with a term of five years, valued on the date of grant and vesting immediately. On July 3, 2014, Mr. Karr received 200,000 stock options with a term of five years and an exercise price of $1.79, vesting immediately. Mr. Karr resigned his positions as Director on December 15, 2014. Pursuant to his resignation, the Board approved the accelerated vesting of 137,500 previously granted stock options to vest on the date of Mr. Karr’s resignation. |
| (3) | Mr. Vander Zanden was paid $56,000 for his duties as a director. On January 28, 2014, Mr. Vander Zanden received 75,000 stock options with a term of five years and an exercise price of $5.83, with 50% vesting on the date of issue and the remaining 50% on the one year anniversary of the date of issue so long as Mr. Vander Zanden has not been removed for cause. On July 3, 2014, Mr. Vander Zanden received 200,000 stock options with a term of five years and an exercise price of $1.79, vesting immediately.                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| (4) | Mr. Poltorak was paid $41,000 in compensation for his duties as a director. On January 28, 2014, Mr. Poltorak received 75,000 stock options with a term of five years and an exercise price of $5.83, with 50% vesting on the date of issue and the remaining 50% on the one year anniversary of the date of issue so long as Mr. Poltorak has not been removed for cause. On April 3, 2014, Mr. Poltorak received 75,000 stock options with a term of five years , valued on the date of grant and vesting immediately. On July 3, 2014, Mr. Poltorak received 200,000 stock options with a term of five years and an exercise price of $1.79, vesting immediately.                                                                                                                                                                                                                                                                                                                             |

| Annual Retainer        | $25,000  | To be paid in cash at May Board Meeting annually.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|------------------------|----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Stock Options          | 75,000   | Options to acquire shares of our Common Stock, pursuant to and subject to the available number of shares under the 2014 Plan, to be granted on the date of our Annual Meeting. The options will have an exercise price equal to the closing price on the trading day immediately preceding the date of issuance and be exercisable for a period of five (5) years. The options will vest in two equal annual installments with 50% vesting immediately on the date of issue and the remaining 50% on the one year anniversary of the date of the issue, so long as the director has not been removed for cause. |
| Board Meeting Fees     | $2,500   | To be paid for all in-person Board Meetings.  Members must be present to be paid.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| Committee Meeting Fees | $800     | To be paid for all in-person Committee Meetings.  Members must be present to be paid.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Teleconference Fees    | $800$300 | To be paid for all teleconferences called by either the Chairman of the Board, the President, or by the Chairman of the relevant Committee.  Members must be on-line to be paid. The fee is $800 for teleconferences during which formal action was taken and $300 for teleconferences during which no formal action was taken.                                                                                                                                                                                                                                                                            |
| Additional Retainer    | $5,000   | To be paid to the Chairman of the Board upon election annually.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Additional Retainer    | $3,000   | To be paid to the Chairman of the Audit Committee annually.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |

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| Plan Category                                              | Number of securities to be issued upon exercise of outstanding options, warrants and rights (a) |   | Weighted average exercise price of outstanding options, warrantsand rights (b)                                                                                                      |   | Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) (c) |
|------------------------------------------------------------|-------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------|
| Equity compensation plans approved by security holders     | 5,298,877 (1)                                                                                   |   | $                             4.97 |   | 1,672,928 (2)                                                                                                                                   |
| Equity compensation plans not approved by security holders | -                                                                                               |   |                                                                                                                                                                                |   | -                                                                                                                                               |
| Total                                                      | 5,298,877                                                                                       |   |                                                                                                                                                                                |   | 1,672,928                                                                                                                                       |

| (1) | Consists of options to acquire 7,163 shares of our Common Stock under the 2012 Equity Incentive Plan, 2,006,714 shares of our Common Stock under the 2013 Equity Incentive Plan and 3,285,000 under the 2014 Equity Incentive Plan. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Consists of shares of Common Stock available for future issuance under our equity incentive plan or any other individual compensation arrangement. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------|

