Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash and cash equivalents $ 44,497,000 $ 25,505,000
Marketable securities, at fair value 15,126,000 19,366,000
Other current assets 150,000 120,000
Total Current Assets 59,773,000 44,991,000
OTHER ASSETS:    
Deferred tax assets, net 954,000
Patents, net of accumulated amortization 1,384,000 1,578,000
Equity investment 2,651,000 3,650,000
Convertible note investment 1,000,000
Security deposits 13,000 21,000
Total Other Assets 5,048,000 6,203,000
TOTAL ASSETS 64,821,000 51,194,000
CURRENT LIABILITIES:    
Income taxes payable 2,952,000
Accounts payable 459,000 597,000
Accrued contingency fees and related costs 137,000 932,000
Accrued payroll 380,000 277,000
Other accrued expenses 180,000 226,000
Total Current Liabilities 4,108,000 2,032,000
LONG TERM LIABILITIES:    
Deferred tax liability 554,000
TOTAL LIABILITIES 4,662,000 2,032,000
STOCKHOLDERS' EQUITY    
Preferred stock, $0.01 par value; authorized 10,000,000 shares; none issued and outstanding at December 31, 2021 and December 31, 2020
Common stock, $0.01 par value; authorized 50,000,000 shares; 23,792,212 and 24,105,879 shares issued and outstanding at December 31, 2021 and December 31, 2020, respectively 238,000 241,000
Additional paid-in capital 66,361,000 66,124,000
Accumulated deficit (6,428,000) (17,193,000)
Accumulated other comprehensive loss (12,000) (10,000)
TOTAL STOCKHOLDERS’ EQUITY 60,159,000 49,162,000
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 64,821,000 $ 51,194,000