Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Jun. 30, 2019
Dec. 31, 2018
CURRENT ASSETS:    
Cash and cash equivalents $ 18,923,000 $ 23,763,000
Marketable securities, at fair value 32,116,000 31,228,000
Royalty receivables, net 641,000 444,000
Other current assets 58,000 112,000
Total Current Assets 51,738,000 55,547,000
OTHER ASSETS:    
Deferred tax assets 271,000 168,000
Patents, net of accumulated amortization 1,883,000 1,989,000
Equity investment 3,392,000 2,541,000
Operating leases right-of-use asset 63,000
Security deposits 21,000 21,000
Total Other Assets 5,630,000 4,719,000
TOTAL ASSETS 57,368,000 60,266,000
CURRENT LIABILITIES:    
Accounts payable 200,000 67,000
Income taxes payable 197,000 197,000
Accrued contingency fees and related costs 276,000 1,136,000
Accrued payroll 64,000 486,000
Operating lease obligations – current 64,000
Other accrued expenses 184,000 175,000
TOTAL CURRENT LIABILITIES 985,000 2,061,000
TOTAL LIABILITIES 985,000 2,061,000
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY    
Preferred stock, $0.01 par value, authorized 10,000,000 shares; none issued and outstanding at June 30, 2019 and December 31, 2018
Common stock, $0.01 par value; authorized 50,000,000 shares; 24,088,811 and 23,735,927 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively 241,000 237,000
Additional paid-in capital 65,524,000 65,151,000
Accumulated deficit (9,464,000) (7,102,000)
Accumulated other comprehensive income (loss) 82,000 (81,000)
TOTAL STOCKHOLDERS' EQUITY 56,383,000 58,205,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 57,368,000 $ 60,266,000