| Title of Class                   | Name of Beneficial Owner                          | Amount and Nature of Ownership (1) | Percent of Class Beneficially Owned (2) |
|----------------------------------|---------------------------------------------------|------------------------------------|-----------------------------------------|
| Executive Officers and Directors |                                              |                               |                                    |
| Common                           | Robert J. Vander Zanden                           | 351,302 (3)                        | 1.21%                                   |
| Common                           | Anthony Hayes                                     | 1,123,081(4)                       | 3.78%                                   |
| Common                           | Douglas T. Brown                                  | 351,304 (5)                        | 1.21%                                   |
| Common                           | Jeffrey Ballabon                                  | -                                  | *                                       |
| Common                           | Alexander Poltorak                                | 351,214 (6)                        | 1.21%                                   |
| Common                           | Richard Cohen                                     | -                                  | *                                       |
| Common                           | All Directors and Officers as a Group (6 persons) | 2,176,901                          | 7.08%                                   |

| * | Less than 1% of the outstanding shares of the Company Common Stock. |
|---|---------------------------------------------------------------------|

| (1) | Under Rule 13d-3 of the Exchange Act a beneficial owner of a security includes any person who, directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise has or shares: (i) voting power, which includes the power to vote or to direct the voting of shares; and (ii) investment power, which includes the power to dispose or direct the disposition of shares. Certain shares may be deemed to be beneficially owned by more than one person (if, for example, persons share the power to vote or the power to dispose of the shares). In addition, shares are deemed to be beneficially owned by a person if the person has the right to acquire the shares (for example, upon exercise of an option) within 60 days of the date as of which the information is provided. In computing the percentage ownership of any person, the amount of shares outstanding is deemed to include the amount of shares beneficially owned by such person (and only such person) by reason of these acquisition rights. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Based on 28,611,967 shares of our Common Stock outstanding as of April 22, 2015 and takes into account the beneficial ownership limitations governing the Series C Preferred Stock, Series D Preferred Stock, Series D-1 Preferred Stock, Series H Preferred Stock and Series I Preferred Stock. Beneficial ownership limitations on our Series H Preferred Stock and Series I Preferred Stock prevents the conversion or voting of the stock if the number of shares of Common Stock to be issued pursuant to such conversion or to be voted would exceed, when aggregated with all other shares of Common Stock or other voting stock owned by the same holder at the time, the number of shares of Common Stock which would result in such holder beneficially owning more than 4.99% of all of the Common Stock outstanding at such time. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Includes 143 shares of Common Stock and 351,159 options for purchase of Common Stock exercisable within 60 days of April 22, 2015. |
|-----|------------------------------------------------------------------------------------------------------------------------------------|

| (4) | Includes 23,081 shares of Common Stock and 1,100,000 options for purchase of Common Stock exercisable within 60 days of April 22, 2015. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------|

| (5) | Includes 144 shares of Common Stock and 351,160 options for purchase of Common Stock exercisable within 60 days of April 22, 2015. |
|-----|------------------------------------------------------------------------------------------------------------------------------------|

| (6) | Consists of 351,214 options for purchase of Common Stock exercisable within 60 days of April 22, 2015. |
|-----|--------------------------------------------------------------------------------------------------------|

----

|               |   | 2014   |    |   | 2013   |   |
|--------------------|--------|--------|---------|--------|--------|--------|
|               |   |   |    |   |   |   |
| Audit Fees         |   | $      | 259,070 |   |   | $      | 346,343 |   |
| Audit Related Fees |   | $      | -       |   |   | $      | 34,500 |   |
| Tax Fees           |   | $      | -       |   |   | $      | - |   |
| All Other Fees     |   | $      | -       |   |   | $      | - |   |
| Total              |   | $      | 259,070 |   |   | $      | 380,843 |   |

----

|                                 | Spherix Incorporated (Registrant)                                                                            |
|--------------------------------------|-------------------------------------------------------------------------------------------------------------------|
| Date:  April 30, 2015 | By:  /s/ Anthony HayesAnthony HayesDirector and Chief Executive Officer (Principal Executive Officer)   |
|                                 |                                                                                                              |
|                                 |                                                                                                              |
| Date:  April 30, 2015 | By:  /s/ Richard CohenRichard CohenChief Financial Officer (Principal Financial and Accounting Officer) |

----

| Exhibit No.  | Description                                                                                                                |
|-------------------|----------------------------------------------------------------------------------------------------------------------------|
|              |                                                                                                                       |
| 31.1              | Certification of Chief Executive Officer of Spherix Incorporated pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|              |                                                                                                                       |
| 31.2              | Certification of Chief Financial Officer of Spherix Incorporated pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|              |                                                                                                                       |
| 32.1              | Certification of Chief Executive Officer of Spherix Incorporated pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
|              |                                                                                                                       |
| 32.2              | Certification of Chief Financial Officer of Spherix Incorporated pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |