Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS    
REVENUE $ 4,403,000 $ 3,037,000
OPERATING EXPENSES:    
Costs of revenue 1,653,000 882,000
Professional fees and related costs 2,407,000 1,490,000
General and administrative 2,162,000 2,167,000
Amortization of patents 292,000 285,000
Stock-based compensation 302,000 567,000
TOTAL OPERATING EXPENSES 6,816,000 5,391,000
OPERATING LOSS (2,413,000) (2,354,000)
OTHER INCOME:    
Interest and dividend income, net 522,000 1,150,000
Net realized and unrealized gain on marketable securities 15,000 37,000
Total other income, net 537,000 1,187,000
LOSS BEFORE INCOME TAXES AND EQUITY IN NET LOSSES OF EQUITY METHOD INVESTEE (1,876,000) (1,167,000)
INCOME TAXES PROVISION (BENEFIT):    
Current (464,000) (147,000)
Deferred taxes, net (490,000) 168,000
Total income taxes (benefit) (954,000) 21,000
LOSS BEFORE SHARE OF NET LOSSES OF EQUITY METHOD INVESTEE: (922,000) (1,188,000)
SHARE OF NET LOSSES OF EQUITY METHOD INVESTEE (787,000) (604,000)
NET LOSS $ (1,709,000) $ (1,792,000)
Net Loss Per Share:    
Basic $ (0.07) $ (0.07)
Diluted $ (0.07) $ (0.07)
Weighted average common shares outstanding:    
Basic 24,011,354 23,978,774
Diluted 24,011,354 23,978,774
Cash dividends declared per share $ 0.10 $ 0.10
NET LOSS $ (1,709,000) $ (1,792,000)
OTHER COMPREHENSIVE INCOME (LOSS):    
Net unrealized holding gain (loss) on corporate bonds and notes arising during the year, net of tax (89,000) 160,000
COMPREHENSIVE LOSS $ (1,798,000) $ (1,632,000)