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, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ (240,000) $ 8,601,000
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Amortization of patents 54,000 70,000
Stock-based compensation 144,000 226,000
Loss from equity investment 96,000
Unrealized gains on marketable securities (14,000)
Deferred tax benefit (65,000)
Changes in operating assets and liabilities:    
Royalty receivables (330,000) 151,000
Prepaid taxes 125,000
Other current assets 29,000 22,000
Operating lease right-of-use assets 33,000
Accounts payable 328,000 185,000
Income taxes payable 2,319,000
Operating lease obligations (31,000)
Accrued expenses (1,419,000) 5,223,000
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (1,415,000) 16,922,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sales of marketable securities 10,586,000
Purchases of marketable securities (10,068,000) (9,761,000)
Development of patents (24,000) (27,000)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 494,000 (9,788,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends paid (1,191,000) (1,188,000)
Repurchases of common stock, net of commissions (1,000) (399,000)
Proceeds from exercise of options and warrants 30,000
NET CASH USED IN FINANCING ACTIVITIES (1,192,000) (1,557,000)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (2,113,000) 5,557,000
CASH AND CASH EQUIVALENTS, beginning of period 23,763,000 51,101,000
CASH AND CASH EQUIVALENTS, end of period 21,650,000 56,678,000
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 $ 27,000 $ 41,000