Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)    
REVENUE $ 3,037,000 $ 22,106,000
OPERATING EXPENSES:    
Costs of revenue 882,000 8,072,000
Professional fees and related costs 1,490,000 1,635,000
General and administrative 2,167,000 2,255,000
Amortization of patents 285,000 290,000
Stock-based compensation 567,000 687,000
TOTAL OPERATING EXPENSES 5,391,000 12,939,000
OPERATING INCOME (LOSS) (2,354,000) 9,167,000
OTHER INCOME (LOSS):    
Interest and dividend income, net 1,150,000 876,000
Net realized and unrealized gain (loss) on marketable securities 37,000 (29,000)
Total other income, net 1,187,000 847,000
INCOME (LOSS) BEFORE INCOME TAXES AND EQUITY IN NET LOSSES OF EQUITY METHOD INVESTEE (1,167,000) 10,014,000
INCOME TAXES PROVISION:    
Current (147,000) 2,308,000
Deferred taxes, net 168,000
Total income taxes provision 21,000 2,308,000
INCOME (LOSS) BEFORE SHARE OF NET LOSSES OF EQUITY METHOD INVESTEE (1,188,000) 7,706,000
SHARE OF NET (LOSSES) OF EQUITY METHOD INVESTEE (604,000)  
NET INCOME (LOSS) $ (1,792,000) $ 7,706,000
Net Income (Loss) Per Share:    
Basic $ (0.07) $ 0.32
Diluted $ (0.07) $ 0.30
Weighted average common shares outstanding:    
Basic 23,978,774 23,763,785
Diluted 23,978,774 25,354,978
Cash dividends declared per share $ 0.10 $ 0.10
NET INCOME (LOSS) $ (1,792,000) $ 7,706,000
OTHER COMPREHENSIVE INCOME (LOSS):    
Net unrealized holding gain (loss) on corporate bonds and notes arising during the year, net of tax 160,000 (39,000)
COMPREHENSIVE INCOME (LOSS) $ (1,632,000) $ 7,667,000