Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash and cash equivalents $ 20,972,000 $ 22,587,000
Marketable securities, at fair value 23,763,000 25,730,000
Royalty receivables, net 128,000 343,000
Other current assets 51,000 98,000
TOTAL CURRENT ASSETS 44,914,000 48,758,000
OTHER ASSETS:    
Patents, net of accumulated amortization 1,714,000 1,819,000
Equity investment 3,938,000 4,437,000
Operating leases right-of-use asset 0 41,000
Security deposits 21,000 21,000
Total Other Assets 5,673,000 6,318,000
TOTAL ASSETS 50,587,000 55,076,000
CURRENT LIABILITIES:    
Accounts payable 38,000 421,000
Accrued contingency fees and related costs 45,000 492,000
Accrued payroll 16,000 334,000
Operating lease obligations - current 0 41,000
Other accrued expenses 226,000 281,000
TOTAL CURRENT LIABILITIES 325,000 1,569,000
TOTAL LIABILITIES 325,000 1,569,000
STOCKHOLDERS? EQUITY    
Preferred stock, $0.01 par value, authorized 10,000,000 shares; none issued and outstanding at June 30,2020 and December 31,2019 0 0
Common stock, $0.01 par value; authorized 50,000,000 shares; 23,947,389 and 24,036,071 shares issued and outstanding at June 30,2020 and December 31,2019 respectively 239,000 240,000
Additional paid-in capital 65,981,000 65,824,000
Accumulated deficit (16,029,000) (12,636,000)
Accumulated other comprehensive income 71,000 79,000
TOTAL STOCKHOLDERS' EQUITY 50,262,000 53,507,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 50,587,000 $ 55,076,000