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Condensed Statements of Income and Comprehensive Income (Unaudited) (USD $)
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3 Months Ended | 9 Months Ended | ||
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Sep. 30, 2013
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Sep. 30, 2012
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Sep. 30, 2013
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Sep. 30, 2012
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| Condensed Statements Of Income And Comprehensive Income | ||||
| ROYALTY REVENUE | $ 1,227,000 | $ 1,418,000 | $ 7,198,000 | $ 7,809,000 |
| COST OF REVENUE | 345,000 | 393,000 | 2,117,000 | 2,341,000 |
| GROSS PROFIT | 882,000 | 1,025,000 | 5,081,000 | 5,468,000 |
| OPERATING EXPENSES: | ||||
| General and administrative | 738,000 | 622,000 | 1,933,000 | 1,653,000 |
| Amortization of Patents | 418,000 | 2,000 | 668,000 | 7,000 |
| Non-cash compensation | 70,000 | 58,000 | 326,000 | 223,000 |
| TOTAL OPERATING EXPENSES | 1,226,000 | 682,000 | 2,927,000 | 1,883,000 |
| OPERATING INCOME (LOSS) | (344,000) | 343,000 | 2,154,000 | 3,585,000 |
| OTHER INCOME (EXPENSES): | ||||
| Interest income, net | 9,000 | 3,000 | 27,000 | 22,000 |
| INCOME (LOSS) BEFORE INCOME TAXES | (335,000) | 346,000 | 2,181,000 | 3,607,000 |
| INCOME TAXES (BENEFIT) | ||||
| Current | (3,000) | 11,000 | 23,000 | 44,000 |
| Deferred | (124,000) | 141,000 | 192,000 | 709,000 |
| Total Income Taxes (Benefits) | (127,000) | 152,000 | 215,000 | 753,000 |
| NET INCOME (LOSS) | (208,000) | 194,000 | 1,966,000 | 2,854,000 |
| Net Income per share | ||||
| Basic | $ (0.01) | $ 0.01 | $ 0.08 | $ 0.11 |
| Diluted | $ (0.01) | $ 0.01 | $ 0.07 | $ 0.10 |
| Weighted average number of common shares outstanding: | ||||
| Basic | 25,792,387 | 25,963,093 | 25,387,348 | 25,659,085 |
| Diluted | 28,189,583 | 28,516,642 | 27,462,358 | 28,544,972 |
| NET INCOME (LOSS) | (208,000) | 194,000 | 1,966,000 | 2,854,000 |
| OTHER COMPREHENSIVE INCOME NET OF TAX: | ||||
| Unrealized gain (loss) arising during the period | (1,000) | (6,000) | (15,000) | (4,000) |
| COMPREHENSIVE INCOME (LOSS) | $ (209,000) | $ 188,000 | $ 1,951,000 | $ 2,850,000 |
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- Definition
Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The net amount of operating interest income (expense). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition
Amount after tax, before reclassification adjustments, of unrealized holding gain (loss) on available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to certain property. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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