Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 15,257,000 $ (234,000)
Adjustments to reconcile net income (loss) to net cash    
Amortization of patents 221,000 216,000
Stock-based compensation 183,000 242,000
Loss from equity investment 632,000 644,000
Deferred tax expense 1,634,000
Amortization of right of use asset, net 41,000
Unrealized (gain) loss on marketable securities 9,000 (10,000)
Changes in operating asset and liabilities:    
Royalty receivables 343,000
Other current assets 94,000 68,000
Accounts payable (197,000) (350,000)
Income taxes payable 3,036,000
Security deposit 8,000
Operating lease obligations (41,000)
Accrued expenses (1,276,000) (812,000)
NET CASH PROVIDED BY OPERATING ACTIVITIES 19,601,000 107,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sales of marketable securities 12,291,000 17,539,000
Purchases of marketable securities (10,597,000) (13,145,000)
Development of patents (86,000) (50,000)
Convertible note investment (1,000,000)
NET CASH PROVIDED BY INVESTING ACTIVITIES 608,000 4,344,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends paid (2,410,000) (2,456,000)
Value of shares delivered to fund withholding taxes (109,000)
Repurchases of common stock, inclusive of commissions (131,000) (252,000)
NET CASH USED IN FINANCING ACTIVITIES: (2,541,000) (2,817,000)
NET INCREASE IN CASH AND CASH EQUIVALENTS 17,668,000 1,634,000
CASH AND CASH EQUIVALENTS, beginning of period 25,505,000 22,587,000
CASH AND CASH EQUIVALENTS, end of period 43,173,000 24,221,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest
Income taxes
NON-CASH FINANCING ACTIVITY    
Accrued dividend rights on restricted stock units $ 19,000 $ 31,000