Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 8,037,000 $ 3,812,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of Patents 139,000 100,000
Stock-based compensation 451,000 474,000
Deferred tax provision 39,000
Changes in operating assets and liabilities:    
Royalty receivables 127,000 (1,518,000)
Prepaid taxes 125,000 1,195,000
Other current assets 39,000 39,000
Accounts payable (10,000) (15,000)
Income taxes payable 1,164,000 640,000
Accrued expense (1,693,000) (2,598,000)
NET CASH PROVIDED BY OPERATING ACTIVITIES 8,379,000 2,168,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of other investments (23,977,000)
Development of patents (53,000) (8,000)
CASH USED IN INVESTING ACTIVITIES (24,030,000) (8,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends paid (1,188,000) (1,214,000)
Value of shares delivered to fund withholding taxes (50,000) (56,000)
Repurchases of common stock, net of commissions (1,283,000) (981,000)
Proceeds from exercise of options and warrants 30,000 1,068,000
NET CASH USED IN FINANCING ACTIVITIES (2,491,000) (1,183,000)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (18,142,000) 977,000
CASH AND CASH EQUIVALENTS, beginning of period 51,101,000 50,918,000
CASH AND CASH EQUIVALENTS, end of period 32,959,000 51,895,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid during the period for: Interest
Cash paid during the period for: Income taxes 918,000
NON-CASH FINANCING ACTIVITY    
Accrued dividend rights on restricted stock units $ 41,000 $ 42,000