Annual report pursuant to Section 13 and 15(d)

Statements of Income and Comprehensive Income

v2.4.0.8
Statements of Income and Comprehensive Income (USD $)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Statements Of Income And Comprehensive Income    
ROYALTY REVENUE $ 8,017,000 $ 8,698,000
COST OF REVENUE 2,359,000 2,602,000
GROSS PROFIT 5,658,000 6,096,000
OPERATING EXPENSES:    
General and administrative 2,735,000 2,438,000
Amortization of Patents 1,008,000 9,000
Non-cash compensation 390,000 316,000
TOTAL OPERATING EXPENSES 4,133,000 2,763,000
OPERATING INCOME 1,525,000 3,333,000
OTHER INCOME (EXPENSES):    
Interest income, net 36,000 39,000
INCOME BEFORE INCOME TAXES 1,561,000 3,372,000
INCOME TAXES (BENEFIT)    
Current 10,000 37,000
Deferred 535,000 709,000
Total Income Taxes (Benefits) 545,000 746,000
NET INCOME 1,016,000 2,626,000
Net Income per share    
Basic $ 0.04 $ 0.10
Diluted $ 0.04 $ 0.09
Weighted average number of common shares outstanding:    
Basic 25,589,238 25,744,330
Diluted 27,954,685 28,472,753
NET INCOME 1,016,000 2,626,000
OTHER COMPREHENSIVE INCOME NET OF TAX:    
Unrealized gain (loss) arising during the period (17,000) (9,000)
COMPREHENSIVE INCOME $ 999,000 $ 2,617,000