Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

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Condensed Statements of Cash Flows (Unaudited) (USD $)
 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 2,174,000 $ 2,660,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 249,000 5,000
Stock based compensation 256,000 165,000
Source (use) of cash from changes in operating assets and liabilities:    
Royalty receivables and other current assets (1,051,000) (1,162,000)
Accounts payable and accrued expenses (5,000) (1,012,000)
Income Tax payable (62,000) (67,000)
Deferred tax asset 316,000 568,000
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 1,877,000 1,157,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of Patents (4,420,000)   
CASH FLOWS FROM FINANCING ACTIVITIES:    
Value of shares delivered to fund withholding taxes (486,000) (487,000)
Repurchase of treasury stock (851,000) (52,000)
NET CASH PROVIDED (USED IN) FINANCING ACTIVITIES (1,337,000) (539,000)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (3,880,000) 618,000
CASH AND CASH EQUIVALENTS, beginning of period 21,983,000 20,661,000
CASH AND CASH EQUIVALENTS, end of period 18,103,000 21,279,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest      
Taxes 93,000 127,000
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Value of shares issued to purchase patent $ 1,438,000