Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash and cash equivalents $ 25,505,000 $ 22,587,000
Marketable securities, at fair value 19,366,000 25,730,000
Royalty receivables 0 343,000
Other current assets 120,000 98,000
Total Current Assets 44,991,000 48,758,000
OTHER ASSETS:    
Deferred tax assets, net 954,000 0
Patents, net of accumulated amortization 1,578,000 1,819,000
Equity investment 3,650,000 4,437,000
Operating leases right-of-use asset 0 41,000
Security deposits 21,000 21,000
Total Other Assets 6,203,000 6,318,000
TOTAL ASSETS 51,194,000 55,076,000
CURRENT LIABILITIES:    
Accounts payable 597,000 421,000
Accrued contingency fees and related costs 932,000 492,000
Accrued payroll 277,000 334,000
Operating lease obligations - current 0 41,000
Other accrued expenses 226,000 281,000
TOTAL LIABILITIES 2,032,000 1,569,000
STOCKHOLDERS' EQUITY    
Preferred stock, $0.01 par value; authorized 10,000,000 shares; none issued and outstanding at December 31, 2020 and December 31, 2019 0 0
Common stock, $0.01 par value; authorized 50,000,000 shares; 24,105,879 and 24,036,071 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively 241,000 240,000
Additional paid-in capital 66,124,000 65,824,000
Accumulated deficit (17,193,000) (12,636,000)
Accumulated other comprehensive income (loss) (10,000) 79,000
TOTAL STOCKHOLDERS' EQUITY 49,162,000 53,507,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 51,194,000 $ 55,076,000