Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets

v2.3.0.15
Condensed Balance Sheets (USD $)
Sep. 30, 2011
Dec. 31, 2010
Assets:    
Cash and cash equivalents $ 23,072,000 $ 21,348,000
Royalty Receivable 1,139,000 1,339,000
Other current assets 33,000 89,000
Total current assets 24,244,000 22,776,000
Other assets:    
Security deposits 19,000 6,000
Deferred tax asset 6,860,000  
Patents, net of accumulated depreciation 76,000 83,000
Total other assets 6,955,000 89,000
Total assets 31,199,000 22,865,000
Liabilities:    
Accounts payable 30,000 78,000
Accrued expenses 1,912,000 2,031,000
Deferred Rent 7,000  
Income Taxes Payable 6,000 61,000
Total liabilities 1,955,000 2,170,000
Commitments and contingencies    
Stockholders' Equity    
Common stock - $0.01 par value; authorized 50,000,000 shares; 25,782,893 and 25,931,879 shares issued and outstanding at September 30,2011 and December 31,2010, respectively 258,000 259,000
Additional paid-in capital 57,547,000 57,266,000
Accumulated deficit (28,561,000) (36,830,000)
Total stockholders' equity 29,244,000 20,695,000
Total liabilities and stockholder's equity $ 31,199,000 $ 22,865,000