Annual report pursuant to Section 13 and 15(d)

Statements of Income and Comprehensive Income

v2.4.0.6
Statements of Income and Comprehensive Income (USD $)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Income Statement [Abstract]    
ROYALTY REVENUE $ 8,698,000 $ 7,398,000
COST OF REVENUE 2,602,000 2,106,000
GROSS PROFIT 6,096,000 5,292,000
OPERATING EXPENSES:    
General and administrative 2,447,000 2,456,000
Additional patent expense    1,000,000
Non-cash compensation 316,000 303,000
TOTAL OPERATING EXPENSES 2,763,000 3,759,000
OPERATING INCOME 3,333,000 1,533,000
OTHER INCOME (EXPENSES):    
Interest income, net 39,000 48,000
INCOME BEFORE INCOME TAXES 3,372,000 1,581,000
INCOME TAXES (BENEFIT):    
Current 37,000 (9,000)
Deferred 709,000 (6,903,000)
Total Income Taxes (Benefits) 746,000 (6,912,000)
NET INCOME 2,626,000 8,493,000
Net Income Per Share    
Basic $ 0.10 $ 0.33
Diluted $ 0.09 $ 0.27
Weighted average common shares outstanding    
Basic 25,744,330 25,813,038
Diluted 28,472,753 30,930,483
NET INCOME 2,626,000 8,493,000
OTHER COMPREHENSIVE INCOME, NET OF TAX:    
Unrealized gain (loss) arising during the period (9,000) (5,000)
COMPREHENSIVE INCOME $ 2,617,000 $ 8,488,000