Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 8,668,000 $ (1,921,000)
Adjustments to reconcile income (loss) to net cash    
Amortization of patents 147,000 144,000
Stock-based compensation 118,000 157,000
Loss from equity method investment 446,000 498,000
Unrealized gain on marketable securities (29,000) (1,000)
Amortization of right of use asset 41,000
Deferred tax expense 1,672,000
Changes in operating asset and liabilities:    
Royalty receivables 215,000
Other current assets 62,000 48,000
Income taxes payable 710,000
Security deposit 8,000
Accounts payable (200,000) (384,000)
Operating lease obligations (41,000)
Accrued expenses (332,000) (829,000)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 11,270,000 (2,073,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sales of marketable securities 9,020,000 13,169,000
Purchases of marketable securities (4,341,000) (11,209,000)
Development of patents (67,000) (39,000)
Convertible note investment (1,000,000)
NET CASH PROVIDED BY INVESTING ACTIVITIES 3,612,000 1,921,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends paid (1,206,000) (1,211,000)
Repurchases of common stock, inclusive of commissions (131,000) (252,000)
NET CASH USED IN FINANCING ACTIVITIES: (1,337,000) (1,463,000)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 13,545,000 (1,615,000)
CASH AND CASH EQUIVALENTS, beginning of period 25,505,000 22,587,000
CASH AND CASH EQUIVALENTS, end of period 39,050,000 20,972,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest
Income taxes
NON-CASH FINANCING ACTIVITY    
Accrued dividend rights on restricted stock units $ 10,000 $ 19,000