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 ($)
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (448,000) $ 8,037,000
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Amortization of patents 141,000 139,000
Stock-based compensation 271,000 451,000
Loss from equity investment 149,000
Deferred tax benefit (103,000)
Amortization of right of use asset, net 67,000
Unrealized gain on marketable securities (45,000)
Changes in operating assets and liabilities:    
Royalty receivables (197,000) 127,000
Prepaid taxes 125,000
Other current assets 54,000 39,000
Accounts payable 133,000 (10,000)
Income taxes payable 1,164,000
Operating lease obligations (67,000)
Accrued expenses (1,297,000) (1,693,000)
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES (1,342,000) 8,379,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sales of marketable securities 21,611,000 4,894,000
Purchases of marketable securities (22,291,000) (24,378,000)
Development of patents (35,000) (53,000)
Equity Investment (1,000,000)
NET CASH USED IN INVESTING ACTIVITY (1,715,000) (19,537,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends paid (1,191,000) (1,188,000)
Value of shares delivered to fund withholding taxes (366,000) (50,000)
Repurchases of common stock, net of commissions (333,000) (1,283,000)
Proceeds from exercise of options and warrants 107,000 30,000
NET CASH USED IN FINANCING ACTIVITIES (1,783,000) (2,491,000)
NET DECREASE IN CASH AND CASH EQUIVALENTS (4,840,000) (13,649,000)
CASH AND CASH EQUIVALENTS, beginning of period 23,763,000 44,351,000
CASH AND CASH EQUIVALENTS, end of period 18,923,000 30,702,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid during the period for: Income taxes 918,000
NON-CASH FINANCING ACTIVITY    
Accrued dividend rights on restricted stock units $ 27,000 $ 41,000