Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 8,601,000 $ 2,268,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Amortization of Patents 70,000 50,000
Stock -based compensation 226,000 237,000
Deferred tax provision 39,000
Changes in operating assets and liabilities:    
Royalty receivables 151,000 (4,141,000)
Prepaid taxes 125,000 955,000
Other current assets 22,000 26,000
Accounts payable 185,000 74,000
Income taxes payable 2,319,000
Accrued expense 5,223,000 (2,285,000)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 16,922,000 (2,777,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of other investments (9,761,000)
Purchases of patents (27,000)
CASH USED IN INVESTING ACTIVITIES (9,788,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends paid (1,188,000) (1,209,000)
Repurchases of common stock, net of commissions (399,000)
Proceeds from exercises of options and warrants 30,000 1,068,000
NET CASH USED IN FINANCING ACTIVITIES (1,557,000) (141,000)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 5,577,000 (2,918,000)
CASH AND CASH EQUIVALENTS, beginning of period 51,101,000 50,918,000
CASH AND CASH EQUIVALENTS, end of period 56,678,000 48,000,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid during the period for: Interest
Cash paid during the period for: Income taxes
NON-CASH FINANCING ACTIVITY    
Accrued dividend rights on restricted stock units $ 41,000 $ 47,000