Annual report pursuant to Section 13 and 15(d)

Subsequent Events

Subsequent Events	12 Months Ended
Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Note P – Subsequent Events [1] On February 23, 2022, the Company’s Board of Directors declared a semi-annual cash dividend of $0.05 per share with a payment date of March 24, 2022 to all common shareholders of record as of March 9, 2022. [2] On February 23, 2022, the Company’s Board of Directors approved the grant of 15,000 45,000RSUs to each of the Company’s three non-management directors. The RSUs vest over a one year period in equal quarterly installments of 3,750 shares of common stock on each of March 15, 2022, June 15, 2022, September 15, 2022 and December 15, 2022. [3] On March 11, 2022, 125,000 shares of the Company’s common stock subject to restricted stock units owned by the Company’s Chairman and Chief Executive Officer were settled. With respect to the restricted stock unit settlement, the Chairman and Chief Executive Officer delivered 45,438 shares to satisfy withholding taxes and received 79,562 net shares of common stock. [4] On March 22, 2022, the Company entered into a new four year employment agreement with its Chairman and Chief Executive Officer. In connection with the agreement the Company granted to its Chairman and Chief Executive Officer 600,000 restricted stock units which vest in four tranches subject to certain conditions (see Note J[1] hereof). [5] On March 25, 2022, the Company completed the acquisition of a new patent portfolio (HFT Patent Portfolio) consisting of six U.S. patents and two pending U.S. patents covering certain advanced technologies relating to high frequency trading, which inventions specifically address technological problems associated with speed and latency and provide critical latency gains in trading systems where the difference between success and failure may be measured in nanoseconds. The Company paid the seller $500,000 at the closing and has an obligation to pay the seller an additional $500,000 and $375,000 of the Company's common stock upon achieving certain milestones with respect to the patent portfolio. The Company also has an obligation to pay the seller 15% of the first $50 million of net proceeds (after deduction of expenses) generated by the patent portfolio and 17.5% of net proceeds greater than $50 million.

Subsequent Events

12 Months Ended

Dec. 31, 2021

Note P – Subsequent Events

[1] On February 23, 2022, the Company’s Board of Directors declared a semi-annual cash dividend of $0.05 per share with a payment date of March 24, 2022 to all common shareholders of record as of March 9, 2022.

[2] On February 23, 2022, the Company’s Board of Directors approved the grant of 15,000 45,000RSUs to each of the Company’s three non-management directors. The RSUs vest over a one year period in equal quarterly installments of 3,750 shares of common stock on each of March 15, 2022, June 15, 2022, September 15, 2022 and December 15, 2022.

[3] On March 11, 2022, 125,000 shares of the Company’s common stock subject to restricted stock units owned by the Company’s Chairman and Chief Executive Officer were settled. With respect to the restricted stock unit settlement, the Chairman and Chief Executive Officer delivered 45,438 shares to satisfy withholding taxes and received 79,562 net shares of common stock.

[4] On March 22, 2022, the Company entered into a new four year employment agreement with its Chairman and Chief Executive Officer. In connection with the agreement the Company granted to its Chairman and Chief Executive Officer 600,000 restricted stock units which vest in four tranches subject to certain conditions (see Note J[1] hereof).

[5] On March 25, 2022, the Company completed the acquisition of a new patent portfolio (HFT Patent Portfolio) consisting of six U.S. patents and two pending U.S. patents covering certain advanced technologies relating to high frequency trading, which inventions specifically address technological problems associated with speed and latency and provide critical latency gains in trading systems where the difference between success and failure may be measured in nanoseconds. The Company paid the seller $500,000 at the closing and has an obligation to pay the seller an additional $500,000 and $375,000 of the Company's common stock upon achieving certain milestones with respect to the patent portfolio. The Company also has an obligation to pay the seller 15% of the first $50 million of net proceeds (after deduction of expenses) generated by the patent portfolio and 17.5% of net proceeds greater than $50 million.