Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash and cash equivalents $ 24,221,000 $ 22,587,000
Marketable securities, at fair value 21,271,000 25,730,000
Royalty receivables, net 0 343,000
Other current assets 30,000 98,000
TOTAL CURRENT ASSETS 45,522,000 48,758,000
OTHER ASSETS:    
Patents, net of accumulated amortization 1,653,000 1,819,000
Equity investment 3,793,000 4,437,000
Operating leases right-of-use asset 0 41,000
Security deposits 21,000 21,000
Total Other Assets 5,467,000 6,318,000
TOTAL ASSETS 50,989,000 55,076,000
CURRENT LIABILITIES:    
Accounts payable 70,000 421,000
Accrued contingency fees and related costs 75,000 492,000
Accrued payroll 5,000 334,000
Operating lease obligations - current 0 41,000
Other accrued expenses 194,000 281,000
TOTAL CURRENT LIABILITIES 344,000 1,569,000
TOTAL LIABILITIES 344,000 1,569,000
STOCKHOLDERS' EQUITY    
Preferred stock, $0.01 par value, authorized 10,000,000 shares; none issued and outstanding at September 30,2020 and December 31,2019 0 0
Common stock, $0.01 par value; authorized 50,000,000 shares; 24,033,076 and 24,036,071 shares issued and outstanding at September 30,2020 and December 31,2019,respectively 240,000 240,000
Additional paid-in capital 66,065,000 65,824,000
Accumulated deficit (15,664,000) (12,636,000)
Accumulated other comprehensive income 4,000 79,000
TOTAL STOCKHOLDERS' EQUITY 50,645,000 53,507,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 50,989,000 $ 55,076,000