Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash and cash equivalents $ 26,594,000 $ 22,587,000
Marketable securities, at fair value 18,409,000 25,730,000
Royalty receivables, net 144,000 343,000
Other current assets 75,000 98,000
Total Current Assets 45,222,000 48,758,000
OTHER ASSETS:    
Patent, net of accumulated amortization 1,755,000 1,819,000
Equity investment 4,144,000 4,437,000
Operating leases right-of-use asset 9,000 41,000
Security deposits 21,000 21,000
Total Other Assets 5,929,000 6,318,000
TOTAL ASSETS 51,151,000 55,076,000
CURRENT LIABILITIES:    
Accounts payable 214,000 421,000
Accrued contingency fees and related costs 24,000 492,000
Accrued payroll 13,000 334,000
Operating lease obligations - current 9,000 41,000
Other accrued expenses 207,000 281,000
TOTAL CURRENT LIABILITIES 467,000 1,569,000
TOTAL LIABILITIES 467,000 1,569,000
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY    
Preferred stock, $0.01 par value, authorized 10,000,000 shares; none issued and outstanding at March 31, 2020 and December 31, 2019
Common stock, $0.01 par value; authorized 50,000,000 shares; 23,979,728 and 24,036,071 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively 239,000 240,000
Additional paid-in capital 65,896,000 65,824,000
Accumulated deficit (15,347,000) (12,636,000)
Accumulated other comprehensive income (loss) (104,000) 79,000
TOTAL STOCKHOLDERS' EQUITY 50,684,000 53,507,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 51,151,000 $ 55,076,000