Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Consolidated Statements Of Income And Comprehensive Income    
REVENUE $ 22,106,000 $ 16,451,000
OPERATING EXPENSES:    
Costs of revenue 8,072,000 4,970,000
Professional fees and related costs 1,635,000 2,057,000
General and administrative 2,255,000 2,255,000
Amortization of patents 290,000 206,000
Stock-based compensation 687,000 949,000
TOTAL OPERATING EXPENSES 12,939,000 10,437,000
OPERATING INCOME 9,167,000 6,014,000
OTHER INCOME:    
Interest income, net 876,000 215,000
Net realized and unrealized loss from investments (29,000)
Total other income 847,000 215,000
INCOME BEFORE INCOME TAXES 10,014,000 6,229,000
INCOME TAXES:    
Current 2,308,000 2,057,000
Deferred taxes, net 39,000
Total income taxes 2,308,000 2,096,000
NET INCOME $ 7,706,000 $ 4,133,000
Net Income Per Share:    
Basic $ 0.32 $ 0.17
Diluted $ 0.30 $ 0.16
Weighted average common shares outstanding:    
Basic 23,763,785 24,147,908
Diluted 25,354,978 26,396,160
Cash dividends declared per share $ 0.10 $ 0.10
NET INCOME $ 7,706,000 $ 4,133,000
OTHER COMPREHENSIVE INCOME (LOSS):    
Net unrealized holding loss on corporate bonds and notes arising during the year, net of tax (39,000) (11,000)
COMPREHENSIVE INCOME $ 7,667,000 $ 4,122,000